Gindi family borrows $11M from Gerber Finance for property in Bay Ridge

The Gindi family through the entity 438 87th Street Company as borrower signed a loan agreement with lender Gerber Finance valued at $11 million for 4 parcels, including the tax class fireproof warehouse (E1) at 416 87th Street, 436 87th Street, 423 88th Street, and 415 88th Street in Bay Ridge. The deal closed on November 12, 2020 and was recorded on November 27, 2020.

The owner entities including the Gindi family’s ASG Equities and Michael Sonnabend LLC. In addition, the entity Strike Enterprises, LLC, which has a process address at ASG Equities, and is not a mortgagor, is identified as a borrower. This is the first debt the Gindi family has borrowed that was secured by this property.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA.