We are proud of our long history in the Bay Ridge community and remain dedicated to ensuring that the 86th Street corridor serves as a vibrant destination that will attract residents and visitors from across the borough and beyond for decades to come, said George Karnoupakis, head of asset management for the Gindi Family's real estate company ASG Equities, in a statement.
We are working with JLL to explore all of our options for moving forward with a redevelopment, which could involve new joint venture partners or an outright sale to an experienced residential developer, Karnoupakis said.
While it was unfortunate that the Gindi family had decided to forego their initial plan, I am ultimately relieved that the properties can now go to a buyer who will be more motivated to fill the remaining empty storefronts and contribute to our vibrant and crucial retail corridor, said Council Member Justin Brannan.
I'm committed to working with a new owner to ensure we can bring in the stores and businesses that our neighborhood values and needs.
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