"The 10,086-square-foot home at 2126 East 4th Street belonged to Eli Gindi, a real-estate developer whose family founded the Century 21 department-store chain. Gindi appears to have unloaded his Beaux-Arts-ish McMansion in an off-market deal to Victor Hakim, the founder and CEO of the Choice Home Warranty firm, according to city records and PincusCo, which first reported the transaction."
"For those of you unfamiliar with the financial microclimate that is the Gravesend market, the neighborhood is the epicenter for Syrian Jews in New York City and home to members of some of its wealthiest real-estate families. In a slice of the neighborhood that some members of the community described to me as its own Gold Coast - roughly between Avenues S and U and from McDonald Avenue to Ocean Parkway,"
"'When you factor in a community flush with money with a community that has a need to be within walking distance of each other, you create a perfect storm of a residential real-estate market where prices can get very silly very easily,' real-estate agent Louis Calemine, of Calemine & Co., told me earlier this year."
A three-story, 10,086-square-foot Gravesend house sold for $32 million, surpassing the previous Brooklyn residential record. The home at 2126 East 4th Street was owned by developer Eli Gindi and appears to have been sold off-market to Victor Hakim, CEO of Choice Home Warranty. Gravesend contains a concentration of wealthy Syrian Jewish families and a local Gold Coast where proximity to community institutions drives demand. Homes in that corridor often sell for millions, and recent transactions include a $7 million East 3rd Street purchase by investor Jeff Sutton. Local affluence and walkability sustain elevated prices.
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