A Brooklyn townhouse has set the record for priciest sale in the borough.
Eli Gindi, a member of the Gindi real estate family, sold his home at 2126 East Fourth Street in South Brooklyn’s Gravesend neighborhood for $32 million, according to property records.
The buyer of Gindi’s home was identified as Victor Hakim, CEO and founder of Choice Home Warranty, according to PincusCo, which first reported the deal.
The sale of the roughly 10,000-square-foot home involved some delicate ownership maneuvers. Gindi transferred the deed to an LLC two weeks before selling the shares in the corporation to Hakim, according to property records. The home was built in 2006, according to Curbed.
The sale price surpasses the borough’s previous record for a single-family sale, set by 8 Montague Terrace in Brooklyn Heights, which sold for $25.5 million in 2020.
The family that made its fortune founding the discount department store Century 21 in the 1960s moved past retail and into real estate, accumulating a vast portfolio under Gindi Capital across Manhattan, Brooklyn and Queens that it sold for $164 million in 2012.
The family has remained active in the city, currently working with Legion Investment Group on a luxury condo offering at 38 Gramercy Park North. Legion and Gindi closed on the final two properties in a six-parcel assemblage earlier this year.
Elsewhere in the city, Gindi is facing foreclosure with another prominent South Brooklyn resident and Wharton Properties founder, Jeff Sutton. The two are among a group of investors that TD Bank claimed did not pay back their loan on a Midtown retail building in a complaint filed earlier this year.
Sutton himself purchased a home in Gravesend in June for $7 million at 2085 East Third Street, less than one block away from Gindi’s old home.
Gindi’s sale represents a massive escalation for prices in the area, where homes rarely touch the eight-figure threshold. Last year, Barbara and Marvin Azrak, the managing principal of real estate investment firm Maguire Capital Group, sold their Midwood home for $9 million.
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