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JLL Arranges Sale of Former Century 21 Site in Bay Ridge

JLL Capital Markets arranged the $28-million sale of 423 88th St., a 186,584-square-foot commercial property in Bay Ridge, Brooklyn, that previously housed a Century 21 home store.

A JLL team including Ethan Stanton, Jeffrey Julien, Brendan Maddigan and Michael Mazzara arranged the transaction on behalf of ASG Equities, the New York-based family office of the Gindi family. The same team arranged the sale of 458 86th St. to a joint venture of MCB Real Estate and Osiris Ventures in July 2025. The buyer was the Abed Family, represented by Michael Feratovic of Specialized Realty Group.

Situated between 88th and 87th streets and 4th and 5th avenues, the structure contains 62,792 square feet of commercial space spread across three floors as well as 123,729 square feet of parking spread across six stories and two roof decks. The first-floor ceiling height is 22.5 feet, and the second-floor ceiling height is 18 feet.

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JLL's Stanton

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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