Supermarket Owner Buys Brooklyn Retail Building From Chetrit Group for $34M
The owner of a Uzbeki grocery store chain Tashkent Supermarket, Odiljon Tursunov, bought the retail building at 1100 Kings Highway in Sheepshead Bay, Brooklyn, for $34 million from an entity tied to the Chetrit Group, according to property records made public Friday.
Tursunov scored a $7.8 million gap mortgage and a $24 million loan to refinance previous debt on the property from 1100 KH Lender, which shares an address with Isaac Chetrit’s AB & Sons, according to city records.
Isaac and Eli Chetrit purchased an $18 million defaulted bank note on the currently vacant single-story property from Signature Bank last year, with plans to use it as a development site at the time, Crain’s New York Business reported. In September, the Chetrits consolidated additional debt on the building into one $16.2 million loan with Signature, according to property records.
David Chetrit then filed permits to demolish the interior walls of the 20,000-square-foot property last month, which could potentially clear the way for a grocery store — something Tursunov is known for — according to New York City Department of Buildings records.
Tursunov opened the first Tashkent — named after the capital of Uzbekistan — at 713 Brighton Beach Avenue and bought a 36,000-square-foot retail property at 1769 86th Street in Bensonhurst for a new outpost last year. He also plans to open a location in the West Village at 378 Sixth Avenue in February.
Representatives for Tashkent and the Chetrit Group did not immediately respond to requests for comment.
Lee & Associates NYC’s Mark Kapnick brokered the sale for Tursunov. Kapnick declined to comment.
Celia Young can be reached at email@example.com.