Gindis Hit With Foreclosure Suit Over Closed Astor Place Starbucks

July 11, 2025 | New York City

The long-shuttered Astor Place Starbucks may be gone, but it’s left behind financial fallout for its former landlords. Isaac and Edward Gindi, members of the Century 21 retail family, are being sued by special servicer Rialto Capital, which alleges the pair defaulted on a $26.7 million loan after Starbucks exited the 5,800-square-foot space in 2024.

The Gindis allegedly failed to make a $1.5 million payment required if the tenant vacated, skipped $36K in condo dues, and didn’t submit guarantor financials. Their attorneys called the claims “legally defective” and say they’ll fight them vigorously. Rialto has drawn criticism in other cases for aggressive enforcement tactics, though it insists it's only acting in rare default situations.