Malachite Group To Buy 5 NYC Buildings From Retail Family

Law360, New York (August 28, 2012, 6:57 PM EDT) -- The Malachite Group is currently purchasing five buildings in lower Manhattan from the owners of Century 21 Department Stores for an undisclosed price, re-entering the New York market after two decades of investing elsewhere, a company representative said Tuesday.

Long Island-based Malachite, owned by real estate investor Manny Malekan, will buy 20 John Street, 8-10 Liberty Street, 20 Beaver Street and 53 and 122 Nassau Street from the Gindi family, which is divesting itself of a collection of Manhattan properties.

“We are in the process of...
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