{"id":443036,"date":"2022-05-06T21:45:57","date_gmt":"2022-05-06T18:45:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/will-the-western-beef-grocery-empire-give-way-to-luxury-condos\/"},"modified":"2022-05-06T21:45:57","modified_gmt":"2022-05-06T18:45:57","slug":"will-the-western-beef-grocery-empire-give-way-to-luxury-condos","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/will-the-western-beef-grocery-empire-give-way-to-luxury-condos\/","title":{"rendered":"#Will the Western Beef grocery empire give way to luxury condos?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a502b6ff1732\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a502b6ff1732\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/will-the-western-beef-grocery-empire-give-way-to-luxury-condos\/#%E2%80%9CWill_the_Western_Beef_grocery_empire_give_way_to_luxury_condos%E2%80%9D\" >&#8220;Will the Western Beef grocery empire give way to luxury condos?&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CWill_the_Western_Beef_grocery_empire_give_way_to_luxury_condos%E2%80%9D\"><\/span>&#8220;Will the Western Beef grocery empire give way to luxury condos?&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/western-beef-supermarket-01.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Family beef is sizzling over the future of the iconic New York grocery store chain Western Beef.<\/p>\n<p>The affordable supermarket brand with a sentient cactus mascot (his name is Charlie) and meat as cheap as its looks could soon become tartare (e.g., luxury condos). <\/p>\n<p>In 2020, the founder of Wester Beef, Peter Castellanas Sr., died from COVID-19. During his life, he was charged and found guilty of many mob-related crimes, among them selling adulterated meat, defrauding the government in a stolen food stamps scheme, committing bankruptcy fraud, lying to the Securities and Exchange Commission and extortion (for having meat suppliers threatened with bone breakage over a debt), according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.curbed.com\/2022\/05\/western-beef-real-estate-cheap-meat-luxury-rentals.html\">Curbed<\/a>. <\/p>\n<p>Now, his grandson, Peter III, who was until recently Western Beef\u2019s CEO, is attempting to take the company in a new direction. <\/p>\n<p>He hopes to cash in on skyrocketing land prices in the boroughs by razing his family\u2019s stores and developing luxury residential buildings in their place. He shuttered seven Western Beef stores to build projects like\u00a0the Astor in Long Island City, where rent is roughly $5,000 per month for a two-bedroom unit. In The Bronx, he teamed up with a developer to create a nine-story,\u00a0159-mixed-unit development.<\/p>\n<p>\u201cI had a business plan, all the numbers worked out,\u201d he told Curbed. \u201cI had some of the best economical minds available to me.\u201d<\/p>\n<p>But his father and Western Beef board chairman Peter Jr. \u2014 who grew up in the family business, building it into a $300 million chain with\u00a020 stores and 2 million square feet of real estate\u00a0in the New York area \u2014 has a bone to pick with his son. <\/p>\n<p>\u201cI just want to get our business back,\u201d Peter Jr. told the magazine. \u201cThis is my baby. This is what I live for.\u201d<\/p>\n<p>He has since relieved his son of his position and halted the redevelopment projects. <\/p>\n<p>\u201c[They] offered us big, big money for the real estate,\u201d Peter Jr. said of a Western Beef near the Marcy Projects. \u201cThey wanted to put huge condominiums over there, like they\u2019re doing in the whole area.\u201d <\/p>\n<p>He\u2019s not having it.<\/p>\n<p>But Peter the younger isn\u2019t done \u201csteaking\u201d out his territory. He\u2019s since launched a real estate firm, dubbed\u00a0Cactus Asset Management, that manages more than\u00a025 mixed-use developments and Western Beef properties. He plans to target Western Beef stores and other businesses in areas like Carroll Gardens and The Bronx for redevelopment going forward.<\/p>\n<p>What\u2019s next? We\u2019re hoping for Western Beef-branded residences.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/06\/will-the-western-beef-grocery-empire-give-way-to-luxury-condos\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Will the Western Beef grocery empire give way to luxury condos?&#8221; Family beef is sizzling over the future of the iconic New York grocery store chain Western Beef. The affordable supermarket brand with a sentient cactus mascot (his name is Charlie) and meat as cheap as its looks could soon become tartare (e.g., luxury condos)&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":443037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/western-beef-supermarket-01.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[128880,83001,71389,128887],"class_list":["post-443036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-6-22","tag-mob","tag-supermarkets","tag-western-beef"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/443036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=443036"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/443036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/443037"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=443036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=443036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=443036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}