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A Greek-American Who Said "No" to 10 Million Dollars

Gritsipis

Louis Gritsipis’ four-story building is still stubbornly standing in the west end of 42nd Street in New York.

The owner, 73 year-old Louis Gritsipis, an american citizen from Kandila in Aetolia-Acarnania, Greece, had the opportunity to sell the building in 2000 when the development company J.D. Carlisle planned to build a luxury skyscraper right alongside it. According to Mr. Gritsipis, he was offered 10 million dollars for the building. According to company, the initial offer was about 7 million dollars.

“We wanted to control the environment,” said Jules Demchick, chairman of the real estate business. Costas Kondylis, the famous architect who undertook the project, appealed to Mr. Gritsipis mentioning their common heritage and common age but he refused!

Mr. Kondylis says he understands him. “We gave him some incentive,” he explains. “Maybe if he had been offered one or two apartments in the new building.” The skyscraper was passed to another company, the Moinian Group, and in 2007 they launched the 47-storey Atelier, as it was called.

Mr. Gritsipis still lives next door, in a two-bedroom apartment in the building he purchased for 150,000 dollars in 1980. By renting some of the apartments he earns 3,000 dollars per month. The Greek immigrant claims that he is given offers constantly, reaching up to 15 million dollars. “Even if you give me one billion dollars I will not sell,” he explains.

Outside the 42nd Street restaurant, called Pizza Corporation, hangs the American flag. “I’m more American than the Americans,” Gritsipis says.

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