If you’ve needed to purchase a bottle in the past 70 years, Astor Wines & Spirits has been supplying ever since, as NYC’s premier wine & spirits retailer.
The Romanesque Revival style building in which the wine shop is currently located has been a designated NYC landmark since 1966. The De Vinne Press Building was first constructed in the late 1800s for American printer and scholar on typography, Theodore De Vinne. All printing operations had terminated in 1922, eight years following his death.
Astor Wines & Spirits originally graced Greenwich Village in the middle of Astor Place in 1946. It was’t until two expansions later (the most recent in 2006) when it moved into the historically landmarked De Vinne Press Building. Astor Wines & Spirits was eventually purchased by Edwin Fisher in 1968. Edwin’s son Andy has held the role of President since 1971 with his brother Rob Fisher as the Chief Operating Officer. However, as of August 2022, the business has been sold to its employees. Yes, you read that right.
The sale, announced today, was made to an ESOP, in which shares of the business are allocated to the employees. Astor's owners, the Fisher family, explained: "the best succession plan is to entrust Astor to the people who have been so instrumental in building our enterprise.” pic.twitter.com/8NDF1NzSbg
— Astor Wines & Spirits (@astorwines) September 12, 2022
To clarify, the business has been sold to an Employee Stock Ownership Plan. This means that shares of the business are divided among its employees.
“My brother and I believe the best succession plan is to entrust Astor to the people who have been so instrumental in building our enterprise. By becoming an employee-owned business, we ensure that Astor Wines & Spirits will maintain our qualitative standards in selection and service while providing the additional benefit of rewarding our outstanding team.” — Andy Fisher
The announcement was met with much approval:
I did not believe it was possible for me to love Astor Wines more. Congratulations to all!
— Cthululemon (@thekateblack) September 12, 2022
What a wonderful idea! No one else is more invested in the success of the business!🍾🥂🍻
— sfru ☮🏳️🌈🍾🍷💉💉💉💉😎#VoteBlue2022🇺🇸🇺🇦🌻 (@sfru) September 14, 2022
I am bookmarking this tweet it gives me such joy
— roneetie (@roneetie) September 13, 2022
See more updates on their website here.
Where: 399 Lafayette St., New York