Astor wines

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Every product is independently selected by editors. Things you buy through our links may earn Vox Media a commission. Astor became a pillar of its Noho community, a rare vestige of the old world. Astor underwent another transformation this past summer, announcing on September 12 that its owners, brothers Andy and Rob Fisher, had completed a sale of the company — not to another set of owners but to their employees. They can expect to take home modest dividends in good years and sell their shares when they leave. New employees will also receive shares.

Astor wines

Thanks for subscribing! Look out for your first newsletter in your inbox soon! By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Although until now known for its free wine tastings and in-store events, the shop has just earned another claim to fame: the Fisher family that has owned it until now just sold the store to an Employee Stock Ownership Plan, which allows employees to hold shares of the company and, therefore, earn a portion of the profits. 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. Andy Fisher, the company's president, went into detail about the decision on Instagram. According to The Village Sun , the Fisher family has owned and operated the downtown destination, which currently employees 75 people, for over 50 years. Although the sale was made final on August 16, the price has not been revealed. The company moved to the new space in The much applauded development follows the sudden closure of another beloved wine shop, the only Trader Joe's Wine Store in all of New York. Back in August, the space permanently shut down without any warning. Since then, reports have been circulating about the decision's connection to employees' attempts at organizing a union vote.

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Click here for details. Drop in for one of our free tastings and pick up a few bottles of a new favorite. Read about our eco-friendly landmark location in New York City. New York, NY Offer available to new subscribers. Cannot be combined with any other offers.

Click here for details. Drop in for one of our free tastings and pick up a few bottles of a new favorite. Read about our eco-friendly landmark location in New York City. New York, NY Offer available to new subscribers. Cannot be combined with any other offers. We ship outside NY too!

Astor wines

Current president Andy Fisher has led the business his late father bought in for some five decades. Astor enters a new era this year as ownership passes from the Fisher family. In a social media post last week, the store announced that the company had been sold through an employee stock ownership plan ESOP.

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