The Plot
At 52–54 Antonovycha Street in central Kyiv sits a 4.04-hectare land plot — one of the largest privately-owned sites in the Ukrainian capital’s central business district. It is located within walking distance of the Olimpiiska metro station, the National Sports Complex, and critical infrastructure facilities, including the E.O. Paton Electric Welding Institute of the National Academy of Sciences of Ukraine.
The plot is held in freehold and zoned for the construction of a large mixed-use complex comprising residential, retail, office and leisure facilities with underground parking. It is widely known as «Gorky Park».
Who Is Selling
The formal owner of the plot is Garden City LLC — a Ukrainian subsidiary of the French real estate company La Société Générale Immobilière (LSGI). According to Ukraine’s Unified State Register of Legal Entities, the ultimate beneficial owners of Garden City LLC are members of the Zelinger de Balkany / Strom family:
- Zelinger de Balkany Marina Anna Gabrielle (Italy, Rome) — 24.4%;
- Zelinger de Balkany Ep. Strom Oleksandra Mari Zhakline Ilus (Luxembourg) — 51.2%;
- Janssens-Zelinger de Balkany Marie-Elisabeth Leopoldа Lilian Helen Margerita (Switzerland) — 24.4%.
The same family are beneficiaries of LSGI — a French real estate developer and property manager with an office on Place Vendôme in Paris. The president of LSGI is Robert Strom. The director of Garden City LLC is Nartov Yurii.
As far back as September 2021 — before Russia’s full-scale invasion — LSGI was circulating a confidential investment teaser titled «Gorky Park — Development Opportunity» among potential investors, offering the plot for sale as “one of the best available sites for development in Kyiv.”
Who May Buy — and Why It Matters
According to monitoring conducted by civic organization «Klever», among those linked to the possible acquisition of the plot is Ukrainian national Spektor Oleksandr — a low-profile Kyiv-based real estate developer who in 2021 ranked 81st on Forbes Ukraine’s list of the country’s wealthiest individuals, with an estimated net worth of approximately $136 million. His assets include the class-A «Senator» business center and the «Blockbuster Mall» shopping center.
Spektor controls at least 13 legal entities in Ukraine through a multi-layered corporate structure using Austrian, Swedish and Cypriot holding companies.
The problem arises through Park Kultury LLC (USREOU 38049896), in which Spektor held a 40% stake from April 2017 to May 2024. Among the participants of that company is Mykhailo Meitine — a Russian Federation national residing in Rostov-on-Don.
Particular concern surrounds the events of 22–23 May 2024: over the course of two days, Park Kultury LLC underwent corporate changes as a result of which Spektor and another Ukrainian co-owner exited the company entirely. Meitine’s stake simultaneously increased from 10% to 20%.
This means that notarial and registration acts were carried out in favor of a person linked to the aggressor state during active wartime conditions — potentially in violation of Ukrainian Cabinet of Ministers resolutions No. 164 (28.02.2022) and No. 187 (03.03.2022).
It has also been established that Illia Kriukov, a Russian Federation national, participated in signing the founding documents of Food Project LLC — another company within Spektor’s corporate orbit.
What Has Been Done
In May 2026, civic organization «Klever» filed a formal declaration with the Security Service of Ukraine requesting an investigation into the circumstances of the case and measures to protect Ukraine’s national interests. The organization has also informed French partners about the situation.
Why This Matters
This case is a telling example of how multi-layered foreign corporate structures can be used to obscure effective control over strategically significant assets in a country at war.
A 4-hectare plot in central Kyiv, adjacent to critical infrastructure, is not merely a commercial asset. Its potential acquisition by structures with documented Russian ties is a matter of national security.
