Ex-Mayor Sorokin Sells Former Plant Site for Fortune
Oleg Sorokin acquired the former Start plant site on Belinsky Street in the early 2000s.
Former Nizhny Novgorod mayor Oleg Sorokin, who is serving a prison sentence, has sold the property complex of the former Start plant on Belinsky Street. The site was purchased by a group of investors led by Oleg Golovko — Sorokin«s former partner in the company Stolitsa Nizhny, writes Kommersant-Volga Region.
According to the publication«s sources, the deal could be worth more than 1 billion rubles (approximately $11 million at current rates). The plant building is located at 61 Belinsky Street. Its premises have long been occupied by tenants: cafes, shops, and banks. Oleg Sorokin and his partner bought out the enterprise»s territory back in 2003. At the same time, nearby, on the site of the former factory canteen, the businessman built the Etazhi shopping center.
Last year, the prosecutor«s office recovered 1.4 billion rubles (approximately $15.6 million at current rates) from Oleg Sorokin and his ex-wife Elada Nagornaya, believing that the money could have been obtained illegally. This is not the first such lawsuit by the supervisory authority against the married couple. As sources of Kommersant suggest, it is possible that the money from the sale of the building could go towards paying off the recoveries.
In 2025, the founders of the company Stolitsa Nizhny decided to liquidate the firm. The projects of the under-construction residential complexes changed names, and the development company began operating under the brand Novy Nizhny.
As for the territory of the former plant, they plan to implement a comprehensive territory development (KRT) project. On the site bounded by Belinsky, Izhorskaya, and Nevzorovykh streets, they want to build housing and commercial facilities.
They planned to conclude construction contracts by the end of this year. However, as stated in the regional Ministry of Construction, it is possible that the start of work will be shifted to 2027. While the KRT concept is being discussed by the authorities, it will be coordinated with architects and then submitted for approval to the regional headquarters for urban development.
Oleg Sorokin was arrested in 2017 on charges of bribery and kidnapping and sentenced to ten years in prison. Recently, the ex-head of Nizhny applied for parole, but the court denied him.
