BAY RIDGE —THE FORMER CENTURY 21 SITE IN BAY RIDGE WILL BE TURNED INTO A $100 MILLION RETAIL COMPLEX, the developers announced on Monday, Aug. 25, as reported on REBusiness Online.
The project is a joint venture between Baltimore-based MCB Real Estate and New York’s Osiris Ventures. The partners purchased the 14-lot assemblage at 458 86th St. for $47.5 million from ASG Equities, which had owned the property since the longtime Century 21 department store went out of business. Construction for the redevelopment, called Century Marketplace, will feature 95,000 square feet of retail, including a grocery anchor.
The development involves reconstructing the multi-story structures facing 86th Street to create a two-story building that aligns with the existing rear one on 87th Street. Construction will include a new interior atrium facing 86th Street
Century 21 discount department stores date back to 1961, when brothers Al and Sonny Gindi opened their first one at 22 Cortland St., which became the flagship store. Although severely damaged during the Sept. 11, 2001 terror attacks, it was eventually repaired, only for the entire company to file Chapter 11 bankruptcy during the pandemic. A smaller version of the flagship store in Lower Manhattan reopened in 2023, but the others did not.
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