RIPCO principal talks about sale of Century 21, TJ Maxx buildings in Bay Ridge
Expects several tenants to offer variety of retail offerings
RIPCO Real Estate Vice Chairperson and Principal Gene Spiegelman, in a conversation with the Eagle on Wednesday, detailed the ins and outs of his company’s plan to lease the Bay Ridge sites of the former Century 21 Department Store, the former TJ Maxx store, and a 290-car, multiple level parking garage.
“Century 21 stores ran a hugely successful business there, and it was part of the fabric of the community,” he said of the once popular store. “Unfortunately, they were the victims of the worst of COVID. It took the business down.”
While locals have recently been frustrated by a lack of shopping in the area, Spiegelman said the process is time consuming and complicated.
“There are mixed buildings there and the majority of it was owned by the Gindi family, several of the buildings were not,” he said. “They were under long-term leases, and what they successfully did was acquire several of the buildings so they could control the whole parcel.”