The former Century 21 site at 448 86th Street has been sold for $47.5 million to MBC Real Estate and Osiris Ventures. Redevelopment plans include a $100 million project to create a 95,000-square-foot retail complex anchored by a grocery store. The design features a two-story building with an interior atrium facing 86th Street and vibrant retail spaces. The project aims to reinvigorate the Bay Ridge commercial corridor after years of uncertainty following Century 21's bankruptcy in 2020 and the store's subsequent closure.
The $100 million project aims to transform the former department store site into a 95,000-square-foot retail complex anchored by a grocery store.
Century 21 was founded in Bay Ridge in 1961 but filed for bankruptcy in 2020 due to the impacts of COVID-19, closing all its stores.
The sale likely marks the end of a five-year saga to find a buyer after years of proposed projects, none of which materialized.
The redevelopment will feature a newly constructed two-story building with an interior atrium facing 86th Street, along with vibrant street-level retail spaces.
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