The former Century 21 department store in Bay Ridge has been sold for $47.5 million to MBC Real Estate and Osiris Ventures. The site will be redeveloped into 'Century Marketplace,' a $100 million multi-retail space. This new complex will cover 95,000 square feet and include a grocery store. Plans include a two-story building with an atrium on 86th Street and vibrant retail spaces. Century 21, founded in 1961, filed for bankruptcy in 2020, impacting the local economy. The previous redevelopment efforts faced numerous changes, leading to community frustration after years of uncertainty.
The former Century 21 site will be redeveloped into 'Century Marketplace,' a $100 million project that aims to transform it into a 95,000-square-foot retail complex.
The redevelopment includes a newly constructed two-story building with an interior atrium facing 86th Street, alongside vibrant street-level retail spaces.
Years of proposed projects for the Century 21 site left many Bay Ridge residents feeling discouraged as plans repeatedly shifted without materializing.
Century 21, a significant local retailer since 1961, filed for bankruptcy in 2020 due to COVID-19, leading to the loss of its stores.
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