The site of the former Century 21 store in Bay Ridge, Brooklyn, is being redeveloped into an “urban retail landscape,” including mixed-use commercial and retail businesses totaling some 150,000 square feet, the developer and local councilmember announced on Monday.
The project, first reported by The Brooklyn Paper, is being led by ASG Equities — the real estate holdings company of the Gindi family, who founded the Century 21 store in 1961.
The vibrancy of the 86th Street commercial corridor is crucial to our local economic ecosystem not only as a retail shopping destination but a hub of local employment.
Plans include repurposing more than 700 feet of storefronts, bringing retail stores encompassing 15 buildings on 86th and 87th streets. ASG said it is now looking for “best in class, institutional quality retail” — a mix that will include supermarkets, apparel, cosmetics, medical, food and more — to fill the 150,000 square feet of commercial space.
Councilmember Justin Brannan, who represents the district, said the retail will attract shoppers to the area, benefiting local small businesses.
"The vibrancy of the 86th Street commercial corridor is crucial to our local economic ecosystem not only as a retail shopping destination but a hub of local employment,” Brannan said in a statement. “A rising tide lifts all boats – the more people shopping on 86th Street, the more economic activity we’ll see for our small businesses and restaurants along 3rd and 5th Avenues.”
In a tweet on Monday Brannan said he’s worked on the project for the last two and a half years.
A new development eyed for the former Century 21 site in Bay Ridge would see some 700 feet of storefronts be repurposed for commercial and retail uses.
A new development eyed for the former Century 21 site in Bay Ridge would see some 700 feet of storefronts be repurposed for commercial and retail uses.
According to ASG Equities, the Gindi family had been buying properties on 86th Street since the 1960s, when it first opened Century 21. After filing bankruptcy and closing their stores at the end of 2020, the family bought five contiguous Bay Ridge buildings that were formerly occupied by the department store, but never owned by the family — launching their plans to redevelop the site.
The development will include an outdoor pedestrian walkway that will connect 86th and 87th streets, with the goal of marketing the rear 87th Street building to national supermarkets. ASG said it already signed a 20,000 square foot lease with New York-Presbyterian, which will repurpose the former TJ Maxx building at 502 86th St., along with Class A retail available on grade and cellar levels.
