Demolition of the long-vacant Century 21 site on 86th Street will begin in November to clear the site for a $47.5 million redevelopment into Century Marketplace, a two-story retail complex. MCB Real Estate and Osiris Ventures purchased the property in July and expect construction to start in the first half of 2026, with the first stores projected to open in 2027. The project will feature smaller retail and food spaces alongside larger anchor tenants concentrated on the 87th Street side and the second floor, accessible via a new central atrium with a main entrance on 86th Street. Developers are pursuing a national grocer. Multiple prior redevelopment proposals since the 2020 closure were abandoned, and the development team is committed to completing the project.
"Acquiring the property this July was a major milestone," Bonitz said in a statement to Brooklyn Paper. "We wouldn't have moved forward with the acquisition unless we were fully confident in our ability to execute our business plan for this important site."
Plans call for "new retail and food spaces designed for smaller tenants, bringing energy and variety that complements existing neighbors like Banana Republic, Sephora, Victoria's Secret, and Pandora," Bonitz said.
Bonitz said developers are also working to bring a "national grocer to the tenant mix," something local residents have long called for.
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