Demolition set for storied Century 21 building, developers seeking 'national grocer,' smaller shops and restaurants * Brooklyn Paper

"Demolition of the long-vacant Century 21 site on 86th Street is set to begin in November, clearing the way for a $47.5 million redevelopment into a two-story retail complex called Century Marketplace, the property's new owners confirmed to Brooklyn Paper. MCB Real Estate and Osiris Ventures, which purchased the property in July, expect construction to start in the first half of 2026, said Amy Bonitz, managing director of community development at MCB. The first stores are projected to open in 2027."

""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. The announcement follows several failed proposals for the property since Century 21 closed in 2020, including plans for an "urban retail landscape" and later a residential center, both of which were abandoned. Responding to residents' frustration over repeated delays, Bonitz said the team "is committed to seeing the Century Marketplace through to completion.""

Demolition of the long-vacant Century 21 site on 86th Street will begin in November to enable a $47.5 million redevelopment into a two-story retail complex named Century Marketplace. MCB Real Estate and Osiris Ventures purchased the property in July and plan construction to start in the first half of 2026, with first stores opening in 2027. The plan includes smaller retail and food spaces to complement existing neighbors, larger anchor tenants on the 87th Street side and the second floor accessed via a central atrium with a main 86th Street entrance, and efforts to secure a national grocer. Previous redevelopment proposals since 2020 were abandoned.

Read at Brooklyn Paper