Final part of former Bay Ridge Century 21 sold

The final part of the former Bay Ridge Century 21 site has been sold.

Crain’s reported that the Gindi family, which owns the building and department store, sold the 423 88th Street location for $28 million to the Abed family. 

The sale was made through the Gindi family’s New York-based office ASG Equities, brokerage JLL announced.

Of the 187,000 square feet that was sold, 63,000 square feet are commercial space and 124,000 are six levels of parking.

The outlet added that it’s unknown what the Abed family’s plans are for the space.

It was announced in July that MCB Real Estate and Osiris Ventures made a joint acquisition of the space at 458 86th St. for $47.5 million with plans to redevelop the space, calling it the Century Marketplace.

A spokesperson for MCB told this paper in September that the existing site will undergo a partial demolition before redevelopment begins, with work scheduled to start in the fourth quarter of the year.

“The project will be anchored by a full-service grocer, ensuring the community has convenient access to fresh food and everyday essentials,” the spokesperson said. “Surrounding the grocery anchor, the development will feature a curated mix of fashion retailers and service-oriented businesses ranging from health, wellness, and beauty to neighborhood conveniences.”

They added that the Bay Ridge location is special because “it offers a rare opportunity to bring new energy to one of Brooklyn’s most established neighborhoods.”

The Gindi family filed for bankruptcy Sept. 2020 and announced closures of its 13 stores, including its Bay Ridge location. The retail chain had been a mainstay of the 86th Street shopping strip since 1961. Despite efforts by elected officials to keep the store open, it officially closed Dec. 2020.