Century 21 Reopening Financial District Store After Going Dark in 2020
But the planned April 25 rebirth of the department came with some concessions, according to Crain’s New York Business, which first reported the news. Only four of the store’s original six floors, totaling 100,000 square feet, will be open to retail.
Century 21 did not immediately respond to a request for comment.
The revival comes after the Gindi family, which owns Century 21 through ASG Equities, shuttered up to 13 locations in New York, New Jersey, Pennsylvania and Florida at the height of the pandemic. ASG blamed the closures on insurance companies declining to cover $175 million in lost income due to the forced closures.
The Cortlandt Street location was one of those that went dark. Another Century 21 location that closed was in Bay Ridge, Brooklyn, where the department store got off the ground in 1961 after being founded by the Gindi family.
But its Bay Ridge outpost might not reopen. ASG decided in March to demolish the 170,000-square-foot vacant retail building between near 460 86th Street in favor of redeveloping the property into a retail center that can host multiple tenants, Commercial Observer reported at the time.
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