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New York & Tri-State  + Downtown New York  + Retail  | 
Century 21 plans to reopen its flagship Lower Manhattan department store in spring 2023

Century 21 Reopens in FiDi After ’20 Bankruptcy 

Discount store Century 21 is set to reopen its Financial District flagship store at 22 Cortlandt St. The four-floor store will offer designer apparel, footwear, accessories, and fragrances.  

Century 21 was a renowned fashion destination in New York known for providing luxury items at discounted prices. The store made $747 million in revenue in 2019. Plans to open new locations, including one at the American Dream Mall, were halted due to insurers’ refusal to pay $175 million for losses resulting from COVID-19 business interruptions. The store faced bankruptcy and closed its 13 East Coast stores in 2020. 

The Gindi family, along with a private investor, acquired the brand’s intellectual property for $9 million. The bankruptcy proceedings resulted in legal disputes with Ben Ashkenazy, the CEO and retail real estate titan behind Ashkenazy Acquisition Corp. Gindis have investments in several of Ashkenazy’s properties. 


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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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