Century 21 reopens downtown

Real Estate Weekly, March 6, 2002 by Parke Chapman

After a $10 million renovation, Century 21 re-opened their flagship store last week at 22 Cortlandt St. directly across from Ground Zero.

Century 21's only Manhattan location has been a staple of downtown retail for over 20 years.

"Pretty soon, you'll be able to buy underwear during lunch downtown," said Deputy Mayor for Economic Development Daniel Doctoroff recently, referring to Century 21's announcement.

This store has generated more than half of its total sales and profits in the past.

According to Crain's, the retailer has not received any government aid, despite extensive damages caused by the World Trade Center collapse. The store was also closed during the 2001 holiday season, while renovations occurred.

"This is very exciting. It will create a retail domino effect down there," predicts retail broker Faith Hope Consolo of Garrick-Aug store leasing.

She added that the re-opening "rechristens the vibrancy of downtown retail," which comes at a needed time.

A Downtown Alliance spokesperson could not be reached for comment on the news.