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 an

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