Two years after a predawn N.Y.P.D. raid shut down Canal St.’s “Counterfeit Triangle,” the city announced an agreement that will allow the Chinatown building to reopen.
Property owners on the triangular block bounded by Canal, Baxter, Walker and Centre Sts. paid the city $800,000 and promised to use their shops for legal purposes only, the city said Tuesday. Before the Feb. 26, 2008 raid, the block’s 32 storefronts were selling watches, jewelry and handbags that were knockoffs of Coach, Gucci, Dolce & Gabbanna, Prada, Rolex and many other brands. Police confiscated over $1 million worth of merchandise when shutting the stores down in 2008.
The city then filed a civil nuisance abatement action against the owners of the building, which includes shuttered storefronts at 224-230 Canal St.; 232 Canal St.; 234-238 Canal St.; 106 Baxter St.; 112-116 Walker St.; 118 Walker St.; 120-124 Walker St.; and 152-156 Centre St. The agreement announced Tuesday concludes the legal action, clearing the way for new tenants to move in.
