‘Counterfeit Triangle’ squares things away with city post-raid

Two years after a predawn police raid shut down Canal St.’s “Counterfeit Triangle,” the city, earlier this month, 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 Tues., April 6.

Before the Feb. 26, 2008, raid, the block’s 32 storefronts were selling watches, jewelry and handbags that were knockoffs of Coach, Gucci, Dolce & Gabbana, Prada, Rolex and many other brands. Police confiscated more than $1 million worth of merchandise when shutting the stores down.

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 on April 6 concluded the legal action, clearing the way for new tenants to move in.