Triangle Plaza, the retail complex at 1663 Flatbush Ave, just sold for $41 million. The buyer, Hello Living, is promising a rooftop food hall by next year.

Hello Living closed the $41 million deal for Triangle Plaza in Flatbush on Monday, June 10, according to property records and the brokerage firm Ariel Property Advisors. The two-story, 60,000-square-foot retail center sits at the busy corner of Flatbush and Foster Avenues, anchoring a highly trafficked section of the neighborhood. The property, previously owned by longtime landlord the Mendelsohn family, last traded hands in 1987 for under $7 million.

Representatives from Hello Living told NYC Pulse the new owners plan to keep tenants like Target and The Children’s Place open during renovations. “We want Triangle Plaza to be a new food destination for Flatbush, Crown Heights, and Midwood,” said Hello Living CEO Eli Karp outside the property Tuesday morning. He confirmed plans for a 12,000-square-foot rooftop food hall featuring local vendors and outdoor seating, aiming for a soft launch by Memorial Day 2025.

The Flatbush Avenue retail sector has seen renewed leasing activity in 2024, with Chipotle opening at 1610 Flatbush and a new Lidl supermarket slated for fall. Neighborhood leaders, including Flatbush Junction BID director Camille Rankine, welcomed the investment but urged Hello Living to prioritize community vendors for the food hall. “If they’re bringing in new jobs and giving space to local businesses, that’s a win for Flatbush,” Rankine said on Wednesday.

Triangle Plaza’s $41 million sale marks one of the largest retail transactions in Brooklyn this year, signaling confidence in the borough’s post-pandemic retail recovery. Construction permits for the rooftop addition are expected to be filed with the DOB in July, according to city filings reviewed by NYC Pulse.

Frequently Asked Questions

Who bought Triangle Plaza and for how much?

Hello Living, a Brooklyn-based developer, purchased Triangle Plaza at 1663 Flatbush Ave for $41 million on June 10, 2024, from the Mendelsohn family. The transaction was confirmed by Ariel Property Advisors and city records.

What will the new owner do with Triangle Plaza?

Hello Living plans a major renovation, highlighted by a 12,000-square-foot rooftop food hall. Existing retail tenants will remain open during construction, and the new food hall is scheduled to debut in summer 2025.

Will the rooftop food hall use local vendors?

Hello Living says the food hall will feature a mix of well-known and local Flatbush vendors. Community leaders are advocating for a strong local presence. Details on vendor selection will be announced this fall.

Frequently Asked Questions

Who bought Triangle Plaza on Flatbush Avenue and for how much?

Hello Living purchased Triangle Plaza at 1663 Flatbush Ave for $41 million on June 10, 2024.

What are the redevelopment plans for Triangle Plaza after the sale?

Hello Living plans to open a 12,000-square-foot rooftop food hall by summer 2025 while keeping current tenants open during renovations.

Will current tenants at Triangle Plaza remain open during renovations?

Yes, existing tenants like Target and The Children’s Place will remain open during the renovations.

When is the new rooftop food hall at Triangle Plaza expected to open?

The rooftop food hall is scheduled to open by Memorial Day 2025.

Will the new food hall at Triangle Plaza feature local vendors?

Hello Living says the food hall will include a mix of well-known and local Flatbush vendors, with details on vendor selection to be announced.

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