Is this the start of a Barclays Center gold rush?

The Brooklyn Paper
Share on TwitterTweet
Share on Facebook

Don’t miss our updates:

The owners of a 96-year-old sporting goods store directly across the street from the nearly finished home of the Brooklyn Nets are cashing out — putting their building up for sale in what speculators say is the beginning of a real estate gold rush sparked by the opening of the new arena.

Triangle Sports owner Henry Rosa said he and his partner, William Shapiro — whose grandparents opened the shop as an Army surplus outfit in 1916 — made to decision to sell after the offers started trickling in over the summer from businesses eager to get in on the action near the soon-to-be-completed Barclays Center.

“Because of the arena, the value has gone up quite a bit,” said Rosa, who hinted that the building could garner millions of dollars. “We’ve gotten solicited by a lot of people making offers and I thought I could be here another 100 years and never make what I’d get for it now.”

The oddly shaped sporting goods store has already gotten the attention of McDonald’s, which eyed the triangular lot bounded by Flatbush Avenue, Fifth Avenue, and Dean Street, a spokesperson from the burger purveyors said.

TerraCRG, the real estate company marketing the Triangle Sports property, has been using the site’s location just steps from the entrance of the Barclays Center — where the Nets are scheduled to take the court this fall after concerts by rap mogul Jay-Z — as one of its main selling points.

“The Barclays Center and Atlantic Yards development will add exponentially to this demand, causing rents in the already scarce available retail space to surge based on proximity to the stadium,” the firm wrote in a glossy pamphlet marketing the property.

Experts say the streets around the behemoth arena could experience a significant shift with the addition of thousands of sports fans passing through for the Nets home games. That makes a property like Triangle Sports a no-brainer for would-be investors, said broker and real estate expert Chris Havens.

“It’s worth an awful lot — it is such an unusual property,” said Havens. “It will make a great bar or restaurant space.”

As megadeveloper Bruce Ratner nears his goal of bringing the Nets to Brooklyn — just one part of his controversial Atlantic Yards housing and hoops plan — neighborhood opposition has shifted from attempts to halt the project entirely to efforts to preserve the community’s character.

Some arena neighbors have fought against new pubs in the neighborhood that they believe are targeting Nets fans, disparaging a nine-month-old sports bar on Pacific Street and badgering the proprietor of another planned sports bar until he opened a “farm-to-table” restaurant more in line with the kinds of eateries common in Park Slope. Rosa says that he is holding out for just the right offer before he begins “playing golf everyday” — but he says he’s not just letting just anybody take over the unique building.

“I’m going to be selective who we give it to,” said Rosa, who lives in Brooklyn Heights. “I’m not just going to go to the highest bidder — I’m cognizant of the ramificati­ons.”

Rosa wants to trade peddling Levi’s for playing the links — but the boom he’s banking on is anything but certain, according to some real estate insiders.

“There’s a lot of anticipation in that area,” said Ken Freeman, a Park Slope agent and a vice president with Massey Knakal. “A lot of owners think that gold is going to rain from the sky, but only time will tell if that’s true.”

Gold has not rained on Triangle Sports from its shelves of workmen’s clothes from American brands like Carhartt and Levi’s — the company used to operate eight other locations in the city according the Wall Street Journal, who first reported the flagship shop’s closure.

“The demographics of the area have changed so much that my customer base — blue collar workers — has gone,” said Rosa, who laments that even the recent boost he’s gotten from arena construction workers will soon disappear when the sports facility is finished.

Reach reporter Eli Rosenberg at or by calling (718) 260-2531. And follow him at
Updated 5:30 pm, July 9, 2018
Today’s news:
Share on TwitterTweet
Share on Facebook

Don’t miss our updates:

Reasonable discourse

reader says:
Would that be Ken Freeman of Massey Knakal?
Feb. 9, 2012, 8:22 am
common sense from bay ridge says:
Sounds like the perfect location for a new Islanders team store.
Feb. 9, 2012, 8:43 am
Jonny from Brokelyn says:
Weird, i thought Atlantic Yards was supposed to make Brooklyn more affordable. How odd that it isn't.
Feb. 9, 2012, 9:18 am
Pher from Prospect Heights says:
Rosa is right to worry that the construction worker customers will disappear after the arena is complete. The first building has yet to get financing in place, and the modular construction Forest City is planning will put most of the jobs in factories elsewhere for whatever is eventually built.
Feb. 9, 2012, 9:58 am
Gerriet from Carroll Gardens says:
I like your thought common sense. Let's go Islanders!!!
Feb. 9, 2012, 1:16 pm
Charles from Bklyn says:
Too bad a great store is giving way to changing times. Whether or not this change is a good thing is far from certain, but the owner's promise to make a thoughtful decision as to who eventual takes ownership is proof of the loss for Brooklyn of another good small business. I fear one day Brooklyn will feel more like something other than Brooklyn. Then, why be here?
Feb. 9, 2012, 2:07 pm
Tal Barzilai from Pleasantville, NY says:
It's obvious that the area is just going to turn into another run of the mill place with nothing but chains and corporations. Once again, another wave of gentrification hits another neighborhood in pushing out all of those who have been there for generations. If those store owners wanted to stay, they should have fought the project when they could have. Don't bring up that the arena will bring in tax revenues because Neil de Mause, the author of Field of Schemes, has proven time after time that sports facilities aren't just net money losers, but they can never bring in the tax revenue. As a matter fact, no private developer has ever been able to bring in tax revenue especially if they are subsidized when they are the ones that get to collect the profits.
Feb. 9, 2012, 6:22 pm
Moses from Park Slope says:
What's the zoning on that lot? If I buy it, how tall can I go? Someone might want to build a very tall, very slender boutique hotel on that spot. Just because Triangle is two stories doesn't mean the new owner will keep it that way. What's the zoning?
Feb. 9, 2012, 9:16 pm
Barry from Gowanus says:
I remember this store when I was a kid, money, money, money it's what it's all about now. they will probably change the name of Brooklyn some day as they done to the neighborhood area names.
Feb. 10, 2012, 1:37 pm
Barry from Gowanus says:
Hell they push the poor middle class out of the nabes , newbies telling them we don't want you here. it's not your neighborhood anymore and don't care if you were born here, your parents and theirs. We are now Brooklynites even though we were born eleswhere, here's a few dollars for you to settle somewhere else. some who are moving in are very nice! but others are nothing more then elite snobs with nannys who lock themselves in thier million dollar brownstones not knowing who thier neighbors are. all of NYC has changed, they killed the soul of the nabes. what was once the real deal has become a trendy bore, over price.
Feb. 10, 2012, 1:59 pm
Tal Barzilai from Pleasantville, NY says:
Moses, the area was never rezoned. The only reason Ratner got to build his project there was because of his connections with the state, who got to help him override the city zoning laws there. Both Ratner and Marty knew that through ULURP it would never get passed especially when many of the local council members would have a say, and opposed it in a hugh landslide when put to a vote. As a result, he had to use SEQRA where they wouldn't have much of a say. Nevertheless, I don't see a real estate boom occuring, and there is a reason why it was said to be nothing more than a speculation, which can lead to anything. Again, professional sports facilities have been proven countless times that they are NOT economic engines. As for that store, they should have known what was comming before they remained either on the fence or possibly supporting the project in the past, because they had their chance to fight and blew that chance. Anything they do now is just too little too late.
Feb. 10, 2012, 3:50 pm
Ben from Brooklyn Heights says:
I dont think you understood the article. The owners of the store saw their customer base start to dwindle years ago when this part of Brooklyn began gentrifying, Long before the arena construction started. They are thrilled now to be getting multiple offers beyond what they ever thought they could sell for. Other property owners in the adjacent area will probably see similar boons.
Feb. 12, 2012, 9:33 am
JJ from Park Slope says:
Worst thing that ever happened to most of us in this nabe. Do you know there is NO parking because Ratner thinks everyone will take the train? Get ready for double parking, drunk drivers and the RAMPANT robbery that occurs in Ratner's Atlantic mall--a must to avoid.
Feb. 12, 2012, 3:45 pm
Tal Barzilai from Pleasantville, NY says:
Ben, you are living in a fantasy if you think this area will be a boon just because of that arena. What's interesting is that I didn't hear anything about that store until just recently. I betcha, if this project was never done, they would still be there without a problem. For the most part, the arena will probably be the only thing that ever gets done, while the rest of the project will remain interim lots for years to come. Also, you have to understand that this isn't the movie Field of Dreams where if you build it they will come, this is real life, and it doesn't work that way.
Feb. 12, 2012, 5:04 pm
Ben from Brooklyn Heights says:
Tal, What you don't understand is that the store isn't having a problem with the arena; they are happy it is coming. The owners are thrilled that they are now getting multiple offers on a site where business had been dwindling for years.
Feb. 13, 2012, 12:04 pm
Tal Barzilai from Pleasantville, NY says:
Why should they sell their store and leave? I think that they deserve to stay. The only problem with that is that this complex will cause rents and property taxes to go up making it harder for them to stay. The only thing I can picture going where they are is probably a corporation, which will probably be the rest of the surrounding area. As a matter of fact, its corporations that surround places like these, and if you don't believe me, just go around MSG and Yankee Stadium for that and tell me what dominates the area for those place, because the last time I checked, there weren't a lot of local businesses in either one of them.
Feb. 13, 2012, 6:40 pm

Comments closed.

First name
Last name
Your neighborhood
Email address
Daytime phone

Your letter must be signed and include all of the information requested above. (Only your name and neighborhood are published with the letter.) Letters should be as brief as possible; while they may discuss any topic of interest to our readers, priority will be given to letters that relate to stories covered by The Brooklyn Paper.

Letters will be edited at the sole discretion of the editor, may be published in whole or part in any media, and upon publication become the property of The Brooklyn Paper. The earlier in the week you send your letter, the better.

Keep it local!

Stay in touch with your community. Subscribe to our free newsletter: