New Buyer Promises To Make Atlantic Terminal Mall And Atlantic Center 'Hipper,' Reports Say

FORT GREENE, BROOKLYN — The Atlantic Terminal Mall and the Atlantic Center across from the Barclays Center have been sold to a new realty company as part of a $1 billion deal, according to reports.

Madison International Realty has agreed to buy Forest City’s 51 percent share in the two shopping mall complexes on the corner of Atlantic and Flatbush avenues, Crain’s New York reported.

Madison is effectively claiming full ownership of 700,000 square feet of retail space, having already held a 49 percent interest in the Atlantic Avenue properties, according to the Commercial Observer.

Ronald Dickerman, president of Madison International Realty, told Crain’s the company will invest millions into the retail buildings and promised to court new tenants who would make the malls a “hipper destination.”

One Brooklynite took to Twitter to celebrate the news of impending hipness.

World's Worst Target might get upgrade to like World's Second or Third Worst Target https://t.co/xdsGaw6uHI
— Amanda Mull (@amandamull) September 22, 2017

The realty company — which also picked up several other retail locations across the five boroughs and in New Jersey — plans to begin working on the Atlantic Terminal and Atlantic Center in 2018, according to Crain’s.

Photo by Kathleen Culliton