The aftermath of the Pintchik sale: turnover after new owners of retail in blocks near arena raised rents, according to Park Slope Pulse

Photos: Norman Oder

On Jan. 4, the publication Park Slope Pulse published Why 30+ Local Businesses closed in 2025 across Park Slope, Prospect Heights, and Gowanus, with a closer look at Bergen Street.

"Several owners specifically cited rent hikes along the Bergen Street corridor between 5th Avenue and Flatbush Avenue - a stretch long known for independent boutiques and eateries," the publication reported. "Business owners have also reported similar rent increases along 5th Avenue."

As I reported last year, longtime landlords, the Pintchik family, sold 26 buildings, including 11 on Bergen Street for $102.5 million to the Ostad brothers. of Tristar Management.

The total included 32 retail spaces and 80 apartments.

Given the original owners' low cost basis, they were known for reasonable rents. That was expected to change, and it apparently did. (The new owners have not, however, added floors to the buildings.) 

"Notice to the Customer," reads the sign in the window of Gino's Pizza, at 218 Flatbush Avenue, at Bergen. "Gino's Pizza has closed.Thank you for 40 years of patronage and loyalty." (Park Slope Pulse cited a secondhand report of unsustainable rent.)

As I reported in September, based on a brochure from the new owners, Florida-based Skinny Louies's, a smashburger joint, at 218 Flatbush. 

 

Note: I suspect that some businesses on Flatbush Avenue, like the burger joint, may have arena attendees in mind as a secondary audience, but the Bergen Street retailers rely on locals. So this is a consequence more of gentrification and the expectation of more revenues from retailers and customers.

Rents up nearly 50%?

 

Park Slope Pulse cited sharp rent increases, some based on secondhand information. 

Valerie Fitch, owner of VF Designs (458 Bergen), said on Instagram that her rent would "increase almost 50%," which Park Slope Pulse said led to a level of $9,500 per month, which was unsustainable. The location is now Babyface Brows. 

 

(Now there are two adjacent storefronts with the same coloring, which is new. Previously the space on the right was blue.)

 

Babyface Brows and A. Cheng

 

Also closing was Beer Witch (460 Bergen), which was a building the Pintchiks retained, so the issue was not rent. "Despite my best efforts, the ongoing challenges of running a small business in this ever-changing city have become too much to sustain," the owner said on Instagram.

 

Advised Park Slope Pulse:

All of this is a reminder that if you love local businesses, the most powerful way to support them is to show up. Make a conscious effort to visit them during the week, not just on weekends. Share your finds and favorites with a friend, leave a kind review. 

In fact, a Pintchik tenant, A. Cheng, moved from their space in 466 Bergen, which had been sold, to 460 Bergen, former home of Beer Witch.

 

The former homes of A. Cheng and Ride Brooklyn (which moved to Fourth Ave.)

The former Gino's space will become a burger joint.

New York-based Xi'an Famous Foods, as per the sign in the window below, is on its way at194 Flatbush Avenue, once home to the clothing boutique Versailles, which moved to Nostrand Avenue in Prospect Lefferts Gardens.

Xi'an is coming

Also closed: GAHM by mokbar (212 Flatbush).