Triangle Equities began construction of the Queens center with leases already obtained from Old Navy, Modell’s Babies ‘R Us, and McDonalds, and later added a Starbucks to the tenant mix. All tenants continue to lease space at Triangle Plaza I.

The site was originally purchased by the Flower Market Association of New York from the City of New York for the construction of a new flower market facility. The site is located on what had previously been wetlands, and the association’s new building began sinking upon initial erection of steel. Triangle obtained city approval to purchase the property from the association in 1996 and, following a successful IFP process, achieved a rezoning for the site to permit retail uses.