Aeropostale, the bankrupt teen retailer, will get a fresh start.

The New York retailer won court approval to sell its assets for $243 million to a joint venture comprised of mall operators, Simon Property Group and General Growth Properties, as well as brand licensing companies, Authentic Brands Group, Hilco Merchant Resources and Gordon Brothers Retail Partners.

The unusual arrangement is a first for landlords Simon and General Growth. Some 7,000 jobs are to be saved, with US stores dropped from 739 as of May 1 to 229.

Meanwhile, 228 employees at the West 34th Street headquarters were told they’d be laid off, according to a state labor department filing.

The new owners are to decide who will stay from current management ranks, a source said.