9 DeKalb Avenue

9 DeKalb Avenue

A rendering of the proposed skyscraper
Alternative names 340 Flatbush Avenue Extension
General information
Status Proposed
Type Mixed-use
Location 9 DeKalb Avenue
Coordinates 40°41′25″N 73°58′56″W / 40.69028°N 73.98222°W / 40.69028; -73.98222Coordinates: 40°41′25″N 73°58′56″W / 40.69028°N 73.98222°W / 40.69028; -73.98222
Estimated completion Q1 2019[1]
Management JDS Development
Chetrit Group
Height
Roof 1,066 feet (325 m)
Technical details
Floor count 73
Floor area 555,734 sq ft (51,600 m2)
Design and construction
Architect SHoP Architects

9 DeKalb Avenue, alternatively referred to as 340 Flatbush Avenue Extension, is a proposed supertall residential skyscraper planned for Brooklyn, New York by JDS Development Group and the Chetrit Group.[1] If completed it would become the tallest structure in New York City outside Manhattan, as well as the first supertall building in Brooklyn, and the second in New York City not in Manhattan, after Queens Plaza Park.[2][3][4]

History

9 DeKalb will incorporate the historical Dime Savings Bank building,[5] which JDS and Chetrit finished acquiring in late 2015.[6] The Dime Savings Bank building was previously owned by J.P. Morgan Chase and was used as a bank branch.[7] The building was sold for $90 million, and was first placed on the market in late 2014.[8] Originally, developers planned to acquire the building occupied by Junior's, a cheesecake restaurant, to use its air-rights.[9][10] However, Alan Rosen, the owner, turned down a $45 million buyout, as well as a later deal for less that would have included retail space in the new building.[11]

Plans for the structure were first filed in mid-2014, calling for a seventy story, 775 foot building, also designed by SHoP Architects.[12] The building will mark the third collaboration between JDS and SHoP, after 111 West 57th Street and American Copper Buildings.[13][14]

In early 2016, new plans were released with a slight height extension and reduced space for retail.[15] Proposed modifications to the existing Dime Savings Bank structure were approved by New York City Council's Landmarks Preservation Commission in April 2016, indicating support for the building's construction.[16] Changes include the removal of non-original additions to the structure and repairing damage to the building's marble and copper.[17]

Location

The proposed structure will be located in Downtown Brooklyn and will be several blocks away from the current tallest buildings in Brooklyn, Avalon Willoughby West and 388 Bridge Street.[18] If built as planned, the building will be slightly under twice the height of Avalon and 388 Bridge.[18]

Design

The building is clad in glass and copper. SHoP has stated that the firm took inspiration from the design of the Dime Bank Building.[19]

Usage

The building will include approximately 550 condominiums and apartments, and the residences will encompass roughly 466,000 square feet.[1] There will be 140,000 square feet of commercial space, and the Dime Savings Bank will be converted to upscale retail and possibly an entrance to the new building.[1] The fifth floor will include an outdoor terrace.[14] The residential units are planned to be rental properties, and developers applied for tax breaks through the state's 421-a program in 2015, prior to that program's expiration, which would require dedicating at least twenty percent of the building's units as affordable housing.[20]

Financing

Fortress Investment Group provided a $115 million loan to JDS and Chetrit Group for the purchase of the site and for the refinancing of debt associated with the Dime Bank property.[21] It is unclear how much debt is currently associated with the property.[21]

See also

References

  1. 1 2 3 4 "340 Flatbush Ave Ext. Revealed, Brooklyn’s First Supertall Skyscraper". Retrieved 12 November 2015.
  2. ↑ Stulberg, Ariel (9 November 2015). "Brooklyn’s future tallest building revealed in new rendering". The Real Deal. Retrieved 26 December 2015.
  3. ↑ Staff, Curbed (9 November 2015). "First Look at Downtown Brooklyn's 1,000-Foot Supertall Tower". Curbed. Retrieved 25 December 2015.
  4. ↑ Mashayekhi, Rey (18 August 2015). "A look at Queens Plaza Park, soon to be the tallest NYC building outside Manhattan". The Real Deal. Retrieved 19 August 2015.
  5. ↑ Rosenberg, Zoe (5 August 2015). "1,000-Foot Tower Is Probably Coming to Downtown Brooklyn". Curbed. Retrieved 25 December 2015.
  6. ↑ Bindelglass, Evan (26 December 2015). "JDS Completes Dime Bank Purchase For Brooklyn Supertall". Curbed. Retrieved 26 December 2015.
  7. ↑ Geiger, Daniel (23 December 2015). "Developers close deal that allows Brooklyn's tallest tower". Crain's New York. Retrieved 26 December 2015.
  8. ↑ Geiger, Daniel (18 December 2014). "Brooklyn landmark could become $100M-plus buy". Crain's New York. Retrieved 26 December 2015.
  9. ↑ Chaban, Matt (9 June 2014). "At Junior’s Site, Bidders See Brooklyn, Too, as a City of Spires". The New York Times. Retrieved 26 December 2015.
  10. ↑ Elridge, Barbara (8 September 2015). "Tower Twice the Height of Brooklyn’s Tallest Is Probably Coming to Downtown Brooklyn". Brownstoner. Retrieved 26 December 2015.
  11. ↑ Corcoran, Cate (9 September 2009). "Junior’s Is Not Selling". Brownstoner. Retrieved 26 December 2015.
  12. ↑ Alberts, Hana (30 June 2014). "Brooklyn's New Tallest Tower, by SHoP, Will Sprout 775 Feet". Curbed. Retrieved 26 December 2015.
  13. ↑ Goldberger, Paul (1 March 2014). "Too Rich, Too Thin, Too Tall?". Vanity Fair. Retrieved 16 August 2015.
  14. 1 2 Feery, Chris (12 January 2016). "73-Story 340 Flatbush Extension Gets Even Taller". BisNow. Retrieved 1 February 2016.
  15. ↑ Baird-Remba, Rebecca (12 January 2016). "Brooklyn’s First Supertall at 340 Flatbush Avenue Extension Gets Even Taller". YIMBY. Retrieved 12 January 2016.
  16. ↑ Chaban, Matt (19 April 2016). "Proposal for Brooklyn’s Tallest Tower Is Approved". New York Times. Retrieved 20 April 2016.
  17. ↑ Bindelglass, Evan (19 April 2016). "Landmarks Approves Changes to Dime Savings Bank, Paving Way for Brooklyn’s Tallest Tower at 340 Flatbush Avenue Extension". YIMBY. Retrieved 20 April 2016.
  18. 1 2 Beyer, Scott (6 August 2015). "Brooklyn Might Finally Get A Real Skyscraper". Forbes. Retrieved 26 December 2015.
  19. ↑ Warerkar, Tanay (17 February 2016). "Brooklyn's Tallest Building Could Have As Many As 500 Rentals". Curbed. Retrieved 14 March 2016.
  20. ↑ Chaban, Matt A.V. (February 17, 2016). "73-Story Tower Would Be Brooklyn’s Tallest by Far". The New York Times. Retrieved February 18, 2016.
  21. 1 2 Balbi, Danielle (22 December 2015). "Iron Hound Secures $185M in Two NYC Debt Deals for Chetrit Group". Commercial Observer. Retrieved 26 December 2015.
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