Status Proposed Location 9 DeKalb Avenue Height 325 m Floor area 5 ha | Type Mixed-use Estimated completion Q1 2019 Floors 73 Architecture firm SHoP Architects | |
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Alternative names 340 Flatbush Avenue Extension Management JDS Development
Chetrit Group Similar 111 West 57th Street, 125 Greenwich Street, 35 Hudson Yards, 520 West 41st Street, 80 South Street | ||
9 DeKalb Avenue, alternatively referred to as 340 Flatbush Avenue Extension, is a proposed supertall residential skyscraper planned for Brooklyn, New York by Michael Stern's JDS Development Group and Joseph Chetrit's Chetrit Group. 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.
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History
9 DeKalb will incorporate the historical Dime Savings Bank building, which JDS and Chetrit finished acquiring in late 2015. The Dime Savings Bank building was previously owned by J.P. Morgan Chase and was used as a bank branch. The building was sold for $90 million, and was first placed on the market in late 2014. Originally, developers planned to acquire the building occupied by Junior's, a cheesecake restaurant, to use its air-rights. 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.
Plans for the structure were first filed in mid-2014, calling for a seventy story, 775 foot building, also designed by SHoP Architects. The building will mark the third collaboration between JDS and SHoP, after 111 West 57th Street and American Copper Buildings.
In early 2016, new plans were released with a slight height extension and reduced space for retail. 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. Changes include the removal of non-original additions to the structure and repairing damage to the building's marble and copper.
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. If built as planned, the building will be slightly under twice the height of Avalon and 388 Bridge.
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.
Usage
The building will include approximately 550 condominiums and apartments, and the residences will encompass roughly 466,000 square feet. 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. The fifth floor will include an outdoor terrace. 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.
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. It is unclear how much debt is currently associated with the property.