![[The Dime Savings Bank in Downtown Brooklyn]JDS Development Group and the Chetrit Group,](https://i0.wp.com/jewishbusinessnews.com/wp-content/uploads/2016/02/The-Dime-Savings-Bank-in-Downtown-BrooklynJDS-Development-Group-and-the-Chetrit-Group.jpg?ssl=1 "The Dime Savings Bank in Downtown Brooklyn")
New York Times reveals new details of Brooklyn’s tallest building. The plans of the 1, 066 feet height tower in Downtown Brooklyn at 9 Dekalb Avenue, is a collaboration between two real estate moguls.
Michael Stern’s JDS Development Group and Joe Chetrit’s Chetrit Group, could now see the creation of nearly 500 apartments, 20 percent of which will be affordable, according to the Times.
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The 73-story tower will be located where Flatbush Avenue Extension intersects Dekalb Avenue. JDS and Chetrit purchased a five-story building located at 340 Flatbush Avenue Extension in 2014 for $46 million. Most of the tower will rise on this portion when the existing building is demolished.
According to NY Curbed, the developers also purchased the landmarked Dime Savings Bank building, also part of the triangular property in December last year for $90 million, and they intend for it to be used as retail, and connect to the tower. The transfer of 300, 000 square feet of air rights from the Dime building is what will allow the tower to rise as high as it will.
according to the Times, the bank building is what makes this a little bit complicated however. The developer wants part of the tower to rest on the rear portion of the bank, for which one of the walls of the bank will need to be demolished. But since the bank building is landmarked, the developer will have to seek the approval of the Landmarks Preservation Commission (LPC) before it can move forward. The tower can otherwise rise as is at the 340 Flatbush Avenue Extension property as developers don’t need any special approvals for the site.
New details for the project have been accompanied by a new render, for which the architects told the Times that they took inspiration from the design of the bank.
Developers Plan 1, 066-Foot Tower That Would Soar Above Brooklyn [NYTimes]
NY Curbed, by Tanay Warerkar, by Tanay Warerkar
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