In order for JDS Development Group to build the new tallest tower outside Manhattan, it had to buy a beautiful, but short bank building next door. Now that has happened. Developers Michael Stern and Joseph Chetrit have completed their purchase of the Dime Savings Bank building at 9 DeKalb Avenue, according to Crain's New York Business. The $90 million purchase will allow the construction of a 1,000-foot-tall building at 340 Flatbush Avenue Extension, right next to Junior's.
The former bank building has 300,000 square feet of unused development rights and that will be transferred to the new tower, which will be designed by SHoP. As for the bank building, it will remain and be converted into retail and restaurant space, but also might serve as an entrance to the tower, the report said.
· Developers close deal that allows Brooklyn's tallest tower [Crain's]
· First Look at Downtown Brooklyn's 1,000-Foot Supertall Tower [Curbed]
· 340 Flatbush Ave Ext. Revealed, Brooklyn's First Supertall Skyscraper [YIMBY]
· All 340 Flatbush Avenue Extension coverage [Curbed]