9 DeKalb Avenue

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9 DeKalb Avenue
9DekalbI.jpg
9 Dekalb Avenue under construction on August 25, 2021.
Wikimedia | © OpenStreetMap
Alternative names340 Flatbush Avenue Extension
General information
StatusUnder Construction[1]
TypeMixed-use
Location9 DeKalb Avenue
Coordinates40°41′26″N 73°58′56″W / 40.69056°N 73.98222°W / 40.69056; -73.98222Coordinates: 40°41′26″N 73°58′56″W / 40.69056°N 73.98222°W / 40.69056; -73.98222
Construction started2018
Estimated completion2022[3]
Height
Roof1,066 feet (325 m)[2]
Technical details
Floor count73
Floor area555,734 sq ft (51,600 m2)
Design and construction
ArchitectSHoP Architects
Mowbray and Uffinger designed the original structure
DeveloperJDS Development

9 DeKalb Avenue (originally referred to as 340 Flatbush Avenue Extension) is an under-construction supertall mixed-use (primarily residential) skyscraper in Downtown Brooklyn, New York City by Michael Stern's JDS Development Group.[1][4][5] When completed it will become the tallest structure in New York City outside Manhattan, as well as the first supertall building in Brooklyn.[6][7]

Site[]

The structure will be in Downtown Brooklyn and within several blocks of the former tallest buildings in Brooklyn, Brooklyn Point and 11 Hoyt. Both were surpassed by 9 DeKalb Avenue in July 2021 when its height reached 721 feet.[8][9] The building is adjacent to other tall mixed-use developments, such as the three towers of City Point.

Design[]

A rendering of 9 Dekalb Avenue in Downtown Brooklyn.

The mixed-use skyscraper will incorporate the Dime Savings Bank building, designed by Mowbray and Uffinger, at its base.[10][11] The bank was designed in the Classical Revival style. The interior of the bank building is "remarkable"[12] and features large gilded Mercury-head dimes and twelve red marble columns supporting the rotunda; these were added in the 1931-32 expansion.[12][13] The bank building was designated a New York City Landmark on July 19, 1994.[14]

9 DeKalb Avenue's tower is clad in stone, bronze, and stainless steel.[15] The designer, SHoP Architects, has stated that the firm took inspiration from the design of the Dime Savings Bank Building, with the building's vertical features mirroring the bank's columns.[16] Gregg Pasquarelli, a principal at SHoP, has referred to the design as both "badass" and "quite elegant".[15]

9 DeKalb Avenue will include approximately 150 condominiums and 425 apartments, and the residences will encompass roughly 466,000 square feet (43,300 m2).[4] There will be 140,000 square feet (13,000 m2) of commercial space, and the Dime Savings Bank will be converted to upscale retail and possibly an entrance to the new building.[4] The fifth floor will include an outdoor terrace.[17] The residential units are planned to be rental properties, and developers applied for tax breaks through the state's 421-a tax exemption 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.[11]

History[]

The Dime Savings Bank Building at 9 DeKalb Avenue was built in 1906-08 and was designed by Mowbray and Uffinger. It was significantly enlarged by Halsey, McCormack and Helmer in 1931-32.[12] It was later owned by J.P. Morgan Chase and was used as a bank branch.[18] In 2004, the New York City Department of City Planning approved a significant rezoning for portions of Downtown Brooklyn, which resulted in significant expansion of office space and ground-floor retail, such as those at City Point.[19] The rezoning consists of "zoning map and zoning text changes, new public open spaces, pedestrian and transit improvements, urban renewal, [and] street mappings".[20] The bank building was subsequently sold for $90 million, and was first placed on the market in late 2014.[21]

Planning[]

9 Dekalb Avenue, looking north from Flatbush Avenue.

JDS and Joseph Chetrit's Chetrit Group finished acquiring the site in late 2015.[22] The Dime Savings Bank of New York Originally, developers planned to acquire the building occupied by Junior's, a cheesecake restaurant, to use its air rights.[23][24] However, Alan Rosen, the owner, turned down a $45 million buyout, as well as a later deal for less that would have set aside retail space in the new building for the restaurant.[25]

Plans for the structure were first filed in mid-2014, calling for a seventy-story, 775 foot building, also designed by SHoP Architects.[26] The building will mark the third collaboration between JDS and SHoP, after 111 West 57th Street and American Copper Buildings.[27][17]

In December 2015, 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.[28] In early 2016, new plans were released with a slight height extension and reduced space for retail.[29] Proposed modifications to the existing Dime Savings Bank structure were approved by New York City Landmarks Preservation Commission in April 2016, indicating support for the building's construction.[30] Changes include the removal of non-original additions to the structure and repairing damage to the building's marble and copper.[31]

Financing and construction[]

In February 2017, Bank OZK and Melody Finance issued a $135 million bridge and pre-development loan for the project.[32] The loan replaced Fortress's debt and previous funding from the Kushner Companies.[33][32] JDS invested an additional $60 million in equity in August 2018 to purchase Chetrit's stake in the property, raising their ownership of the project to 100%.[6] Construction began in mid-2018.[34] In November 2018, Silverstein Properties' debt fund Silverstein Capital was reported to be nearing a $240 million mezzanine loan for the project, in addition to $400 million in additional debt from a senior lender.[35] The loan closed in April 2019, along with $424.1 million in construction financing from Otéra Capital.[36]

As of November 2020, construction was underway, and the concrete core had reached 28 stories.[37] As of July 2021 the height of 9 DeKalb Avenue surpassed 721 feet, making it the tallest building in Brooklyn.[8][9]

See also[]

References[]

  1. ^ Jump up to: a b Clarke, Katherine.JDS, Chetrit land $135M loan for Brooklyn’s tallest tower . The Real Deal. February 24, 2017. Retrieved March 21, 2017.
  2. ^ "Form 7460-1 for ASN 2017-AEA-1896-OE". oeaaa.faa.gov. Retrieved January 3, 2019.
  3. ^ "9 DeKalb Avenue". The Skyscraper Center. Retrieved January 3, 2019.
  4. ^ Jump up to: a b c "340 Flatbush Ave Ext. Revealed, Brooklyn's First Supertall Skyscraper". November 9, 2015. Retrieved November 12, 2015.
  5. ^ Balbi, Danielle (August 3, 2018). "Chetrit Group out at 9 Dekalb Avenue, Brooklyn's tallest development". The Real Deal. Retrieved September 17, 2018.
  6. ^ Jump up to: a b Stulberg, Ariel (November 9, 2015). "Brooklyn's future tallest building revealed in new rendering". The Real Deal. Retrieved December 26, 2015.
  7. ^ Staff, Curbed (November 9, 2015). "First Look at Downtown Brooklyn's 1,000-Foot Supertall Tower". Curbed NY. Retrieved December 25, 2015.
  8. ^ Jump up to: a b "SHoP's supertall skyscraper 9 DeKalb becomes tallest building in Brooklyn". Dezeen. July 9, 2021. Retrieved August 19, 2021.
  9. ^ Jump up to: a b Young, Michael (June 28, 2021). "9 DeKalb Avenue Becomes Tallest Structure in Brooklyn". New York YIMBY. Retrieved August 19, 2021.
  10. ^ Rosenberg, Zoe (August 5, 2015). "1,000-Foot Tower Is Probably Coming to Downtown Brooklyn". Curbed. Retrieved December 25, 2015.
  11. ^ Jump up to: a b "73-Story Tower Would Be Brooklyn's Tallest by Far". The New York Times. February 17, 2016. ISSN 0362-4331. Retrieved May 9, 2018.
  12. ^ Jump up to: a b c White, Norval; Willensky, Elliot & Leadon, Fran (2010). AIA Guide to New York City (5th ed.). New York: Oxford University Press. ISBN 978-0-19538-386-7. p.588
  13. ^ New York City Landmarks Preservation Commission; Dolkart, Andrew S.; Postal, Matthew A. (2009). Postal, Matthew A. (ed.). Guide to New York City Landmarks (4th ed.). New York: John Wiley & Sons. ISBN 978-0-470-28963-1. p.240
  14. ^ Breiner, David. "Dime Savings Bank Designation Report" New York City Landmarks Preservation Commission (July 19, 1994)
  15. ^ Jump up to: a b Wachs, Audrey (July 6, 2016). "SHoP makes the Brooklyn skyline with a "brooding, elegant, and badass" supertall… There goes the neighborhood?". The Architect's Newspaper. Retrieved April 18, 2017.
  16. ^ Warerkar, Tanay (February 17, 2016). "Brooklyn's Tallest Building Could Have As Many As 500 Rentals". Curbed. Retrieved March 14, 2016.
  17. ^ Jump up to: a b Feery, Chris (January 12, 2016). "73-Story 340 Flatbush Extension Gets Even Taller". BisNow. Retrieved February 1, 2016.
  18. ^ Geiger, Daniel (December 23, 2015). "Developers close deal that allows Brooklyn's tallest tower". Crain's New York. Retrieved December 26, 2015.
  19. ^ Kevin Walsh. "Downtown Brooklyn". Forgotten New York. Retrieved August 16, 2015.
  20. ^ Downtown Brooklyn, New York City Department of City Planning. Accessed October 9, 2007.
  21. ^ Geiger, Daniel (December 18, 2014). "Brooklyn landmark could become $100M-plus buy". Crain's New York. Retrieved December 26, 2015.
  22. ^ Bindelglass, Evan (December 26, 2015). "JDS Completes Dime Bank Purchase For Brooklyn Supertall". Curbed. Retrieved December 26, 2015.
  23. ^ Chaban, Matt (June 9, 2014). "At Junior's Site, Bidders See Brooklyn, Too, as a City of Spires". The New York Times. Retrieved December 26, 2015.
  24. ^ Elridge, Barbara (September 8, 2015). "Tower Twice the Height of Brooklyn's Tallest Is Probably Coming to Downtown Brooklyn". Brownstoner. Retrieved December 26, 2015.
  25. ^ Corcoran, Cate (September 9, 2009). "Junior's Is Not Selling". Brownstoner. Retrieved December 26, 2015.
  26. ^ Alberts, Hana (June 30, 2014). "Brooklyn's New Tallest Tower, by SHoP, Will Sprout 775 Feet". Curbed. Retrieved December 26, 2015.
  27. ^ Goldberger, Paul (March 1, 2014). "Too Rich, Too Thin, Too Tall?". Vanity Fair. Retrieved August 16, 2015.
  28. ^ Balbi, Danielle (December 22, 2015). "Iron Hound Secures $185M in Two NYC Debt Deals for Chetrit Group". Commercial Observer. Retrieved December 26, 2015.
  29. ^ Baird-Remba, Rebecca (January 12, 2016). "Brooklyn's First Supertall at 340 Flatbush Avenue Extension Gets Even Taller". YIMBY. Retrieved January 12, 2016.
  30. ^ Chaban, Matt (April 19, 2016). "Proposal for Brooklyn's Tallest Tower Is Approved". New York Times. Retrieved April 20, 2016.
  31. ^ Bindelglass, Evan (April 19, 2016). "Landmarks Approves Changes to Dime Savings Bank, Paving Way for Brooklyn's Tallest Tower at 340 Flatbush Avenue Extension". YIMBY. Retrieved April 20, 2016.
  32. ^ Jump up to: a b Clarke, Katherine (February 24, 2017). "JDS, Chetrit land $135M loan for Brooklyn's tallest tower". The Real Deal.
  33. ^ Parker, Will (May 13, 2017). "Inside the universe of Kushner Companies". The Real Deal. Retrieved May 20, 2017.
  34. ^ Croghe, Loran (May 3, 2018). "The tallest building in Brooklyn begins its rise to the top". Brooklyn Eagle. Retrieved October 15, 2018.
  35. ^ "Brooklyn's tallest tower may soon rise thanks to massive Silverstein loan". The Real Deal. November 15, 2018.
  36. ^ Putzier, Konrad (April 23, 2019). "Brooklyn's Long-Stalled Tallest Tower Poised to Rise With New Loan". Wall Street Journal.
  37. ^ Young, Michael (November 9, 2020). "9 DeKalb Avenue Steadily Rising Toward 1,066-Foot Pinnacle in Downtown Brooklyn". New York YIMBY. YIMBY. Retrieved December 3, 2020.

External links[]

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