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A Building Taller Than the ESB…in Brooklyn?!


Michael Stern’s JDS Development and the Chetrit Group are now the owners of Downtown Brooklyn’s 150-year-old Dime Savings Bank building. JDS and Chetrit paid $90M for the building, which comes with about 300k SF of development rights. The developers could use those rights to build a tower on the lot they already own next door, at 340 Flatbush Ave Ext. Crain's reports one source familiar with the acquisition said such a tower could be taller than the Empire State Building, which has a roof height of 1,250 feet. No building in NYC outside of Manhattan has ever reached a height of over 1,000 feet. The current plans on file for JDS’s ultra-luxe tower at 111 West 57th St (which is already being built by the tallest freestanding crane in NYC’s history) call for it to hit 1,428 feet. And like the Dime site, that project will integrate a historic, landmarked building into a project that’ll have a supertall condo tower as its centerpiece. Stay tuned, Brooklyn. [Crain's]