Brooklyn’s Tallest Tower Is A Go For 340 Flatbush Avenue Extension

It’s a green light for what will be Brooklyn’s tallest tower once it is complete, at 340 Flatbush Avenue Extension. As reported last month, the tower will be residential and stand over 1,000 feet tall — at least 225 feet taller than initial building plans submitted by JDS Development and SHoP Architects.

According to Crain’s, this skyscraper is being made possible by the $90 million sale of the historic Dime Savings Bank at 9 DeKalb Avenue to developers Michael Stern and Joe Chetrit, who are allowed to shift the unused development rights on the bank site to their existing development next door. That’s 300,000 square feet of space.

As for the century-old bank,

Stern and Chetrit plan to lease 9 DeKalb Ave. as retail and restaurant space. The building, with its decorative ceilings and marble columns, may also serve as a grand entrance to the tower. Stern has previously joined historic structures to new construction. He converted a former Verizon facility on West 18th Street into a luxury condo building called Walker Tower. At 111 W. 57th St., he is erecting a 1,400-foot ultraluxury condo tower that will preserve and incorporate the landmarked former Steinway & Sons piano showroom.

The tower is set for completion in 2019 and will have a total of 466,000 square feet of residential space over 90 floors and 550 units, and 140,000 square feet of commercial space.