A little over a month ago, 6sqft learned that Brooklyn’s first 1,000+ foot tower, designed by SHoP Architects, would rise a whopping 1,066 feet, amounting to 556,164 square feet of total space. It all started back in 2014 when developers Michael Stern and Joe Chetrit purchased 340 Flatbush Avenue Extension (a five-story mid-century building that takes up about one third of the triangular site in Downtown Brooklyn) for $46 million with plans to demolish it. Then, in December, they closed on the adjacent Dime Savings Bank building for $90 million, providing 300,000 square feet of air rights needed to construct the 73-story tower.
Along with a new rendering, a piece today in the Times reveals some additional details, namely that the supertall will have nearly 500 rental units, at least 20 percent of which will be affordable under the city’s 421-a program. But there’s one issue that could make things a little complicated…
The aforementioned Dime Savings Bank building is both an exterior and interior landmark, and though the developers plan to use the Beaux-Arts space for shops, their plans call for the demolition of one of the bank’s walls in order to rest part of the tower on its rear portion. Thanks to the air rights transfer, the height is within zoning regulations, but because of the historic status, all alterations to the bank building will need to go through the Landmarks Preservation Commission.
SHoP, however, seems well attuned to the historic nature of the site, noting that they drew inspiration from the bank building’s limestone columns. These are echoed in the bronze ribbons that run up the sides of the glassy tower. They also mirrored the bank’s footprint in the tower’s hexagonal shape. Michael Stern, founder and managing partner of JDS, told the Times, “We’re really excited to give Brooklyn a building that isn’t bashful, that isn’t shy. We want this project to encapsulate everything that is great about Brooklyn’s past and everything that is great about Brooklyn’s future.”
The first LPC hearing is scheduled for March 15th. If all goes according to plan, sales are expected to launch in mid 2018 with a completion date in 2019. Stay up-to-date on leasing and listings for 340 Flatbush Avenue Extension over at CityRealty.
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- All 340 Flatbush Avenue Extension coverage on 6sqft
Neighborhoods : Downtown Brooklyn