Posted Dec 18, 2014, 10:07 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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Junior's may not be for sale, but there are more air rights at play...
http://forum.skyscraperpage.com/show...=210991&page=2
http://therealdeal.com/blog/2014/12/...brooklyn-bank/
JPMorgan Chase asking $100M-plus for ex-Brooklyn bank
Former site of Dime Savings holds hundreds of thousands of unused development rights
December 18, 2014
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JPMorgan Chase is putting the former Dime Savings Bank of New York in Downtown Brooklyn on the market for more than $100 million.
The landmarked bank hired a Massey Knakal Realty Services team led by Bob Knakal and James Nelson to market the neo-Roman building at 9 DeKalb Avenue, Crain’s reported. Chase is relocating its operations there to 490 Fulton Street, also in Downtown Brooklyn.
“This is an incredible asset that is one of the best buildings to hit the market in Brooklyn,” Knakal told Crain’s. “It holds a lot of exciting possibilities.”
The site boasts hundreds of thousands of unused development rights, which could be sold to the buyer of the Junior’s site at 386 Flatbush Avenue next door, as previously reported.
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http://www.crainsnewyork.com/article...-100m-plus-buy
B'klyn landmark could become $100M-plus buy
JPMorgan Chase puts old Dime Savings Bank, next door to Junior's, on the market. Air rights account for bulk of its value.
BY DANIEL GEIGER
DECEMBER 18, 2014
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Even more valuable than the building itself are the 285,000 square feet of development rights that come with the landmark. Residential construction in downtown Brooklyn is booming, and as Crain’s previously reported, the Dime Savings Bank building sits next to several potential development sites that could be the locations of some of the tallest towers in the borough.
Among those who could get a big height boost to their project is developer Michael Stern, who is planning to erect a residential tower at 340 Flatbush Ave. Extension that is eligible to receive additional air rights from the bank. The bank building also abuts the famous Brooklyn eatery Junior's, whose owner has floated the idea in recent months of selling the property. A buyer of that site could also utilize the bank's air rights to build a soaring tower.
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