The Real Deal New York

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 03:15PM

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.

The property could also be converted into a retail space, according to the publication. [Crain’s]Mark Maurer