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Landmark Downtown Bklyn Site Sold

NEW YORK CITY—Formerly a bank and office space, the 70,000-square foot property features development rights that could more than double its size.

By Rayna Katz | Updated on January 22, 2016

NEW YORK CITY—A landmark property in Downtown Brooklyn has traded hands. The Dime Savings Bank of New York building at 9 DeKalb Ave. was sold for $90 million.

Originally built in the mid-1850s, the five-story iconic structure features approximately 70,000 gross square feet with about 315,000 square feet of transferable development rights. The air rights can be put to use at a neighboring development site or used to build out the site to roughly 450,000 square feet.

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