Tallest Building in Brooklyn Under Construction Gets $664.1M Loan

JDS Development Group received the loan for their 1,066-foot-tall building scheduled to be completed in 2022.

9 Dekalb Ave.

NEW YORK CITY—Michael Stern’s JDS Development received $664.1 million in construction financing for its residential skyscraper at 9 Dekalb Ave. in Brooklyn. Otéra Capital Inc. and Silverstein Capital Partners provided the loan for the multifamily rental tower, which will be the tallest building in the borough at 1,066 feet high. The building is scheduled to be completed in 2022.

A JLL team led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Mark Fisher, Matthew Collins and Sean Bastian negotiated the financing.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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