Brooklyn, NY, July 7, 2025 — It was pitched as New York’s next architectural marvel: Brooklyn’s first supertall skyscraper, crowned with a historic bank dome and adorned with pools, terraces, and an exclusive private members’ club-style fitness center. That was the vision Michael Stern, of JDS Development, sold for 9 DeKalb Avenue, now known as The Brooklyn Tower.

But nearly three years after its projected completion, the reality falls short of the glossy renderings: unfinished interiors, inaccessible amenities, shuttered pools, and tenant complaints about shoddy finishes and a noisy service elevator.

📉 Unrealistic Plans and Delayed Completion

According to Wikipedia and various reports, construction was declared complete in 2022. Yet, the building only received its official Certificate of Occupancy on April 25, 2025—and even then, as an extension of a temporary permit. Until that point, residents moved in under Temporary Certificates of Occupancy (TCO), with many key amenities remaining off-limits.

For over two years, the building operated as a partial construction site, with low occupancy, delayed amenity rollouts, and ongoing disputes with creditors.

💰 Financial Woes and Loss of Control

The project was built on a precarious debt-heavy model. Stern promised investors “double-digit returns” and buyers a luxurious lifestyle, but:

• He relied on overly optimistic rental and sales revenue projections.
• In 2024, he defaulted on a $240 million mezzanine loan.
• As a result, JDS lost control of the project to Silverstein Capital Partners.

In short, the financial foundation collapsed, and the promises lost their value.

🏊‍♂️ The Mythical Pools No One Has Seen

The pools were a centerpiece of the marketing pitch:

• A 23-meter indoor pool.
• Three outdoor pools surrounding the historic Dime Savings Bank dome.
• A spa, lounges, showers, and terraces.

Yet, as one resident put it, “We’ve lived here for over a year and don’t even know if the water’s warm because the pools have never opened.” Despite vivid renderings and bold promises, the pools remained closed through 2023 and early 2025, with no confirmed opening date.

🏋️‍♂️ Life Time Fitness: A Three-Year Delay

The flagship Life Time fitness center, promised to span over 100,000 square feet, was slated to open in 2023. Instead:

• The opening has been pushed to mid-2026.
• The facility’s size has been cut to 80,000 square feet.
• Residents have been offered temporary memberships to off-site gyms.

🧱  Small Details, Big Problems

Even without pools or a fitness center, residents expected high-end living standards. Instead, they’ve faced daily frustrations:

• Noisy, vibrating elevators that frequently stall between floors. Cracks and chips in floor tiles and staircases.
• Peeling grout and paint in brand-new apartments.
• Malfunctioning intercoms and access systems, with FOB keys often failing.
• Unopened terraces and a “world’s highest dog run” that exists only in brochures.

As one tenant, part of the 421-a affordable housing program, wrote on Reddit: “The elevator floor shakes, you hear construction noise from the podium on the 50th floor, the pool’s locked, and the terrace is off-limits—but the monthly fee is still nearly $2,000.”

🧾 Band-Aid Fixes and Discounts

Silverstein Properties, now overseeing the project, has attempted damage control:

• Discounts on common charges.
• Temporary compensation for tenants.
• Off-site gym memberships.
• Promises to “complete everything by 2026.”

But as one resident noted, “They’re discounting the fact that we’re living in a construction zone. That’s not what we paid for.”

⚠️ When Hype Outshines Reality

The 9 DeKalb project is more than glass, concrete, and ambition—it’s a case study in Michael Stern’s approach: promise big, figure out delivery later.

Stern secured millions in funding, marketed the tower as complete in 2022, and then spent years finishing the podium, terraces, pools, and access systems—all while actively selling and leasing units in a building not fully approved for occupancy.

📌  Conclusion

The Brooklyn Tower stands as a symbol of marketing overreach. Instead of real estate, it’s an illusion of grandeur. Instead of a “city icon,” it’s an expensive work-in-progress with a TCO. Instead of an elite lifestyle, it offers rental discounts and creaking elevators.

Investors, tenants, and buyers all bought into the same formula: first the rendering, then the promise, then the reality. And the reality is always less.

✉️ Have you been involved with 9 DeKalb or had similar experiences with JDS Development projects? Contact us at contact@jdspulse.com.

📎 Sources: NYC DOB official documents, Curbed, Brooklyn Magazine, Reddit, resident testimonies, Life Time and Silverstein Properties press releases, 9 DeKalb resident petition on JDSPulse, JDSPulse analysis (July 2025).