“The Dime” is a new, mixed-use complex in Williamsburg, Brooklyn. The 23-story project recently topped out, and is located at 209 Havemeyer Street. The building stands out among the surrounding blocks. It is easily visible when coming into the elevated Marcy Avenue subway station, and today, YIMBY has a full update on progress, as well as photos of the views from the top of the new tower.
209 Havemeyer Street
Williamsburg is an incredible tapestry of diverse architectural styles. One of the most prominent examples of its historic past is the Dime Savings Bank of Williamsburgh, located right by the first exit of the Williamsburg Bridge into Brooklyn, which ensures that hundreds of thousands of people see it every day. The building is about to be reborn thanks to Charney Construction and Development and Tavros Capital Partners, with a full restoration and refurbishment planned for the Bank, adjacent to which a new 22-story residential tower will also rise.
The redevelopment of the Dime Savings Bank in Williamsburg, Brooklyn, will result in one of the neighborhood’s tallest buildings, and today YIMBY has fresh renderings for the project, designed by Fogarty Finger Architects. Yesterday, The Real Deal reported that Charney Construction & Development and Tavros Capital Partners have acquired a $150 million loan to fund construction and renovation work on the historic bank and new 22-story tower. The developers purchased the site in March of 2016 for $80 million.
Back in May, YIMBY brought you news that the Dime Savings Bank development assemblage — located around but not including the two-story commercial building at 209 Havemeyer Street, in central Williamsburg — was hitting the market, and now it appears Tavros Capital and Charney Construction & Development are in contract to purchase the site. According to Commercial Observer, Dime is selling the 50,000 square-foot assemblage for $80 million, which could accommodate a mixed-use development of 230,500 square feet. The developers are expected to close on the purchase in early 2016.
Brownstoner reports the Dime Savings Bank building in central Williamsburg, which is only a portion of a 50,000 square-foot assemblage, is now on the market as a development site. The other properties included are 257-275 South 5th Street, 146-150 Marcy Avenue, 209 Havemeyer Street, and 262 South 4th Street, and a 230,500 square-foot mixed-use development could be accommodated. Dime Savings Bank is seeking to keep their retail location in the existing two-story building at 209 Havemeyer Street.