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.
Today, YIMBY has a photo update on the site of the Dime Savings Bank of Williamsburgh. Foundation work is moving along for the soon-to-be 22-story residential building that will rise adjacent to the historic structure, in Williamsburg, Brooklyn.
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.
SoHo-based Tavros Capital is currently in the process of assembling a site with significant development potential on the corner of 23rd Street and 45th Avenue, in the Court Square section of Long Island City. Over the summer, the development firm purchased the townhouses at 45-03 23rd Street and 45-07 – 45-09 23rd Street for $11.25 million, and has since entered into contract on two additional properties, while waiting for two more. Plans include a mixed-use building with retail, office, and residential components, The Real Deal reported. The site can accommodate up to 167,000 square feet of mixed-use development as-of-right, though an additional 83,000 square feet of air rights could be acquired. Tavros expects the assemblage to cost between $30 and $35 million once complete.
Construction is underway on the ground floor of the 11-story, 55-unit mixed-use building being developed at 11-51 47th Avenue, in the Hunters Point section of Long Island City, located on the corner of 21st Street and Jackson Avenue. The construction can be seen in photos in a post by The Court Square Blog. Dubbed the Jackson, it will eventually measure 70,000 square feet. It will feature 1,226 square feet of retail space on the ground floor, followed by one- to four-bedroom condominiums on the floors above. On average, the apartments should measure 962 square feet apiece. Amenities are to include a fitness center, a children’s playroom, a residents’ lounge, a rooftop terrace, storage for bikes, and a 22-car parking garage. Charney Construction & Development, Ascent Development, and Tavros are the developers, while Fogarty Finger is behind the design. Completion is expected in early 2017.