Charney Construction & Development and Tavros Capital are planning to build a 22-story mixed-used building in South Williamsburg that is positioned to be one of the biggest high rises in the area, according to documents filed with the city yesterday.
The new building is named “the Dime,” for the 107-year-old Dime Savings Bank of Williamsburg building, which currently sits on the property and will be incorporated into the new design. The developers are going to retain the bank’s footprint on the ground floor, which will be converted into commercial space, and build some 175 residential units and about 100,000 square feet of office space above it. The development is located on South 5th Street, just off Havemeyer Street, near the base of the Williamsburg Bridge.
Tavros and Charney purchased the property in March of this year for $80 million, according to Commercial Observer. It was announced on Charney’s website that construction of the new building would begin in March of 2017. It is scheduled to be completed in Spring 2019.
The new development joins the ever-crowding field of Brooklyn high rises, including the 13-story luxury building nearby on South 1st Street and the 73-story supertall currently being planned around another old Dime Savings Bank branch building on Flatbush Avenue.
The upshot: get ready for 175 (at least) new residents traipsing up and down Bedford. Also, probably a new salad place or something?