The clues to the future of 175 Broadway's landmark Williamsburgh Savings Bank have been coming together gradually since HSBC sold the building for $4.5 million last year. New owner Juan Figueroa also owns an East Williamsburg/Bushwick hostel, so our first thought was a hotel conversion. And according to the Brooklyn Paper, Figueroa did toy with that idea, and with the possibility of opening a restaurant. Instead he's decided to create an event space and banquet hall in a $3 million, two-year renovation. He tells the Brooklyn Paper, "I found this building in the gutter, and I picked it up. Nobody took care of it in 100 years and now I will." How so? For one thing, the bank's two massive safes will probably become a bar and a private party room. And the lot behind the bank, which Figueroa also owns, is zoned for residential and retail use, so there might be more goodies in store.
· Bank on it! New owner has plan for massive banquet space in old branch [BK Paper]
· Williamsburg Savings Bank coverage [Curbed]