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New Details Emerge in Williamsburg Bank Conversion Plans

At the tail end of the summer, Blesso Properties purchased 525-545 Broadway, the former site of the Lincoln Savings Bank in Williamsburg, for $33 million, announcing plans to convert the property into a mixed-use development. Now, a little over a month later, more details have emerged about what Blesso is planning for the site, from The Real Deal.

The Manhattan-based developer filed permits with the city on Thursday, which stated that the project will hold just 36 residential units—substantially fewer than the 100 units that were previously reported. And although the site offers over 190,000 buildable square feet, Blesso will keep things (relatively) small, expanding the building from four to 10 stories, for a total of 98,300 square feet. The Real Deal also reports that the project will house both retail and office space spread across 53,000 square feet on the first four floors (so, basically in the bank that currently exists). It will also have a daycare center on the first floor, a library, a reading room, a recreation terrace, and a fitness room.
· Blesso plans resi conversion of Williamsburg bank [TRD]
· All 525-545 Broadway coverage [Curbed]