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See Williamsburg’s Dime Savings Bank’s luxury rental-filled future

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The landmark Brooklyn building will be redeveloped, and apartments will sprout behind it

Renderings courtesy Fogarty Finger

Nearly a year after plans were first announced, the building that will sprout from behind Williamsburg’s Dime Savings Bank building now has renderings. The new development will be known as The Dime, and will be a mash-up of the landmarked bank building and a new, 22-story tower. That addition will have 177 rental apartments, including two penthouses, and the overall project will come with an office and retail component as well.

The apartments here will be a mix of studios and one-bedrooms, and residents will be able to use a range of amenities including a basketball court, a yoga room, and a residents lounge on the top floor with—unsurprising, given its location—great views of Manhattan.

The bank building, meanwhile, will be restored. The drop ceilings and some of the finishes from the 1960s will be removed, while the existing columns will be spruced up, and the developers will pay special attention to the existing skylight in the space, to maximize light in this area.

The developers—a collaboration between Charney Construction and Development, Tavros Capital Partners, and 1 Oak Contracting—are hoping that this space will either function as retail, an office lobby or a showroom. They purchased the site for $80 million last year, and subsequently hired Fogarty Finger to design the new structure, which will use 263 South 5th Street as its address.

When creating the new look for this overall project, the architecture firm was inspired by Art Moderne architecture, and took inspiration from Frank Lloyd Wright’s Johnson Wax Building and the Starrett-Leigh building in Chelsea. The overall structure will be clad in white terra cotta, as a nod to the original bank building.

The project broke ground earlier this year, and construction is expected to wrap sometime in the spring of 2019.