The Real Deal New York

Tavros, partners file plans for 22-story building on Dime Savings Bank site

Developers plan to break ground on the Williamsburg property next year

July 26, 2016 04:40PM
By Katherine Clarke and Kyna Doles

263 South 5th Street in Williamsburg

263 South 5th Street in Williamsburg

A development site formerly owned by the Dime Savings Bank of Williamsburg is slated to be transformed into a 22-story mixed-use building with residential and commercial space.

A partnership between Tavros Development Partners, Charney Construction and 1 Oak Development filed a permit application with the city Tuesday for a new building at 263 South 5th Street. The plans call for 175 apartments across 120,444 square feet of residential space, 111,614 square feet of commercial space and a 980-square-foot community facility.

The developers are planning rental apartments for the residential component of the project, and office and retail for the commercial, according to Charney’s website. Construction of the project is slated to begin in March 2017, with completion set for the spring of 2019.

The development will also have a parking garage with space for 291 cars, permit filings show. Fogarty Finger is listed as the architect of record.

Charney did not immediately respond to requests for comment, while a Tavros TRData LogoTINY spokesperson declined to comment.

The developers paid $80 million for the site in March.

Dime will eventually relocate their back office space at the site, with the exception of the limestone-clad building where the bank will maintain a retail presence.

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