Blesso opts for ground-up 27-story project on W’burg bank site

Developer initially planned 10-story conversion at 555 Broadway

New York /
Nov.November 22, 2016 03:40 PM

Blesso Properties filed plans for a new, 280,200-square-foot mixed-use building on the site of a former Lincoln Savings Bank branch in South Williamsburg, according to plans filed with the city’s Department of Buildings on Tuesday.

The developer appears to have scrapped its earlier plans for a conversion of the existing building.

The new 27-story building will rise at 555 Broadway near the J/M/Z South Williamsburg station. The proposed building, which extends along Broadway to Boerum Street, will house 226 residential units across 151,695 square feet of residential space, 126,410 square feet of commercial space and a 2,109-square-foot community facility.

The Garrison Architects-designed building will have offices on the second through seventh floors, five to twelve apartments on the upper floors, a rooftop terrace and parking.

Blesso TRData LogoTINY had previously filed alteration plans for an office-to-residential conversion of the 10-story building in October 2015. Those plans were not approved, and Blesso filed to amend them. The conversion would have made use of 98,000 of the lot’s 190,000 buildable square feet.

Blesso purchased the development site at 525-545 Broadway for $33 million in August 2015. Demolition plans for the existing four-story building have not been filed.


Related Articles

arrow_forward_ios
Blesso Properties puts Williamsburg dev site on the market

Blesso Properties puts Williamsburg dev site on the market

Blesso Properties puts Williamsburg dev site on the market
525bwayfinal-1-feat

Blesso plans resi conversion of Williamsburg bank

Blesso plans resi conversion of Williamsburg bank
525-545 Broadway in Williamsburg and Matt Blesso (inset)

Blesso buys Williamsburg site with 190K buildable sf for $33M

Blesso buys Williamsburg site with 190K buildable sf for $33M
Blesso Properties boss unloads Noho penthouse for $7.4M

Blesso Properties boss unloads Noho penthouse for $7.4M

Blesso Properties boss unloads Noho penthouse for $7.4M
Placeholder image

Dozens of developers vie to build micro units

Dozens of developers vie to build micro units
Placeholder image

Developer Blesso lists Noho penthouse for $9M

Developer Blesso lists Noho penthouse for $9M
Placeholder image

A peek inside Blesso’s 421 West 22nd Street

A peek inside Blesso’s 421 West 22nd Street
Placeholder image

Blesso invests in 3rd Ward expansion

Blesso invests in 3rd Ward expansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...