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A blog from CityRealty (Links below will take you to the 6sqft site)

Features

Renderings of The Dime courtesy of Fogarty Finger Archtiects Renderings of The Dime courtesy of Fogarty Finger Archtiects
Last year, when construction topped out on The Dime, a new rental that incorporates Williamsburg's landmarked, Neo-Classical Dime Savings Bank into a new 23-story tower, developers had every reason to be optimistic. A rich architectural history is catnip to a certain class of renters, the building would have all the amenities the hip young New Yorker has come to expect, and it was well situated near local hot spots and the Marcy Avenue subway stop. Mock newspapers were planned for distribution in the subway in preparation for an April 1, 2020 leasing launch. "We always joked that unless the world blows up, we're in pretty good shape," developer Sam Charney told Bloomberg.
Only time will tell if that is an exaggerated or all too accurate way to describe the COVID-19 pandemic and the efforts to contain it. However, there is immediately no denying that it rippled out to affect many aspects of The Dime. The April leasing launch was postponed, and the fun promotional ideas were canceled. Many of the much-touted amenities would be off-limits in an environment where "social distancing" is now part of the lexicon.

Moreover, a study by the Center for an Urban Future shows that the restaurant and retail industries reflect 19% of employment in the outer boroughs. Even those lucky enough to hold onto their jobs cannot help but be affected by the closing of non-essential businesses and the subsequent effect on the economy. It remains to be seen how high the unemployment rate will rise and how much the appetite for pricey rentals will diminish in such an environment.
But New Yorkers are nothing if not resilient and adaptable, and The Dime's developers were forced to be even more so. The building's new marketing plan will call attention to building-wide WiFi, an essential for those working from home, and an acre of private green space with gardens, grills, sweeping views of the Williamsburg Bridge and Manhattan skyline, and room for residents to safely enjoy the outdoors.

The leasing launch has been bumped to May 15, past the predicted peak of virus cases. Douglas Elliman is handling the marketing and leasing, and prospective tenants may take online tours. Those who like what they see can arrange for a contactless visit involving an electronic key system and off-site virtual doorman.

“We know that New York City will come back strong.” - Sam Charney, Founder & Principal, Charney Construction & Development

The Dime The Dime Savings Bank was declared an NYC landmark in March 2017 (All renderings via Fogarty Finger Architecture)
277-South-5th-Street-02 Among the residential offering's many amenities is an expansive landscaped roof deck
Permits for The Dime call for a ground-floor healthcare facility and retail space, offices on floors 2-5, and apartments starting on the sixth floor to make the most of city, bridge, and river views. In addition to the roof deck, residents will have access to suite of amenities known as "The Dime Club," whose offerings include a gym, basketball court, game area, and a pair of lounges (one "VIP"), when the restrictions ease. Amenities will also include a central laundry room and 301 underground parking spots.
About a month ago, an affordable lottery took place for units ranging from $2,116/month for studios to $3,150/month for three-bedrooms. Market-rate apartments at The Dime are said to start around $2,500 and go up to over $6,500/month. For comparison, listings at neighboring rental The Williams start at $2,580/month (net effective with one month free on a 12-month lease).
 
 
 
 
Brooklyn apartments
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Brooklyn apartments
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Willliamsburg apartments
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NYC apartments
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Williamsburg skyline
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Fogarty Finger Architecture's design for the tower's facade gives the building a fresh, modern look, and Co-Founding Principal Chris Fogarty told CityRealty that the white terra cotta panels bring it into compliance with energy codes. At the same time, the design pays a respectful tribute to the original limestone bank, which was designed by Helmle & Huberty. The prominent firm was also responsible for other landmarks, including the Winthrop Park Shelter Pavilion and the Prospect Park Boathouse.

The bank was built between 1906-1908 at a crucial turning point in the neighborhood's history; the construction of the Williamsburg Bridge in 1903 brought population growth and a spur of new construction. More than a century later, its restoration and redevelopment took place in the midst of another Brooklyn building boom.

“It is remarkable that this building has managed to remain standing in spite of massive redevelopment aided by the City’s rezoning of this neighborhood.” - Patrick Waldo, Historic Districts Council

Just over two years ago, the Dime Savings Bank building was designated an official NYC landmark by the Landmark Preservation Commission and the proposed design for the adjacent 23-story tower was given the green light. And while these cases typically get contentious – especially when the prospect of a shiny, new (and expensive) development is involved – it was one of the rare instances that the landmark designation was supported by the developers. In additon to Charney Construction and Development, they include Tavros Capital Partners and 1 Oak Street development.
 
 
 
 
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Local Listings
373-South-4th-Street-1 373 South 4th Street via The Corcoran Group
348-South-4th-Street-1 348 South 4th Street via The Corcoran Group
379-Broadway-1 379 Broadway via Compass
420-Kent-Avenue-01 420 Kent Avenue via The Corcoran Group

Additional Info About the Building

 
Spacious 1 Bedrooms with outdoor space and in-residence w/d View Property
Luxury Homes in Midtown | Newly Renovated Studio-2BR Homes View Property
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