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More Info on Blesso's Bank-to-Resi Conversion

New York

A month after Blesso Properties purchased the former site of the Lincoln Savings Bank in Williamsburg, more details have emerged about plans to convert the property into a mixed-use development.

Permits filed with the city on Thursday reveal an expansion to 10 stories and 36 residential units, a far cry from the 100 units originally rumored. The conversion will only be 98.3k SF, even though the site allows for over 190k buildable SF.

Garrison Architects will be designing the conversion, which will have 53k SF of retail and office space on the bottom four floors. Additionally, the building will also have a daycare, library, recreation terrace and fitness room. Blesso purchased 525-545 Broadway for $33M. [TRD]