The Dime launches leasing with 2 months free on 18-month leases

By CityRealty Staff | From Brooklyn Monday, August 3, 2020

Renderings of The Dime courtesy of Fogarty Finger Archtiects

Like many of this spring’s events, the leasing launch of The Dime was postponed due to the coronavirus pandemic. The planned April launch date was scrapped, as were plans for mock newspapers promoting the new rental tower incorporating the landmarked Dime Savings Bank. But leasing as well as life goes on in New York - as the city reopens, leasing is underway with the building offering two months free rent on 18-month leases.

Earlier this year, an affordable lottery took place for units ranging from $2,116/month for studios to $3,150/month for three-beds. The current market-rate availabilities start at $2,680/month for studios, $3,310/month for one-beds, $5,250/month for two-beds, and $5,990/month for three-beds. The prices are net effective to reflect the rent concession, and above median rents in Williamsburg (figures per CityRealty listings), one of the earliest parts of Brooklyn to welcome a wave of amenity-rich rentals. Virtual tours of The Dime are available online.

The studio through three-beds’ interiors enjoy high ceilings, floor-to-ceiling windows, and mesmerizing views of the Manhattan skyline and Williamsburg Bridge. Kitchens are outfitted with white Caesarstone countertops, gray subway tile backsplash, cream-colored cabinetry, and Bosch appliance package. The baths are beautifully appointed with pearl-colored wall tiles, white Caesarstone countertops on the chestnut-colored vanities, and walk-in rain showers separated by glass partition. Select residents, including the two penthouses, offer private terraces.

Enlarge Image

At a time when outdoor space is appreciated as never before, many of The Dime’s amenities include indoor and outdoor offerings alike. The fifth floor is home to an indoor half basketball court, outdoor gaming terrace, indoor/outdoor fitness center, and sprawling terrace with grills, gardens, skyline views, and enough room for residents to enjoy the outdoors while safely social distancing. On the 22nd floor, the speakeasy-inspired Havemeyer Lounge opens up to outdoor seating with sweeping skyline views; indoor features include a vintage-inspired bar, elegant seating, and reproductions of artworks from Henry and Louisine Havemeyer’s Impressionist Art collection. Additional amenities include doorman, concierge, on-site parking, and bike room.

The Dime Savings Bank was declared an NYC landmark in March 2017 (All renderings via Fogarty Finger Architecture)

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).

Enlarge Image

Enlarge Image

Enlarge Image

Enlarge Image

But for some architecture aficionados, the building's greatest perk is the chance to live in a New York City Landmark. 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

In March 2018, 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 addition to Charney Construction and Development, they include Tavros Capital Partners and 1 Oak Street development.