Fort Greene

What does it cost to own a piece of the iconic Williamsburgh Savings Bank tower?

Eye On Real Estate

November 23, 2016 By Lore Croghan Brooklyn Daily Eagle
Welcome to Williamsburgh Savings Bank (at right), a Brooklyn Cultural District icon. The new building at left is 300 Ashland Place. Eagle photos by Lore Croghan

It costs a pretty penny to live in this old savings and loan.

But then again, it ain’t just any old savings and loan.

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It’s the iconic Williamsburgh Savings Bank clocktower, a landmarked 1920s-vintage icon that’s arguably the best-known building in Brooklyn.

The former bank branch plus office building was converted into a residential property by the Dermot Company and retired basketball star Magic Johnson’s Canyon-Johnson Urban Funds. In 2005, they bought the Brooklyn Cultural District skyscraper for $70.75 million through an LLC from HSBC Bank USA, National Association, city Finance Department records indicate. There are now 178 residential condos, retail space in what was the banking hall and commercial space for dental and medical offices.

* Unit 21D is among the priciest apartments that have recently changed hands in the building. Tobias Barraud and Jiyoon Yeom sold it to David Eric Karp for $2.623 million in September, Finance Department records indicate.

* In August, Unit 23D also changed hands. Peter Lupoff and Kelly Stevens purchased it for $2.25 million, Finance Department records show. The seller, Kevin Langlais, had bought it from the condo converters for $1.205 million in 2010.

* In 2011, the developers held an auction to find buyers for the last six unsold apartments in the building. One of them was Unit 26A, a four-bedroom condo with a big terrace.

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Samarjit Marwaha purchased this unit at the auction for $2.805 million, Finance Department records indicate.

In 2013, he sold the apartment to Sourab Choudhury for $3.5 million, Finance Department records show.

Betcha the views from the terrace are really something.    


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