Williamsburg’s Dime Residences Trades to Korean Investor
The Dime Residences, a 23-story, 340,000-square-foot multifamily property at 275 S. 5th St. in Brooklyn’s Williamsburg neighborhood, has sold for $157.5 million. Tavros Capital Partners and Charney Companies sold the property to Korea-based NH Investment & Securities, according to sources.
A source familiar with the transaction says Cushman & Wakefield’s Adam Spies, Adam Doneger, Marcella Fasulo and Dan Obrien arranged the sale, which doesn’t include the property’s retail component. Cushman & Wakefield declined to comment.
Designed by Fogarty Finger, the Dime Residences includes the original home of the Dime Savings Bank at its base. It contains 177 rental units, with floorplans ranging from studio to three-bedroom.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).