Leases  ·  Office

Dime Savings Bank Taking 42K-SF at Forest City’s 1 Pierrepont Plaza


Brooklyn-based Dime Savings Bank of Williamsburgh has signed a 10-year, 42,000-square-foot deal at Forest City Ratner Companies1 Pierrepont Plaza.

The bank will be moving onto the entire eighth floor of the the building between Cadman Plaza West and Clinton Street, which is home to Democratic presidential front-runner Hillary Clintons campaign headquarters.

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Forest City Ratner, which is the New York division of  Forest City Realty Trust, had an asking rent in the $50s per square foot for the space, as The New York Post first reported.

“Dime Savings Bank, along with technology, financial, academic, media and information leaders, recognize Downtown Brooklyn’s ongoing renaissance and the innumerable benefits of the borough’s central business district,” Ali Esmaeilzadeh, a senior vice president at Forest City, said in a prepared statement.

Esmaeilzadeh and colleague Jesse Cooperman represented the landlord in-house alongside a CBRE team of Mary Ann Tighe, Keith Caggiano, Howard Fiddle and Evan Haskell.

The bank is moving administrative office spaces from it’s Williamsburg portfolio to 1 Pierrepont Plaza in March 2017. Dime Community Bancshares, the parent company of Dime Savings Bank, recently completed an $80-million sale of its buildings in Williamsburg to a consortium of Tavros Development Partners, Charney Construction & Development and 1 Oak Development, as Commercial Observer previously reported.

Forest City was excited to have the bank’s executive offices in its building because of the “long history and institutional quality of the bank,” William O’Brien of M.C. O’Brien, which represented Dime Savings Bank with Jack Britvan of Commercial Realty Services of Long Island, told CO.

The 750,000-square-foot 1 Pierrepont Plaza has just 10,000 square feet of space available. Cushman & Wakefield recently signed a 10-year, 15,115-square-foot deal to relocate its Brooklyn offices to a portion of the ninth floor of the building, as CO reported.