Capital One Closing Greenpoint Savings Bank Branch in May

The Capital One branch inside of the historic Greenpoint Savings Bank building (807 Manhattan Ave.) will close on May 18th, according to a Greenpoint branch employee.

After May 18th, the nearest Capital One branch for people living in Greenpoint will be at 244 Bedford Ave. in Williamsburg.

There are currently no plans for another tenant to take up space in the front of the landmarked building, but in 2016, the Landmarks Preservation Commission approved redevelopment of the buildings’ rear, or annex, for the construction of condos on the Calyer and Lorimer Street sides.

A real estate investor named Jack Terzi purchased the Greenpoint Savings Bank building for $10 million from Slate Property Group in 2018, according to Crain’s NY. Slate purchased the bank and rear annex in 2015 for $15.2 million, but has held onto the annex for the redevelopment project.

Rebranded as “The Helm” (1080 Lorimer St.), 29 one-to-three bedroom “luxury residences” hit the market last fall ranging in price from $1 million to over $2.5 million.

A proposed large-scale apartment building  just across the street at 171 Calyer St., which is also within the Greenpoint Historic District, was denied by the city’s Landmarks Preservation Commission, according to YIMBY:

The LPC argued that the presented structure was too massive in comparison to surrounding buildings and vehemently rejected the proposed metal cladding at the upper levels.

The development would have replaced an existing single-story structure that once functioned as a supermarket and a fitness center. It remains to be seen how the project team will respond to criticisms from the community board and the LPC.

Construction is still in process at “The Helm,” where a complete façade replacement, one story rooftop addition and horizontal expansion is planned for the residential units.