Wed, Dec 1, 2010
The Williamsburg Savings Bank has been sold to Juan Figueroa, a local hotelier, reports The New York Observer. Architect George Post, who also designed the New York Stock Exchange, designed the building. It is expected that Figueroa will turn the historic building into a luxury hotel, said The New York Observer. The Landmarks Preservation Commission is perceived to be a hurdle since they will have the final approval on any construction that take place both inside and outside the building. Figueroa bought the building for 4.5 million dollars, says The New York Observer.