Acquisition · Williamsburg
277 South 5th Street trades for $20.5M
- Amount
- $20.5M
- Type
- Acquisition
- Date
- Sept. 2026
277 South 5th Street, Brooklyn, NY
Recorded in NYC property records.
- Seller
- Havemeyer Owner LLC
- Buyer
- Dime Commercial Holdings LLC
- Lender
- Levon NY Dime LLC
- Seller
- Diamond Realty Investments
- Deed covers commercial units CU1, CU2 and CF; the retail units transferred in a separate $8 million deed.
- Commercial Observer describes the office portion as 95,000 square feet at the base of the Dime.
- Buyers financed with a $20 million acquisition loan from Levon Capital, per Commercial Observer.
- CBRE represented the seller; the buyer had no broker.
Overview
Dime Commercial Holdings LLC bought the commercial units at 277 South 5th Street in Williamsburg for $20.5 million, according to a deed dated Aug. 24, 2026 and recorded Sept. 4, 2026. The deed covers units CU1, CU2 and CF, and lists Havemeyer Owner LLC as the grantor.
Commercial Observer reported that the deal was completed in two separate transactions. The 95,000-square-foot office portion at the base of the Dime sold for $20.5 million, while the 55,000-square-foot retail space in the restored banking hall sold for $8 million in a separate deed.
The Dime is a 23-story, 177-unit residential building. Developers Tavros Capital and Charney Companies completed it in 2020 as part of a larger project that preserved the adjacent 1908 Dime Savings Bank. Electric vehicle company Revel is already an office tenant at the base of the building, according to Commercial Observer.
Commercial Observer identified the buyers as Joel Teitelbaum and Shimon Brach, who own several commercial and residential properties across New York City. The seller was Mitsubishi Corporation's Diamond Realty Investments, with Anthony Strauser, an executive vice president of residential at Diamond Realty, signing for the seller. A CBRE team led by Daniel Kaplan brokered the deal for the seller, and the buyer did not have broker representation.
The buyers financed their purchase through a $20 million acquisition loan from Levon Capital, per Commercial Observer.
The sale moves the commercial base of one of Williamsburg's newer residential towers to local private owners from a Mitsubishi subsidiary.
Parties Involved 6 recorded
Basis
Party 1 (grantor) on the ACRIS deeds 2026090300647002 and 2026090300647001.
Basis
Party 2 (grantee) on ACRIS deed 2026090300647002 for units CU1, CU2 and CF; also a borrower on the mortgage.
Basis
Party 2 (mortgagee) on ACRIS mortgage 2026090300647004.
Basis
Commercial Observer names it as the seller of the properties.
Basis
Commercial Observer reports a $20 million acquisition loan from Levon Capital.
Basis
Commercial Observer reports a CBRE team led by Daniel Kaplan brokered the deal for the seller.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Deed, doc 2026090300647002 — NYC Department of Finance (ACRIS)
- ACRIS Deed, doc 2026090300647001 — NYC Department of Finance (ACRIS)
- ACRIS Mortgage, doc 2026090300647004 — NYC Department of Finance (ACRIS)
- ACRIS Assignment of Leases and Rents, doc 2026090300647005 — NYC Department of Finance (ACRIS)
- Diamond Realty sells retail, office at Williamsburg's Dime — Commercial Observer