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So, as I walked down Washington Ave today, I could not help but look at the Capital One branch located near Lincoln:
I thought to myself, Capital One is about to have two branches very close together. This one, and the one that is going in the building being constructed at the corner of Eastern Parkway and Franklin Ave:
http://www.brooklynian.com/discussion/35888/the-curious-case-of-341-eastern-parkway-aka-the-hole-/p1
I wonder if they are going to need both branches. With its high ceilings and excellent location, this location would be excellent for a very upscale restaurant; One which competed with the likes of Bar Corvo and the fancy place presently setting up shop in the Brooklyn Museum, Sauls.
...and then I wondered if someone at Capital One had a similar plan.
After all, one can only make so much money from ATM fees, low balance fees, and loans.
One could likely get a few million from a major investor looking for a trophy restaurant site.... 856 Washington
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Kind of reminds me of the space Walgreens moved in to on Nostrand and Fulton.
Building will be sold. Building is not land marked, and is reportedly in bad shape.
I now predict tear down for condos.
http://www.brooklynian.com/discussion/35888/the-curious-case-of-341-eastern-parkway-aka-the-hole-/p1
I am told the new location will open in May; I expect the Washington Ave location to close quickly afterward.
Edit: Nvm i see you're talking about Washington
http://www.brooklynian.com/discussion/comment/551550#Comment_551550
(said rumor was researched and found not to be credible)
http://www.brownstoner.com/blog/2014/08/bed-stuys-roosevelt-savings-bank-on-way-to-becoming-apartments/
Are we finally seeing some contraction after ten years of furious brick-and-mortar bank branch building?
I recall back in the early 2000's there was talk of bank branches going extinct as folks switched to online banking. Then with profitability suddenly linked to all the ancillary financial services (investment advice, sub-prime mortgages, etc.), the big US banks decided they needed a physical presence to sell those services to customers.
I predict a period of branch consolidations, replacing full retail bank locations with more ATM-only lobbies, retail partnerships (ie Chase/Duane Reade), and full-service automated kiosks (like the Bank of America setup at Flatbush and Bergen).
The pendulum has now swung the other way, and banks have been sued/accused of similar race/class effects for doing the opposite: Issuing excessive debt.
All of which is to say: yup. People can come to a few branches, it is not profitable to locate branches near them. Small businesses are one of the few reasons branches remain.
I have yet to see any real estate advertisements for this building, making me believe the transfer is being handled behind closed doors.
...That's ok with me, I don't have the money to buy it.
Discussion re: the building continued here: http://www.brooklynian.com/discussion/45033/what-will-actually-happen-to-the-former-capital-one-building-at-856-washington#Item_6
They left a note with directions to the EP/Franklin branch that only makes sense to drivers (via Bedford!) and reads like someone at corporate Googled it (does anyone in the neighborhood ever say to "North Service Road" when referring to Eastern Parkway?).
I'm assuming the new branch is now open.
Mod Note: For more info on what business may replace Capital One click here: http://www.brooklynian.com/discussion/44889/rumors-of-trader-joes-coming-to-the-old-capital-one-bank-building-on-washington