A new application for a residential development on top of the parking lot behind Bank of America at 240 Greenwich Ave has been submitted to the Greenwich Planning and Zoning.

Design Development Architects, White Plains, NY for 240 GA LLC.

Design Development Architects, White Plains, NY for 240 GA LLC.

Design Development Architects, White Plains, NY for 240 GA LLC.
As part of the file, a letter from attorney John Tesei to P&Z director Pat LaRow on Dec 23 outlines the new application. The applicant is 240 GA, LLC (registered to JOHN J FARERI), owner of the property.
The project is referred to as J Lofts on West Elm Street, and is much smaller that previous iterations of the application.
The property is in the rear of Bank of America, a historic building originally constructed for the Greenwich Trust Company in 1916 in the Beaux Arts Style by architect Alfred Bosson with a classic façade and a shallow done. It is in the CGBR zone and partially in the CGB Zone.

The building at 240 Greenwich Ave was subject of a December 1918 article in Architecture magazine. The article provides a detailed description about the stylistic influences and considerations that gave rise to the handsome building.

The building at 240 Greenwich Ave was subject of a December 1918 article in Architecture magazine. The article provides a detailed description about the stylistic influences and considerations that gave rise to the handsome building.

The building is in the CGBR zone and partially in the CGB Zone.
The letter notes that applications for a separate residential building behind the bank were submitted four times over the past five years.
Those applications have all included a two level parking garage plus between three and six stories of residential units.
The largest one was for 60 units including below market units when the application was submitted under the town’s workforce housing reg, 6-110.
Also there were three applications submitted under the state affordable housing statute, 8-30g.
At the time, in 2022, Attorney Tesei asked the commission, “Whether you’re building 8 stories or 4 stories, is life going to come to an end? Do you think the town of Greenwich 50 years from now is going to look like it looks now?”
Also at the time, Tesei pointed out there were other tall buildings nearby, including 25 West Elm Street, though the commission pushed back, noting that nearby tall buildings were constructed decades ago.

At the time, neighbors said they had concerns about traffic, including Peter Malkin from 40 West Elm Street who said, “I think the real danger is traffic turning in and out of the garage for this property – on a street with three restaurants getting deliveries all day long, that have double parking to go into Myx, Elm Street Oyster House and Aux Delices. That’s more than just a parking problem. That’s a real danger.”
Also, in 2022 there was mention of legal issues with Harbor View Condominium Association next door.
In the new letter to Mr. LaRow, Attorney Tesei says, “For the past 10 months we have been working with the Board of Director of the Harborview Condominium Association, whose building at 35 West Elm Street is located to the west of the Property to explore possible compromise on the size of our client’s proposed Residential Building, the number of dwelling units int he building, the location of the building and other aspects of its final design and use.”
It goes on to refer to “a meeting of the minds” in summer 2024 as to the number of residential floors of the new building.
Today the application is for three stories, with 12 dwelling units, and the height of the building not to exceed 47.5 ft high, which is less than the height of the existing commercial building on the property and the Harborview Condo’s six story building to the west.
As part of the compromise the applicant also proposed to construct 2500 sq ft of 3rd floor office in the commercial building.

“Under our client’s proposed site plan, there will be a total of 77 parking spaces inclusive of ADA spaces located on the Property. This number satisfied the parking space requirements for the proposed new multi-family building and additional office space proposed for the Commercial Building,” Tesei said in his letter to Mr. Larow.
“In addition there is a reciprocal license agreement entered into in January of 1978 between the then owner of the Property and the owners of nearby properties located at 244 and 250 Greenwich Avenue allowing the property owner to park motor vehicles on those properties; there are at least 11 parking spaces available and utilized by our client pursuant to this license agreement,” Tesei said in his letter.
The applicant is seeking a site plan and special permit to have the entire property zoned CGBR, thereby eliminating the property being bisected with the two underlying zones, which complicated previous applications.
They want to relocate the property’s rear building line that now bisects the property to its western boundary line and overlay the property with a Historic overlay (HO) zone, which in turn would guarantee the preservation of the original historic building’s facade in perpetuity.
In fact, all of Greenwich Avenue has been identified as a historic district. The Historic District Commission endorsed the HO request unanimously on Nov 13, 2024.
The application is not yet scheduled for a P&Z meeting agenda.
Stay tuned.
See also: P&Z Watch: Few Fans for 40-Unit “Assisted Housing” Development Behind Bank of America July 2023 (40 units)
Potential Issues for Proposed 8-30g Affordable Housing Development at 240 Greenwich Ave Come to Light during P&Z Discussion March 2022 (8-30g for 60 units)
New Pre-App Submitted for 6-Story, 60 Unit Affordable Housing 8-30g: “J Lofts on West Elm” Jan 2022 (8-30g 60 units)
Neighbors Not Thrilled about Proposed Apartment Building behind Bank of America May 2021 (8-30g with 18 units)

View of the historic bank building at 240 Greenwich Ave from West Elm Street. March 2022 Photo: Leslie Yager