The tallest building in Brooklyn, NY, the Williamsburg Savings Bank Building, was acquired by the partnership of the Los Angeles-based Canyon-Johnson Urban Funds and The Dermot Co. of New York City. The landmark 35-story tower, known as One Hanson Place, will be renovated and converted into condominiums and ground-floor retail space. The purchase price was $70.75 million, or about $245 per square foot. According to published sources, the condo conversion is valued at $165 million.