The Kentile Floors sign on Ninth Street is in the process of being dismantled after remaining a neighborhood fixture for 65 years.
Many residents protested the prospect of eliminating the sign, saying that it is part of their home.
The building's owner has agreed to preserve the sign by donating it to the Gowanus Alliance with cooperation from Councilman Brad Lander's office.
The Gowanus Alliance has agreed to repair the letters and work with local officials to find a new location for the sign to live in the future.