49 Chambers, formerly known as the Emigrant Industrial Savings Bank Building and 51 Chambers Street, is a residential building at 49–51
Chambers Street in the
Civic Center
A civic center or civic centre is a prominent land area within a community that is constructed to be its focal point or center. It usually contains one or more dominant public buildings, which may also include a government building. Recently, the ...
neighborhood of
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...
in
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. It was built between 1909 and 1912 and was designed by
Raymond F. Almirall in the
Beaux-Arts style
Beaux-Arts architecture ( , ) was the academic architectural style taught at the École des Beaux-Arts in Paris, particularly from the 1830s to the end of the 19th century. It drew upon the principles of French neoclassicism, but also incorporat ...
. The building occupies a slightly irregular lot bounded by Chambers Street to the south, Elk Street to the east, and Reade Street to the north.
49 Chambers was the largest bank building in the United States upon its completion. It was the first
skyscraper
A skyscraper is a tall continuously habitable building having multiple floors. Modern sources currently define skyscrapers as being at least or in height, though there is no universally accepted definition. Skyscrapers are very tall high-ris ...
to use the "H" layout, which provided light and air to more parts of the building. The basement through second floor fill the entire lot, while the third through fifteenth floors contain the "H" layout and are designed to resemble a pair of towers. The facade is made largely of
Indiana Limestone
Indiana limestone — also known as Bedford limestone in the building trade — has long been an economically important building material, particularly for monumental public structures. Indiana limestone is a more common term for Salem Limestone, ...
, as well as some brick and granite. Inside, the first and second floors constitute a former banking hall, used as an event space. The upper floors were used as offices before being converted to 99 residential
condominium
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...
s.
The current building is the third built by the
Emigrant Savings Bank
Emigrant Bank (formerly Emigrant Savings Bank) is a private American financial institution. It is the oldest savings bank in New York City and it was the ninth-largest privately owned bank in America in 2012, with assets of $8.1 billion. As of June ...
on the same site; the bank had previously erected structures in 1858 and 1885–1887. 49 Chambers' banking hall was occupied by the bank until 1969, while office tenants occupied the upper floors. The building was subsequently owned by the
government of New York City
The government of New York City, headquartered at New York City Hall in Lower Manhattan, is organized under the New York City Charter and provides for a mayor-council system. The mayor is elected to a four-year term and is responsible for the ...
until 2013, and it was converted to condominiums in 2017. 49 Chambers was added to the
National Register of Historic Places
The National Register of Historic Places (NRHP) is the United States federal government's official list of districts, sites, buildings, structures and objects deemed worthy of preservation for their historical significance or "great artistic v ...
in 1982, and both the exterior and the first floor interior were designated
New York City landmarks
These are lists of New York City landmarks designated by the New York City Landmarks Preservation Commission:
* New York City Designated Landmarks in Manhattan:
** List of New York City Designated Landmarks in Manhattan below 14th Street
** List o ...
in 1985.
Site
49 Chambers is in the
Civic Center
A civic center or civic centre is a prominent land area within a community that is constructed to be its focal point or center. It usually contains one or more dominant public buildings, which may also include a government building. Recently, the ...
neighborhood of
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...
, just north of
City Hall Park
City Hall Park is a public park surrounding New York City Hall in the Civic Center of Manhattan. It was the town commons of the nascent city of New York.
History
17th century
David Provoost was an officer in the Dutch West India Company. Hi ...
. It has frontage along
Chambers Street to the south and Reade Street to the north; in addition, 49 Chambers faces a parking lot and Elk Street to the east, and
280 Broadway
280 Broadway – also known as the A.T. Stewart Dry Goods Store, the Marble Palace, and the Sun Building – is a seven-story office building on Broadway, between Chambers and Reade Streets, in the Civic Center neighborhood of Lower Manhattan i ...
to the west. Other nearby buildings and locations include the
Broadway–Chambers Building
The Broadway–Chambers Building is an 18-story office building at 277 Broadway, on the northwest corner with Chambers Street, in the Civic Center and Tribeca neighborhoods of Manhattan in New York City. Completed by 1900 to designs by architec ...
and
287 Broadway to the west; the
Ted Weiss Federal Building
The Ted Weiss Federal Building, also known as the Foley Square Federal Building, is a 34-story United States Federal Building at 290 Broadway in the Civic Center neighborhood of Lower Manhattan in New York City. Opened in 1994, the building was ...
and
African Burial Ground National Monument
African Burial Ground National Monument is a monument at Duane Street and African Burial Ground Way (Elk Street) in the Civic Center section of Lower Manhattan, New York City. Its main building is the Ted Weiss Federal Building at 290 Broadway. ...
to the north; the
Surrogate's Courthouse
The Surrogate's Courthouse (also the Hall of Records and 31 Chambers Street) is a historic building at the northwest corner of Chambers and Centre Streets in the Civic Center of Manhattan in New York City. Completed in 1907, it was design ...
to the east; and the
Tweed Courthouse
The Tweed Courthouse (also known as the Old New York County Courthouse) is a historic courthouse building at 52 Chambers Street (Manhattan), Chambers Street in the Civic Center, Manhattan, Civic Center of Manhattan in New York City. It was ...
and
New York City Hall
New York City Hall is the Government of New York City, seat of New York City government, located at the center of City Hall Park in the Civic Center, Manhattan, Civic Center area of Lower Manhattan, between Broadway (Manhattan), Broadway, Park R ...
, within City Hall Park, to the south. The site measures on Chambers Street and on Reade Street, with a depth of .
The ground slopes downward from north to south; the original ground elevation was below Reade Street and close to sea level. The surrounding area contains evidence of the interment of individuals, mostly of African descent, and some of these corpses may remain under the Emigrant Savings Bank Building site. Within the area, a frame church at 47 Chambers Street was built in 1801 by the
Presbyterian Church in the United States of America
The Presbyterian Church in the United States of America (PCUSA) was the first national Presbyterian denomination in the United States, existing from 1789 to 1958. In that year, the PCUSA merged with the United Presbyterian Church of North Americ ...
. The frame church was replaced with a brick church in 1818.
The current building is the third erected by the bank on the site of the churches and burial ground.
Architecture
49 Chambers was built from 1909 to 1912 and was designed by
Raymond F. Almirall in the
Beaux-Arts style
Beaux-Arts architecture ( , ) was the academic architectural style taught at the École des Beaux-Arts in Paris, particularly from the 1830s to the end of the 19th century. It drew upon the principles of French neoclassicism, but also incorporat ...
.
It was built by contractor Charles T. Wills Inc.
The of steel was supplied by Post and McCord; the foundations were made by the O'Rourke Engineering and Construction Company; and the brick was supplied by the Harbison Walker Refractories Company.
The building is tall with 17 above-ground stories.
At the time of completion, it was the largest bank building in the United States.
The Emigrant Building's exterior is made mostly of
Indiana Limestone
Indiana limestone — also known as Bedford limestone in the building trade — has long been an economically important building material, particularly for monumental public structures. Indiana limestone is a more common term for Salem Limestone, ...
, with granite at the lowest stories.
The first three stories fill the whole lot, while the remaining stories utilize an "H" layout, creating "
light courts" to increase natural light exposure.
At the time the Emigrant Savings Bank Building was constructed, skyscraper developers in New York City were generally looking for layouts that could maximize naturally-lit floor space. Before the Emigrant Savings Bank Building's completion, developers frequently bought surrounding low-rise buildings to preserve their structures' views; alternatively, architects would design the upper floors to be smaller than the lower floors to compensate for large rooftop
cornice
In architecture, a cornice (from the Italian ''cornice'' meaning "ledge") is generally any horizontal decorative moulding that crowns a building or furniture element—for example, the cornice over a door or window, around the top edge of a ...
s.
Facade
The facade is set atop a raised basement containing a stone
course. On the Chambers Street
elevation
The elevation of a geographic location is its height above or below a fixed reference point, most commonly a reference geoid, a mathematical model of the Earth's sea level as an equipotential gravitational surface (see Geodetic datum § Vert ...
, at the first and second floors, rusticated granite
piers Piers may refer to:
* Pier, a raised structure over a body of water
* Pier (architecture), an architectural support
* Piers (name), a given name and surname (including lists of people with the name)
* Piers baronets, two titles, in the baronetages ...
and
engaged column
In architecture, an engaged column is a column embedded in a wall and partly projecting from the surface of the wall, sometimes defined as semi- or three-quarter detached. Engaged columns are rarely found in classical Greek architecture, and then ...
s subdivide the facade into nine bays. There is a double-height window in each bay; on the six outermost bays, there are
swags beneath the windows and a stylized
keystone above them. The primary entrance is in the central bay and contains a granite surround underneath an ornate arched
pediment
Pediments are gables, usually of a triangular shape.
Pediments are placed above the horizontal structure of the lintel, or entablature, if supported by columns. Pediments can contain an overdoor and are usually topped by hood moulds.
A pedimen ...
with the word . The secondary entrances on both ends contain a simpler granite surround, with the street address above the door. There is an
entablature
An entablature (; nativization of Italian , from "in" and "table") is the superstructure of moldings and bands which lies horizontally above columns, resting on their capitals. Entablatures are major elements of classical architecture, and ...
above the second floor, which is interrupted by a plaque of the bank's name in the three center bays. A stepped pediment runs above the second floor, and a large
coat of arms
A coat of arms is a heraldry, heraldic communication design, visual design on an escutcheon (heraldry), escutcheon (i.e., shield), surcoat, or tabard (the latter two being outer garments). The coat of arms on an escutcheon forms the central ele ...
sits atop the pediment in the central bay.
There are also three entrances on Reade Street. The center entrance contains a granite surround topped by the word , while the smaller entrances on either end are topped by their street addresses. The first and second floors of the Reade Street side are divided by brick
pilaster
In classical architecture
Classical architecture usually denotes architecture which is more or less consciously derived from the principles of Greek and Roman architecture of classical antiquity, or sometimes even more specifically, from the ...
s into seven bays, with the central bay being wider than the others. The piers support a plain
frieze
In architecture, the frieze is the wide central section part of an entablature and may be plain in the Ionic or Doric order, or decorated with bas-reliefs. Paterae are also usually used to decorate friezes. Even when neither columns nor ...
above the second floor, with the bank's name in the center. A small pediment protrudes above the central bay.
The upper floors contain the "H"-shaped plan and are designed to resemble a pair of three-bay-wide towers on both the Chambers and Reade Street sides. The windows facing the streets are rectangular, while the windows facing the light courts are progressively rounded and angled toward the interior of the light courts. There are nine bays facing the light court on Chambers Street and seven facing the Reade Street light court.
The third floor is treated as a "transitional" story and contains windows connected by geometric designs. The following ten floors, between the fourth and the thirteenth stories, consist of square-headed, copper-framed windows set back slightly between limestone piers. The fourteenth floor, another "transitional" story, sits atop a small cornice, and the windows are flanked by brackets supporting a much larger cornice. The fifteenth floor is designed as an attic with
dormer
A dormer is a roofed structure, often containing a window, that projects vertically beyond the plane of a pitched roof. A dormer window (also called ''dormer'') is a form of roof window.
Dormers are commonly used to increase the usable space ...
s. Heavy pediments atop the ends of both towers contain bee motifs evocative of the
Barberini mercantile family, as well as large stone carvings of eagles and urns.
The western and eastern walls are relatively plain brick walls with few windows.
These walls contain painted signs with the bank's name, which date from the 1960s.
Interior
49 Chambers initially had a banking hall on the first and second floors, and was split up into office space above the second floor.
Since its 2017 residential conversion, the building has had 99
condominium
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...
apartments, ranging from one to three bedrooms.
Each unit contains at least .
Entrances to the building's residential condominiums are on Chambers and Reade Streets.
49 Chambers'
foundation
Foundation may refer to:
* Foundation (nonprofit), a type of charitable organization
** Foundation (United States law), a type of charitable organization in the U.S.
** Private foundation, a charitable organization that, while serving a good cause ...
is carried upon
caissons, extending to the layer of gravel below the curb. The cellars extend deep. The floors carry a load of at the ground floor and basement, and on the upper floors. The floors are made of segmental
terracotta
Terracotta, terra cotta, or terra-cotta (; ; ), in its material sense as an earthenware substrate, is a clay-based ceramic glaze, unglazed or glazed ceramic where the pottery firing, fired body is porous.
In applied art, craft, construction, a ...
, while the ceilings are hung below the floor slabs. All columns below the first floor, except for the side wall columns, are filled with concrete. Each interior column is fireproofed with of concrete held in place by of brickwork.
The basement contains several resident amenities, such as a residents' lounge, swimming pool, gym, steam room, sauna, and virtual golf simulator.
The basement also has a "speakeasy style" dining room in a former vault. As built, 49 Chambers had three vaults, but two were removed during the building's residential conversion. There is also a residents' rooftop deck, covering .
As built, the Emigrant Savings Bank Building contained ornamental bronze staircases.
Banking hall
The first floor, formerly the banking hall, contains ceilings high, marble floors and walls, and floor-to-ceiling windows.
It is aligned on a largely north–south axis; anterooms, originally used as officers' quarters, extend west and east from the southern end of the banking room.
The interior of the banking hall is made of Arena Pola limestone blocks brought from
Istria
Istria ( ; Croatian language, Croatian and Slovene language, Slovene: ; ist, Eîstria; Istro-Romanian language, Istro-Romanian, Italian language, Italian and Venetian language, Venetian: ; formerly in Latin and in Ancient Greek) is the larges ...
.
Since conversion, the banking hall has contained a three-bedroom "model apartment" as well as a separate event space.
The banking hall is accessed from the central doorway on Chambers Street, which leads to a foyer with marble geometric-patterned floors. A curved marble screen, containing three sets of revolving doors, separates the foyer and the banking hall, and is faced with polished limestone on the banking hall side.
Anterooms extend west and east, while the main banking hall extends north, nearly the whole length of the buildings. The walls of the anterooms contain panels with Greek fret designs, as well as bronze plaques with the bank's name and the dates of the bank's founding and the building's year of completion. The northern end of the banking room contains a marble staircase descending to the central doorway on Reade Street.
The main section of the banking hall is rectangular in plan.
On the western and eastern walls, the banking hall had marble-and-iron cages for
bank teller
A bank teller (often abbreviated to simply teller) is an employee of a bank whose responsibilities include the handling of customer cash and negotiable instruments. In some places, this employee is known as a cashier or customer representative. ...
s.
Two mezzanines, enclosed within frosted glass and ornamental bronze, run atop the tellers' cages. The tops of the walls contain an elaborate cornice, which is interrupted at some places by pilasters within the walls. The ceiling is supported by six pairs of large
piers Piers may refer to:
* Pier, a raised structure over a body of water
* Pier (architecture), an architectural support
* Piers (name), a given name and surname (including lists of people with the name)
* Piers baronets, two titles, in the baronetages ...
, as well as several minor piers on each side; all the piers are attached to the walls, except for the four freestanding piers in the center. At the tops of the piers, arched ribs divide the ceiling into three main parts.
The ceiling contains large oval
skylight
A skylight (sometimes called a rooflight) is a light-permitting structure or window, usually made of transparent or translucent glass, that forms all or part of the roof space of a building for daylighting and ventilation purposes.
History
Open ...
s made of
stained glass
Stained glass is coloured glass as a material or works created from it. Throughout its thousand-year history, the term has been applied almost exclusively to the windows of churches and other significant religious buildings. Although tradition ...
, which depict allegorical figures in various industries.
On either side of the banking hall, there are smaller plain-vaulted ceiling sections with rosettes and overhanging chandeliers.
The large girders spanning the first floor are enclosed with concrete averaging thick.
History
Previous structures
The
Emigrant Bank
Emigrant Bank (formerly Emigrant Savings Bank) is a private American financial institution. It is the oldest savings bank in New York City and it was the ninth-largest privately owned bank in America in 2012, with assets of $8.1 billion. As of June ...
was organized in 1850 by Roman Catholic Archbishop
John Hughes and the Irish Emigrant Society, with the purpose of protecting the savings of Irish immigrants newly arrived in the city.
The bank initially occupied a leased property at 51 Chambers Street. In 1858, the Emigrant Bank demolished the structure to create its first new building on the site.
The bank survived the
Panic of 1873
The Panic of 1873 was a financial crisis that triggered an economic depression in Europe and North America that lasted from 1873 to 1877 or 1879 in France and in Britain. In Britain, the Panic started two decades of stagnation known as the "Lon ...
and grew rapidly in the subsequent decade, purchasing an adjacent building at 49 Chambers Street in 1882.
Three years after the purchase, the bank commissioned William H. Hume and Little & O'Conner to build an eight-story building at the same location.
The second bank building, opened in April 1887, was described as being fireproof, with brick floors, iron structural beams, fire-clay partitions, and marble ceilings and walls. The granite facade,
rusticated at the base, was topped by a
mansard roof
A mansard or mansard roof (also called a French roof or curb roof) is a four-sided gambrel-style hip roof characterised by two slopes on each of its sides, with the lower slope, punctured by dormer windows, at a steeper angle than the upper. The ...
.
Construction
In September 1907, the Century Realty Company and Alliance Realty Company sold the lots between 43 and 47 Chambers Street for about $1 million in cash.
These lots contained a five-story building that the Russell & Erwin Manufacturing Company had occupied "for many years";
the company had sold their structure to the real-estate companies in 1906 and was planning to move elsewhere.
Emigrant Bank was announced as the buyer in October 1907.
Almirall was hired to design the new bank building, and started devising plans in 1908. The bank intended to hold the building as an investment.
The start of the project was delayed due to uncertainty over the site of the
Manhattan Municipal Building
The David N. Dinkins Municipal Building (originally the Municipal Building and later known as the Manhattan Municipal Building) is a 40-story, building at 1 Centre Street, east of Chambers Street, in the Civic Center neighborhood of Manhatt ...
.
The site bounded by Broadway and Reade, Centre, and Chambers Streets had periodically been proposed for the Municipal Building's site. By 1908, the city decided to erect the Municipal Building one block east of the Emigrant Bank site. Construction on the new Emigrant Savings Bank Building started by August 1909.
During construction, large cracks developed in the old structure, which was subsequently shored up. The building was completed by 1912.
Bank and office use
Bank ownership
Emigrant Savings Bank initially took up the banking hall, while the other floors were rented out.
The
New York Supreme Court
The Supreme Court of the State of New York is the trial-level court of general jurisdiction in the New York State Unified Court System. (Its Appellate Division is also the highest intermediate appellate court.) It is vested with unlimited civ ...
announced in March 1912 that it would take up the 13th floor and half of the 12th floor at the Emigrant Savings Bank Building. The Supreme Court, which had a shortage of space in the Tweed Courthouse (then known as the New York County Courthouse), would have chambers measuring in the Emigrant Savings Bank Building, as well as a judicial library. Another early tenant was the
Associated Press
The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspa ...
, which moved from the
Western Union Telegraph Building
The Western Union Telegraph Building was a building at Dey Street and Broadway in the Financial District of Manhattan in New York City. The Western Union Building was built with ten above-ground stories rising . The structure was originally d ...
in 1914. Meanwhile, Emigrant Savings Bank had seen an increase in deposits in the years after its new building was completed. In 1931, the bank started a safe-deposit service, adding new vaults in the building's basement.
In 1964, the
government of New York City
The government of New York City, headquartered at New York City Hall in Lower Manhattan, is organized under the New York City Charter and provides for a mayor-council system. The mayor is elected to a four-year term and is responsible for the ...
received authorization to buy the Emigrant Savings Bank Building and several surrounding plots, which would be demolished to make way for a new Civic Center municipal building. Three years later, the city government notified Emigrant Savings Bank that the building was to be demolished. The bank closed its Chambers Street location in 1969, moving to a temporary location on Broadway. The redevelopment plans were ultimately scrapped due to the
1975 New York City fiscal crisis, but the city retained ownership of the Emigrant Savings Bank Building.
City government ownership
After the city government took over the Emigrant Savings Bank Building, the upper floors were used by several city agencies.
An
off-track betting
Off-track betting (or OTB; in British English, off-course betting) is sanctioned gambling on horse racing outside a race track.
U.S. history
Before the 1970s, only the state of Nevada allowed off-track betting. Off-track betting in New York was ...
booth opened at the building in 1971, after
off-track betting in New York
In the U.S. state of New York, off-track betting on horse racing is offered by five regional, government-owned corporations. As of 2014, the five operators had a total of 89 betting parlors and 5 tele-theaters around the state. They accepted a tot ...
was legalized. The banking hall became the quarters of the
New York City Parking Violations Bureau
The New York City Department of Finance (DOF) is the revenue service, taxation agency and recorder of deeds of the government of New York City. Its Parking Violations Bureau is an administrative court that adjudicates parking violations, while its ...
starting in 1973. The building also housed the Satellite Academy High School for two decades until 1999, when the city government forced the school to move elsewhere.
The Municipal Service Administration requested $3.25 million in 1974 to renovate the Emigrant Savings Bank Building. The city agencies in the building lacked sufficient space, but the Emigrant Savings Bank Building was not renovated at the time because the Civic Center development was considered to be on hold, rather than formally canceled.
By 1978, the
New York City Department of Buildings
The New York City Department of Buildings (DOB) is the department of the New York City government that enforces the city's building codes and zoning regulations, issues building permits, licenses, registers and disciplines certain construction tra ...
planned to renovate the main banking hall, removing much decorative detail in the process.
Paul Goldberger
Paul Goldberger (born in 1950) is an American author, architecture critic and lecturer. He is known for his "Sky Line" column in ''The New Yorker''.
Biography
Shortly after starting as a reporter at ''The New York Times'' in 1972, he was assign ...
, architecture writer for ''The New York Times'', criticized the plans, calling the banking hall "irreplaceable" and "the one real asset that this near-bankrupt city has". Following opposition to the proposal, the city subsequently dropped the renovation plans.
By 1994, the building was described as dilapidated. After the
September 11 attacks
The September 11 attacks, commonly known as 9/11, were four coordinated suicide terrorist attacks carried out by al-Qaeda against the United States on Tuesday, September 11, 2001. That morning, nineteen terrorists hijacked four commercia ...
in 2001, an aid center was opened in the Emigrant Savings Bank Building in 2002, moving from Pier 94 on the
Hudson River
The Hudson River is a river that flows from north to south primarily through eastern New York. It originates in the Adirondack Mountains of Upstate New York and flows southward through the Hudson Valley to the New York Harbor between N ...
. The bank building was used for the filming of movies such as
Spike Lee
Shelton Jackson "Spike" Lee (born March 20, 1957) is an American film director, producer, screenwriter, and actor. His production company, 40 Acres and a Mule Filmworks, has produced more than 35 films since 1983. He made his directorial debut ...
's 2008 film ''
Miracle at St. Anna
''Miracle at St. Anna'' is a 2008 AmericanItalian epic war film directed by Spike Lee and written by James McBride, based on McBride's 2003 novel of the same name. The film stars Derek Luke, Michael Ealy, Laz Alonso, Omar Benson Miller, Pierfra ...
'', and also hosted New York City mayor
Michael Bloomberg
Michael Rubens Bloomberg (born February 14, 1942) is an American businessman, politician, philanthropist, and author. He is the majority owner, co-founder and CEO of Bloomberg L.P. He was Mayor of New York City from 2002 to 2013, and was a ca ...
's 2006 inaugural gala. During a 2010 renovation of City Hall, the
New York City Council
The New York City Council is the lawmaking body of New York City. It has 51 members from 51 council districts throughout the five Borough (New York City), boroughs.
The council serves as a check against the Mayor of New York City, mayor in a may ...
convened some meetings in the Emigrant Savings Bank Building.
Condominium conversion
The
Chetrit Group bought the Emigrant Savings Bank Building from the city for $89 million in 2013; this was part of a $250 million deal that also involved the sale of
346 Broadway to the Peebles Corporation. The New York City government sold the buildings in an attempt to reduce the amount of office space that it owned.
Chetrit converted the Emigrant Savings Bank Building into condominiums and renamed the building to 49 Chambers. In 2016, the developer received a $194 million loan for the conversion from
SL Green Realty
SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet.
Notable prope ...
and Acore Capital, who also took over an existing $85 million loan that MSD Capital had given to the project. In an offering plan filed with the
New York Attorney General
The attorney general of New York is the chief legal officer of the U.S. state of New York and head of the Department of Law of the state government. The office has been in existence in some form since 1626, under the Dutch colonial government of ...
the same year, the developers indicated that they planned to offer 81 apartments.
Woods Bagot was hired to renovate the space, as well as to restore decorative elements and other historic motifs in the building.
The interiors were converted by Gabellini Sheppard Associates.
Chetrit also commissioned architectural historian Thomas Mellins, who wrote an essay about 49 Chambers' architecture and history.
Chetrit launched sales of the units in April 2017.
However, because of a lack of demand for the condominiums, Chetrit offered to give buyers' agents half of their
commission upon the signing of a contract. The owner retired its $194 million loan in January 2019, and SL Green gave Chetrit a $204 million loan. In July 2020, French museum operator Culturespaces announced that a digital art museum named Hall des Lumières would open within 49 Chambers' banking hall. Hall des Lumières's opening was postponed,
and the museum ultimately opened on September 14, 2022, with a
Gustav Klimt
Gustav Klimt (July 14, 1862 – February 6, 1918) was an Austrian symbolist painter and one of the most prominent members of the Vienna Secession movement. Klimt is noted for his paintings, murals, sketches, and other objets d'art. Klimt's prim ...
art installation.
Landmark designations
The building was added to the
National Register of Historic Places
The National Register of Historic Places (NRHP) is the United States federal government's official list of districts, sites, buildings, structures and objects deemed worthy of preservation for their historical significance or "great artistic v ...
on February 25, 1982.
The
New York City Landmarks Preservation Commission
The New York City Landmarks Preservation Commission (LPC) is the New York City agency charged with administering the city's Landmarks Preservation Law. The LPC is responsible for protecting New York City's architecturally, historically, and cu ...
designated 49 Chambers' exterior and first-floor interior as city landmarks on July 9, 1985. The interior-landmark designation was slightly modified in 1996 after chandeliers in the banking hall were restored.
49 Chambers is also located within two historic districts. It is part of the African Burial Ground and the Commons Historic District, which was designated a city landmark district in 1993.
The building is also part of the
African Burial Ground Historic District, a
National Historic Landmark District
National may refer to:
Common uses
* Nation or country
** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen
Places in the United States
* National, Maryland, ce ...
.
See also
*
*
References
Notes
Citations
Sources
*
*
*
*
*
External links
*
*
{{Authority control
1912 establishments in New York City
Bank buildings in Manhattan
Bank buildings on the National Register of Historic Places in New York City
Beaux-Arts architecture in New York City
Buildings and structures on the National Register of Historic Places in Manhattan
Civic Center, Manhattan
Commercial buildings completed in 1912
New York City Designated Landmarks in Manhattan
New York City interior landmarks
Skyscraper office buildings in Manhattan