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Across from City Hall, a landmarked Beaux Arts building becomes condos from $2M

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The conversion of the former Emigrant Savings Bank headquarters will create 99 condos

A look at the historic bank lobby now in the midst of restoration.
Photos and renderings courtesy Williams New York

The onetime home of the Emigrant Industrial Savings Bank on Chambers Street is now offering up condos from $1.995 million. The landmarked Beaux Arts structure at 49 Chambers Street is currently in the midst of a restoration and transformation into a 99-unit condo building with apartments coming in one to three-bedroom variations.

Of the currently available units, prices range from the above-mentioned $1.995 million for a one-bedroom, 1.5-bathroom unit on the 7th floor of this 17-story building, spanning 968 square feet. On the top end, a two-bedroom, two-bathroom measuring 1,824 square feet is asking $3.325 million.

The project came about after the Chetrit Group purchased this historic building from the city in 2013 for $89 million. Last month, Chetrit unveiled a teaser site for this Woods Bagot-designed conversion.

On Friday, the New York Times first revealed that sales would get underway today, and also got a look at a model unit in the building. Take a look at the interiors below:

Condo interiors here are being done by Gabellini Sheppard and some of the features they’ve chosen include San Marino marble kitchen islands, master bathrooms fitted with Ariel White marble, and solid wood doors.

Located across from City Hall Park and the Tweed Courthouse, this 17-story building was the city’s first H-shaped skyscraper, according to the Times, and this will significantly help with light and views from the condos, with many of the units featuring eight-foot bay windows.

Amenities in the building include a mosaic-tiled swimming pool, a hammam with an adjacent sauna and steam, a fitness center, a virtual golf room, a children’s playroom inspired by City Hall Park, and a resident’s lounge, among others.

A landscaped rooftop park here is being designed by M. Paul Friedberg & Partners and will feature a planted garden, living green walls, a covered dining area, and an outdoor kitchen and grill, among other features.

Parts of the historic building that are being restored include the intricate carvings, cornices, friezes, and the beehive motif that is featured throughout the building. Then of course there’s the banking hall and the exterior facade. Here’s a peek at the banking hall’s ceiling mid-restoration:

Designed by Raymond Almirall, this building was built for the Emigrant Industrial Savings Bank in 1912. At that time of its completion, it was the largest bank in the United States. It remained the headquarters of the bank until the 1960s, following which it was home to several government offices for the following five decades until it sold to Chetrit in 2013. The condos are being marketed and sold by the Marketing Directors. The conversion is expected to wrap by summer 2018.