New York Savings Bank Building

New York Savings Bank

Company type	Bank (former)
Industry	Banking
Founded	1854
Defunct	1987
Fate	Vacated in 1987; building repurposed for retail use
Headquarters	Manhattan, New York City , United States
Area served	Manhattan, New York City

The New York Savings Bank Building is a historic former banking edifice situated in Manhattan's Chelsea district at 81 Eighth Avenue, positioned at the intersection with 14th Street. Constructed between 1896 and 1898 for the then-operational New York Savings Bank, the structure was originally designed by Robert Henderson Robertson, with subsequent expansions carried out by George H. Provot and the architectural firm Halsey, McCormack & Helmer. Both the building’s exterior and interior have been officially designated as New York City landmarks, and it is also listed on the National Register of Historic Places.

The building’s facade is clad in Vermont marble and rests on a granite water table at the basement level. Its primary entrance on Eighth Avenue is distinguished by a portico supported by Corinthian columns beneath a triangular pediment. The broader elevation along 14th Street is divided into three uneven sections, with the central portion crowned by a pediment. The roof predominantly features gabled copper cladding, augmented by a dome equipped with clerestory windows. Inside, the most notable feature is the banking hall that rises three stories high, showcasing a coffered vaulted ceiling with a recessed dome at its core.

Established in 1854, New York Savings Bank relocated to this site in 1857. The present building was erected in stages to allow uninterrupted banking services, reaching completion in 1898. In 1930, George H. Provot redesigned the main facade facing Eighth Avenue to accommodate the bank’s expansion. A northern annex designed by Halsey, McCormack & Helmer opened in 1942 but was later demolished in 1972. Following mergers during the late twentieth century, the structure continued to function as branches for New York Bank for Savings and subsequently Buffalo Savings Bank until it was vacated in 1987. After remaining unoccupied for several years, it reopened as a Central Carpet store in 1994, operated as a Balducci's market from 2005 until 2009, and transitioned to a CVS Pharmacy location during the 2010s.

Site

Situated at 81 Eighth Avenue, on the northwest corner of 14th Street, this building lies within Manhattan’s Chelsea neighborhood. The property occupies an L-shaped land lot covering , with its western portion extending deeper into the city block compared to the eastern side. The building fronts measure approximately on Eighth Avenue and on 14th Street, stretching about along its southern boundary. Nearby landmarks include the New York County National Bank Building to the south and 111 Eighth Avenue just northward; an entrance to the New York City Subway’s 14th Street/Eighth Avenue station is located immediately outside. By the early twentieth century, this building was among multiple bank structures established around 14th Street.

Architecture

Designed in the neoclassical tradition by Robert Henderson Robertson, the New York Savings Bank Building was completed in 1897. Its exterior draws inspiration from classical Roman temples, featuring prominent porticos and a dome, while its interior includes a vast vaulted ceiling crafted to impress potential depositors. In 1930, George H. Provot updated the main entrance façade on Eighth Avenue, and in 1940, an annex to the north was constructed according to designs by Halsey, McCormack & Helmer, though this addition has since been demolished.

Facade

The New York Savings Bank Building retains much of its original architectural character. The elevations along 14th Street and Eighth Avenue are predominantly faced with Vermont marble and ashlar masonry, while the base water table is finished with polished granite. The marble ashlar, approximately 4 inches thick, is supported by exterior brick walls bonded with a cement-and-lime mortar mix. These standalone walls are capped with bluestone coping. The foundation extends down about 15 feet below the street curb. An entablature encircles both facades, crowned by an asymmetrically positioned dome atop the roof.

Eighth Avenue

The primary entrance on Eighth Avenue is marked by a triple-height Corinthian portico divided into three bays, featuring two fluted columns within and paneled pilasters with antae on the outer edges. These elements uphold an entablature and a triangular pediment. The columns are adorned with Corinthian capitals, while the antae are decorated with egg-and-dart moldings and anthemia motifs. Originally, bronze lettering spelling "The New York Savings Bank" was affixed to the entablature. A small window and a recessed limestone acroterion are set within the parapet of the pediment.

Set back behind the columns, the facade recesses inward. The central bay contains a stoop leading to the main doorway, which is flanked by Doric pilasters supporting a horizontal cornice above the first floor. Initially, four doors provided separate ingress and egress for customers but were removed in 1930. Above the entrance cornice, a bronze eagle holds an eight-sided lantern in its beak. The two outer bays on the first floor consist of blind panels resting on stone pedestals that once supported bronze lanterns. On the second floor, three rectangular windows are topped by a belt course embellished with anthemia.

14th Street

The 14th Street facade presents an asymmetrical design divided vertically into three distinct sections. The western and center sections each contain three double-height rectangular windows, while the easternmost section is windowless. Positioned above the center section are a pediment and dome that signify the expansive banking hall within. A continuous entablature with copper cresting runs across all three sections.

The central portion reflects the Eighth Avenue portico's tripartite division, featuring rectangular windows framed by rosettes in each bay. Each window includes a horizontal transom bar decorated with Greek-key patterns and lion's heads, separating smaller upper panes from larger lower ones. Below each sill lie guttae, while above are ornate architraves adorned with water leaf designs and raised circular accents. Four pilasters flank these bays, embellished with egg-and-dart moldings and anthemia, supporting a pediment at the third-story level. The entablature once bore the bank’s name in bronze letters and is surmounted by a pediment housing a bronze grille.

The eastern section consists of an unadorned marble-and-ashlar wall without windows. Near the corner of 14th Street and Eighth Avenue, a triangular sign featuring dual clock faces is mounted; it is flanked by twisting colonnettes and topped with a carved beehive emblem representing the New York Savings Bank.

On the western side, three double-height windows similar to those in the center section appear but are slightly narrower and showcase unique Greek-key motifs and rosettes. Each window jamb is decorated with a repeating pattern of two palmettes flanking a rosette. Six steps descend beneath the westernmost window to a rear entrance topped by a lintel adorned with acroteria.

Roof

Along 14th Street, the building's banking hall is topped by a gabled roof constructed of terracotta bricks supported by steel rafters and sheathed in copper. The gabled structure consists of steel elements measuring 12 inches thick and weighing approximately 40 pounds each.

Positioned above this is a copper dome segmented into three horizontal layers: the parapet, adorned with crescent motifs and covered in copper; the clerestory, which contains 20 stained-glass windows separated by pilasters decorated with rosettes and anthemia, all surmounted by an entablature embellished with embossed disks, lion heads, and intricate moldings; and finally, the unadorned copper dome featuring vertical battens and a flat circular finial ornamented with anthemia and lion heads. Catwalks and stepladders enable movement around the dome’s perimeter.

Interior

Although the roof rises three stories high, the interior layout varies between one to three stories, incorporating some triple-height volumes. Siena marble is prominently utilized throughout the interior spaces. Public rooms are situated facing Eighth Avenue at the southern and eastern ends of the L-shaped footprint, while bank staff offices occupy the northern section. The banking room accessible from Eighth Avenue serves as the principal interior feature.

Banking room

The former banking hall is characterized by a rectangular plan with a lofty ceiling, featuring Siena marble wainscoting along with Corinthian columns, pilasters, and plinths. The capitals, entablatures, and vaulted ceilings are finished in plaster. During a 1930 renovation, travertine was installed above much of the marble wainscoting on most walls. The flooring consists of rose-gray marble. Originally, an L-shaped teller counter made of beige marble was positioned roughly 15 feet from the west and south walls; however, it was removed by the 1990s.

The coffered ceiling includes a transverse rib supported by engaged columns on the north and south walls, forming a proscenium-like arch that separates public areas from staff zones. A small dome crowns the center of the ceiling.

The south wall is clad with travertine above marble wainscoting and divided asymmetrically by an engaged column; its eastern portion contains three bronze-framed windows flanked by marble pilasters set on plinths. Travertine also covers the west wall, which incorporates a circular bronze clock set within a square frame decorated with anthemia; clock hands and Roman numerals are affixed directly to the travertine surface. Some original marble wainscoting remains in the northwest corner, though parts of the north wall were removed during renovations. The east wall initially featured four doorways that were merged into one in 1930 and later redesigned in a Moderne style in 1952 while preserving original marble pilasters, architraves, sills, and an entablature above.

Each coffer in the ceiling displays an embossed rosette surrounded by egg-and-dart and waterleaf moldings; these coffers have been repainted several times over the years. Centered over the western half is a dome resting on a tholobate adorned with a Greek key pattern, lion heads, egg-and-dart molding, and 20 short fluted pilasters alternating with stained-glass windows framed by classical cast-iron grilles topped with anthemia. An entablature runs above these pilasters.

The dome itself features coffers bearing rosettes akin to those on the main ceiling, culminating in a large central rosette. Three bronze chandeliers with etched glass panels and eagle-shaped finials hang from the ceiling—one positioned at the dome’s center and two suspended from the main ceiling—adding to the room’s majestic ambiance.

Banking Use

The present structure was built for the New York Savings Bank, originally chartered on April 17, 1854, under the name Rose Hill Savings Bank. Initially, its headquarters were located at Third Avenue and 21st Street in Manhattan. In 1857, the institution relocated to the northwest corner of Eighth Avenue and 14th Street, occupying the basement of a four-story building constructed for the New York County Bank. The Rose Hill Savings Bank was renamed the New York Savings Bank in 1862. Following post-Civil War expansion northward to 14th Street, increased business prompted the bank to acquire its premises and move its operations to the ground floor.

Early Development and Construction

By June 1896, the bank engaged architect R. H. Robertson to design a new building. Construction permits were granted that same month, with Otto M. Eidlitz serving as mason and S. W. McGuire as carpenter. Although initially planned as a four-story brick edifice, the final design utilized marble at an estimated cost of $220,000. To ensure uninterrupted banking services, construction proceeded in two stages: administrative offices were completed first, followed by public banking areas.

In March 1897, permits were requested to build a temporary entrance and flooring on the western side; this work was finished by May of that year. Revised plans submitted in October incorporated an I-beam beneath the banking room floor for structural support. By 1898, both the banking hall and Eighth Avenue entrance had been finalized. The building was strategically positioned to attract clientele from Chelsea, Greenwich Village, the Meatpacking District, and along the Hudson River waterfront.

The original teller counter featured a U-shaped design centrally located within the banking hall, channeling customers through designated doorways on Eighth Avenue. Deposits amounted to nearly $18 million by 1900 (equivalent to about $ million today), rising to $47 million by 1920 (approximately $ million).

Expansions from 1910s through 1940s

After the widening of 14th Street in 1913, architect Alexander McMillan Welch undertook modifications to the coal bunker beneath the sidewalk at an estimated cost of $3,000. In 1926, as neighborhood growth accelerated—bolstered by development and proximity to the Independent Subway System's Eighth Avenue Line—the bank installed a clock sign on 14th Street.

Significant alterations to the Eighth Avenue facade occurred in 1930: the original projecting stairs were replaced with a narrower recessed staircase, and four separate doorways were consolidated into a single entrance. A marble-clad vestibule and customer restrooms were added between the original facade and the new entrance; these enhancements were designed by George Provot, who previously partnered with Welch. Later that year, plans were filed for a recessed basement entrance on 14th Street. In 1931, the bank introduced New York City's sole "night depository," allowing after-hours deposits.

In January 1939, New York state authorized the bank to sell life insurance policies. Subsequently, in 1940, Adolf L. Muller of Halsey, McCormack & Helmer was commissioned to design a limestone-faced annex immediately north of the main structure. This addition required demolishing two four-story buildings at 85 and 87 Eighth Avenue. However, construction was delayed for over eight months due to labor and material shortages during World War II. The annex officially opened on April 17, 1942, coinciding with the bank's 88th anniversary.

That same year marked the commencement of Federal Deposit Insurance Corporation coverage for depositors at this institution, which held deposits totaling $83.976 million (roughly $ million today). In 1945, the building's facade underwent cleaning concurrent with approval for a canopy over an adjacent subway entrance.

Mid- and late 20th century

In November 1952, the bank purchased a parcel at 89 Eighth Avenue next to its annex and submitted plans to update the banking hall, incorporating new amenities for check processing and a real estate division. The refurbishment introduced travertine pilasters, teller barriers, and bronze railings. By 1953, the institution had adopted a closed-circuit television system to authenticate accounts and signatures, effectively halving withdrawal durations—an innovation described by The New York Times as "the nation's first routine application of television in banking." That same year marked the opening of its inaugural branch at Rockefeller Center, while the Eighth Avenue location remained its headquarters; a second branch was established in 1959.

In August 1963, the New York Savings Bank merged with the larger Bank for Savings, creating the New York Bank for Savings. This consolidation increased the allowable number of branches beyond previous limits, permitting up to ten locations; the tenth branch debuted in 1966. The Eighth Avenue structure was converted into one of eight operational branches. In 1964, authorization was granted to update the signage on the 14th Street frontage. Although proposals emerged in 1971 to replace the annex with single-family residences, these plans were never realized; instead, a six-story apartment building was envisioned for that site. The annex was demolished in 1972, and openings on the banking room’s northern wall were closed off with travertine. Additionally, applications were submitted for an illuminated sign on the facade.

By 1981, facing financial challenges, the bank merged with Buffalo Savings Bank in 1982; thereafter, the building functioned as a branch of Buffalo Savings Bank. That same year, Landmark Realty acquired ownership but continued leasing space to the bank. The institution earned the nickname "Goldome," alluding to Buffalo Savings Bank’s iconic gold-domed headquarters. Buffalo Savings Bank vacated the premises in July 1987, leaving it unoccupied for several years.

Post-bank use

Following Buffalo Savings Bank’s departure, Landmark Realty initially had no definitive plans for redevelopment. However, filings in May 1987 proposed constructing a 32-story residential tower on the site by utilizing air rights from 85 Eighth Avenue. By mid-1987, the New York City Landmarks Preservation Commission (LPC) began considering landmark status for both the facade and interior, notifying Landmark Realty of a hearing scheduled for July 14. Shortly thereafter, Landmark Realty removed stained-glass windows and bronze fixtures, provoking criticism from preservation advocates. Concerns also arose regarding potential interior damage caused by a hole in the roof. Ultimately, both the facade and interior received city landmark designation in June 1988.

Functioning as Central Carpet Outlet

Following the Wiener family's decision in the early 1990s to halt demolition and sale plans, they began seeking tenants for the property. In 1992, Central Carpet acquired the building to establish its second location, capitalizing on its closeness to other carpet retailers. Owner Ike Timianko identified the site after an extensive seven-year search but encountered difficulties securing financing due to doubts about the neighborhood's viability. Renovation efforts led by Scarano, Englert & Norton introduced a mezzanine level above the former banking hall; however, preservation mandates elevated renovation expenses to $8 million. The Metropolitan Transportation Authority (MTA) initially proposed installing a subway entrance adjacent to the main doorway but later assured that access would remain unobstructed after Central Carpet raised objections.

Central Carpet launched operations in October 1994, branding itself as "The Grand Palais of Rugs," showcasing an inventory exceeding 15,000 rugs. The Preservation League of New York State lauded this adaptive reuse as a superior alternative to demolition. Although Eighth Avenue was in decline at the time of opening, the success of Central Carpet helped attract upscale retailers to the area by the late 1990s. This growth led Timianko to shutter his original Upper West Side store. On January 7, 2000, the building was officially added to the National Register of Historic Places.

Subsequent Usage

In 2004, entrepreneur Mark Ordan revealed intentions to inaugurate a Balducci's gourmet food market occupying two floors at 81 Eighth Avenue, then home to Central Carpet. Plans also included transforming portions of the building into kitchens, office spaces, and storage facilities. Known as the "Temple of Food," this site was envisioned as the flagship outlet for a new Balducci's chain. Renovation proposals involved removing a partition installed in 1952 and reinstating entrances on Eighth Avenue that had been removed in 1930 to enhance accessibility; these modifications received approval from the LPC in February 2005. The store commenced operations in December 2005 but ceased business abruptly in April 2009 amid a corporate restructuring effort. Since the 2010s, the premises have been occupied by a CVS Pharmacy.

Influence

At its time of construction, the New-York Tribune remarked on the building's distinction within a district "not remarkable for beauty of architecture." Conversely, Montgomery Schuyler offered criticism in the Architectural Record (1896), describing the design as lacking balance and highlighting concerns with formal symmetry and artistic harmony, particularly focusing on the portico and skylighted dome.

By 2000, The New York Times characterized the New York Savings Bank Building as a "far more ornate edition of the genre" associated with neighborhood savings banks, emphasizing its copper-domed roof and columned interior hall. Following Balducci's market opening, New York referred to it as "stately and grand, as only an 1897 New York Savings Bank building turned 21st-century food hall can be." Architectural historian Andrew Dolkart alongside the LPC in 2009 acknowledged it as "an early example of Classical Revival bank design." Historian Barbaralee Diamonstein-Spielvogel praised it in 2011 as "a fine example of the classical style popularized by the 1893 World's Columbian Exposition in Chicago."

See also

• List of New York City Designated Landmarks in Manhattan between 14th and 59th Streets
• National Register of Historic Places entries in Manhattan from 14th to 59th Streets