141 Fifth Avenue - This Striking Beaux Arts Masterpiece Welcomes Residents

July 15, 2010

NEW YORK – (July 15, 2010) – Savanna, a New York City-based real estate investment and development firm, has completed one of downtown’s most successful luxury loft conversions, 141 Fifth Avenue. The 34-unit gem, formerly the 1897 Merchant Bank Building, is located in the heart of the Ladies’ Mile Historic District. The building’s classic beaux arts façade, terra cotta detailing, and distinctive cupola have been meticulously restored to their original grandeur.

A striking cupola dome, rising 30 feet above the rooftop, defines the building and is one of only a few residential cupolas in Manhattan. Inside this dome is a stunning penthouse, priced at $12 million, offering 3,200 square feet of living space. To date, only a few units, including four penthouses, remain for sale at this extraordinary 12-story landmark building situated on a prominent corner of Fifth Avenue.

“There are only a handful of residences remaining at 141 Fifth Avenue,” noted Shaun Osher, CEO of CORE, the building’s exclusive sales and marketing agent. “The sales successes of 141 Fifth Ave reflect the one-of-a-kind history of this building. You cannot recreate the history that this gorgeous beaux arts pre war building provides and buyers are certainly responding to that.”

Restored features include the building’s classic Beaux Arts façade, terra cotta detailing, an ornate 5th floor balcony overlooking Fifth Avenue, a new retail storefront and new wood windows for each residence in the building. In addition, the lobby’s intricate period craftsmanship was restored and updated to create a grand and elegant Fifth Avenue entrance. The New York City Landmarks Preservation Commission has commended the design scheme of the restoration, which was brought to life by the award-winning architecture and design firm of Cetra/Ruddy.

For more information, or to schedule a private appointment, call Emily Beare of CORE at 212-726-0786 or visit

About Savanna

Savanna is a New York City-based real estate investment and development firm that has been in operation since 1992. Since its inception, Savanna has invested approximately $1.5 billion of capital in multiple asset types throughout the Northeast corridor and Mid-Atlantic region with a clear focus on investment opportunities that provide superior returns. For additional information on Savanna, visit

About CORE

CORE is a boutique real estate firm that delivers the best in brokerage, marketing, communications and advisory services for the luxury residential segment. CORE’s elite group of highly experienced and successful professionals services developers who value efficient, no-nonsense results. CORE was founded by Shaun Osher as a full-service boutique with a national reach and a strict adherence to the principles of integrity, efficiency and results. For more information visit

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