New York City developers are turning old banks vaults into secret party rooms

Downtown developers are transforming three former financial buildings into luxury condos that cater to the Wall Street crowd — quite literally — with vaults repurposed as swanky speakeasies, wine cellars and game rooms.

Chetrit Group is reimagining the opulent Beaux-Arts Emigrant Industrial Savings Bank at 49 Chambers (directly across from Tweed Courthouse) into 99 turnkey homes (opening next month). Originally designed by architect Raymond Almirall in 1912 as the largest bank building in the world, the landmark conversion (handled by Gabellini Sheppard Associates) now features haute-minimalist apartments that contrast with its ornate stonework.

“We have a classic building that we juxtaposed with modern interiors,” Ariel Chetrit, of the Chetrit Group, tells Alexa. “We think it works really well together.”

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