Commerce revives landmark.
Situated at the intersection of Broadway and Wall Street, on the ground floor and three mezzanine levels, the 14,314-square-foot location will serve as the bank's Wall Street headquarters.
"Commerce Bank is helping to lead the renaissance taking place in Lower Manhattan since 9/11, and locating this store at the crossroads of capitalism signifies our commitment to Wall Street and the New York marketplace," stated Commerce Bank founder and Chairman Vernon W. Hill. He also noted that C
Previously home to the Bank of Portugal, the four-story building will be renovated by Commerce Bank to create an engaging retail atmosphere.
The existing original banking floor, which is currently below street level, will be raised approximately four feet to provide customers with easy access to new retail banking space.
In addition, the building's second floor will be removed to enhance the sweeping overall design of the bank's newly created street level retail banking store.
One element of the existing design that will remain in tact is the building's ornate 16-foot chandelier, which will serve as a showpiece at the bank's center. The building's three mezzanine floors will serve as office space for Commerce Bank's commercial lenders, cash management employees and administrative staff.
Using a retail business model that seeks out high-profile, high traffic sites, Commerce has enjoyed extraordinary growth in the New York marketplace--going from zero retail locations in late 2001 to 37 in the five boroughs, including 18 in Manhattan, presently.
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|Title Annotation:||Commerce Bank|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Feb 16, 2005|
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