CONVERSION OF MERCHANT BANK BUILDING UNDERWAY

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NEW YORK CITY — Savanna is currently converting the 1897 Merchant Bank Building at Fifth Avenue and W. 21st St. in Manhattan, New York City, into luxury condominiums. Known as 141 Fifth Avenue, the 14-story building will feature 38 loft condominiums and four penthouse units. The conversion and interior design of the landmark building is being completed by Cetra/Ruddy, and CORE Group Marketing is handling the sales of the facilities, which are more than 85 percent sold. Occupancy is slated for late 2008.

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