MERCANTIL COMMERCEBANK’S NEW YORK OFFICE BUILDING DESIGNATED AS A ‘NEW YORK CITY LANDMARK’

Coral Gables, FL - July 24, 2009

Mercantil Commercebank’s New York office building located at 11 East 51st Street in Manhattan, has been designated as a New York City Landmark by the city’s Landmarks Preservation Commission. The building serves as the hub of Mercantil Commercebank’s
New York operations.

The residence, erected between 1904 and 1906, was built for stone and building contractor John Peirce by noted architect John H. Duncan.  At the time of construction, Fifth Avenue, just south of Central Park was the most prestigious residential area in the city.

In its designation letter to the bank, Robert B. Tierney, Chair of The New York City Landmarks Preservation Committee noted that the “Commission so honored the site because of its special character, history, and aesthetics, along with its value as part of the development and cultural heritage of New York.”

Peirce was born in Maine and succeeded his father in the family business which came to control much of the granite industry in Maine. He moved to New York in the early 1880’s to expand the market for his firm’s products.  At the apex of his professional and personal life, Peirce built what is known as the John Peirce Residence as his family residence, and lived there until 1914. 

While the building was subsequently occupied by the Gardner School for Girls and later on by a series of businesses, including its current owner, Mercantil Commercebank, the Preservation Commission notes that the residence “remains nearly perfectly intact and is a significant reminder of the area’s history as a prestigious residential district.”

“We are truly honored by the designation of our property,” says Millar Wilson, president and CEO of Mercantil Commercebank.  “I can assure the city’s Landmarks Preservation Commission of our commitment to continue the integrity of this New York City landmark. The Mercantil organization is proud to have had a presence in New York for over 30 years, and looks forward to continue being an integral part of the city’s international financial business community.”

ABOUT MERCANTIL COMMERCEBANK:
Mercantil Commercebank N.A. is one of the largest privately held banks in South Florida serving its community for 30 years. Mercantil Servicios Financieros (MSF), a Venezuelan company, beneficially owns the Bank through U.S. bank holding companies. MSF is the largest provider of financial services in Venezuela, with more than 80 years of experience. Mercantil Commercebank has assets of $5.6 billion. The Bank is headquartered in Coral Gables, Florida, and has 17 Banking Centers, 15 in South Florida; one in Manhattan, New York; and one in Houston, Texas. Mercantil Commercebank is a recipient of the “100 Top Business Minority Awards,” and is ranked as a Top Community Bank in South Florida. The Bank offers a wide variety of domestic, international, personal, and commercial banking services, including investment, trust, and estate planning through its subsidiaries, Mercantil Commercebank Investment Services, Inc. and Mercantil Commercebank Trust Company, N.A. For more information, please visit www.mercantilcb.com.

Editor’s Note: There’s another bank in South Florida whose moniker includes the word ‘Mercantile.’  Please note that we are MERCANTIL COMMERCEBANK. Thank you.

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