German Savings Bank, ca. 1905.

The Central Savings Bank was constructed between 1870 and 1872 as the German Savings Bank. The bank, founded by successful German businessman Jacob Windmuller, dated to 1859. Windmuller created the bank for the large and growing lower Manhattan German population. Business was conducted in German and the immigrant community flocked to the institution. In 1864 the successful bank moved north to a location at the corner of 14th Street and Fourth Avenue. They outgrew their original building, purchased some of the surrounding lots, and hired German-born architect Henry Fernbach to design a French Second Empire style building.

The resulting five-story structure had a facade of arched openings, separating pilasters, and cornices at each level. While the bank occupied the lower floor, the upper floor tenants included artist and glassmaker David Maitland Armstrong and sculptor Augustus Saint-Gaudens.

Following the anti-German sentiments of the First World War, the banks changed its name to ‘The Central Savings Bank in the City of New York.' The bank left the neighborhood in 1928, relocating to a large new building that occupied the entire block between Broadway and Amsterdam Avenue, 73rd to 74th Streets. The upper floors of the 14th Street bank building housed the New York County Committee of the Communist Party for a number of years in the 1940s. The bank building was demolished in 1962 and replaced by a no-style red brick apartment building.