In a city captivated by the next new thing, true landmarks have become increasingly rare.
Rarer still are those entrusted to someone who understands their value.
For more than a century, Capitale has stood among New York’s most remarkable architectural treasures. Housed within the former Bowery Savings Bank, the 1893 Beaux-Arts masterpiece designed by Stanford White remains one of the country’s most spectacular event venues. Its soaring ceilings, hand-carved marble, gilded accents, and monumental Corinthian columns embody a grandeur that modern construction rarely achieves.
Now, Capitale is entering a new chapter. Under the ownership and stewardship of Ilya Zavolun, the historic venue is being thoughtfully restored to the prominence and prestige that have long defined it. This is not about reinvention. It’s about honoring what has always made the space extraordinary while investing in its future as one of New York’s great landmarks. Call it Capitale 2.0.
“When I first stepped inside Capitale, I understood immediately that this wasn’t simply an event venue; it was a piece of New York history,” says Zavolun. “Spaces like this are increasingly hard to come by. My goal is to protect its character, celebrate its legacy, and ensure that Capitale continues to be a place where some of the city’s most meaningful cultural, social, and philanthropic moments unfold for decades to come.”
At a time when many historic properties have been stripped of their character in pursuit of modernization, Zavolun recognizes that Capitale’s greatest asset is its authenticity. With a deep respect for the building’s history and architectural significance, he is sparing no expense in carefully preserving the details, craftsmanship, and sense of occasion that have made it one of New York’s most coveted destinations for generations.
His role is not to change Capitale’s identity, but to elevate it. The result is a venue that feels as magnificent today as it did during its earliest years.
For fashion, Capitale remains one of the few New York spaces capable of turning a runway show into a cultural moment. The architecture becomes part of the narrative. Models emerge beneath towering ceilings while collections unfold against marble and gold leaf rather than temporary sets. The room delivers a natural sense of drama that designers often spend fortunes trying to recreate.
For galas, fundraisers, and corporate events, the venue offers a scale few can rival. Yet despite its grandeur, Capitale maintains an intimacy that encourages genuine connection. It can host a global luxury brand launch, a philanthropic gala, or a black-tie cultural gathering with equal ease and distinction.
Its emotional resonance is perhaps most evident during weddings and milestone celebrations. There is a permanence to Capitale that mirrors the significance of the occasions it hosts. Guests do more than attend events here; they remember them. The architecture lends gravity to every entrance, every toast, and every first dance.
What makes this moment especially compelling is the understanding that Capitale is more than an event space. It is part of New York’s cultural fabric.
Over the decades, the landmark has hosted celebrated fashion shows, charitable galas, society gatherings, and cultural milestones. That legacy cannot be manufactured. It is earned over time, creating an atmosphere that guests feel the moment they step inside. Today, that legacy is being carefully protected and strengthened.
Rather than chasing trends, Zavolun is focused on ensuring that Capitale continues to stand among New York’s most distinguished destinations, where architecture, hospitality, culture, and celebration converge. His vision is rooted in stewardship: preserving the building’s extraordinary character while ensuring it remains relevant and vibrant for generations to come.
In a city defined by constant reinvention, Capitale offers something increasingly rare: permanence. The architecture remains magnificent. The history endures. And under Zavolun’s stewardship, its future looks brighter than ever. This is not the transformation of a landmark. It is the continuation of a story still being written. Capitale 2.0 is more than marble, stone, and architectural grandeur; it is a place where history and memory converge, where the past remains present, and where new chapters continue to unfold.