221-752: 1 Wall Street (also known as the Irving Trust Company Building , the Bank of New York Building , and the BNY Mellon Building ) is a skyscraper in the Financial District of Lower Manhattan in New York City , United States. Designed in the Art Deco style, the building is 654 feet (199 m) tall and consists of two sections. The original 50-story building was designed by Ralph Thomas Walker of
442-587: A Con Edison plant. With mass transit in New York City already suspended as a precaution even before the storm hit, the New York Stock Exchange and other financial exchanges were closed for two days, re-opening on October 31. From 2013 to 2021, nearly two hundred buildings in the Financial District were converted to residential use. Furthermore, between 2001 and 2021, the proportion of companies in
663-465: A National Register of Historic Places district created in 2007. 14 Wall Street is in the Financial District of Manhattan , bounded by Nassau Street to the east, Wall Street to the south, and Pine Street to the north. The lot has dimensions of 160 feet (49 m) on Wall Street, 173 feet (53 m) on Nassau Street, and 178 feet (54 m) on Pine Street. The lot has a total area of 32,947 square feet (3,060.9 m ). Nearby buildings include
884-590: A powerful bomb exploded . It killed 38 and seriously injured 143 people. The area was subjected to numerous threats; one bomb threat in 1921 led to detectives sealing off the area to "prevent a repetition of the Wall Street bomb explosion". During most of the 20th century, the Financial District was a business community with practically only offices which emptied out at night. Writing in The Death and Life of Great American Cities in 1961, urbanist Jane Jacobs described
1105-581: A "deathlike stillness that settles on the district after 5:30 and all day Saturday and Sunday". But there has been a change towards greater residential use of the area, pushed forwards by technological changes and shifting market conditions. The general pattern is for several hundred thousand workers to commute into the area during the day, sometimes by sharing a taxicab from other parts of the city as well as from New Jersey and Long Island , and then leave at night. In 1970 only 833 people lived "south of Chambers Street"; by 1990, 13,782 people were residents with
1326-491: A "tower of strength"; the bank used the icon and slogan until the 1980s. Charles Phelps Cushing wrote in 1929 that the building's stepped pyramidal roof was "the meeting place for the midnight frolics of modern jazz sprites". The iconography persisted even after the annex was constructed. 14 Wall Street's likeness became synonymous with capitalism and Wall Street, having been shown in Berenice Abbott 's photos as well as
1547-461: A 46- or 52-story building on a plot of 178 by 101 feet (54 by 31 m); they called for two banking rooms at ground level. Walker and his associate Perry Coke Smith designed a large banking room called the Red Room for the lower stories, and Walker hired Hildreth Meière to design the mosaics for the Red Room. Smith and Meière collaborated on the Red Room's color scheme, while Lynn Fausett helped draw out
1768-545: A 74,000-square-foot (6,900 m) lease for a gym on the lowest four floors in 2019. Macklowe originally hired Core Real Estate to market the apartments. However, he replaced Core with Compass, Inc. , in December 2020, prompting Core to sue Macklowe for unpaid brokerage fees. Sales of residential units were launched in September 2021. By March 2022, Macklowe and Al Thani planned to refinance 1 Wall Street for $ 1.1 billion, using
1989-606: A T-shaped banking room covering 10,000 square feet (930 m ), with "a forest of squared-off, trunk-like columns clad in Oregon myrtle". The new banking room's coved ceiling was 27 feet (8.2 m) tall. The building has four basement levels, two of which were occupied by Bankers Trust's safe-deposit vault. Described by The Bankers Magazine as "the strongest vault in the world", the vault measured 28 by 32 feet (8.5 by 9.8 m) across. The vault weighed 1,550 short tons (1,380 long tons; 1,410 t) and had 160 safe-deposit boxes;
2210-540: A Ukrainian fertilizer tycoon, for $ 303 million in cash. Rovt paid off the building's outstanding debt as part of the deal. At the time of the purchase, the building had 300,000 square feet (28,000 m ) of vacant space, and three potential tenants were in discussion to lease about two-thirds of the vacant space. Rovt began renovating the building and increased its occupancy rate from 70 to 95 percent by 2014, mostly by leasing space for ten years to tenants such as office-space operator Regus. After $ 60 million of renovations,
2431-405: A bid to convert the office property into 566 condos with retail at the base. The renovation was originally supposed to be designed by Robert A.M. Stern Architects , who were replaced by SLCE Architects . Ashe Leandro , Deborah Berke Partners , and Moed de Armas and Shannon also redesigned parts of the building, and Deutsche Bank provided a $ 750 million mortgage loan for the conversion. At
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#17328511989962652-547: A cost of $ 1.5 million. At the time, the press reported that Bankers Trust would erect a 16-story office building wrapping around the Gillender Building. George B. Post , hired as a "professional advisor", proposed the new building as an L-shaped structure. In November, Bankers Trust finalized an agreement to buy the Gillender Building from Helen Gillender. The next month, the Manhattan Trust Company acquired
2873-470: A defining feature of the Art Deco style. The facade has uninterrupted vertical piers , similar to other Art Deco buildings. Although the piers emphasize the building's height, Walker said this effect was not the main goal of his design. The original 1931 building is on the northern portion of the site. The first twenty stories occupy almost the entire site. The building has a series of small setbacks starting at
3094-479: A downturn with a sizable drop in year-end bonuses of $ 6.5 billion, according to one estimate from a state comptroller's office. To guard against a vehicular bombing in the area, authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $ 5000 to $ 8000 apiece on bollards . Several streets in the neighborhood, including Wall and Broad Streets, were blocked off by specially designed bollards: Rogers Marvel designed
3315-424: A fifth of buildings and warehouses were empty, and many were converted to living areas. Some conversions met with problems, such as aging gargoyles on building exteriors having to be expensively restored to meet with current building codes. Residents in the area have sought to have a supermarket, a movie theater, a pharmacy, more schools, and a "good diner". The discount retailer named Job Lot used to be located at
3536-520: A full-service bank, and one of the country's wealthiest financial institutions. Bankers Trust, having rented out the upper floors, found their existing space to be inadequate by the 1920s, with more than four times as many staff as in 1912. As a result, the company took up space in the Astor and Hanover Bank buildings. Bankers Trust began land acquisition in 1919, acquiring the Astor Building that June and
3757-456: A lawyer's office on the 26th story. The second floor contained the main banking room, with tellers' windows, trust departments, and other banking departments. The main banking room was designed in a Greek style and had 27-foot-high (8.2 m) ceilings; the walls were clad in Tavernelle marble for their full height. The tellers' counters originally aligned with the exterior windows. There
3978-434: A lounge and a private restaurant. The building also contains communal spaces with kitchens, phone booths, AV equipment, and printers. These amenities are mostly clustered in the annex, occupying the 38th and 39th floors. Lifetime Fitness operates an athletic club within the building, and there is also a coworking space known as One Works. Irving Trust's bank vault , weighing 5,000 short tons (4,500 long tons; 4,500 t),
4199-744: A lower crime rate than in the 1990s, with crimes across all categories having decreased by 86.3% between 1990 and 2018. The precinct reported 1 murder, 23 rapes, 80 robberies, 61 felony assaults, 85 burglaries, 1,085 grand larcenies, and 21 grand larcenies auto in 2018. The Financial District is served by three New York City Fire Department (FDNY) fire stations: As of 2018 , preterm births and births to teenage mothers are less common in Financial District and Lower Manhattan than in other places citywide. In Financial District and Lower Manhattan, there were 77 preterm births per 1,000 live births (compared to 87 per 1,000 citywide), and 2.2 teenage births per 1,000 live births (compared to 19.3 per 1,000 citywide), though
4420-509: A museum visit and discussion of various financiers "who were adept at finding ways around finance laws or loopholes through them". Occasionally artists make impromptu performances; for example, in 2010, a troupe of 22 dancers "contort their bodies and cram themselves into the nooks and crannies of the Financial District in Bodies in Urban Spaces " choreographed by Willi Donner. One chief attraction,
4641-466: A neighborhood, a community." During the past two decades there has been a shift towards greater residential living areas in the Financial District, with incentives from city authorities in some instances. Many empty office buildings have been converted to lofts and apartments; for example, the Liberty Tower , the office building of oil magnate Harry Sinclair , was converted to a co-op in 1979. In 1996,
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#17328511989964862-562: A new kind of bollard, a faceted piece of sculpture whose broad, slanting surfaces offer people a place to sit in contrast to the typical bollard, which is supremely unsittable. The bollard, which is called the Nogo, looks a bit like one of Frank Gehry's unorthodox culture palaces, but it is hardly insensitive to its surroundings. Its bronze surfaces actually echo the grand doorways of Wall Street's temples of commerce. Pedestrians easily slip through groups of them as they make their way onto Wall Street from
5083-464: A penthouse. A molded cornice runs above the 32nd story. The roof is made of massive granite blocks and measures 94 feet (29 m) tall, with a base of 70 feet (21 m) square. There are 23 or 24 steps between the bottom and top of the roof; each step measures 3 feet 9.25 inches (1.1494 m) high and 1 foot 4 inches (0.41 m) deep. The roof also has a smokestack measuring 6 feet (1.8 m) in diameter, from which smoke
5304-552: A provincial extension of the Dutch Republic and was designated as the capital of the province of New Netherland in 1625. By 1655, the population of New Netherland had grown to 2,000 people, with 1,500 living in New Amsterdam. By 1664, the population of New Netherland had skyrocketed to almost 9,000 people, 2,500 of whom lived in New Amsterdam, 1,000 lived near Fort Orange , and the remainder in other towns and villages. In 1664
5525-400: A robber tried to open the door using a blowtorch. The two main doors on the upper level, and one door on each of the other levels, weighed 45 short tons (40 long tons; 41 t) each. A tank of water, as well as chemical, electrical, and mechanical systems, were used to deter break-ins. Since the settlement of New Amsterdam in the 17th century, only three buildings on the northern portion of
5746-636: A second estimate (based on the 2000 census based on a different map) places the residential population in 2000 at 12,042. By 2001 there were several grocery stores, dry cleaners, and two grade schools and a top high school. In 2001, the Big Board , as some termed the NYSE, was described as the world's "largest and most prestigious stock market". When the World Trade Center was destroyed on September 11, 2001 , it left an architectural void as new developments since
5967-410: A series of "rhythmic motifs" in different sizes. The resulting concave bays were angled inward at a pitch of 1:9. Each of the bays is separated by curved, projecting piers that rise to each setback. Several piers also have vertical incisions for emphasis. The windows of the original building contained custom curved frames to fit into the facade, which added $ 40,000 to the construction cost. The base of
6188-468: A set of mail chutes . A continuous 531-step staircase runs from the third floor to the 29th floor. When the building first opened, entry to these floors was via an entrance on the western portion of the Wall Street facade, where a passageway linked to the Hanover Bank Building to the north. During the 1931–1933 expansion, a new entrance was built on Pine Street. The annex's lobby was designed in
6409-544: A skyscraper (after only the Metropolitan Life Insurance Company Tower ); previous tall structures had been capped by a cupola , spire, or tempietto . The rest of the building is surrounded by a 25-story annex, which wraps around the western and northern sides of the original tower. The Wall Street side has setbacks at the 15th, 22nd, and 25th floors and the Nassau Street side has a setback at
6630-474: A three-story penthouse apartment with 12,965 square feet (1,204.5 m), four bedrooms and four bathrooms, as well as a private library and chef's kitchen. Several of the units are model apartments, which are shown to prospective buyers and were designed by FrenchCalifornia, Elizabeth Graziolo, and Cyril Vergniol. The amenities include a 75-foot (23 m) indoor swimming pool, 39th-floor observation deck, library, golf simulator, dog spa, and playroom, as well as
6851-517: A triple-height ceiling, fluted walls, teak floors, and a fireplace, as well as four full-height windows that faced each of the cardinal directions. The walls were also decorated with depictions of Native American war bonnets. Since 1 Wall Street's residential conversion, there have been 566 condominium apartments, of which 304 are studios and one-bedroom units. Forty-seven of the condominiums have private decks. The condominiums were designed by SLCE Architects. The upper three floors were converted into
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7072-685: A visual landmark for drivers and pedestrians. In some respects, the nexus of the Financial District moved physically from Wall Street to the World Trade Center complex and surrounding buildings such as the Deutsche Bank Building , 90 West Street , and One Liberty Plaza . Real estate growth during the latter part of the 1990s was significant, with deals and new projects happening in the Financial District and elsewhere in Manhattan; one firm invested more than $ 24 billion in various projects, many in
7293-532: Is NewYork-Presbyterian Lower Manhattan Hospital in the Civic Center area. 14 Wall Street 14 Wall Street , originally the Bankers Trust Company Building , is a skyscraper at the intersection of Wall Street and Nassau Street in the Financial District of Manhattan in New York City . The building is 540 feet (160 m) tall, with 32 usable floors. The original 540-foot tower
7514-406: Is 0.0096 mg/m (9.6 × 10 oz/cu ft), more than the city average. Sixteen percent of Financial District and Lower Manhattan residents are smokers , which is more than the city average of 14% of residents being smokers. In Financial District and Lower Manhattan, 4% of residents are obese , 3% are diabetic , and 15% have high blood pressure , the lowest rates in the city—compared to
7735-562: Is a major location of tourism in New York City . One report described Lower Manhattan as "swarming with camera-carrying tourists". Tour guides highlight places such as Trinity Church , the Federal Reserve Bank of New York Building gold vaults 80 feet below street level (worth $ 100 billion), and the New York Stock Exchange Building . A Scoundrels of Wall Street Tour is a walking historical tour which includes
7956-540: Is also mostly made of limestone. On the New Street side, there are setbacks above the 5th and 10th floors; the building then rises as a slender slab with setbacks on the 29th, 34th, and 35th floors. Along Broadway, the facade of the annex was originally recessed behind that of the original building by two bays . In 2018, a glass-clad entrance to the retail space was constructed in front of the annex. The entrance structure ranges between one and seven stories high. The facade of
8177-585: Is at the southeastern corner of the site, and a shorter annex wraps around the original tower. The original tower was erected on the site of the Stevens Building at 12–14 Wall Street and the Gillender Building at 16 Wall Street. It was built in 1910–1912 and was designed by Trowbridge & Livingston in the neoclassical style as the headquarters for Bankers Trust . A 25-story addition with Art Deco detailing , designed by Shreve, Lamb & Harmon ,
8398-500: Is directly to the southeast. The original building is located at the southeast corner of the site, which was previously occupied by the Stevens and Gillender buildings. In 1880, the Sampson family developed their lots along 12–14 Wall Street into the Stevens Building, which stood until 1910. Sixteen years later, Helen L. Gillender Asinari, owner of the adjoining six-story office building on
8619-462: Is generally rooted in the Gilded Age , though there are also some art deco influences in the neighborhood. The area is distinguished by narrow streets, a steep topography, and high-rises Construction in such narrow steep areas has resulted in occasional accidents such as a crane collapse. One report divided lower Manhattan into three basic districts: Federal Hall National Memorial , on the site of
8840-503: Is mere swank, and unconvincing swank at that". Because of Irving Trust's role as a receiver for bankrupt companies, 1 Wall Street was called the "Central Repair Shop for Broken Businesses". Architectural historian Robert A. M. Stern wrote in his 1987 book New York 1930 that 1 Wall Street's proximity to other skyscrapers including 70 Pine Street , 20 Exchange Place , 40 Wall Street, and the Downtown Athletic Club "had reduced
9061-652: Is now a 1,776 ft (541 m) tall structure, opened in 2014 as the One World Trade Center . Fulton Center , a new transit complex intended to improve access to the area, opened in 2014, followed by the World Trade Center Transportation Hub in 2016. Additionally, in 2007, the Maharishi Global Financial Capital of New York opened headquarters at 70 Broad Street near the NYSE, in an effort to seek investors. By
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9282-933: Is the locus for a large amount of technology and data. For example, to accommodate the three thousand persons who work directly on the Exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on the trading floor alone, and 200 miles of fiber-optic cable below ground. Buildings in the Financial District can have one of several types of official landmark designations: The following landmarks are situated south of Morris Street and west of Whitehall Street/Broadway: The following landmarks are located west of Broadway between Morris and Barclay Streets: The following landmarks are located south of Wall Street and east of Broadway/Whitehall Street: The following landmarks are located east of Broadway between Wall Street and Maiden Lane: The following landmarks are located east of Broadway and Park Row between Maiden Lane and
9503-481: Is used for the rest of the building. The steel frame includes about 39 tiers of beams, which extend to 537 feet (164 m) above ground. Thirty-six columns carry the building's estimated dead load of 47,102 short tons (42,055 long tons; 42,730 t). The largest columns are 500 feet (150 m) tall and carry loads of up to 2,200 short tons (2,000 long tons; 2,000 t). The builders ensured that 14 Wall Street would be constructed with fireproof material. Metal
9724-424: Is ventilated. The annex's facade is made of granite at the base and limestone on the upper stories. It was designed to defer to the "solid and robust architecture" of the original building. The facade of the annex is arranged in two styles. The Wall Street facade contains setbacks at lower stories, and the window arrangement is aligned with that of the original building. The base consists of four stories. Like
9945-451: Is well-suited for tall buildings, with a solid mass of bedrock underneath Manhattan providing a firm foundation for tall buildings. Skyscrapers are expensive to build, but the scarcity of land in the Financial District made it suitable for the construction of skyscrapers. Business writer John Brooks in his book Once in Golconda considered the start of the 20th century period to have been
10166-523: The Art Deco style. Each story in the annex is at the same height as in the original building, allowing for continuous floor slabs across both structures; the expanded floor slabs cover about 23,000 square feet (2,100 m ) each. The upper stories of the annex have ceiling heights of 13 feet (4.0 m). A system of eleven elevators connected the lobby to the rental floors, consisting of five "express" elevators, five "local" elevators, and one "relief" elevator. The "express" elevators ran nonstop from
10387-531: The Commissioners' Plan of 1811 , a grid plan that dictates the placement of most of Manhattan's streets north of Houston Street . Thus, it has small streets "barely wide enough for a single lane of traffic are bordered on both sides by some of the tallest buildings in the city", according to one description, which creates "breathtaking artificial canyons". Some streets have been designated as pedestrian-only with vehicular traffic prohibited. The Financial District
10608-599: The Equitable Building to the north, Federal Hall National Memorial (formerly the sub-Treasury building) at 26 Wall Street to the east, 23 Wall Street to the southeast, the New York Stock Exchange Building to the south, 1 Wall Street to the southwest, and 100 Broadway to the west. An entrance to the Broad Street station of the New York City Subway , serving the J and Z trains,
10829-415: The New York City Subway 's Wall Street station , served by the 4 and 5 trains, are adjacent to the building. Because of the curves in the facade , the original structure does not completely occupy its full land lot ; instead, 180 square feet (17 m) is used as a sidewalk. At the chamfered corners of the building, the facade is recessed as much as 7.5 feet (2.3 m) from
11050-477: The New York Stock Exchange and the Federal Reserve Bank of New York . Anchored on Wall Street in the Financial District, New York City has been called both the leading financial center and the most economically powerful city of the world, and the New York Stock Exchange is the world's largest stock exchange by total market capitalization . Several other major exchanges have or had headquarters in
11271-526: The Williamsburgh Savings Bank Building and National City Bank Building , the Red Room did not contain classical-style decorations. The Red Room measures 100 feet (30 m) long from west to east and 40 feet (12 m) wide from north to south. The ceiling is variously cited as measuring 30 feet (9.1 m), 33 feet (10 m), or 37 feet (11 m) high. The room is shaped like an oblong polygon, and there are few right angles within
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#173285119899611492-414: The World Trade Center . Between 1987 and 1988, Irving Trust was negotiating to merge with the Bank of New York (BNY), which at the time was headquartered nearby at 48 Wall Street . Irving Trust initially rejected buy-out offers from BNY because the latter had "undervalued" Irving Trust's assets such as 1 Wall Street. By October 1988, with a merger imminent, Irving Trust placed 1 Wall Street for auction; at
11713-530: The 1921 documentary film Manhatta , and Bankers Trust sent a miniature model of the building to the Panama–Pacific International Exposition in 1915. Christopher Gray said that the massive height of 14 Wall Street posed a sharp contrast to the one-story 23 Wall Street, diagonally across Wall and Broad Streets, though both were designed by Trowbridge & Livingston and occupied by J.P. Morgan. 14 Wall Street's pyramidal roof inspired
11934-411: The 1970s had played off the complex aesthetically. The attacks "crippled" the communications network. One estimate was that 45% of the neighborhood's "best office space" had been lost. The physical destruction was immense: Debris littered some streets of the financial district. National Guard members in camouflage uniforms manned checkpoints. Abandoned coffee carts, glazed with dust from the collapse of
12155-478: The 20,088 counted in 2000 . Covering an area of 479.77 acres (194.16 ha), the neighborhood had a population density of 82.7/acre (52,900/sq mi; 20,400/km ). The racial makeup of the neighborhood was 65.4% (25,965) White , 3.2% (1,288) African American , 0.1% (35) Native American , 20.2% (8,016) Asian , 0.0% (17) Pacific Islander , 0.4% (153) from other races , and 3.0% (1,170) from two or more races. Hispanic or Latino of any race were 7.7% (3,055) of
12376-485: The 2010s, the Financial District had become established as a residential and commercial neighborhood. Several new skyscrapers such as 125 Greenwich Street and 130 William were being developed, while other structures such as 1 Wall Street , the Equitable Building , and the Woolworth Building were extensively renovated. Additionally, there were more signs of dogwalkers at night and a 24-hour neighborhood, although
12597-495: The 2018 addition projects forward to the facade of the original structure. Eight stories were also built atop the initial portion of the annex. In total, according to zoning documents, the annex measures 180 feet (55 m) on Broadway and 132.5 feet (40.4 m) on Exchange Place. The building contains 10 elevators as of 2019, compared with 43 elevators and 14 escalators prior to the building's residential conversion. When built, 1 Wall Street had 29 elevators, some of which were near
12818-505: The 21st story and continuing until the 35th story, above which a slender tower rises. The setbacks on the Broadway and Wall Street elevations alternate with each other. The southern portion of the original building rises as high as a dormer on the 37th floor; the 36th floor is the highest that also connects to the annex. The original structure measures 179 feet (55 m) on Broadway by 102 feet (31 m) on Wall Street. The tower stories, from
13039-399: The 23-foot-10-inch-wide (7.3 m) gap. The idea for the current skyscraper was attributed to Irving Trust president Harry Ward. Since its founding in 1851, Irving Trust had merged with numerous other banks in preceding years, and the firm had outgrown its offices, which were scattered across 60 Broadway, the Equitable Building , and the Woolworth Building . When the building was proposed,
13260-418: The 23rd floor. The Pine Street side has a light court above the 11th story, which cuts through the center of that side. The facade is clad with 8,000 short tons (7,100 long tons; 7,300 t) of New England granite from several quarries. The original tower is arranged into four sections: a base of 5 stories, a midsection of 21 stories, a top section of 6 stories (including the 32nd-story penthouse), and
13481-467: The 37th to the 48th floors, measure 60 by 80 feet (18 by 24 m) each. The top two stories constituted an executive penthouse. Walker's design emphasized the decorative details of the building's facade; by contrast, other early-20th-century skyscrapers in Lower Manhattan had emphasized the massing . The facade includes indented vertical bays with fluting , which are arranged like curtains, although
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#173285119899613702-431: The 47th floor, was decorated with 18-foot-high (5.5 m) wooden wainscoting, and there were directors' chairs arranged in a semicircle. The stories above it had dining spaces and a three-story observation lounge; these spaces had Art Deco furnishings. The executive lounge, at the 49th story, had a ceiling made of gold-leaf seashells, as well as walls covered with multicolored patterned fabrics. The executive lounge also had
13923-657: The American Indian , Trinity Church , St. Paul's Chapel , and the famous bull . Bowling Green is the starting point of traditional ticker-tape parades on Broadway , where here it is also known as the Canyon of Heroes . The Museum of Jewish Heritage and the Skyscraper Museum are both in adjacent Battery Park City which is also home to the Brookfield Place (formerly World Financial Center). Another key anchor for
14144-453: The Americas (1932), as well as telephone buildings in upstate New York . Architectural writer Robert A. M. Stern characterized 1 Wall Street as "Walker's only completed skyscraper". 1 Wall Street's facade is made primarily of limestone. This contrasts with the brick facades of Walker's telecommunications buildings, the use of which was likely influenced by Dutch and German Expressionism . At
14365-468: The Battery. The Bowling Green area was described as "Wall Street's back yard " with poor people, high infant mortality rates, and the "worst housing conditions in the city". As a result of the construction, looking at New York City from the east, one can see two distinct clumps of tall buildings—the Financial District on the left, and the taller Midtown neighborhood on the right. The geology of Manhattan
14586-639: The Broadway Association in 1931; the association designated the building as the "most worthy of civic endorsement" out of all structures erected around Broadway in 1930. A writer for the New York Evening Post called Meière's lobby mural "one of the most costly and beautiful pieces of mural decoration ever attempted in the United States". Eugene Clute of Metal Arts magazine described the walls as "a rich, free-hanging fabric" and "a cage set within
14807-585: The Brooklyn Bridge: The following landmarks apply to multiple distinct areas: What is now the Financial District was once part of New Amsterdam , situated on the strategic southern tip of the island of Manhattan. New Amsterdam was derived from Fort Amsterdam , meant to defend the fur trade operations of the Dutch West India Company in the North River ( Hudson River ). In 1624, it became
15028-612: The Central Union Trust Company controlled the buildings from 64 to 80 Broadway, and reportedly planned to build a 36-story structure at the site of the Chimney Building. The following month, American Exchange Irving Trust bought the Chimney Building along with three adjacent structures at 7 Wall Street, and 74 and 80 Broadway, in exchange for $ 5.5 million in cash and a $ 9 million mortgage . The transaction cost approximately $ 725 per square foot ($ 7,800/m). Following
15249-643: The Chimney Building, and in 1926, this structure and the Chimney Building were sold to a syndicate of bankers. The writer Washington Irving , the namesake of the Irving Trust Company, had occupied a house at 3 Wall Street several years before the building's development. The southern half of the block had two structures: the Manhattan Life Insurance Building on the north and the Knickerbocker Trust Company Building to
15470-629: The English took over New Amsterdam and renamed it New York City. In the late 19th and early 20th centuries, the corporate culture of New York was a primary center for the construction of early skyscrapers , and was rivaled only by Chicago on the American continent. There were also residential sections, such as the Bowling Green section between Broadway and the Hudson River , and between Vesey Street and
15691-578: The Federal Reserve, paid $ 750,000 to open a visitors' gallery in 1997. The New York Stock Exchange and the American Stock Exchange also spent money in the late 1990s to upgrade facilities for visitors. Attractions include the gold vault beneath the Federal Reserve and that "staring down at the trading floor was as exciting as going to the Statue of Liberty ". The Financial District's architecture
15912-505: The Financial District to more affordable locations. The recession of 1990–91 was marked by office vacancy rates downtown which were "persistently high" and with some buildings "standing empty". In 1995, city authorities offered the Lower Manhattan Revitalization Plan which offered incentives to convert commercial properties to residential use. According to one description in 1996, "The area dies at night ... It needs
16133-616: The Financial District, including the New York Mercantile Exchange , NASDAQ , the New York Board of Trade , and the former American Stock Exchange . The Financial District is part of Manhattan Community District 1 , and its primary ZIP Codes are 10004, 10005, 10006, 10007, and 10038. It is patrolled by the 1st Precinct of the New York City Police Department . The Financial District encompasses roughly
16354-464: The Gillender Building for $ 1.5 million (equivalent to $ 50,867,000 in 2023), then a record amount for land in New York City. Manhattan Trust then resold the Gillender Building to Bankers Trust for $ 1.25 million (equivalent to $ 42,389,000 in 2023), although Manhattan Trust retained long-term lease rights for the ground floor as well as various other spaces. According to The New York Times , Manhattan Trust and Bankers Trust had colluded to acquire
16575-572: The Gillender Building. During this time, Bankers Trust acquired a majority share in the Guaranty Trust Company; the same people served on both companies' boards of directors, although Guaranty Trust built a new headquarters for itself rather than move to 14 Wall Street. Bankers Trust and the Mercantile Trust Company also merged, but, because Mercantile Trust's headquarters burned in a January 1912 fire, this affected planning for
16796-504: The Modern Classic and Art Deco styles. Due to variations in the lot lines on the annex's site, the annex projects 16 feet (4.9 m) further onto the street than did the original building. In addition to an entrance at the center of the annex's Nassau Street side, there are service entrances on Pine Street. The annex facades contain carved ornament, curved piers at the base, wrought-iron gates and grilles, and an eagle sculpture above
17017-408: The New York Stock Exchange. That November, The Wall Street Journal reported that the building was 65% rented. In April 1912, a month before the building's opening, a parachutist jumped from the 32nd floor of 14 Wall Street, landing on the roof of 26 Wall Street. 14 Wall Street officially opened on May 1, 1912, and Bankers Trust began moving into its offices on May 20. Upon opening, the building
17238-605: The One Wall Street Unit to coordinate logistical planning for the new skyscraper. Thirty-five potential architects were identified and interviewed extensively. Ultimately, in June 1928, Voorhees, Gmelin and Walker were hired to design the structure, and Marc Eidlitz was hired as builder. Voorhees, Gmelin and Walker filed plans with the Manhattan Bureau of Buildings the next month. The initial plans, known as Scheme B1, called for
17459-479: The Red Room as "an over-the-top dream of period pizzazz that makes Baz Luhrmann 's Gatsby look like a work of sober realism". Financial District, Manhattan The Financial District of Lower Manhattan , also known as FiDi , is a neighborhood located on the southern tip of Manhattan in New York City . It is bounded by the West Side Highway on the west, Chambers Street and City Hall Park on
17680-485: The Red Room's interior was similarly designated in 2024. In addition, the structure is a contributing property to the Wall Street Historic District , a National Register of Historic Places district created in 2007. 1 Wall Street occupies an entire city block in the Financial District of Lower Manhattan in New York City , United States. The site is bounded by Broadway to the west, Wall Street to
17901-406: The Red Room, with colored mosaics. Originally, the 10th through 45th floors were rented to outside tenants, while the other floors contained offices, lounges, and other spaces for Irving Trust. After 1 Wall Street was converted to a residential building, the upper stories were divided into 566 condominium apartments. At the time of its construction, 1 Wall Street occupied what was considered one of
18122-636: The Wall Street area. In 1998, the NYSE and the city struck a $ 900 million deal which kept the NYSE from moving across the river to Jersey City ; the deal was described as the "largest in city history to prevent a corporation from leaving town". A competitor to the NYSE, NASDAQ , moved its headquarters from Washington to New York. In 1987, the stock market plunged and, in the relatively brief recession following, lower Manhattan lost 100,000 jobs according to one estimate. Since telecommunications costs were coming down, banks and brokerage firms could move away from
18343-415: The Wall Street side. A colonnade above it spans the second through fourth floors. The colonnade consists of Greek fluted columns, molded belt courses , and moldings and was "almost Puritanical in its simplicity". The facade of the lower stories was rearranged slightly when the current third story was created, with new spandrel panels being added to separate the double-height windows that formerly spanned
18564-420: The World Trade Center but moved to Church Street; merchants bought extra unsold items at steep prices and sold them as a discount to consumers, and shoppers included "thrifty homemakers and browsing retirees" who "rubbed elbows with City Hall workers and Wall Street executives"; but the firm went bust in 1993. There were reports that the number of residents increased by 60% during the 1990s to about 25,000 although
18785-402: The World Trade Center, lay on their sides across sidewalks. Most subway stations were closed, most lights were still off, most telephones did not work, and only a handful of people walked in the narrow canyons of Wall Street yesterday morning. Still, the NYSE was determined to re-open on September 17, almost a week after the attack. After September 11, the financial services industry went through
19006-531: The addition of areas such as Battery Park City and Southbridge Towers . Battery Park City was built on 92 acres of landfill, and 3,000 people moved there beginning about 1982, but by 1986 there was evidence of more shops and stores and a park, along with plans for more residential development. Construction of the World Trade Center began in 1966, but the World Trade Center had trouble attracting tenants when completed. Nonetheless, some substantial firms purchased space there. Its impressive height helped make it
19227-637: The ages of 25–44, while 14% are between 0–17, and 18% between 45–64. The ratio of college-aged and elderly residents was lower, at 11% and 7% respectively. As of 2017, the median household income in Community Districts 1 and 2 (including Greenwich Village and SoHo ) was $ 144,878. In 2018, an estimated 9% of Financial District and Lower Manhattan residents lived in poverty, compared to 14% in all of Manhattan and 20% in all of New York City. One in twenty-five residents (4%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or
19448-448: The annex (completed in 2023) were largely built as voided slabs ; hollow plastic spheres were embedded into the concrete floor slabs to reduce the slabs' weight. The glass retail addition is cantilevered outward from the original annex, avoiding the need to drill into the Wall Street subway station, which is located directly underneath the retail addition. At ground level is the Red Room. Walker and his associate Perry Coke Smith designed
19669-904: The annex of 195 Broadway , and the Jewish Museum annex. 14 Wall Street's architecture also provided inspiration for buildings in other cities, such as the Union Central Life Insurance Company Building in Cincinnati, the Metropolitan Tower in Chicago, and the Foshay Tower in Minneapolis. The New York City Landmarks Preservation Commission designated 14 Wall Street as an official city landmark in January 1997. In 2007,
19890-441: The annex on April 10, 1933, moving into seven stories of the annex. The Bankers Trust Company had assets of $ 1 billion by 1935. As a sign of the company's financial stability, in 1943, Bankers Trust bought the land under 14 Wall Street from the Sampson family, whose Stevens Building had been demolished to make way for the original tower. The building was outfitted with a modern air-conditioning system in 1955. During this era,
20111-458: The annex would cost $ 25 million. Voorhees, Walker, Smith, Smith & Haines were hired to design the annex, while Turner Construction was hired as the main contractor. By mid-1963, the site had been cleared; in advance of the work, Irving Trust subleased space at 2 Broadway . To finance construction, Irving Trust sold the building to a subsidiary, which then sold $ 30 million of secured notes to investors. Renovations also took place in
20332-564: The annex's banking room, Chase Bank , donated the space to the Skyscraper Museum for one year starting in 1998. During this time, the museum held an exhibition on the Empire State Building within the space. An investment group led by Laurence Gluck and Arthur Wrubel bought 14 Wall Street from General Electric Investment in 1999. The former banking room became an Equinox Fitness location in December 2000. The Rockwell Group designed an 11,000-square-foot (1,000 m ) mezzanine for
20553-409: The apartment as a private getaway. The 32nd floor contained an upscale French restaurant called The 14 Wall Street from 1997 to 2006. Under the roof were 47 storage rooms, as well as records, a sprinkler tank, a water tank, and elevator equipment. Bankers Trust was founded in 1903 when a number of commercial banks needed a vehicle to enter the trusts and estates market. The company originally
20774-406: The area around historic Trinity Church. Cars, however, cannot pass. The destruction of the World Trade Center spurred development on a scale that had not been seen in decades. Tax incentives provided by federal, state and local governments encouraged development. A new World Trade Center complex centered on Daniel Libeskind 's Memory Foundations was after the 9/11 attacks. The centerpiece, which
20995-403: The area is the New York Stock Exchange . City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at the corner of Wall and Broad streets", and in 1998 offered substantial tax incentives to try to keep it in the Financial District. Plans to rebuild it were delayed by the September 11, 2001, attacks. The Exchange still occupies the same site. The Exchange
21216-488: The area south of City Hall Park in Lower Manhattan but excludes Battery Park and Battery Park City . The former World Trade Center complex was located in the neighborhood until the September 11, 2001, attacks ; the neighborhood includes the successor One World Trade Center . The heart of the Financial District is often considered to be the corner of Wall Street and Broad Street , both of which are contained entirely within
21437-420: The area that were in the finance and insurance industries declined from 55 to 30 percent. For census purposes, the New York City government classifies the Financial District as part of a larger neighborhood tabulation area called Battery Park City-Lower Manhattan. Based on data from the 2010 United States Census , the population of Battery Park City-Lower Manhattan was 39,699, an increase of 19,611 (97.6%) from
21658-460: The area's heyday. The address of 23 Wall Street , the headquarters of J. P. Morgan & Company , known as The Corner , was "the precise center, geographical as well as metaphorical, of financial America and even of the financial world". On September 16, 1920, close to the corner of Wall and Broad Street , the busiest corner of the Financial District and across the offices of the Morgan Bank ,
21879-465: The bank continued to grow through mergers. The bank's second headquarters in Midtown Manhattan , at 280 Park Avenue , opened in 1962, though Bankers Trust retained occupancy at 14 Wall Street. The facade of 14 Wall Street was cleaned during the mid-1960s. When One Bankers Trust Plaza was completed in 1974, more employees were relocated out of 14 Wall Street and four other locations. Afterward,
22100-497: The bank was known as American Exchange Irving Trust, having merged in 1926 with the American Exchange-Pacific National Bank. During the mid- and late-1920s, many Art Deco office buildings were constructed in New York City, peaking around 1929 and 1930. Additionally, banks in Manhattan were clustering around Wall Street, and the corner of Broadway and Wall Street was seen as a valuable location. By April 1928,
22321-562: The boardroom and clerical force. The boardroom's walls and table were made of Circassian walnut, and there was enough space for 38 people to sit around the table. At the center of the Wall Street side, a wide staircase led to the first floor. Initially, this was the main entrance to the Bankers Trust offices. The lobby contains a bronze gate with symbols of capitalist enterprises such as metallurgy, shipping, construction, power, agriculture, manufacturing, and mining. Allegorical paintings in
22542-437: The building at 7 Pine Street two months later. The Hanover Bank Building was not acquired until September 1929. By that time, Bankers Trust owned the eastern half of the block bounded by Broadway and Wall, Pine, and Nassau Streets. Architect Richmond Shreve described the situation as "[falling] short of a true expression of the [company's] position". Shreve's firm, Shreve, Lamb & Harmon, had created plans for an annex to
22763-574: The building by January 1931. The firm filed plans for the $ 5.5 million edifice with the New York City Department of Buildings later the same month. The Thompson–Starrett Company was hired as the general contractor for the annex. Staff at 14 Wall Street were moved to a temporary location when work began in May 1931, and the Hanover Bank, Astor, and 7 Pine Street buildings were being razed by
22984-460: The building core; new stairs were also constructed to replace the existing stairs. The demolition of the interior was completed in November 2018. The Red Room was restored between 2016 and 2018, in advance of its conversion into a retail space. The Red Room's restoration used tiles that had been placed in storage and unused when the building was originally erected. The facade was restored using stone from
23205-605: The building for $ 7 million. Though Bankers Trust retained a lease through the building until 2004, with an option to cancel in 1995, the company vacated the space earlier in 1992. Manufacturers Hanover and the Chemical Bank then occupied the space that Bankers Trust had formerly used. Boston Properties agreed to buy 14 Wall Street for $ 320 million in August 1997, and the 32nd floor was converted into an upscale French restaurant called The 14 Wall Street that November. The tenant of
23426-447: The building itself began that August. The frame involved the installation of 250,000 rivets and was completed within five months of the groundbreaking without any serious incidents. The Ravenna Mosaic Company was hired to manufacture mosaics for the Red Room, and six workers from a mosaic-tile labor union helped Ravenna's workers install the mosaics. When the steel frame topped out on May 12, 1930, workers hoisted an evergreen tree to
23647-682: The building until September 2015. Macklowe wanted to add up to 174,000 square feet (16,200 m) of retail space at the base. Macklowe initially planned to make 1 Wall Street a mixed-use residential and office building, and he wanted to rent out 65 percent of the residences. In early 2017, Macklowe announced that the building would be almost entirely residential condominiums , since an all-residential building, owned by its tenants, would require less debt . Macklowe Properties partnered with former Prime Minister of Qatar Hamad bin Jassim bin Jaber Al Thani in
23868-473: The building was 90 percent occupied. Shortly afterward, the Fiduciary Trust Company of New York moved its banking quarters to the 30th floor, making that space the highest banking quarters in New York City. In a 1938 incident, an electrical transformer on the 21st-story setback blew up; though the windows shook, nobody was injured. An air-conditioning system was installed at 1 Wall Street in 1953, which
24089-455: The building was 90% leased by early 2016. Cushman & Wakefield handled leasing for 14 Wall Street until it was replaced by the CBRE Group in 2017. At the time of its completion, 14 Wall Street was the world's tallest bank building and the city's third- or fourth-tallest skyscraper. 14 Wall Street and the nearby Singer Tower , as viewed from Manhattan's waterfront, resembled "the posts of
24310-482: The building's 1912 opening that $ 250,000 had been spent on "teakwood furniture, priceless rugs, luxurious baths, and a private observation balcony", though it was "entirely devoid of furniture". The balcony was surrounded by an iron railing on three sides and was glassed-in on the remaining side. Christopher Gray , an architectural critic for the Times , wrote in 2007 that there had been unsubstantiated rumors that Morgan used
24531-604: The building's base opened in January 2023. The first residents were scheduled to move into the building that March, and construction was officially completed that month. Macklowe received a $ 300 million inventory loan for the building in October 2023 after sales underperformed expectations. At the time, there were 479 unsold units out of 566 total apartments, and the project had cost $ 2.9 billion to date. Sales remained lower than expected; by February 2024, only about 100 apartments had been sold. Asian investors comprised about half of
24752-563: The building's exterior walls. Irving Trust had six private elevators accessed from Wall Street. There were three groups of elevators in the rest of the building, serving the lower, intermediate, or upper floors; these elevators could be reached from Broadway, New Street, or the subway. Because the New Street side of the building was lower than the Broadway side, engineers configured the original elevator shafts so that double-deck elevators could be installed if necessary, but these double-deck elevators were never built. At its completion, 1 Wall Street
24973-479: The building, he renovated it from 2018 to 2023, converting the interior to residential units with some commercial space. The building is one of New York City's Art Deco landmarks , although architectural critics initially ignored it in favor of such buildings as the Empire State Building and the Chrysler Building . The exterior of the building's original section was designated as a city landmark in 2001, and
25194-493: The building, the Red Room had some chairs and desks. The brokers' loan officers had desks next to the eastern wall, while the officers of Irving Trust's city office sat at desks near the western wall. Because the building was completed just after the Wall Street Crash of 1929 , the Red Room's design included ornate materials to attract customers. The floor is made of red terrazzo tiles. Walker and Smith personally supervised
25415-408: The ceiling slants slightly upward. South of the entrance is a foyer that runs between Broadway and New Street, with two polygonal piers. The foyer in turn connected directly to the building's elevators. The Broadway and New Street lobby had walls made of Pyrenees black marble. The ceiling also had an allegorical painting measuring 20 by 66 feet (6.1 by 20.1 m), depicting the influence of wealth on
25636-421: The city. By 2010 the residential population had increased to 24,400 residents. and the area was growing with luxury high-end apartments and upscale retailers. On October 29, 2012, New York and New Jersey were inundated by Hurricane Sandy . Its 14-foot-high storm surge, a local record, caused massive street flooding in many parts of Lower Manhattan. Power to the area was knocked out by a transformer explosion at
25857-538: The citywide averages of 24%, 11%, and 28% respectively. In addition, 5% of children are obese, the lowest rate in the city, compared to the citywide average of 20%. Ninety-six percent of residents eat some fruits and vegetables every day, which is more than the city's average of 87%. In 2018, 88% of residents described their health as "good", "very good", or "excellent", more than the city's average of 78%. For every supermarket in Financial District and Lower Manhattan, there are 6 bodegas . The nearest major hospital
26078-425: The columns of the colonnade. Trowbridge and Livingston had wanted the colonnade on the 27th through 29th stories to contain double columns, as they believed a colonnade of single columns did not suggest "a sufficient massiveness to correspond with the building as a whole". Rectangular windows are located on the 30th and 31st stories, with a cornice between the stories. The 32nd floor is slightly set back and serves as
26299-555: The condominium owners by that year, but such sales were slowing down due to new export controls in China. Industry experts consulted by The Real Deal cited two other reasons for the lagging sales: the condos were overpriced compared to similar units nearby, and there was a general oversupply of vacant residential units in the Financial District. In May 2024, Macklowe replaced the sales agents from Compass, Inc., with two brokers from Macklowe Properties. 1 Wall Street received an accolade from
26520-416: The corners, which have grooves that make them appear as though they were panels. There is a band course above the sixth floor. Otherwise, the midsection lacks horizontal ornamentation. The 27th through 31st stories are decorated with engaged Ionic columns in antis . On the 27th through 29th stories, the north, east, and south facades are set back behind colonnades, while the west facade extends outward to
26741-522: The creation of beauty. Meière and Kimon Nicolaïdes designed the painting. When the annex was built, the expanded lobby floor was clad in travertine , and the original lobby's ceiling was covered with a dropped ceiling . As with other early-20th-century skyscrapers in the Financial District, the lower stories had large floor areas for the building's primary tenant, Irving Trust, while the upper stories were smaller. The lowest 21 floors each spanned about 15,000 square feet (1,400 m). Irving Trust occupied
26962-589: The creation of the floor tiles in Berlin. The walls and ceilings are decorated with 8,911 square feet (827.9 m) or 13,000 square feet (1,200 m) of mosaics, which were designed by Meière and manufactured by the Ravenna Mosaic Company in Long Island City and Berlin. The color scheme of the mosaic ranges from red-on-blue on the walls to gold-on-black on the ceiling. The tiles gradually become lighter on
27183-476: The current skyscraper's site had carried the address 1 Wall Street. The first was a 17th-century stone house, and the second was built in the 19th century. The third such structure was an 18-story office building built in 1907 and designed by St. Louis -based firm Barnett, Haynes & Barnett . The structure was known as the "Chimney Building" or the " 'chimney corner' building", and its footprint measured only 29 by 39 feet (8.8 by 11.9 m). The Chimney Building
27404-423: The current structure, with setbacks and a curving facade. The actual final plans, filed in June 1929, provided for a 50-story structure. The 1929 plans were released after Irving Trust applied for, and received, a zoning variance that allowed the base's first setback to be higher than would normally be allowed. The variance also allowed for a shallower setback, and the tower was allowed to cover more than 25 percent of
27625-465: The design of several other buildings. Its completion was described as the "beginning of a vogue for the use of a temple or mausoleum" at the top of skyscrapers, utilizing enhanced details or a full depiction of a temple. Architecture magazine projected that such a roof "will be used a great many times more". Several roofs in Lower Manhattan were influenced by 14 Wall Street's design, including those of 26 Broadway , 40 Wall Street , 60 Wall Street ,
27846-466: The designs for the room. An August 1928 memorandum between the architects and Irving Trust prompted several changes to the plans. Among those were separate elevators for bank employees and rental tenants; the removal of retail spaces and luncheon clubs; and the addition of a common reception lobby. In October 1928, local newspapers reported that Irving Trust had accepted "final plans" for a 44-story building rising 560 feet (170 m). This design resembled
28067-478: The district. The northeastern part of the Financial District (along Fulton Street and John Street) was known in the early 20th century as the Insurance District, due to the large number of insurance companies that were either headquartered there, or maintained their New York offices there. Although the term is sometimes used as a synonym for Wall Street , the latter term is often applied metonymously to
28288-416: The double-height second story. The fifth story is the topmost story of the base and has a deep cornice at the top. The cornice contains motifs of lions' heads and rosettes. The midsection begins at the sixth story and rises through the 26th story. It is mostly faced in buff -colored granite. Each bay contains two windows. There are slightly projecting vertical piers separating each bay, except at
28509-562: The eighth through 23rd floors of the Bankers Trust Building were vacant, representing 350,000 square feet (33,000 m ), though these floors were gradually rented to other tenants. Bankers Trust retained ownership of 14 Wall Street until 1987, when the building was sold to 14 Wall Street Associates, who subsequently sold the building to 14 Wall Street Realty in 1991 and to General Electric Investment in 1992. After buying 14 Wall Street, General Electric Investment started to renovate
28730-456: The entrance on Nassau Street. There are five bays on Nassau Street and eleven on Pine Street; the bays each contain between one and three windows. The base is two stories tall, excluding the basement, which is partially visible as Nassau Street slopes downward from Pine Street toward Wall Street. The design of the upper stories' facade is similar to that on the Wall Street side. For the foundation of 14 Wall Street, caissons were sunk around
28951-414: The facade at a rate of three-and-a-half stories per week. The building topped out on June 14, 1911. The stonework was completed by September 15, 1911, except for the pyramid, for which there had been a minor change in design. The basements and the three lower floors were to contain the headquarters of Bankers Trust, although its main operations would be housed elsewhere in less expensive offices. Most of
29172-402: The facade could also resemble a cliff-like natural shape from different angles. Walker said the building would "have 200 thousand people looking at it from all sides" in a single year, including workers and pedestrians, and he wanted them to have "mental relief and pleasure" when viewing it. Walker also said he "tried to superimpose one rhythm upon a basic rhythm"; as such, he treated the facade as
29393-477: The financial markets as a whole (and is also a street in the district), whereas "the Financial District" implies an actual geographical location. The Financial District is part of Manhattan Community Board 1 , which also includes five other neighborhoods ( Battery Park City , Civic Center , Greenwich South , Seaport , and Tribeca ). The streets in the area were laid out as part of the Castello Plan prior to
29614-522: The firm Voorhees, Gmelin and Walker and constructed between 1929 and 1931 for Irving Trust , an early-20th-century American bank. A 28-story annex to the south (later expanded to 36 stories) was designed by successor firm Voorhees, Walker, Smith, Smith & Haines and built between 1963 and 1965. The building occupies a full city block between Broadway , Wall Street , New Street, and Exchange Place . The limestone facade consists of slight inwardly-curved bays with fluting to resemble curtains. On
29835-667: The first U.S. capitol and the first inauguration of George Washington as the first President of the United States , is located at the corner of Wall Street and Nassau Street . The Financial District has a number of tourist attractions such as the South Street Seaport Historic District, newly renovated Pier 17, the New York City Police Museum , the Museum of American Finance , the National Museum of
30056-409: The first ten stories, using their large floor areas to house its clerical staff. The second floor originally contained Irving Trust's Wall Street office, which served businesses in the Financial District. The third floor was for the bank's corporate and personal trust divisions. The fifth floor had the bank's executive offices, wainscoted with wood from around the world, while the sixth floor accommodated
30277-457: The following year, Leviev Boymelgreen agreed to sell the property to Cushman & Wakefield for $ 325 million. Ultimately, 14 Wall Street was purchased by the Carlyle Group and Capstone Equities, who planned to renovate the building for $ 50 million, including $ 5 million for the restoration of the lobby. Carlyle and Capstone sold majority control of the building in 2012 to Alexander Rovt ,
30498-531: The foundation. The superstructure contains more than 8,000 short tons (7,100 long tons; 7,300 t) of steel. The second floor does not contain any columns because of the elaborate network of heavy trusses used to support the outer walls. "Unusually heavy bracing" is used to support the fourth floor. There are also four large trusses, two each at the fifth and 29th floors; they each measure 12 feet (3.7 m) thick and weigh 50 short tons (45 long tons; 45 t). A standard girder-and-column steel structure
30719-451: The fourth and deepest basement contained the power and steam plants. The remaining stories were rented to various tenants. The office stories contained floor surfaces made of concrete, as well as walls of marble , plaster , and terracotta . As a fireproofing measure, the doors, window sash, and trim were made of metal; the trim was then finished to look like mahogany. Each story contained ornate bronze mailboxes that were connected to
30940-491: The frame of the building and finished with a lining that has no more structural significance than the lining of my lady's work basket". Architectural critics of the mid-20th century generally ignored the building in favor of more widely renowned structures, such as the Empire State Building , the Chrysler Building , and 40 Wall Street . Lewis Mumford criticized 1 Wall Street's facade for not accurately representing its internal design, saying: "Chaste though that exterior is, it
31161-470: The general pattern of crowds during the working hours and emptiness at night was still apparent. There were also ten hotels and thirteen museums in 2010. In 2007 the French fashion retailer Hermès opened a store in the Financial District to sell items such as a "$ 4,700 custom-made leather dressage saddle or a $ 47,000 limited edition alligator briefcase". However, there are reports of panhandlers like elsewhere in
31382-443: The gigantic 'Gateway of New York. ' " Cassier's Magazine wrote that the building "presents a beautiful and impressive appearance, free from ornate decoration", though the magazine misattributed the building as being influenced by Egyptian pyramids. The building was perceived by several observers as a symbol of the future. During the early 20th century, Bankers Trust used imagery of 14 Wall Street in its advertising to depict it as
31603-407: The land below it was occupied by three buildings. The seven-story Astor Building was located at 10–12 Wall Street, directly to the west of the original tower. The Hanover National Building at 5–11 Nassau Street, erected in 1903, was a 21-story building north of the original Bankers Trust Building, which extended to Pine Street. The final building on the lot was 7 Pine Street, a 10-story building to
31824-473: The largest-ever such order. Before being used in the building, the limestone blocks went to a workshop in Long Island City, where they were carved to meet the building's specifications. By December 1930, Irving Trust announced that 80 percent of the space had been leased in the nearly-completed building. Tenants started moving into 1 Wall Street by mid-March 1931, before its formal opening, at which point it
32045-609: The latter part of the decade, financial institutions such as the Bank of Montreal , the Fourth National Bank , and the Germania Life Insurance Company acquired properties on Wall and Nassau Streets. Bankers Trust started to negotiate the purchase of the Gillender Building in April 1909. The bank first obtained the adjacent seven-story Stevens Building; that July, the trust leased the Stevens Building for 84 years at
32266-399: The lobby depicted similar motifs. When the building was expanded from 1931 to 1933, the former banking room on the first floor was converted into an officers' seating area, and the floor level was raised to harmonize with the new extension. The double-height second story was divided into two stories, and the third story was created. The new addition, with the address 16 Wall Street, contained
32487-398: The lobby to the 16th story and above. The "local" elevators served the lower floors, and the "relief" elevators served all floors. There was an additional elevator serving the 30th through 38th floors. The elevator lobbies contained Botticino-marble walls and travertine floors. As of 2023 , the building has 34 elevators. The present-day 32nd floor, the highest story beneath the roof,
32708-415: The lot line. Under municipal law, any private land that was adjacent to public property (but not clearly marked as such) would eventually revert to the government of New York City . Consequently, when 1 Wall Street was built, its main occupant Irving Trust embedded small metal plaques to delineate the boundaries of its lot, thereby preventing the city government from seizing the land. The original building
32929-416: The lot, the maximum lot coverage ratio typically allowed under the 1916 Zoning Resolution. Construction on the site of 1 Wall Street began in May 1929, with the demolition of the four buildings on the northern portion of the site. Several engineering professors from Columbia University were hired as consultants for the demolition process. Work was complicated by the fact that one of the previous buildings on
33150-419: The lot. Due to high pressure on the cofferdam, temporary timber trusses were used to brace the cofferdam. A 3-foot-thick (0.91 m) pad of concrete, overlaid with waterproof cement, was then placed at the bottom of the pit. The method was not only cheaper than the then-standard method of driving caissons down to bedrock, but also provided more basement space, as the basements were not interrupted by piers for
33371-430: The lower stories are narrow windows and elaborate entrances. The massing of 1 Wall Street incorporates numerous small setbacks , and there are chamfers at the corners of the original building. The top of the original building consists of a freestanding tower with fluted windowless bays. The facade of the annex is crafted in a style reminiscent of the original structure. The original building has an ornate lobby, known as
33592-426: The most delicate, even feminine, skyscrapers ever built". After the building's residential conversion was completed in 2023, a Daily Beast reporter wrote that the structure's conversion could be a model for other office-to-residence conversions, and Adriane Quinlan of Curbed described the building as a contrast to Macklowe's ultra-luxury tower at 432 Park Avenue . Ian Volner, writing for Curbed in 2024, described
33813-412: The most valuable plots in the city. The building replaced three previous structures, including the Manhattan Life Insurance Building , which was once considered the world's tallest building. After Irving Trust was acquired by the Bank of New York (BNY) in 1988, 1 Wall Street served as the global headquarters of BNY and its successor BNY Mellon through 2015. After the developer Harry Macklowe purchased
34034-450: The name "Voorhees, Gmelin & Walker" is printed in cursive script. There is an exposed granite basement on New Street with a service entrance. On the upper floors, each of the bays has a single sash window on each floor. The northwestern and northeastern corners of the building are both chamfered, which respectively connect the western and eastern elevations of the facade with the northern elevation. The southern annex, completed in 1965,
34255-585: The neighborhood is in the 61st, 65th, and 66th districts, represented respectively by Charles Fall , Grace Lee , and Deborah Glick . Politically, the Financial District in New York's 10th congressional district ; as of 2022 , it is represented by Dan Goldman . Financial District and Lower Manhattan are patrolled by the 1st Precinct of the NYPD , located at 16 Ericsson Place. The 1st Precinct ranked 63rd safest out of 69 patrol areas for per-capita crime in 2010. Though
34476-716: The new building. Bankers Trust absorbed Manhattan Trust in February 1912: both companies had been owned by Morgan, and the proximity of the companies' spaces was cited as a reason for the merger. To maximize land utilization, Bankers Trust desired to build a structure taller than either the Gillender or Stevens buildings. To "obtain the very best results" for the design, in 1909, Bankers Trust requested plans from four architects and architecture firms: Carrère and Hastings , Francis H. Kimball , Trowbridge and Livingston , and Warren and Wetmore . Ultimately, Trowbridge and Livingston's bid
34697-587: The next month. Workers used dynamite to clear the site of the annex. This damaged two nearby buildings near the intersection of Wall Street and Broadway, including the headquarters of the First National Bank of New York (now Citibank ), which was demolished in late 1931. First National Bank sued Bankers Trust and the project's contractors for $ 881,500 in April 1932, alleging that the excavations had damaged its adjoining building at Broadway and Wall Street. The case lasted for two years, and First National Bank
34918-554: The north, Brooklyn Bridge on the northeast, the East River to the southeast, and South Ferry and the Battery on the south. The City of New York was created in the modern-day Financial District in 1624, and the neighborhood roughly overlaps with the boundaries of the New Amsterdam settlement in the late 17th century. The district comprises the offices and headquarters of many of the city's major financial institutions , including
35139-609: The north, New Street to the east, and Exchange Place to the south. 1 Wall Street is adjacent to the Adams Express Building , 65 Broadway , the Empire Building , Trinity Church , and Trinity Church's churchyard to the west; the American Surety Company Building to the north; 14 Wall Street to the northeast; the New York Stock Exchange Building to the east; and 52 Broadway to the south. Entrances to
35360-409: The northeast corner of Wall and Nassau Streets, decided to replace it with the 300-foot-tall (91 m), 20-story Gillender Building, which was completed in 1897 and demolished in 1910. The two lots, combined, had a nearly square footprint measuring about 100 by 100 feet (30 by 30 m). The annex occupies the remainder of the plot and is L-shaped in plan. Prior to the construction of the annex,
35581-434: The northwest of the original tower. 14 Wall Street is approximately 540 feet (160 m) tall, with 32 usable above-ground floors and a seven-story pyramidal roof at its top, which contains seven storage levels. In addition, 14 Wall Street contains four basement levels; the topmost basement is partially raised above ground level. The original structure was designed by Trowbridge & Livingston for Bankers Trust and
35802-414: The number of crimes is low compared to other NYPD precincts, the residential population is also much lower. As of 2018 , with a non-fatal assault rate of 24 per 100,000 people, Financial District and Lower Manhattan's rate of violent crimes per capita is less than that of the city as a whole. The incarceration rate of 152 per 100,000 people is lower than that of the city as a whole. The 1st Precinct has
36023-407: The offices on the 31st story were designed by Cross & Cross . Generally, law firms and financial firms leased entire stories for themselves. These included brokerage house Bear Stearns , which hired H. J. Horvath & Company and designer W. A. Zwicke to subdivide its 10th-floor space into various offices and other rooms. Irving Trust's dining room was on the 46th floor. The directors' room, on
36244-481: The offices was a light-colored bronze, while Italian marble lined the main banking spaces on the first and second floors. At the time of the building's opening, The Bankers Magazine observed that the offices used modular equipment that could be moved easily in case the company needed to expand. Further, the floor surfaces were made of cork, and each department had telephone service. Pneumatic tube systems made it easy to send papers between different departments and to
36465-417: The original building is composed of the lowest three stories. The section of the base along Wall Street is eight bays wide, with a double-width entrance in the middle of the Wall Street facade, which is reached by a short flight of stairs and leads to the main lobby. The entryway is framed by a jagged portal. The sections of the base on Broadway and New Street are seventeen bays wide. On the New Street elevation,
36686-420: The original building; tenants continued to use 1 Wall Street during construction, but the vault in the basement was emptied. A refrigeration plant was installed on the annex's roof to provide air-conditioning to both buildings, and cooling machinery was also installed in the basement. The project was finished by late 1965. By 1980, Irving Trust had decided to relocate its operations center to another building near
36907-452: The original structure's design was to place a pyramidal roof, similar to that of the Mausoleum of Halicarnassus, on top of a tower like Venice 's St Mark's Campanile bell tower. Trowbridge wanted to enhance "the beauty of the upper part of building by a loggia and a stone pyramid, in place of the usual flat or mansard roof." This was one of the first times a pyramidal roof had been used in
37128-592: The original structure, three of which are below sea level. A corridor inside 1 Wall Street's basement, stretching between Broadway and New Street, provided access to the northbound platform of the Wall Street station, but it had been converted to a communications room by 2000. Upon the building's opening, Irving Trust occupied the basements, lowest ten floors, and uppermost three floors. Following its residential conversion, 1 Wall Street contained 678,000 square feet (63,000 m) of residential space and 166,000 square feet (15,400 m) of commercial space. The top stories of
37349-508: The original tower, the first floor is rusticated, and the second through fourth floors contain a colonnade. On upper stories, wide piers divide each bay, and narrow piers divide each window. The piers are ribbed and are designed in a modernistic style. The spandrels between each row of windows are ornamented aluminum panels. The combination of piers, spandrels, and windows create a pattern of vertical striping. The Pine Street and Nassau Street facades are more modern in design, with motifs in
37570-499: The out-of-town and foreign divisions and a telephone room for long-distance calls. The 10th through 45th floors were rented to outside tenants. Voorhees, Gmelin & Walker were not responsible for the layout of the offices, instead hiring specialists for that task. Architectural firms also designed some of the offices; for example, the Fiduciary Trust Company 's 30th-story offices were designed by Delano and Aldrich , while
37791-496: The percentage of residents who have difficulty paying their rent, is 38% in Financial District and Lower Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively. Based on this calculation, as of 2018 , Financial District and Lower Manhattan are considered high-income relative to the rest of the city and not gentrifying . The population of the Financial District has grown to an estimated 61,000 residents as of 2018, up from 43,000 as of 2014, which in turn
38012-428: The population. The entirety of Community District 1, which comprises the Financial District and other Lower Manhattan neighborhoods, had 63,383 inhabitants as of NYC Health 's 2018 Community Health Profile, with an average life expectancy of 85.8 years. This is higher than the median life expectancy of 81.2 for all New York City neighborhoods. Most inhabitants are young to middle-aged adults: half (50%) are between
38233-447: The previous generation of skyscrapers to the status of foothills in a new mountain range". Daniel Abramson wrote in 2001 that the "corner and tower treatments appear blocky and conventional" compared to 70 Pine Street, though 1 Wall Street was still distinguished in its massing and the curves in its facade. Later architectural critics also praised the structure Ada Louise Huxtable of The New York Times wrote in 1975 that 1 Wall Street
38454-411: The proceeds to pay off construction costs and outstanding debt. At that point, the renovation was projected to be completed by the end of 2022. French retailer Printemps announced that September that it would open a store at 1 Wall Street, covering 55,000 square feet (5,100 m) on two floors. The Printemps store, which is planned to open in early 2025, will use the Red Room. The Whole Foods store at
38675-443: The quarry that had supplied the material for Walker's original building. Eight stories were added to the southern annex, and the third floor was demolished to make a higher ceiling for the retail space. A new entrance was also constructed on Broadway, with a design based on one of Walker's unrealized plans for the building. Whole Foods Market leased a 44,000-square-foot (4,100 m) storefront in 2016, and Life Time Fitness signed
38896-413: The roof. The base was originally four stories, but the present third floor was added in the 1931–1933 renovation. On each side are five window bays , each of which contain two windows per floor. The design of each side is largely identical, except that the western facade's midsection is made of brick rather than granite. The windows originally had wood frames covered with metal. Because 14 Wall Street
39117-467: The room, while artist Hildreth Meière was hired as a "color consultant". The space was intended mainly as a reception room for the bank and was accessed primarily from Wall Street to the north. The Red Room had no tellers' counters since Irving Trust was a commercial bank , rather than a savings bank . Lewis Pierson of Irving Trust described the Red Room as a place "where we shall meet our customers and friends". Unlike earlier banking rooms such as those in
39338-467: The room. Gluck had sole ownership of 14 Wall Street by 2004, and Leviev Boymelgreen bought the building from Gluck the next year for $ 215 million. Initially, the new owners wanted to convert the entire building from offices into luxury condominiums but, in 2006, they dropped their plan for a residential conversion. Instead, Leviev Boymelgreen ultimately converted the lower stories to condos. The 14 Wall Street restaurant also closed in early 2006. Early
39559-522: The sale, the Central Union Trust Company moved to the Manhattan Life Building and modified the structures at 60, 62, and 70 Broadway. Immediately after the purchase, Irving Trust announced it would erect an office building on the site. This announcement occurred amid an increase in the number of large banks in New York City. The company's board of directors founded a sub-committee for construction oversight, and several Irving Trust employees formed
39780-507: The site had been cleared, foundation work was started. Foundational work was stymied due to the quicksand in the ground, as well as the presence of redundant supports underneath the Gillender Building's site and the proximity of other buildings. Steel superstructure construction commenced after foundational work was completed in November 1910, and the steel had reached the ground level by December 20, 1910. Facade work commenced in February 1911, with contractor Marc Eidlitz & Son erecting
40001-435: The site had extremely sturdy walls ranging from 4 to 10 feet (1.2 to 3.0 m) thick. The Indiana Limestone Company was hired to supply the building's Indiana limestone . During December 1929, Ward sent engraved letters to 500 nearby property owners, apologizing for the noise created during the riveting process; this generated positive publicity for the building in both the local and national press. The ceremonial cornerstone
40222-440: The site's perimeter, reaching to the layer of rock 65 feet (20 m) below the street. Concrete was then poured in between these caissons to create a watertight cofferdam measuring 6 to 7 feet (1.8 to 2.1 m) thick. The membrane was needed because the surrounding ground was filled with quicksand. Afterward, the lot was excavated, the Gillender Building's foundations were removed, and deep foundations were placed within
40443-433: The south. The 18-story Manhattan Life Building, completed in 1894, was in the middle of the block, at 64 Broadway. That structure was slightly extended north in 1904 to encompass all lots between 64 and 70 Broadway. The Knickerbocker Trust Company bought the land immediately south of the Manhattan Life Building in early 1906, and finalized building plans the next year. The 22-story Knickerbocker Trust building at 60 Broadway
40664-497: The space. On the north wall is a bronze-clad entrance vestibule, while on the south wall are frosted double glass doors leading to the elevator foyer. There are arched windows on the eastern and western walls, as well as doors on the northern and southern walls. Each of the windows to the east and west has a deep sill, and there are also lancet windows on either side of the entrance to the north. There are radiators with ornate bronze grilles beneath each window. When Irving Trust occupied
40885-512: The style had been chosen for its "simplicity and grace, as well as its supreme dignity and seriousness", which fit both the site and the building's use. Inspirations include the Erechtheion , the Mausoleum of Halicarnassus , and "ancient Macedonian prototypes". The original structure is a 39-story tower without any setbacks , composed of 32 stories topped by a seven-story roof. The concept behind
41106-439: The teenage birth rate is based on a small sample size. Financial District and Lower Manhattan have a low population of residents who are uninsured . In 2018, this population of uninsured residents was estimated to be 4%, less than the citywide rate of 12%, though this was based on a small sample size. The concentration of fine particulate matter , the deadliest type of air pollutant , in Financial District and Lower Manhattan
41327-403: The time of 1 Wall Street's construction, limestone was a relatively expensive material and was rarely used for a building's entire facade, with cheaper brick being used instead. 1 Wall Street also contains numerous setbacks on its exterior. Though setbacks in New York City skyscrapers were mandated by the 1916 Zoning Resolution to allow light and air to reach the streets below, they later became
41548-414: The time of its construction; the first three floors were used as Bankers Trust's headquarters, while the rest were rented to tenants. A notable building in Manhattan's skyline in the early 20th century, the building was featured prominently in Bankers Trust's early imagery. The building was designated a New York City landmark in 1997. It is also a contributing property to the Wall Street Historic District ,
41769-458: The time, the building was valued at $ 250 million. BNY acquired Irving Trust in December 1988. BNY decided to sell its old headquarters at 48 Wall Street and relocate its headquarters to 1 Wall Street. BNY (renamed BNY Mellon in 2007) opened a museum on the 10th floor in 1998, which was dedicated to the history of both banks. During the same time, BNY hired Hoffmann Architects to conduct mortar repair and window replacements. While 1 Wall Street
41990-465: The time, the project was the largest conversion of office space to residential space in New York City, covering nearly 1.2 million square feet (110,000 m). As part of the renovation, 34 elevators and 16 escalators were removed. The original layout of the building included elevators near the perimeter wall, but this took up usable space near windows. As such, Macklowe removed 20 of the elevators that served upper floors and added 10 new elevators in
42211-401: The top of the frame. While the workers were securing the final rivets, a hot steel rivet fell from the building's top and hit a truck below, narrowly missing the truck driver's head and causing a small fire on the street. The exterior was completed by August 1930. Several hundred boxcars were used to transport the building's Indiana limestone to New York City; according to railroad workers, it was
42432-403: The upper floors were slated to be rented to other companies. By May 1911, The Wall Street Journal reported that "a large amount of office space" had already been rented in the building. Asking rates for rental space was $ 4 per square foot ($ 43/m ), equivalent to $ 131 per square foot ($ 1,410/m ) in 2023; this rate was higher than in other buildings in the area due to 14 Wall Street's proximity to
42653-469: The upper portions of the walls, drawing visitors' attention toward the ceiling. The mosaic also contains abstract gold patterns. The rest of the walls is made of Pyrenees black marble, and the columns are made of Verona red marble, similar to a design used in the Stockholm City Hall . The two columns are placed on an east-west axis and have bronze capitals. At the northern and southern ends of the room,
42874-422: The vault door alone weighed 40 short tons (36 long tons; 36 t). The vault walls were 28 inches (710 mm) thick, with 24 inches (610 mm) of concrete and 4 inches (100 mm) of "shock and drill-proof steel". This would prevent both standard explosives and oxyacetylene cutters from penetrating the vault. The columns and beams that reinforce the vault are so strong that "a shock sufficient to disturb
43095-404: The vault would bring the building down in ruins upon it". Inside, the vault was split into numerous aisles with combination locks; each safe in the vault required two officers to open. When the building was completed, the basement also had a mail carriers' station, where couriers could collect packages and deliver them to tenants. The third basement contained ventilation openings and fans, while
43316-471: Was "Art Deco in many respects", historian Anthony Robins characterized the building as being "Gothic Modern—a skyscraper reflection of Trinity Church". Walker had designed other Art Deco buildings in the New York City area, mainly telecommunications structures. These included the Barclay–Vesey Building (1927), New Jersey Bell Headquarters Building (1929), 60 Hudson Street (1930), and 32 Avenue of
43537-431: Was 85% rented. J.P. Morgan & Co. had originally planned to move into 14 Wall Street, with Morgan occupying the 32nd-story apartment, but these plans were canceled shortly after the building opened. After Bankers Trust was investigated by the U.S. Congress's Pujo Committee for monopolistic practices, J.P. Morgan & Co. built another structure to the southeast at 23 Wall Street. By 1917, Bankers Trust had become
43758-480: Was 85 percent occupied. Among the tenants were several members of the New York Stock Exchange and Curb Exchange . The Irving Trust Company moved into the building on March 23, 1931. Two hundred guards armed with machine guns moved the bank's $ 8 billion holdings from its former location at the Woolworth Building. The same day, 1 Wall Street opened to public use, with thousands of visitors. By that time,
43979-410: Was a small room on the south side of the second floor, which was dedicated to Henry Pomeroy Davison of the bank's executive committee. Three elevators connected the Bankers Trust office floors and rose only to the fourth floor. Unusual for buildings of the time, the lower portion of the shared elevator shaft was covered in marble, while the upper portion was plate glass. The fourth floor contained
44200-473: Was accepted. The firm submitted plans for 14 Wall Street to the New York City Department of Buildings on April 20, 1910. The first stage of construction commenced in April 1910 with the demolition of the Gillender Building, which The New York Times claimed to be the first skyscraper that was demolished to make way for a taller skyscraper. Demolition of the Stevens Building started the same month, and both buildings had been demolished by June 1910. After
44421-562: Was an "Art Deco masterpiece". In a 2001 analysis, the Times characterized the Empire State Building, the Chrysler Building, and 1 Wall Street as three great Art Deco buildings in New York City. Stern stated that in 1 Wall Street's design, "structure became an unseen prop for poetry"; he further called the building's form "a natural precipice of stone shaped by erosion". Architectural writer Eric P. Nash called 1 Wall Street "one of
44642-407: Was awarded $ 237,500 in damages in January 1934, about a quarter of what it had sued for. In addition, Bankers Trust was released from all liability for any damage caused during construction. Meanwhile, in November 1931, contractors began working in two five-hour shifts per day instead of one eight-hour shift, doubling the number of jobs as well as increasing daily productivity. The 25-story annex
44863-419: Was built between 1910 and 1912. An addition to the north and west was designed by Shreve, Lamb & Harmon and constructed between 1931 and 1933. This addition is about 325 feet (99 m) tall. 14 Wall Street's "granite-clad roof and its specifically Greek architectural motifs", as described by architectural writer Sarah Landau , which were a departure from earlier designs. The architects wrote that
45084-492: Was completed in 1909 and contained a ground-floor banking room, a private penthouse restaurant, and eight elevators. There was a 23-foot-wide (7.0 m) space between the Manhattan Life and Knickerbocker Trust buildings. A 10-inch (0.3 m) strip of land on the northern side of the gap was sold to John E. Schermerhorn in 1912. The Schermerhorn family subsequently built an eight-story taxpayer building at 62 Broadway, within
45305-467: Was completed in 1932, and the staff moved back into 14 Wall Street. The bank hired brokers Brown, Wheelock, Harris & Co. that October to lease out its former space in the original structure. The old building's main entrances were relocated, and its third story was also added; these renovations were completed in March 1933. The project tripled 14 Wall Street's rentable area. Bankers Trust officially opened
45526-435: Was composed of 3 feet (0.91 m) of concrete and a thick layer of metal. The vault had three stories, of which the top level was used by safe-deposit customers, and the lower floors stored Irving Trust's own fortunes. Each story had 2,700 square feet (250 m) of space. There were six vault doors, each measuring 30 inches (760 mm) thick; the doors were laced with chemicals that reportedly emitted "paralyzing fumes" if
45747-440: Was constructed in 1931–1933 to replace three other structures. After new buildings for Bankers Trust were erected in 1962 and 1974, the company moved employees away from 14 Wall Street, and eventually sold the building in 1987. 14 Wall Street's tower incorporates a seven-story pyramidal roof inspired by the Mausoleum at Halicarnassus . The interior of the building contained numerous amenities that were considered state-of-the-art at
45968-512: Was designed by Ralph Walker of the Voorhees, Gmelin and Walker in the Art Deco style. The annex was designed by Voorhees, Gmelin and Walker's successor firm Voorhees, Walker, Smith, Smith & Haines . Everett Meeks, the dean of the Yale School of Art , was the original building's design consultant. The original building reaches 50 stories and stands 654 feet (199 m) tall. The southern annex
46189-476: Was developed by a syndicate from St. Louis, headed by Festus Wade of the St. Louis Mercantile Trust Company. In mid-1905, the company paid $ 700,000 for the 1,131-square-foot (105.1 m) plot, or an average of $ 576 per square foot ($ 6,200/m). The next year, the syndicate announced that it would start erecting an 18-story structure at 1 Wall Street. The Chimney Building was completed in 1907, and for years afterward, its site
46410-557: Was laid on January 15, 1930. During the construction process, nearby structures such as Trinity Church were shored up. That March, Irving Trust signed an agreement with the Interborough Rapid Transit Company —at the time, one of the operators of the city's subway system—to build three new entrances to the Wall Street station on Broadway and another entrance in 1 Wall Street's basement. Excavations began in July 1930, and work on
46631-406: Was located 69 to 72 feet (21 to 22 m) below ground level. At the time of the building's 1931 completion, the vault was the second-largest in the city and third-largest in the world, behind those of the Federal Reserve Bank of New York Building and the Bank of England . The vault was encased on three sides by a 6-foot-thick (1.8 m) wall composed of iron, steel, and concrete; the fourth side
46852-416: Was located at Liberty and Washington Streets, with eight staff working in two basement rooms. The Bankers Trust ultimately acquired space in the Gillender Building, having been induced to move there because of the proximity of the New York Stock Exchange . The company, with J. P. Morgan on the board, grew rapidly and intended to land itself permanently in the "vortex of America's financial life". During
47073-626: Was nearly double the 23,000 recorded at the 2000 Census. In the New York City Council , the Financial District is part of District 1 , represented by Democrat Christopher Marte . List of aldermen /councilmen who have represented the Financial District The Financial District is part of New York's 27th State Senate district , represented by Brian P. Kavanagh . In the New York State Assembly ,
47294-454: Was not damaged following the September 11 attacks at the nearby World Trade Center in 2001, BNY's operations were disrupted, and 1 Wall Street had to be cleaned up. By January 2014, BNY Mellon was looking to sell its headquarters, as it was moving to a location with less space. In May 2014, BNY Mellon sold the building to a joint venture led by Harry B. Macklowe 's Macklowe Properties for $ 585 million, though BNY Mellon continued to occupy
47515-484: Was one of the largest air-conditioning retrofits ever undertaken in the New York City area at the time. The original building soon became too small to accommodate the operations of Irving Trust and its tenants. Accordingly, in 1961, Irving Trust purchased the three buildings at 60, 62, and 70 Broadway from Hanover Bank , thereby giving Irving Trust control of the entire block between Broadway, Wall Street, New Street, and Exchange Place. The company initially anticipated that
47736-446: Was originally 28 stories tall with a height of about 391 feet (119 m), but it was expanded in 2019 to 36 stories with a height of about 494 feet (151 m). SLCE Architects designed the building's residential conversion in the late 2010s and early 2020s, including the addition to the southern annex. Dormer structures of up to two stories are located on the tops of both sections. Although author Daniel Abramson said 1 Wall Street
47957-485: Was regarded as the world's most valuable. Adjoining the Chimney Building were between three and five other structures, ranging from approximately 10 to 20 stories high. The oldest of these was the Union Trust Building, which was erected in 1889 and had 8-foot-thick (2.4 m) masonry walls because engineers of the time did not know how much steel the building required. One of the twelve-story structures surrounded
48178-403: Was supposed to have been an apartment, which J. P. Morgan had an option to occupy. He chose not to pursue the option due to antitrust proceedings ongoing against Bankers Trust at the time of the building's completion, and the space was instead converted to an observation deck. The space measured 70 by 70 feet (21 by 21 m) and was illuminated by 36 windows. The New York Times reported at
48399-416: Was surrounded on all sides by other skyscrapers, thereby limiting visibility of the lower section, the lower floors were designed with intricate detail. The upper basement and the first floor were arranged as a stylobate that supported a colonnade above it. The basement facade is smooth, while the first-floor facade consists of rusticated blocks. An entrance porch, with the address 16 Wall Street, faces
48620-596: Was the first office structure in Lower Manhattan to use alternating current for electric power. It included a network of pneumatic tubes for sending documents between floors. When 1 Wall Street was converted to residential use, all of the elevators were moved to the center of the building. There is 1,165,645 sq ft (108,292 m) of interior space, of which the original building had 500,000 square feet (46,000 m) of floor space. The original building's first through 21st stories each spanned 15,000 square feet (1,400 m). There are also five basement levels under
48841-400: Was used in place of the wood trim that was used for decoration in other buildings, and a sprinkler system was placed in the roof. Bankers Trust's offices occupied basement levels A and B, as well as the first, second, and fourth stories. The offices housed the banking, trust, and foreign departments of Bankers Trust. These offices were designed "in a pure classic style"; the metalwork in
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