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100-691: 1 Wall Street Court (also known as the Beaver Building and the Cocoa Exchange ) is a residential building in the Financial District of Manhattan in New York City , United States. The 15-story building, designed by Clinton and Russell in the Renaissance Revival style, was completed in 1904 at the intersection of Wall , Pearl , and Beaver Streets . The building is shaped similarly to

200-587: 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

300-474: A flatiron because of its position at an acute angle formed by the junction of Pearl and Beaver Streets. 1 Wall Street Court's articulation consists of three horizontal sections similar to the components of a column , namely a base, shaft, and capital . The base is faced with stone, the shaft contains alternating bands of buff and tan brick, and the capital contains multicolored terracotta ornamentation depicting geometric shapes. There are carved beavers over

400-555: A flatiron , but its design was largely overlooked in favor of other buildings such as the Flatiron Building at 23rd Street . 1 Wall Street Court's articulation consists of three horizontal sections similar to the components of a column , namely a base, shaft, and capital . The two principal elevations on Pearl and Beaver Streets are joined by a rounded corner on Wall Street. The windows on each side are arranged into bays , with six each on Pearl and Beaver Streets and three on

500-590: 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

600-679: A speculative development on a narrow lot at Beaver and Pearl Streets. The Remington Construction Company was hired as the contractor for the building, which was planned to cost $ 600,000. Work began in June 1903. Ownership of the Beaver Building was transferred the next month to the Beaver and Wall Street Corporation. During construction, some of the workers went on strike, prompting the Remington Construction Company to hire longshoremen for

700-581: 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

800-479: 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

900-424: 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

1000-416: A hot one. In the industrialized world, these designs have been superseded by the electric iron, which uses resistive heating from an electric current . The hot plate, called the sole plate , is made of aluminium or stainless steel polished to be as smooth as possible; it is sometimes coated with a low-friction heat-resistant plastic to reduce friction below that of the metal plate. The heating element

1100-502: A long time to heat. The UK Electricity Association is reported to have said that an electric iron with a carbon arc appeared in France in 1880, but this is considered doubtful. Two of the oldest sorts of iron were either containers filled with a burning substance, or solid lumps of metal which could be heated directly. Metal pans filled with hot coals were used for smoothing fabrics in China in

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1200-744: 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

1300-509: 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,

1400-466: 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,

1500-562: 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

1600-402: A pleasing scheme of decoration for the top stories of a tall building". Architects' and Builders' Magazine, conversely, stated that the terracotta panels served "to strengthen the outline of the building and make it a notable feature amid its surroundings". The New York City Landmarks Preservation Commission made 1 Wall Street Court an official city landmark on February 13, 1996. The building

1700-552: 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

1800-505: A residential building. The conversion was completed around 2006, and the building became a residential condominium development with 126 units. A sushi restaurant was also opened at the building's base. The building was used as the setting for the exterior shots of the Continental Hotel in the 2014 film John Wick . 1 Wall Street Court was one of the first tall structures in New York City to use multicolored glazed terracotta. Prior to

1900-636: 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

2000-565: A system of pipes for distributing natural gas or carbide gas to different rooms in order to operate appliances such as irons, in addition to lights. Despite the risk of fire, liquid-fuel irons were sold in U.S. rural areas up through World War II. In Kerala in India, burning coconut shells were used instead of charcoal, as they have a similar heating capacity. This method is still in use as a backup device, since power outages are frequent. Other box irons had heated metal inserts instead of hot coals. From

2100-685: 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

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2200-464: Is NewYork-Presbyterian Lower Manhattan Hospital in the Civic Center area. Clothes iron Ironing works by loosening the ties between the long chains of molecules that exist in polymer fiber materials. With the heat and the weight of the ironing plate, the fibers are stretched and the fabric maintains its new shape when cool. Some materials, such as cotton, require the use of water to loosen

2300-406: 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

2400-562: 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

2500-541: Is about 90,000 square feet (8,400 m). The first-story and mezzanine space was intended to be used by banks, while the basement was reserved for restaurants. The basement still serves as its original purpose, but the National Park Service could not determine if a bank ever used the first story and mezzanine. The first floor is about 4 feet (1.2 m) above street level and contains lobbies, commercial space, and elevator access. The main lobby on Pearl Street and

2600-406: Is controlled by a thermostat that switches the current on and off to maintain the selected temperature. The invention of the resistively heated electric iron is credited to Henry W. Seeley of New York City in 1882. In the same year an iron heated by a carbon arc was introduced in France, but was too dangerous to be successful. The early electric irons had no easy way to control their temperature, and

2700-462: 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

2800-652: 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

2900-405: Is reached by a stair on the west side. The second floor was used as office space for its first hundred years. A "typical floor" would have an elevator landing on the west, a corridor extending east, and offices on either side of the corridor as well as at the narrow corner. The corridors were originally made of mosaic and marble, while the office floors were cement, and there were glass panels along

3000-933: 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

3100-451: 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

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3200-531: 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

3300-649: The West Side Highway on the west, Chambers Street and City Hall Park on 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

3400-496: The 17th century, sadirons or sad irons (from Middle English "sad", meaning "solid", used in English through the 1800s ) began to be used. They were thick slabs of cast iron , triangular and with a handle, heated in a fire or on a stove. These were also called flat irons. A laundry worker would employ a cluster of solid irons that were heated from a single source: As the iron currently in use cooled down, it could be quickly replaced by

3500-553: The 1920s, few buildings in the city used this type of material, exceptions including the Madison Square Presbyterian Church and the Broadway–Chambers Building . The writer Herbert Croly , in an Architectural Record article, was a proponent of such decoration. However, he was critical of its use on 1 Wall Street Court, saying that the tiles did not "harmonize with each other, nor do they constitute

3600-581: The 1930s, these tenants had started to move elsewhere, and the Munson Line itself suffered from financial difficulties throughout the 1920s and 1930s. A first mortgage loan of $ 750,000 was placed on the Beaver Building in 1928. In April 1931, the New York Cocoa Exchange —at the time described by the Brooklyn Daily Eagle and The New York Times as the world's largest cocoa market—moved to

3700-411: 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

3800-430: The 1st century BC. A later design consisted of an iron box which could be filled with hot coals, which had to be periodically aerated by attaching a bellows. In the late nineteenth and early twentieth centuries, there were many irons in use that were heated by fuels such as kerosene , ethanol , whale oil , natural gas , carbide gas ( acetylene , as with carbide lamps ), or even gasoline . Some houses were equipped with

3900-478: 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

4000-545: 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

4100-657: 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

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4200-418: 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

4300-636: The Beaver Building in June 1937. As part of the lease extension, the Bowery Savings Bank hired F. P. Platt & Bros to expand the mezzanine above the first floor for the Cocoa Exchange's use, increasing the exchange's floor area from 2,300 square feet (210 m) to 5,600 square feet (520 m). In October 1937, the bank announced plans to renovate the building at a cost of between two and three hundred thousand dollars. The Beaver Building's electrical, heating, and plumbing systems would be replaced, and

4400-459: The Beaver Building, at which point about 70 percent of the space was vacant. After purchasing the building, London & Leeds renamed it One Wall Street Court and renovated the interior, refurbishing the lobby, elevators, and electrical and HVAC systems. Inside, the first-floor partition wall was removed and the mezzanine stair was again replaced. In addition, various improvements were made to the exterior; new windows and window louvers were installed,

4500-661: The Beaver-Munson Building from its original headquarters at 124 Water Street. By 1937, the Munson Building Corporation had a debt of $ 831,690, and the Beaver Building was foreclosed upon. The Beaver Building and a four-story extension at 80 Beaver Street went up for auction in April 1937. The winning bid was from the Bowery Savings Bank , who had bid $ 500,000. The New York Cocoa Exchange leased more space in

4600-585: 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

4700-579: 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

4800-578: 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

4900-505: 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

5000-616: 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

5100-552: The Swan Club. The building was sold again in 1951, this time to an investment syndicate represented by lawyer David Rapoport. At the time, the Buffet Exchange Restaurant and the Cocoa Exchange were both lessees of the space. Records indicate that the lobby was renovated again during 1952, during which deteriorated marble paneling was removed. Sources disagree on the order of subsequent sales. According to The New York Times ,

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5200-636: 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

5300-420: 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

5400-402: 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

5500-531: 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

5600-637: 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

5700-406: 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

5800-520: 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

5900-546: 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

6000-420: 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

6100-460: 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 ,

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6200-473: The base masonry was painted, and metal lights were fixed. The windows in the basement were covered over. The building was purchased in 1994 by Cocoa Partners, a limited partnership based in Cohasset, Massachusetts . Sometime after the Cocoa Exchange moved out, the commercial space was occupied until 2002 by a large shop called J&R Discount Cigars. By mid-2004, 1 Wall Street Court was undergoing conversion into

6300-518: The block bounded by Hanover Street to the west, Pearl Street to the southeast, and Beaver Street to the north, with facades on Pearl and Beaver Streets. The building faces eastward toward the five-pointed intersection of Pearl, Beaver, and Wall Streets . It is near 55 Wall Street and 20 Exchange Place to the northwest, 63 Wall Street to the north, and 75 Wall Street to the east. The property measures 122 feet (37 m) on Beaver Street, 136 feet (41 m) on Pearl Street, 20 feet (6.1 m) on

6400-509: The building's western end, originally leading to the elevator lobby. The entrance on Pearl Street, which was formerly located under the Third Avenue elevated line , is more simply designed and contains revolving doors under a canopy. The entrance at Beaver Street has a pediment with carvings of beavers framing a cartouche with the words " munson line building ". The other windows on the first story are generally double-height windows, indicating

6500-537: The city". Further renovations led to the replacement of the floors, walls, and doors. By 2006, the office space was converted to 126 condominium apartments. During the late 19th century, builders began erecting tall office buildings in New York City, especially in Lower Manhattan, where they were compelled to build tall structures due to a lack of available land. One such project was led by the Century Realty Company, who hired Clinton and Russell in 1903 to design

6600-421: 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

6700-538: 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

6800-451: The corridors prior to the building's 1937 renovation. In the original layout, toilets were placed on the second, fourth, and tenth floors. Because of the interior arrangement and small lot size, all of the interior space was directly lit by a window. Architects' and Builders' Magazine said upon the building's completion that 1 Wall Street Court contained possibly "a larger window area relative to floor space than in any other office building in

6900-478: 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

7000-401: The facade would be extensively cleaned. The interiors would also receive major modifications, with new automatic elevators and rearranged interior partitions. The first floor partition wall was relocated to the west and a new stair was built to the mezzanine. The Bowery Savings Bank sold the Beaver Building and its four-story annex in 1944 to investor Jerome Greene; at the time, the annex housed

7100-477: 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

7200-723: 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

7300-528: The first thermostatically controlled electric iron appeared in the 1920s. The first commercially available electric steam iron was introduced in 1926 by a New York drying and cleaning company, Eldec, but was not a commercial success. The patent for an electric steam iron and dampener was issued to Max Skolnik of Chicago in 1934. In 1938, Skolnik granted the Steam-O-Matic Corporation of New York the exclusive right to manufacture steam-electric irons. This

7400-400: The freight lobby on Beaver Street are connected by a corridor with four elevators. The commercial space is accessed by the corner entrance, which contains a wooden vestibule with a revolving door . The elevator lobby contains a barrel-vaulted ceiling, wood-paneled and mirrored walls, and wood-and-metal elevator doors. The mezzanine, a U-shaped space above 2 ⁄ 3 of the first floor,

7500-470: 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

7600-478: The intermolecular bonds. Before the introduction of electricity, irons were heated by combustion, either in a fire or with some internal arrangement. The said iron was made as a solid piece of iron with a handle and was heated, for example, on a wood stove and used to smooth clothes. It can also be called a smoothing iron. An "electric flatiron" was invented by American Henry Seely White and patented on June 6, 1882. It weighed almost 15 pounds (6.8 kg) and took

7700-479: The intersection with Wall Street, and 88 feet (27 m) on the west. The plot covers 9,300 square feet (860 m). Including a four-story annex at 80 Beaver Street, it measures 140 feet (43 m) on Beaver Street and 157 feet (48 m) on Pearl Street. The narrow lot was a result of the Financial District's street grid, as outlined in the Castello Plan , a street map for the Dutch colony of New Amsterdam . The site

7800-464: The main entrance facing Pearl and Beaver Streets, signifying the building's original name. The superstructure is of steel frame construction. The Beaver Building was constructed between 1903 and 1904 as a speculative development . The building served as the headquarters of the Munson Steamship Line from 1904 until 1921, and the company owned 1 Wall Street Court from 1919 to 1937. The building

7900-585: 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

8000-414: 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

8100-505: The offices and headquarters of many of the city's major financial institutions , including 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

8200-533: The original layout, all woodwork was covered with fireproof materials; the floors of the corridors were made of mosaic and marble, while the office floors were made of cement. 1 Wall Street Court contains four elevators along its western side. An enclosed fire stair with marble treads is on the building's northwest corner. As built, 1 Wall Street Court also had two 300 horsepower (220 kW) boilers that provided steam for three electric generators aggregating 275 kilowatts (369 hp). The total amount of interior space

8300-496: 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

8400-428: 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

8500-579: The presence of the mezzanine inside. Above the second story are ornamental cartouches over carvings of beaver heads. There are panels between the window groupings on the third story, and a cornice over the third story. The nine-story shaft is composed of alternating bands of buff and tan brick. The windows are surrounded by glazed green terracotta tiles. The three-story capital is ornamented with multicolored glazed terracotta tiles in green, cream, and russet hues. The windows are separated into pairs surrounded by double-story neoclassical outlines. The terracotta

8600-549: The project. Construction was completed in October 1904. Original floor plans indicate that the first story had a partition between the two commercial spaces to the west and east; only the western space had a mezzanine. The Munson Line , a steamship -line company operating from the United States to the Caribbean and South America, took up offices in the Beaver Building in May 1904. The building

8700-601: The property was then sold to Klausner Associates, and then to investor Arthur H. Bienenstock in 1959, with the latter planning to renovate the elevators and clean the exterior. However, the New York City Landmarks Preservation Commission states that 82 Beaver Company owned the Cocoa Exchange Building between 1951 and 1981. The Cocoa Exchange moved to 127 John Street in 1972. In January 1985, British developers London & Leeds acquired

8800-482: The rounded corner. These bays generally have one window per floor on the first and second stories, and two windows per floor above; on two of the corner bays, there is one window per floor on the first through twelfth stories, and two windows per floor above. The western facade, treated as the rear of the building, is a plain brick wall with windows. There was a fire escape on the Pearl Street side, dating from 1916, but

8900-439: 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

9000-607: The world's larger collection of irons, comprising 1300 historical examples of irons from Germany and the rest of the world, is housed in Gochsheim Castle , near Karlsruhe , Germany . Many ethnographical museums around the world have collections of irons. In Ukraine , for example, about 150 irons are the part of the exhibition of the Radomysl Castle in Ukraine. An ironing center, steam ironing station, or steam generator iron

9100-427: Was foreclosed upon in 1937, and ownership subsequently passed to several other entities, including the Bowery Savings Bank . The New York Cocoa Exchange was another large tenant, occupying the building between 1931 and 1972. The commercial spaces on ground level, as well as the interior offices, were significantly altered from their original design, with major renovations in 1937 and the mid-1980s. 1 Wall Street Court

9200-535: Was added to the National Register of Historic Places on July 6, 2005. In 2007, the building was designated as a contributing property to the Wall Street Historic District , a NRHP district. 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

9300-454: Was converted into a residential condominium building in 2006. The building was designated a city landmark by the New York City Landmarks Preservation Commission in 1995 and was added to the National Register of Historic Places (NRHP) in 2005. It is also a contributing property to the Wall Street Historic District , a NRHP district created in 2007. 1 Wall Street Court is in the Financial District of Lower Manhattan . It occupies most of

9400-482: Was historically part of the estate of pirate William Kidd . Nearby buildings include the Wall and Hanover Building to the north and 20 Exchange Place to the northwest. 1 Wall Street Court was designed by Clinton and Russell in the Renaissance Revival style . It is 205 feet (62 m) tall with 15 stories and a partially raised basement. 1 Wall Street Court is one of a few buildings in Lower Manhattan that are shaped like

9500-626: 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 ,

9600-455: Was originally sandblasted to reduce the glaze. The top of the building contains a terracotta cornice. The cornice originally contained copper cresting, although that was removed after 1940. The roof has a gravel surface, and contains a skylight and some heating, ventilation, and air conditioning (HVAC) equipment. 1 Wall Street Court contains a superstructure made entirely of steel. The floor arches and partitions are made of fireproof brick. In

9700-402: Was removed in the early 21st century. The three-story base is faced with ashlar of granite and Indiana limestone . At the main corner, facing the intersection of Beaver, Wall, and Pearl Streets, there is a rounded stoop leading to the building's first story. This door is underneath an entablature with a rounded sign reading " THE NEW YORK COCOA EXCHANGE inc. " Additional entrances were on

9800-531: Was renamed the Beaver-Munson Building. Shortly afterward, the company announced plans for the 25-story Munson Building at 67 Wall Street, across Beaver Street from the Beaver Building. When the Munson Building opened in 1921, it replaced the Beaver Building as the Munson Line's headquarters. The Munson Line retained ownership of the Beaver Building, which continued to be occupied by tenants involved mainly in shipping, produce, and importing and exporting. However, by

9900-496: Was sold to the Hoffman family in 1905 for $ 1.25 million in cash. The New York Times described the transaction as the "first cash purchase of a downtown skyscraper reported in several years". The Munson Steamship Line bought the Beaver Building in July 1919, when the building was estimated to be worth $ 1.5 million. The Beaver Building was intended as the headquarters of the Munson Line, so it

10000-431: Was the first steam iron to achieve any degree of popularity, and led the way to more widespread use of the electric steam iron during the 1940s and 1950s. Historically, irons have had several variations and have thus been called by many names: Proper ironing of clothes has proven to be an effective method to avoid infections like those caused by lice . Modern irons for home use can have the following features: One of

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