122-834: The Morse Building , also known as the Nassau–Beekman Building and 140 Nassau Street , is a residential building in the Financial District of Manhattan in New York City , at the northeast corner of Nassau and Beekman Streets. The Morse Building, designed by Benjamin Silliman Jr. and James M. Farnsworth, contains elements of the Victorian Gothic , Neo-Grec , and Rundbogenstil style. The Morse Building uses polychrome brickwork and terracotta cladding to highlight its fenestration . Its interior structure consists of
244-587: 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
366-590: 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
488-581: 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
610-431: A balcony. The architects had to work around existing tenants with minimal interruption in operations. For instance, foundation work had to be done in two phases since the cellar tenant could only make half of the cellar available at any given time. Elevator service was also maintained throughout the project, and so work on the new elevators was done one floor at a time. The project faced several legal issues. A cafe owner at
732-675: A development trend that had started after the Panic of 1873 . The Real Estate Record and Guide stated in 1882 that the Tribune, Times, Morse, and Temple Court buildings were close to the courts of the Civic Center, making these buildings ideal for lawyers. When the old New York World building across Nassau Street burned in January 1882, the lower floors of the Morse Building suffered minor damage. Some of
854-479: 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
976-424: 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
1098-655: A floor count of 50 stories as the cutoff. This table lists buildings that are proposed for construction in New York City and are expected to rise at least 650 feet (198 m) in height. For buildings whose heights have not yet been released by their developers, this table uses a floor count of 50 stories as the cutoff. ft (m) * Table entries with dashes (—) indicate that information regarding building heights or dates of completion has not yet been released. This table lists buildings in New York City that were destroyed or demolished and at one time stood at least 500 feet (152 m) in height. This lists buildings that once held
1220-703: A height of at least 650 feet (198 m). Buildings under construction that have already been topped out are also included, as are those whose construction has been suspended. For buildings whose heights have not yet been released by their developers, this table uses a floor count of 50 stories as the cutoff. * Table entries with dashes (—) indicate that information regarding expected building heights or dates of completion has not yet been released. This table lists buildings that are approved for construction in New York City and are expected to rise at least 650 feet (198 m) in height. For buildings whose heights have not yet been released by their developers, this table uses
1342-744: 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
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#17330845191381464-444: A mortgage in his half-interest was given to Matilda C. McVicker. The next year, Sidney Jr. sold Gilbert's share of the building to lawyer Nathaniel Niles, who purchased the building as an investment. In 1894, when a crack appeared in the facade during construction of the adjacent 150 Nassau Street, there were fears that the Morse Building was structurally unstable, though engineers said it was not serious. The American Tract Society , who
1586-509: 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,
1708-466: 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,
1830-562: 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
1952-552: 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
2074-450: A rank indicates the same height between two or more buildings. An asterisk (*) indicates that the building is still under construction but has been topped out. The "Year" column indicates the year in which a building was completed. This list ranks buildings in New York City based on pinnacle height measurement, which includes antenna masts. Standard architectural height measurement, which excludes non-architectural antennas in building height,
2196-603: A residential building in 1980, with 39 apartments. The building was designated a landmark by the New York City Landmarks Preservation Commission in 2006. The Morse Building is also a contributing property to the Fulton–Nassau Historic District , a National Register of Historic Places district created in 2005. The Morse Building is in the Financial District of Manhattan , just east of New York City Hall , City Hall Park , and
2318-666: A result, a trench was dug along the north wall below the sub-basement level. Four longitudinal distributing beams were installed, serving as grillages for short vertical center posts that rose to horizontal transverse girders; these transverse girders served as cantilevers , more evenly distributing the force placed on each footing. The floors were constructed of 15-inch-thick (380 mm) iron I-beams placed at intervals of 7 feet (2.1 m) and supported at both ends by brickwork. These beams were spanned by fireproof corrugated arches infilled with concrete. Two transverse partition walls, whose centers were 17 feet (5.2 m) apart, separate
2440-636: 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
2562-545: A speculative office building to replace the hotel. Plans for the demolition of the Park Hotel were announced in April, with work to commence the following month. Silliman and Farnsworth had been hired to design the speculative office building, containing banking quarters on the lower floors and offices on the upper floors. By June, work had started on the new building, to cost $ 175,000. The Real Estate Record and Guide noted in 1879 that
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#17330845191382684-433: A steel frame placed upon a foundation that descends to an underlying layer of sand. The Morse Building was developed by G. Livingston and Sidney E. Morse, nephews of telegraph inventor Samuel F. B. Morse and sons of the site's previous owners. It was constructed from June 1878 to March 1880 and was one of the tallest buildings in New York City when completed, standing at 140 feet (43 m) with ten stories. As completed,
2806-685: 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
2928-674: Is NewYork-Presbyterian Lower Manhattan Hospital in the Civic Center area. List of tallest buildings in New York City New York City , the most populous city in the United States, is home to more than 7,000 completed high-rise buildings of at least 115 feet (35 m), of which at least 102 are taller than 650 feet (198 m). The tallest building in New York is One World Trade Center , which rises 1,776 feet (541 m). The 104-story skyscraper also stands as
3050-406: 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
3172-595: 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 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
3294-562: 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
3416-462: 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
3538-486: Is included for comparative purposes. An equal sign (=) following a rank indicates the same height between two or more buildings. The "Year" column indicates the year in which a building was completed. This lists the tallest building in each borough of New York City based on standard height measurement. The "Year" column indicates the year in which a building was completed. This lists buildings that are currently under construction in New York City and are expected to rise to
3660-652: 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
3782-534: Is one of the oldest remaining fireproof skyscrapers in New York City. Benjamin Silliman Jr. and James M. Farnsworth designed the Morse Building's lowest eight stories, built between 1878 and 1880. The structure was the firm's first major project in New York City; the firm had designed the Morse Building as a 10-story structure, but the top two stories were subsequently rebuilt. The upper six stories were designed by William P. Bannister and Richard Montgomery Schell and built from 1901 and 1902. The building's original design
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3904-600: Is patrolled by the 1st Precinct of the New York City Police Department . The Financial District encompasses roughly 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
4026-933: 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
4148-451: 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
4270-663: The Civic Center . It is bounded on the west by Nassau Street , on the south by Beekman Street, on the east by 8 Spruce Street , and on the north by 150 Nassau Street . 5 Beekman Street is diagonally across the intersection of Nassau and Beekman streets, while the Potter Building and 41 Park Row are directly across Nassau Street. The Morse Building occupies a plot measuring 85.25 feet (25.98 m) on Nassau Street and 69.58 feet (21.21 m) on Beekman Street. The Morse Building stands 180 feet (55 m) tall with 14 stories and
4392-518: The Equitable Life , Western Union , and Tribune buildings in the early 1870s. These relatively short early skyscrapers , sometimes referred to as "preskyscrapers" or "protoskyscrapers", included features such as a steel frame and elevators—then-new innovations that were used in the city's later skyscrapers. Modern skyscraper construction began with the completion of the World Building in 1890;
4514-528: The Portland Company were installed, replacing the old staircase and elevators. The original oil lamps and gas pipes were replaced with electric lighting and steam heating; the plumbing was replaced; and the boiler was brought to the top of the new roof. The Morse Building housed offices when it was completed, but in 1980, it was converted to 39 apartments with three units on each floor, ranging from 1,200 to 2,000 square feet (110 to 190 m) in size. During
4636-513: The boroughs of Brooklyn , Queens , and the Bronx also contain some high-rises. As of March 2024 , there were 317 completed skyscrapers that rose at least 492 feet (150 m) in height, more than any other city in the Western Hemisphere, and third most in the world exceeded only by Hong Kong and Shenzhen . The history of skyscrapers in New York City began with the construction of
4758-411: The mortar . It was also one of the first structures to use ornamental terracotta. The current facade is divided into three horizontal sections: a two-story base, a six-story midsection from the original design, and a six-story upper section. The building's exterior walls are 4 feet (1.2 m) thick in the cellar and 3.5 feet (1.1 m) thick at the first floor, narrowing to 20 inches (510 mm) at
4880-461: The tallest building in the United States , the tallest building in the Western Hemisphere , and the seventh-tallest building in the world . At 1,550 feet (472 m), Central Park Tower is the second-tallest completed building in the city. It has the highest roof of any building outside Asia, and is the tallest residential building in the world. The third-tallest completed building in
5002-475: The "immense pile of masonry far overtopping adjoining structures" had thousands of bystanders. At the time, the top three floors had already been rented. Construction was completed in March 1880, at an ultimate cost of $ 200,000. The original structure was 140 feet (43 m) when completed, and contained 175 offices. Upon the Morse Building's completion, office buildings were being erected in Lower Manhattan, as part of
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5124-411: 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
5246-478: 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
5368-545: 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
5490-461: The 977-foot (298 m) 4 World Trade Center , the 743-foot (226 m) 7 World Trade Center , the approved 900-foot (274 m) 5 World Trade Center , and one partly constructed on-hold building: the 1,350-foot (411 m) 2 World Trade Center . The majority of skyscrapers in New York City are concentrated in Midtown and Downtown Manhattan , although other neighborhoods of Manhattan and
5612-657: 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
5734-418: 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
5856-585: 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
5978-571: The Empire State Building to become the city's tallest. Upon its topping out in May 2013, the 1,776-foot (541 m) One World Trade Center surpassed the Willis Tower to become the tallest building in the United States and the Western Hemisphere. One World Trade Center is part of the redevelopment of the World Trade Center , which also includes the 1,079-foot (329 m) 3 World Trade Center ,
6100-629: 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
6222-578: 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
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#17330845191386344-505: The Financial District is often considered to be the corner of Wall Street and Broad Street , both of which are contained entirely within 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
6466-505: 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
6588-448: The Morse Building city landmark status in the 1990s, and the New York City Landmarks Preservation Commission designated the building as such on September 19, 2006. Additionally, on September 7, 2005, the Morse Building was designated as a contributing property to the Fulton–Nassau Historic District , a National Register of Historic Places district. While Lower Manhattan's late-19th century skyscrapers generally received mixed reception,
6710-567: The Morse Building in 1979 to a joint venture composed of Martin Raynes and the East River Savings Bank. The building was converted the next year to a housing cooperative with 39 apartments. Minor modifications were made to the facade in 1995, with some pressed-metal elements being replaced with fiberglass. The pressed-metal cornice over the eighth floor was replaced around 2004 with a fiberglass cornice. Residents commenced an effort to give
6832-599: The Morse Building to the Hall Building and remodel the interior, which included lowering the entrance to street level. The Morse Building instead became known as the Nassau–Beekman Building, a move possibly inspired by the naming of 277 Broadway at Chambers Street as the Broadway–Chambers Building . The Nassau–Beekman Building was already seen as "small and old-fashioned", especially when compared with
6954-471: The Morse Building's ground level unsuccessfully tried to file an injunction to stop construction after Hall built a temporary bridge in front of the cafe to protect pedestrians; this decision was affirmed by the New York Supreme Court, Appellate Division . Another tenant refused to pay rent, claiming that he was being harassed due to construction, and Hall unsuccessfully tried to evict him. The project
7076-457: The Morse Building's tax lot was combined with an adjacent lot to the east. The New York World and Tribune buildings immediately to the north had been demolished in the 1950s and 1960s, and Pace College (later Pace University ) built 1 Pace Plaza on the site of the latter. Pace also acquired the Morse Building and other nearby buildings in 1972, with plans to destroy them and build an office tower. These plans did not proceed and Pace University sold
7198-477: The United Cities Realty Building. Ownership was later passed to Metropolitan Life in 1942; Nassau Offices Inc. in 1945; Peter I. Kenmore in 1951; and Clarendon Building Inc. in 1952. Around 1965, the base was remodeled in the neo-Classical style and the 10th-story cornice was removed, based on plans by John J. Tudda and Richard R. Scherer. Chatham Associates bought the property in 1968, a year after
7320-636: 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
7442-420: 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
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#17330845191387564-402: 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
7686-531: 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
7808-508: The adjacent 23-story building at 150 Nassau Street, despite having been completed only twenty years prior. Bannister and Schell filed plans for the expansion in December 1900, at which point work was estimated to cost $ 150,000. Work started the following April. The expansion converted the former basement into a full story, increasing by one the floor number of all other stories. The lowest two stories were refaced in rusticated stone. The attic and
7930-637: 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
8052-406: 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
8174-520: 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
8296-420: 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
8418-649: The area were laid out as part of the Castello Plan prior to 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
8540-460: 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 ,
8662-486: The auction, Washington Life Insurance bought the building for $ 601,000. In November 1900, Washington Life Insurance signed a contract with Charles Ward Hall to exchange the Morse Building with Hall's Hamilton Building at 125th Street and Park Avenue in East Harlem . At the time of the transaction, the buildings were worth $ 1.5 million in total. The property title was transferred the next month. Hall planned to rename
8784-480: 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 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
8906-406: The building had 175 offices and modern amenities such as steam heat and gas lighting. Bannister & Schell altered the building significantly in 1901–1902 to an Edwardian Neo-Classical style, bringing the building to 14 stories and 180 feet (55 m). Around 1965, the base was modified again and the balcony and cornice were removed. After a failed redevelopment attempt in the 1970s, it became
9028-477: The building into three unequal sections from north to south. These partitions, along with the exterior walls, carry all of the iron beams. The partitions were also fireproof, since Smith & Prodgers covered them with laths of iron and layers of plaster. Post & McCord installed the iron beams in the frame with a steam derrick , marking the contractor's first use of that tool. The original building did not need to use any interior columns because its entire weight
9150-634: The building to be five stories. When the building was expanded in the 1900s, Schuyler called it among the "last" and "best" of New York City's Gothic Revival buildings, but said that the new owner was spending "good money in spoiling what it would have cost him no money at all to leave alone". Modern architectural critics also discussed the effect of the building's articulation on its overall appearance. In 2006, Christopher Gray of The New York Times said "the completed Morse Building looked like two or three warehouses stacked on top of one another." Architectural writers Sarah Landau and Carl Condit said that
9272-580: The building was mostly praised during its construction. American Architect and Building said in January 1879 that "the construction seems to have been carefully studied and well carried out". The same magazine said in July 1879 that "Many who watched the uprising walls wondered whether they would ever cease growing sky-wards", and applauded the building for exhibiting "contrast, diversity, and change". Another publication, The Manufacturer & Builder , said in June 1879 that
9394-409: The building. The 1901–1902 expansion employed Charles Ward Hall, the building's then-owner, as chief engineer, and Hall & Grant Construction as general contractor. The building was originally 140 feet (43 m) tall, making it one of New York City's tallest buildings upon its completion. According to a 1879 count, the former New York Tribune Building and Western Union Telegraph Building were
9516-538: The city is 111 West 57th Street . Rising to 1,428 feet (435 m), it is the world's most slender skyscraper. The fourth-tallest is One Vanderbilt . At 1,401 feet (427 m), it is the tallest office building in Midtown. The fifth-tallest is 432 Park Avenue at 1,397 feet (426 m). At 1,250 feet (381 m), the 102-story Empire State Building in Midtown Manhattan , which was finished in 1931, stood as
9638-421: 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
9760-538: 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
9882-555: The current third and sixth stories (and in the original eighth story), each bay has two semicircular arched windows, while on the fourth, fifth, seventh, and eighth stories, each bay has two flat-arched windows within a segmental arch. The segmental arches were evocative of those of the Tribune Building, and the red and black brick added emphasis to the facade. A fiberglass cornice runs above the eighth story. The ninth through thirteenth stories are set within brick. The pilasters from
10004-568: The decorative elements and windows were damaged, and one of the Morse cousins characterized the responding firefighters' actions as vandalism, blaming them for allowing part of the World building to fall onto the Morse Building. Nonetheless, in an 1883 article, the Morses said that they were receiving a 10% return on the building. The Morse Building was reportedly constantly occupied by merchants and lawyers during
10126-430: The design was "decidedly agreeable in its general appearance as well as in its details". The Manufacturer and Builder mentioned the flat roof as a minor criticism, but that it was better than having a roof proportional to the building's height, which would be "extravagantly high" like the Tribune Building's "abominable roof". Upon the Morse Building's completion, several publications lauded the relatively simple design of
10248-429: The eighth floor. The facade was initially divided into four horizontal sections: a two-story base; two midsections of three stories; and an upper section of one full story, one attic story, and a cornice with a parapet. The current first floor was originally a raised basement. Prominent vertical pilasters subdivide the facade into three segments on Nassau Street and two on Beekman Street; these were designed to emphasize
10370-432: The facade as well as the usage of brick and terracotta. Carpentry and Building magazine said, "Although there have been many tall buildings erected in New York of late years, this one outstrips them all". The Building News said that the Morse Building was "a very quiet and pleasing structure", rather than being gaudy. The Century Magazine stated in 1884 that the building's design was "not without evidence of effort in
10492-503: The facade was refaced with 4-inch (100 mm) blocks of stone, while the rest of the original exterior was unchanged to a height of 122 feet (37 m). The first floor contains four storefront openings each facing Nassau and Beekman Streets, as well as an entrance to the residential units in the center bay on Nassau Street. The second floor has five rectangular windows on Nassau Street and four facing Beekman Street. The third- through eighth-story windows are set in brick and terracotta. On
10614-667: 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
10736-529: The first of which spanned the 1890s through the 1910s, and the second from the mid-1920s to the early 1930s. During this period 44 skyscrapers over 492 feet (150 m) were built —including the Singer Building , Met Life Tower , Woolworth Building , 40 Wall Street , the Chrysler Building, and the Empire State Building, each of which was the tallest in the world at the time of its completion,
10858-470: 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
10980-402: The hardware was made of bronze; the floors were made of wood. The original basement was 2 feet (0.61 m) below street level with a 12-foot (3.7 m) ceiling, and a flight of stairs connected to the original first story, which had a 18-foot (5.5 m) ceiling. During the 1901–1902 reconstruction, the lowest two floors were raised several feet, and a new staircase and three elevators made by
11102-404: The horizontal lines as much as possible, in order to temper the perceived excessive height of the building. There are five bays facing Nassau Street, divided by the pilasters into a 2-1-2 pattern, and four bays facing Beekman Street, divided by the pilasters into two groups of two. The eastern facade is bare and contains arched windows. During the reconstruction, the lowest 40 feet (12 m) of
11224-598: The land by 1845. The Observer moved across Nassau Street to the Old Brick Church site (now 41 Park Row ) in 1859. The building was shared by other newspapers, which moved out during the mid-19th century. Savery's Temperance House was formed in one section of the building; it later became the Park Hotel, which was losing patronage by the 1870s because of bad management. In 1878, the Morse brothers transferred land ownership to their respective sons, Gilbert Livingston Morse and Sidney Edwards Morse Jr., who subsequently planned
11346-670: The last remaining so for forty years. Skyscraper construction resumed in the early 1960s, with construction surges in the early 1970s, late 1980s, and late 2010s. In total, the city has seen the rise of over 100 completed and topped-out structures at least 650 feet (198 m) high, including the twin towers of the World Trade Center , and the current World Trade Center redevelopment. This list ranks completed and topped out New York City skyscrapers that stand at least 650 feet (198 m) tall based on standard height measurements. This includes spires and architectural details but does not include antenna masts. An equal sign (=) following
11468-734: The late 19th century, the surrounding area had grown into the city's "Newspaper Row". Several newspaper headquarters had been built on the adjacent Park Row , including the New York Times Building, the Potter Building, the Park Row Building , the New York Tribune Building, and the New York World Building . Meanwhile, printing was centered around Beekman Street. The previous building on the Morse Building's site
11590-733: The late 19th century. The building contained the office and rooftop studio of the Vitagraph Company of America , which became the first motion-picture company in America; the company filmed Burglar on the Roof , their "first posed picture", at the building in 1897 or 1898. Other establishments such as the New York Canoe Club and the Multiple Speed and Traction Company were also housed in the Morse Building. Gilbert Livingston Morse died in 1891, and
11712-500: The lower stories continue upward, and each bay contains a single three-part window on each floor. A fiberglass cornice runs above the thirteenth story. There is a space between the tenth and eleventh story, between which was a balcony and cornice. The fourteenth story serves as an attic with another cornice above it. On the roof is an elevator room. At the bottom, the walls were offset to 6 feet (1.8 m), where they rested on 8-foot (2.4 m) continuous concrete footings, each of which
11834-585: 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
11956-408: The new footings installed during that project were only 6 feet (1.8 m) thick and were flush with the original wall. During the 1901–1902 expansion of the building, these footings were found to be insufficient to support the weight of the extra stories. A force of 12,000 pounds per square foot (578,200 Newtons per square meter) would have been exerted on these footings, causing unequal settlement. As
12078-414: 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
12200-496: 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
12322-488: The piers and articulation of the facade "imparted a quality of wholeness not typical of early skyscrapers." Architectural historian Robert A. M. Stern contrasted the Morse Building with the Boreel Building on Broadway, saying that the Morse Building's frontage on two narrow streets "robb[ed] it of a perspective". Financial District, Manhattan The Financial District of Lower Manhattan , also known as FiDi ,
12444-428: 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
12566-431: The projecting eighth-floor belt course. Originally, the building had an iron stairway with marble and slate treads at its center. There were also two hydraulic elevators made by Otis and a dumbwaiter for items. There were water tanks with 4,500 U.S. gallons (17,000 L) of capacity. Fireplaces in each room connected to a steam-heating system, with a boiler and smokestack. The windows were glazed with plate glass while
12688-477: The right direction", especially when compared with nearby office structures, which were described as either "hideous" or "commonplace". Moses King , in his 1893 Handbook of New York , praised the use of brick and terracotta in the Morse Building, "a solid handsome structure". Architectural critic Montgomery Schuyler likewise said that the design was "impressive and dignified in the mass, and in many places exceedingly agreeable in detail", even though he had preferred
12810-476: The structure rose to a pinnacle of 349 feet (106 m). Though not the city's first high-rise , it was the first building to surpass the 284-foot (87 m) spire of Trinity Church . The World Building, which stood as the tallest in the city until 1899, was demolished in 1955 to allow for the construction of an expanded entrance to the Brooklyn Bridge . The Park Row Building , at 391 feet (119 m),
12932-458: The tallest at 170 feet (52 m), excluding their ornamental clock towers. The completed building was said to be the tallest straight-walled building in the city, or even in the world. Taller structures, including the Tribune and Western Union buildings, had setbacks partway up their facades. The Morse Building was cited as the first structure to use raised vertical terracotta joints, which in turn were credited with preventing rain from washing out
13054-501: The tallest building in the world from its completion until 1970, when construction on the 1,368-foot (417 m) North Tower of the original World Trade Center surpassed it. It is the tenth-tallest building in the United States, and rises to a pinnacle of 1,454 feet (443 m) including its antenna . The North Tower (the original One World Trade Center), along with its twin the South Tower (the first Two World Trade Center), which
13176-439: 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
13298-471: The term is sometimes used as a synonym for Wall Street , the latter term is often applied metonymously to 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
13420-405: The walls of the former eighth story were dismantled, and a temporary wooden roof and walls were built around the eighth story (which was slated to become the new ninth story). A new tenth story was built, and four additional brick-clad stories were erected to make the Nassau–Beekman Building a fourteen-story building. A cornice with large scroll brackets was built above the tenth story, supporting
13542-602: 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 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
13664-440: Was 2 feet (0.61 m) thick. The walls exert a pressure of 8,000 pounds per square foot (39,000 kg/m) on the foundation, which descends to a layer of sand 25 feet (7.6 m) below curb level. The Morse Building's northern wall abuts 150 Nassau Street and was underpinned with brick and concrete during the construction of that building. The foundations of 150 Nassau Street descended to 35 feet (11 m) below ground level;
13786-411: Was completed by March 1902. Several incidents involving the building's elevators occurred after the building's expansion. An elevator dropped two stories in 1904, leaving its occupants unharmed, and two people died in the elevator shafts in separate accidents in 1905 and 1907. Another incident in 1910 involved an elevator cab dropping 30 feet (9.1 m) and injuring six people. In addition, the building
13908-423: Was constructing 150 Nassau Street, was held liable for damages. Sidney Jr. sold his own share to Niles in 1895, though Sidney Jr. kept an office there until he died in 1908. The Washington Life Insurance Company started foreclosure proceedings against Niles in 1898 for failure to pay the mortgage. Early next year, the Morse Building was placed for sale at a foreclosure auction, and after a three-week adjournment of
14030-482: Was damaged in 1916 by a fire at a nearby low-rise building on Beekman Street. Metropolitan Life Insurance foreclosed on the Nassau–Beekman Building in 1918 after Hall failed to pay the mortgage of $ 600,000. The next year, the building was sold to William E. Harmon; at the time, the building was valued at $ 1 million. Harmon's company, the United Cities Realty Corporation, renamed the building to
14152-530: Was influenced by the then-recent "Great Fires" of Boston and Chicago . Brick and terracotta were used as a fireproof material. The terracotta was sourced from a Chicago firm while the brick was made by the Peerless Brick Company of Philadelphia. The project also involved Smith & Prodgers as plasterers, Morton & Chesley as carpenters, and Steward & Vanhorn as the decorators and painters. Numerous other contractors provided various materials for
14274-515: Was inspired by the Victorian Gothic , Neo-Grec , and Rundbogenstil styles. The Morse Building's corner location allowed it to have two full facades : the southern elevation on Beekman Street and the western elevation on Nassau Street. The design of the Morse Building contrasts with that of the Temple Court Building (now 5 Beekman Street) and Potter Building, from the same architects. Silliman and Farnsworth's choice of building materials
14396-626: 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 ,
14518-457: Was occupied by the religious newspaper The New-York Observer between 1840 and 1859. Richard Cary Morse and Sidney Edwards Morse were the Observer 's founders; they were the brothers of Samuel Morse , who had invented Morse code and the electrical telegraph , and had used one of the Observer building's rooms to experiment with his invention. Richard and Sidney had an ownership stake in
14640-541: Was six feet shorter, held this title only briefly as they were both surpassed by construction of the 110-story Willis Tower in Chicago in 1973. The Twin Towers remained the tallest buildings in New York City until they were destroyed in 2001 during the September 11 attacks , leaving the Empire State Building again as the city's tallest building. The new One World Trade Center began construction in 2006; in April 2012 it surpassed
14762-496: Was supported on the exterior piers. When the upper six stories were constructed, the exterior walls were moved slightly and steel beams were installed to provide support for the frame. A "cap" of 36-inch (910 mm) beams was installed above the eighth floor, from which these steel beams descended to the lower stories. On the upper stories, eighteen steel beams were installed on the outer walls and five interior columns were placed atop grillage beams. The wall girders were concealed by
14884-442: Was the city's tallest building from 1899 to 1908, and the world's tallest office building during the same time span. By 1900, fifteen skyscrapers in New York City exceeded 250 feet (76 m) in height. New York has played a prominent role in the development of the skyscraper. Since 1890, ten of those built in the city have held the title of world's tallest. New York City went through two very early high-rise construction booms,
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