New York Life Insurance Company Building STATUS Designated Exterior and Interior Landmark 346 Broadway ARCHITECT: Stephen Decatur Hatch; McKim, Mead & White DATE: 1894-99 STYLE: Neo-Italian, Neo-Renaissance This building is a fine example of the neo-Italian palazzo mode popularized by Mckim, Mead & White. The interiors of the building are designed using excellent craftsmanship and lavish materials, typical of the finest buildings of the turn of the century. These interiors are designed in the neo-Renaissance style, and they bear the personal stamp of their architects.

The area now known as Tribeca was originally developed in the early 19th century as a residential neighborhood close to the city’s center in Lower Manhattan. Its street grid was laid out at right angles off of Greenwich Street and on a diagonal off of Broadway, creating blocks of different lengths and irregular open spaces. The residential character of these blocks allowed for the retention of small lot sizes in future waves of development, thus creating a neighborhood with richly textured streetscapes of varying styles of architecture. After the Civil War, shipping hubs moved from the East River to the North River (later renamed the Hudson River), and South Street Seaport was traded in for steam-powered shipping on the west side via long piers. With a newly thriving industrial waterfront, the neighborhood was poised for change. Around 1812, Washington Market was established on the streets from Fulton to Vesey and Washington to West (near the current site of the World Trade Center). The market grew considerably between 1812 and the middle of the century, becoming the city’s major source for consumables. Hundreds of vendors sold all manner of imported and locally made goods and produce to store owners, restaurateurs and home cooks alike. The growth of the market was, no doubt, fueled by the shipping industry on the river nearby, facilitating the transfer of goods. The market moved to Hunts Point in The Bronx in 1967 and the World Trade Center was developed shortly thereafter. Washington Market Park, located at Greenwich Street between Duane and Chambers Streets and designed by Lee Weintraub in 1978, was named after the historic market. With the combination of a bustling industrial waterfront and thriving commerce, the Federal and Greek Revival residential buildings north of the market were transformed into food storage warehouses and over the course of the rest of the 19th and into the 20th century, the majority of these would be replaced entirely with store and loft buildings and warehouses. This architectural development, which spanned roughly 50 years from 1860 to 1910, encompasses a balance of utilitarian and decorative forms in a range of popular styles of the period, all while defining the identities of the enterprises housed within and the expression of American commercialism as a whole. These buildings still dominate the character of the neighborhood today. Originally referred to as the “Lower West Side,” there are differing accounts as to where the name “Tribeca” came from. It originated in the 1970s, after a Special Lower Manhattan Mixed Use District was adopted for the area south of Canal Street, between Broadway and West Street. A realtor, advertising real estate within the new district, referred to it as Tribeca, which stood for the Triangle Below Canal. Most likely, the realtor hoped to inspire a similar transformation to that of Soho, whose industrial buildings had been converted into artists’ lofts and trendy apartment buildings. Four historic districts were designated in 1991–92: Tribeca East, Tribeca West, Tribeca North and Tribeca South, which was extended in 2002. These are located in Tribeca’s center, while pockets around the historic districts and most of the neighborhood’s periphery remain unprotected. Community members are currently advocating for more individual landmarks and expansion of the historic district borders.

Looking east on Leonard Street toward McKim, Mead & White's Clock Tower Building, the former headquarters of New York Life Insurance Company, 346 Broadway; ca. 1977. In 1868, the New York Life Insurance company purchased a fire-damaged property at Broadway and Leonard Street from the Appleton's publishing house, and enlisted architect Griffith Thomas to design its new headquarters. By the 1890s, New York Life had expanded domestically and internationally was in need of a larger building for its main office. The firm solicited proposals for an eastward extension of Griffith's 1870 building, selecting Stephen D. Hatch's design for an extended structure to occupy the square block bounded by Broadway, Catherine Place, Elm (Lafayette) and Leonard Streets. Hatch — whose winning bid notably included a lower commission that his more-celebrated competitors — died just three months into construction in 1894. McKim, Mead & White took over the commission, and completed Hatch's design, with some alterations, in 1896. However, where Hatch's design was grounded in the materials and scale of the original Thomas building, New York Life and MM\&W came to favor a grander statement. The original, Thomas-designed building was razed later that year. The new design, supervised by partner William Rutherford Mead and architect Henry Bacon, associate called for a commanding, three-story pavilion and clocktower atop a new, twelve-story neo-Italian Renaissance building flush with the completed structure along Leonard Street. The updated building, complete with its signature clocktower, was completed in 1898. The clock itself was designed by the E. Howard Clock Company and installed, along with its 5,000-pound bell, in 1897. New York Life's tenure was relatively brief: the company moved to a new, Cass Gilbert-designed headquarters on Madison Square Park in 1928, with 346 Broadway and its clocktower passing into City ownership. In 1972, the curator Alanna Weiss, who would go on to found and direct the P.S. 1 Contemporary Art Center (now MoMA PS1), established the Clocktower Gallery in the building's top story of the former New York Life Insurance Company building. The gallery, a multidisciplinary space for exhibitions and performances by contemporary artists, operated until 2013 when the building was sold by the city. The fate of the clocktower and its clock became the subject of litigation and intense debate Following the sale to developers Peebles Corporation and the El Ad Group, who planned to convert the tower into a multi-story penthouse apartment. The condo conversion plan would have required the electrification of the clock — which was restored in 1980 and continues to be wound manually every week — a move initially approved by the Landmarks Preservation Commission, but later overruled by a State Supreme Court Judge. The Clock Tower's fate remains in limbo (the prospective developers are mired in court battles over project funding), but for now the massive, mechanical timepiece continues to tick away, still guaranteed to be accurate within 10 seconds per month.