New York, NY - Urban Archive

South of Union Square

Story

1 Wall Street

1 Wall Street, at the southern corner of Broadway, has long been a prized address. In 1905, the 30' by 40' lot that had been occupied since the early 19th century by a four-story commercial building changed hands for the highest price per square foot ever recorded for Manhattan property: $615

This story is adapted from an exhibition at the Skycraper Museum. The original version can be seen here.

By

The Skyscraper Museum

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1 Wall Street

1 Wall Street

The new owners, businessmen from St. Louis, erected a very plain 18-story tower on the site, multiplying the space (and rents) nearly five times. The so-called "Chimney Building" squeezed two offices per floor onto the 1,200 sq. ft. parcel (an area about one quarter the size of this museum). Little did they know what would follow it.

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1 Wall Street

1 Wall Street

In 1928, the powerful interests of the Irving Trust Company purchased 1 Wall Street and the neighboring buildings to the corner of New Street. The new site was still narrow, only 77' on Wall Street, but stretched along Broadway for 178'. Consuming the full block frontage meant that the new building could rise with windows on all sides. The new 50-story skyscraper began construction in 1929.

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1 Wall Street

1 Wall Street

The tower design by Ralph Walker of the architectural firm of Voorhees, Gmelin & Walker is an Art Deco masterwork. The expensive limestone facade was sculpted in an unusual curtain-like surface that softened the play of light and shadow.

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1 Wall Street

1 Wall Street

On the ground floor, a grand banking hall, the famous "Red Room," was faced in red and gold mosaics with a theatrical effect. The bank leased the 11th through 45th floors, but kept the top stories for executive offices and a lavish boardroom

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