Five World Trade Center

5 World Trade Center (5 WTC; also referred to as 130 Liberty Street) is a planned skyscraper at the World Trade Center in Lower Manhattan, New York City. The site is across Liberty Street, to the south of the main World Trade Center site. In February 2021 it was announced the new 5 World Trade Center will be developed in a joint venture between Silverstein Properties and Brookfield Properties. The proposed building shares its name with the original 5 World Trade Center, which was heavily damaged as a result of the collapse of the North Tower during the September 11 attacks and was later demolished.

In June 2007, JPMorgan Chase announced plans to develop the building as the headquarters of its investment division, J.P. Morgan & Co. However, after JPMorgan Chase's acquisition of Bear Stearns in March 2008, as the company relocated J.P. Morgan to 383 Madison Avenue. In June 2019, the Port Authority and Lower Manhattan Development Corporation agreed to a joint Request for proposal (RFP) for the site.

As of February 2021, a new design has been announced for the new 5 World Trade Center to be developed by Silverstein Properties and Brookfield Properties. The new design calls for a mixed-use tower.

Original building (1970–2001)

5 World Trade Center (5 WTC) was originally a steel-framed nine-story low-rise office building built in 1970–72 at New York City's World Trade Center. The building was designed by Minoru Yamasaki and Emery Roth & Sons. The structure was tall and had a black exterior. It suffered severe damage and partial collapse on its upper floors as a result of the September 11 attacks in 2001. The remaining structure was demolished by the Port Authority in December 2001, making way for reconstruction. The building was L-shaped and occupied the northeast corner of the World Trade Center site. Overall dimensions were , with an average area of per floor. It hosted a police desk.

The Chambers Street and World Trade Center () subway stations were located directly east of the building, and access to the station was available through the lobby. The building's remaining underground concourse space housed The Mall at the World Trade Center. The largest Borders bookstore in New York City spread across three floors of 5 World Trade Center, on the corner of the building adjacent to the intersection of Church and Vesey Street.

In 1984, artist Joanna Gilman Hyde painted the canvas titled "Self Organizing Galaxy" on the roof of 5 World Trade Center, a temporary art exhibit. It took eight days to paint and was signed on October 10, 1984.

September 11 attacks

5 WTC was the least damaged building of the entire complex. Floors 4–9 suffered partial collapse and/or fire damage as a result of the September 11 attacks, while Floors 1–3 were not damaged. The building's structural integrity on its upper floors were partially compromised due to the impact of steel and other debris from the North Tower. Other collapsed sections were due to fire damage. Portions of internal collapse and burnout were found on upper floors, mainly floors 6–8. The black exterior facade suffered severe fire damage. Floors 5–9 were on fire after the collapse of the South Tower. A section of the fuselage from United Airlines Flight 175 landed on the roof and a plane engine was found in the ninth floor cafeteria. The Borders bookstore was undamaged after both towers collapsed.

The building was demolished by weakening its internal structure and using cables to pull down the rest of the structure, the same way 4 and 6 World Trade Center were demolished. The last standing section of 5 WTC was removed by December 2001.

The Federal Emergency Management Agency (FEMA)/ASCE Building Performance Study Team found that some connections between the structural steel beams failed in the fire. This was most apparent in the collapse of 5 World Trade Center, where the fireproofing did not protect the connections, causing the structure to fail. The structural failure didn't cause the entire building to collapse, as seen after the attacks that the structural skeleton remained intact.

The building was the location of the Survivors' Staircase, which was moved 200 feet along Vesey Street in 2008 to prevent further damage. In 2010, the staircase was placed inside the National September 11 Memorial & Museum, where it resides today.

2 World Trade Center will stand at the exact location where the original 5 World Trade Center once stood.

Tenants

New building

5 World Trade Center (5 WTC) was expected to be designed for residential or mixed use in the original master plan for the complex by Daniel Libeskind. The building was to have a height limit of no more than and up to of floor space. Negotiations over the World Trade Center site concluded in April 2006, with private developer Larry Silverstein yielding his right to develop on the site designated for One World Trade Center along with 5 World Trade Center to the Port Authority of New York and New Jersey in exchange for assistance in financing Towers 2, 3, and 4.

The Deutsche Bank Building began undergoing deconstruction in March 2007, which was finally completed by 2011. During this time, work along Liberty Street involved preparing the northern quadrant of the site for development. After site preparation work was done, construction began on the Vehicular Security Center and Liberty Park, which are both complete as of 2016.

Construction history

On June 22, 2007, the Port Authority announced that JPMorgan Chase will spend $290 million to lease the site until 2011 for construction of a 42-story building. Following JPMorgan Chase's acquisition of Bear Stearns in March 2008, the company announced plans to use Bear Stearns' existing headquarters at 383 Madison Avenue as its new headquarters for J.P. Morgan Investment Bank. The company abandoned plans to occupy a skyscraper at 130 Liberty Street. A proposal to convert the planned office tower into a residential or mixed-use tower was explored instead. On May 1, 2008, deconstruction of the former Deutsche Bank building resumed.

By May 2009, the Port Authority was seeking to reduce the size of 2 and 3 WTC and postpone the construction of 5 WTC, citing the Great Recession and disagreements with Silverstein. The developer had requested that the Port Authority fund two of the towers, but the agency wanted to provide funding for only one tower. New York City mayor Michael Bloomberg attempted to mediate the dispute with little success. It was proposed in July 2009 to move the planned construction site for the Performing Arts Center to the 130 Liberty Street location, but these plans were later rejected. Also in July 2009, Silverstein wrote a letter to the development's stakeholders, recommending that the dispute go to arbitration. Silverstein officially requested arbitration the next month. He requested that the Port Authority pay $2.7 billion in damages. An arbitration panel ruled in January 2010 that the agency did not owe him any damages. However, the panel also voided a clause that would have forced Silverstein to hand over the towers to Port Authority if they were not completed by 2014.

The Port Authority announced in March 2010 that it had assumed responsibility for the development of 5 World Trade Center, in addition to One World Trade Center, the National September 11 Memorial & Museum, the transportation hub, and other site infrastructure. Towers 2, 3, and 4 would continue to be developed by Silverstein Properties. Later that year, New York University had expressed interest in expanding to 5 World Trade Center as part of its NYU 2031 program. These plans were also eventually rejected.

The deconstruction of the Deutsche Bank Building was completed in February 2011, and construction of another World Trade Center project, the Vehicular Security Center and Tour Bus Parking Facilities began. Development of the site was officially given to the Port Authority of New York and New Jersey. On September 1, 2011, the Port Authority of New York and New Jersey began construction to incorporate the site into the new WTC development, acting as its developer.

Governor Andrew Cuomo signed an agreement in October 2011 to rebuild the St. Nicholas Greek Orthodox Church in Liberty Park. The church would be located adjacent to the future Liberty Park, which would be built on top of the Vehicular Security Center. That December, Phase 2 construction of the South bathtub, located on the site of 130 Liberty Street, continued with the excavation and concrete placement. By mid-2013, the ground was prepared for construction. A walkway that is next to the site of 5 WTC would be constructed into a supermarket. By 2014, the ground had been transformed into parking spaces for vehicles belonging to the Port Authority Police Department (PAPD). According to the agency, this usage of the site is only temporary.

In June 2019 a joint RFP was issued following a deal between Port Authority of New York and New Jersey and the Lower Manhattan Development Corporation with the agencies to split the proceeds. In November 2019 a possible partnership between Silverstein Properties and Brookfield Properties was reported to develop the site. In February 2021 that partnership was confirmed and a new design unveiled with construction slated to begin in 2023.

Design

The original design for the tower was by Kohn Pedersen Fox, and called for a 42-story building with a seven-floor cantilevered section starting at the 12th floor. This section of the building would have housed JPMorgan Chase's large trading floors, rising above the St. Nicholas Greek Orthodox Church, and would be taller than 7 World Trade Center. As of September 2013, the Lower Manhattan Development Corporation and Port Authority were actively marketing the site, but had not released any information about the building.

In June 2018, ''New York YIMBY'' reported on a new design for the tower, after rendering was spotted on a fence surrounding the construction site, hinting an announcement from the Port Authority may be coming soon. According to the article, it is "a glassy building with a triangular motif reminiscent of the David Childs-designed 1 WTC. The depiction is roughly 70 stories in height, which could indicate yet another supertall is planned for the area."

In February 2021, a new design was announced for the new 5 World Trade Center to be developed by Silverstein Properties and Brookfield Properties. The new design calls for a tall mixed use tower rising 80 stories. The tower will consist mainly of of residential space spread over 69 floors, numbering 1,325 units, with 25 percent or roughly 330 units of the apartments being set aside for permanent affordable housing. The base of the tower will include the lobbies, of retail, of public amenity space spread across 2 floors, a floor with of public space and of office space spread across 6 floors. Construction is scheduled to begin in 2023 and finish by 2028.

See also

* List of tallest buildings in New York City

References

{{DEFAULTSORT:5 World Trade Center
World Trade Center
Buildings and structures completed in 1972
Buildings and structures demolished in 2002
Office buildings in Manhattan
Buildings and structures destroyed in the September 11 attacks
JPMorgan Chase buildings
Skyscrapers in Manhattan
Demolished buildings and structures in Manhattan
Proposed skyscrapers in the United States
Proposed buildings and structures in New York City