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The Mills Building was a 10-story structure that stood at 15 Broad Street and Exchange Place in
The Mills Building was a 10-story structure that stood at 15 Broad Street and Exchange Place in Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...
, with an ''L''-shaped extension to 35 Wall Street. It wrapped around the J. P. Morgan & Company Building at 23 Wall Street
23 Wall Street (also known as the J.P. Morgan Building) is an office building in the Financial District of Manhattan in New York City, at the southeast corner of Wall Street and Broad Street. Trowbridge & Livingston designed the four-s ...
, on the corner of Broad and Wall Streets. George B. Post was the architect of the edifice.
D.O. Mills, a San Francisco, California
San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...
banker, owned the property. Mills built a palatial home in New York City
New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...
, while maintaining a villa in Millbrae, California
Millbrae is a city located in northern San Mateo County, California, United States. To its northeast is San Francisco International Airport, San Bruno is on its northwest, and Burlingame on its southeast. It is bordered by San Andreas Lake t ...
.
Construction
The Mills Building was completed in 1882. Wooden piles were driven down to support the edifice until it was found that it was too heavy for its foundation work. It rested on sandy soil, and the structure began to settle. Additional supports were driven down after a means of doing this was discovered. This was performed without the building having to be torn down. Finally a secure foundation was accomplished, although it was different from one composed of bedrock. In the future, this would be achieved by employing caisson foundations. In 1908, there were plans to replace the Mills Building with a skyscraper, which would be the world's tallest building.J.P. Morgan & Company lease
Beginning in 1920, the Mills Building was leased for 84 years for $27.3 million to J.P. Morgan & Company. The rent on the structure was fixed at $300,000 for the first 42 years, to increase $350,000 in 1962. The lease specified that a building of at least 25 stories had to be erected on the site of the Mills Building by May 1, 1928. The banking business had plans drawn byTrowbridge & Livingston
Trowbridge & Livingston was an architectural practice based in New York City in the early 20th-century. The firm's partners were Samuel Beck Parkman Trowbridge and Goodhue Livingston.
Often commissioned by well-heeled clients, much of the fir ...
for a 33-story edifice that would have cost $8 million to build.
In January 1925, the Mills Building lease was acquired by Equitable Trust. The firm built the 43-story 15 Broad Street
15 Broad Street (formerly known as the Equitable Trust Building) is a former office building in the Financial District of Manhattan, New York City, on the eastern side of Broad Street between Wall Street and Exchange Place. It has entrances a ...
on the site between 1926 and 1928.
References
{{Financial District, Manhattan Demolished buildings and structures in Manhattan Skyscraper office buildings in Manhattan 1882 establishments in New York (state) Commercial buildings completed in 1882 Mutual Alliance Trust Company Financial District, Manhattan Broad Street (Manhattan) Wall Street Buildings and structures demolished in 1925