Merchant's Exchange Building (New York)
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55 Wall Street, formerly the National City Bank Building, is an eight-story building on
Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...
between
William William is a masculine given name of Germanic languages, Germanic origin. It became popular in England after the Norman Conquest, Norman conquest in 1066,All Things William"Meaning & Origin of the Name"/ref> and remained so throughout the Middle ...
and Hanover streets in the
Financial District A financial district is usually a central area in a city where financial services firms such as banks, insurance companies, and other related finance corporations have their headquarters offices. In major cities, financial districts often host ...
of
Lower Manhattan Lower Manhattan, also known as Downtown Manhattan or Downtown New York City, is the southernmost part of the Boroughs of New York City, New York City borough of Manhattan. The neighborhood is History of New York City, the historical birthplace o ...
in
New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...
, New York, United States. The lowest three stories were completed in either 1841 or 1842 as the four-story Merchants' Exchange and designed by
Isaiah Rogers Isaiah Rogers (August 17, 1800 – April 13, 1869) was an American architect from Massachusetts who eventually moved his practice south, where he was based in Louisville, Kentucky, and Cincinnati, Ohio. He completed numerous designs for hotels ...
in the
Greek Revival style Greek Revival architecture is a architectural style, style that began in the middle of the 18th century but which particularly flourished in the late 18th and early 19th centuries, predominantly in northern Europe, the United States, and Canada, ...
. Between 1907 and 1910,
McKim, Mead & White McKim, Mead & White was an American architectural firm based in New York City. The firm came to define architectural practice, urbanism, and the ideals of the American Renaissance in ''fin de siècle'' New York. The firm's founding partners, Cha ...
removed the original fourth story and added five floors to create the present building. Since 2006, the banking room has functioned as an event venue called the Cipriani Wall Street, while the upper stories have been a
condominium A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual own ...
development known as the Cipriani Club Residences. 55 Wall Street's granite facade includes two stacked
colonnade In classical architecture, a colonnade is a long sequence of columns joined by their entablature, often free-standing, or part of a building. Paired or multiple pairs of columns are normally employed in a colonnade which can be straight or curv ...
s facing Wall Street, each with twelve columns. Inside is a cruciform banking hall with a
vaulted ceiling In architecture, a vault (French ''voûte'', from Italian ''volta'') is a self-supporting arched form, usually of stone or brick, serving to cover a space with a ceiling or roof. As in building an arch, a temporary support is needed while ring ...
, Corinthian columns, marble floors and walls, and an
entablature An entablature (; nativization of Italian , from "in" and "table") is the superstructure of moldings and bands which lies horizontally above columns, resting on their capitals. Entablatures are major elements of classical architecture, and ...
around the interior. The banking hall was among the largest in the United States when it was completed. The offices of
Citibank Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Ci ...
's predecessor National City Bank were in the corners of the banking hall, while the fourth through eighth floors were used as office space. The facade and part of the interior are
New York City designated landmark The New York City Landmarks Preservation Commission (LPC) is the New York City agency charged with administering the city's Landmarks Preservation Law. The LPC is responsible for protecting New York City's architecturally, historically, and c ...
s, and the building is listed on both the
New York State Register of Historic Places The New York State Register of Historic Places (NYSRHP) is a listing of "properties significant in history, architecture, engineering, landscape design, archeology, and culture" in the U.S. state of New York. The register was created by the New ...
and the
National Register of Historic Places The National Register of Historic Places (NRHP) is the Federal government of the United States, United States federal government's official United States National Register of Historic Places listings, list of sites, buildings, structures, Hist ...
(NRHP) as a
National Historic Landmark A National Historic Landmark (NHL) is a National Register of Historic Places property types, building, district, object, site, or structure that is officially recognized by the Federal government of the United States, United States government f ...
. It is also a contributing property to the Wall Street Historic District, listed on the NRHP. The Merchants' Exchange building replaced a structure that had burned down in the Great New York City Fire of 1835. 55 Wall Street subsequently hosted the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
, then the United States Custom House until a new Custom House building was developed on
Bowling Green A bowling green is a finely laid, close-mown and rolled stretch of turf for playing the game of bowls. Before 1830, when Edwin Beard Budding of Thrupp, near Stroud, UK, invented the lawnmower, lawns were often kept cropped by grazing sheep ...
in the 1900s. After 55 Wall Street was expanded, it served as the headquarters of National City Bank from 1908 to 1961; Citibank continued to own the building until 1992. The upper stories operated as a hotel from 2000 to 2003.
Cipriani S.A. Cipriani S.A. is an Italian hotel and leisure company domiciled in Luxembourg that owns and operates luxury restaurants and clubs around the world including Harry's Bar in Venice and formerly the Rainbow Room in New York City. It specialises in ...
and
Steve Witkoff Steven Charles Witkoff (born March 15, 1957) is an American real estate investor and lawyer who has served as the Ambassadors of the United States#Special envoys, representatives, and coordinators, United States Special Envoy to the Middle East ...
began converting the upper stories to condominiums in 2004, while Cipriani operated the banking room as an event venue.


Site

55 Wall Street occupies a full block bounded by
Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...
to the north, Hanover Street to the east, Exchange Place to the south, and William Street to the west. Though the building occupies an entire
city block A city block, residential block, urban block, or simply block is a central element of urban planning and urban design. In a city with a grid system, the block is the smallest group of buildings that is surrounded by streets. City blocks are th ...
, each side is a different length due to the irregular street grid in the area. The dimensions of the building are on Wall Street, on Hanover Street, on Exchange Place, and on William Street. The building is near
48 Wall Street 48 Wall Street, formerly the Bank of New York & Trust Company Building, is a 32-story, skyscraper on the corner of Wall Street and William Street in the Financial District of Lower Manhattan in New York City. Built in 1927–1929 in the N ...
and
60 Wall Street 60 Wall Street (formerly the J.P. Morgan Bank Building or Deutsche Bank Building) is a 55-story, skyscraper on Wall Street in the Financial District of Lower Manhattan in New York City, New York, U.S. The tower was designed by Kevin Roche and ...
to the north, the Wall and Hanover Building to the east,
20 Exchange Place 20 Exchange Place, originally the City Bank–Farmers Trust Building, is a skyscraper in the Financial District of Lower Manhattan, New York City. Completed in 1931, it was designed by Cross & Cross as the headquarters of the City Bank–Farm ...
to the south, and
15 Broad Street 15 Broad Street (formerly known as the Equitable Trust Building) is a residential condominium and former office building in the Financial District of Manhattan, New York City, on the eastern side of Broad Street between Wall Street and Exchang ...
to the west. Immediately outside the building's northwestern corner is an entrance to the Wall Street station on the
New York City Subway The New York City Subway is a rapid transit system in New York City serving the New York City boroughs, boroughs of Manhattan, Brooklyn, Queens, and the Bronx. It is owned by the government of New York City and leased to the New York City Tr ...
's Broadway–Seventh Avenue Line (served by the ).


Architecture

55 Wall Street is eight stories tall and has a basement; it is composed of the original three-story building and a five-story addition. The original building was designed by Boston architect
Isaiah Rogers Isaiah Rogers (August 17, 1800 – April 13, 1869) was an American architect from Massachusetts who eventually moved his practice south, where he was based in Louisville, Kentucky, and Cincinnati, Ohio. He completed numerous designs for hotels ...
in the
Greek Revival style Greek Revival architecture is a architectural style, style that began in the middle of the 18th century but which particularly flourished in the late 18th and early 19th centuries, predominantly in northern Europe, the United States, and Canada, ...
and built between 1836 and either 1841 or 1842. As constructed, the building was topped by a brick dome rising above ground level. The dome was wide and rose above the main exchange floor. It was supported by "eight
pilaster In architecture, a pilaster is both a load-bearing section of thickened wall or column integrated into a wall, and a purely decorative element in classical architecture which gives the appearance of a supporting column and articulates an ext ...
s of fine variegated Italian marble". The original domed structure was the most prominent part of the Lower Manhattan skyline in the early 19th century.
Charles Follen McKim Charles Follen McKim (August 24, 1847 – September 14, 1909) was an American Beaux-Arts architect of the late 19th century. Along with William Rutherford Mead and Stanford White, he provided the architectural expertise as a member of the par ...
of McKim, Mead & White, along with William S. Richardson, was hired to enlarge the building between 1907 and 1910. The firm had previously designed commercial buildings, including numerous banks. Their work included removing the dome and top story; adding five floors and a second colonnade; and redesigning the exchange floor into a main banking floor. A net total of four stories were added. The first floor was also lowered slightly to resemble a basement and the actual basement was relabeled as a sub-basement.


Facade

The facade is composed of ashlar granite masonry. The northern and eastern facades are composed of thirteen vertical architectural
bays A bay is a recessed, coastal body of water that directly connects to a larger main body of water, such as an ocean, a lake, or another bay. A large bay is usually called a ''gulf'', ''sea'', ''sound'', or ''bight''. A ''cove'' is a small, ci ...
, while the William Street side has ten bays and the Exchange Place side has eight bays. Most of the bays contain one window on each floor. There is an entrance for office tenants at 53 Wall Street, on the west side of the building. The central entrance at 55 Wall Street connects with the former banking room. A
cornice In architecture, a cornice (from the Italian ''cornice'' meaning "ledge") is generally any horizontal decorative Moulding (decorative), moulding that crowns a building or furniture element—for example, the cornice over a door or window, ar ...
and various
entablature An entablature (; nativization of Italian , from "in" and "table") is the superstructure of moldings and bands which lies horizontally above columns, resting on their capitals. Entablatures are major elements of classical architecture, and ...
s wrap around the entire facade. Two
colonnade In classical architecture, a colonnade is a long sequence of columns joined by their entablature, often free-standing, or part of a building. Paired or multiple pairs of columns are normally employed in a colonnade which can be straight or curv ...
s face Wall Street, but the other three facades on William Street, Exchange Place, and Hanover Street have no colonnades. Instead, these sides contain
pilaster In architecture, a pilaster is both a load-bearing section of thickened wall or column integrated into a wall, and a purely decorative element in classical architecture which gives the appearance of a supporting column and articulates an ext ...
s between each bay on the second and third stories, except for the center bay, which is a large arched window. When McKim, Mead & White expanded the building, the pilasters were extended to the fourth through seventh stories of these facades.


Colonnades

The facade of the original structure featured twelve massive Ionic columns on Wall Street, each a single block of granite from
Quincy, Massachusetts Quincy ( ) is a city in Norfolk County, Massachusetts, Norfolk County, Massachusetts, United States. It is the largest city in the county. Quincy is part of the Greater Boston area as one of Boston's immediate southern suburbs. Its population in ...
. These columns are each tall and measure in diameter. Recessed behind this colonnade is a porch, as well as rectangular brass-framed window openings on the second and third stories. In the center of the second floor is a revolving door and two single doors beneath a brass double transom. The facade was originally topped by a
frieze In classical architecture, the frieze is the wide central section of an entablature and may be plain in the Ionic order, Ionic or Corinthian order, Corinthian orders, or decorated with bas-reliefs. Patera (architecture), Paterae are also ...
, according to
lithographs Lithography () is a planographic method of printing originally based on the miscibility, immiscibility of oil and water. The printing is from a stone (lithographic limestone) or a metal plate with a smooth surface. It was invented in 1796 by ...
published during the 19th century. The center of the frieze contained the inscription "Erected MDCCCXXXVIII" (1838 in Roman numerals) and was flanked by carved figures in classical robes. Above the center of the frieze was a sculpture of a woman holding a staff and accompanied by motifs of a cornucopia, an eagle, a globe with a branch, and a parcel. The 1900s renovation placed a second colonnade of Corinthian columns above the original facade. The Corinthian columns were made of granite sourced from
Spruce Head, Maine Spruce Head is an unincorporated village in Knox County, Maine, United States. The community is located on Penobscot Bay and Maine State Route 73 south of Rockland. Spruce Head has a post office with ZIP code 04859, which opened on March 4, ...
, and
Rockport, Massachusetts Rockport is a seaside New England town, town in Essex County, Massachusetts, United States. The population was 6,992 in 2020 United States census, 2020. Rockport is located approximately northeast of Boston, at the tip of the Cape Ann peninsula. ...
. In addition, some of the granite from the lower section of the building was reused in the upper colonnade. These columns measure in diameter, and their centers are spaced apart. The upper colonnade has similar dimensions to the lower colonnade, though the upper colonnade's columns have lighter proportions. The arrangement of lighter Corinthian columns above heavier Ionic columns was in keeping with a principle of
classical architecture Classical architecture typically refers to architecture consciously derived from the principles of Ancient Greek architecture, Greek and Ancient Roman architecture, Roman architecture of classical antiquity, or more specifically, from ''De archit ...
.


Interior

The original building's structural system is made of masonry, while the addition is built around a steel structure. The roof has a
cornice In architecture, a cornice (from the Italian ''cornice'' meaning "ledge") is generally any horizontal decorative Moulding (decorative), moulding that crowns a building or furniture element—for example, the cornice over a door or window, ar ...
with a masonry
parapet A parapet is a barrier that is an upward extension of a wall at the edge of a roof, terrace, balcony, walkway or other structure. The word comes ultimately from the Italian ''parapetto'' (''parare'' 'to cover/defend' and ''petto'' 'chest/brea ...
that surrounds all four sides. The steel frame is placed atop
pilings A pile or piling is a vertical structural element of a deep foundation, driven or drilled deep into the ground at the building site. A deep foundation is a type of foundation that transfers building loads to the earth farther down from th ...
that descend . The pilings were constructed as close as possible to the original walls of the Merchants' Exchange, eliminating the need to excavate the site using
caissons Caisson (French for "box") may refer to: * Caisson (engineering), a sealed underwater structure * Caisson (vehicle), a two-wheeled cart for carrying ammunition, also used in certain state and military funerals * Caisson (Asian architecture), a sp ...
. The building's first floor was originally one story above the street, but it was lowered to ground level during the 1900s renovation. National City Bank employees could enter and exit the building from the southwestern corner of the basement. The interior has a total floor area of . The original interior was completely demolished and refurbished during McKim, Mead & White's renovation. The banking hall is designed similarly to the former waiting room of
Pennsylvania Station Pennsylvania Station or Penn Station may refer to: Current train stations * Baltimore Penn Station * New York Penn Station ** Pennsylvania Station (1910–1963), the predecessor to the present New York City station * Newark Penn Station Trai ...
, another project the firm designed at the same time. The spaces include marble, mahogany, and brass decorations.


Banking hall

The banking hall, a cruciform space, covers and measures from west to east and about from north to south. When built, it was among the United States' largest banking halls. It was accessed by a pair of bronze doors on Wall Street, each weighing . The room's ceiling is approximately tall, with an dome measuring across. On each side are four Corinthian columns, each measuring tall; these support an
entablature An entablature (; nativization of Italian , from "in" and "table") is the superstructure of moldings and bands which lies horizontally above columns, resting on their capitals. Entablatures are major elements of classical architecture, and ...
that circles the space at two-thirds of the room's height. The room also features gray floors and walls, a
coffer A coffer (or coffering) in architecture is a series of sunken panels in the shape of a square, rectangle, or octagon in a ceiling, soffit or vault. A series of these sunken panels was often used as decoration for a ceiling or a vault, al ...
ed ceiling, and delicate mezzanine railings. Light gray stone was imported from Europe for the columns and floors, and gray marble was used for the floors and walls. Above the columns, the interior was finished with artificial stone of a similar color. The ceiling is lit by bronze chandeliers; originally, there were five chandeliers that each measured across. Seals of the National City Bank were also placed throughout the space. The dome is decorated with 16 panels in low relief. Four of the panels bear the directions of the compass, and the remaining twelve have
astrological sign In Western astrology, astrological signs are the twelve 30-degree sectors that make up ecliptic, Earth's 360-degree orbit around the Sun. The signs enumerate from the first day of spring, known as the First Point of Aries, which is the Equinox (c ...
s. The largest coffer in the ceiling is above the southern portion of the banking hall. When the National City Bank moved into the space in 1908, there was a large
safe A safe (also called a strongbox or coffer) is a secure lockable enclosure used for securing valuable objects against theft or fire. A safe is usually a hollow cuboid or cylinder, with one face being removable or hinged to form a door. The body ...
on the south side of the banking floor, which weighed 300 tons. The double-height safe measured approximately across and high. It was surrounded by steel plating and supported by steel and marble stilts that extended into the basement. If anyone attempted to break in, coils along the exterior of the safe would eject hot steam. The interior of the safe contained separate compartments for the bank's daytime and nighttime staff. The safe was moved to the basement in 1957. There was a marble screen and
bank teller A bank teller (often abbreviated to simply teller) is an employee of a bank whose responsibilities include the handling of customer cash and negotiable instruments. In some places, this employee is known as a cashier or customer representative. T ...
s' desks around the safe, within an enclosure measuring across. The Hanover Street side of the banking hall had desks for bank officers, which were separated from the rest of the room by a low marble balustrade with a gate. There were three stories of offices at each corner of the banking hall, which were originally used by the bank. The spaces were designed with few decorations. The southeastern corner of the first floor contained the six-room president's suite, which included the executive and secretary's offices, two conference rooms, a hall, and decorative restroom. Bookkeepers and National City Bank's bond and foreign departments were in each of the other corners. Conference rooms on the third floor were housed in another lavish suite. Pneumatic tubes and telegraph systems were used to transfer data between National City Bank's different departments. The office mezzanines are connected by bronze and iron balconies, which run on two sides of the room alongside the windows. A balcony was also constructed above the southern portion of the banking hall in 1925. The mezzanines also had 21 smaller safes.


Other floors

In addition to the main triple-height banking hall on the first floor, there was originally office space on the fourth through seventh floors and staff facilities on the eighth floor. All of these stories surrounded a
light court In architecture, a lightwell,light well, light-well sky-well,skywell, sky well or air shaft is an unroofed or roofed external space provided within the volume of a large building to allow light and air to reach what would otherwise be a dark or u ...
at the center of the building. The offices on the fourth through seventh floors had the address 53 Wall Street. these offices were rented to outside firms. Elevators for the office stories were placed at the northwestern corner of the building, near Wall and William streets. The fifth floor contained three dining rooms for office employees: one each for officers, other male workers, and other female workers. Also on the fifth floor were laundry, storage, and serving rooms, as well as a kitchen. On the eighth floor was an attic containing facilities used by bank staff. The building's janitor lived on the northwestern corner of the eighth floor, where there was a suite with six rooms and a restroom. For officers who needed to remain at the building overnight, the eighth floor contained two bedrooms with a shared bathroom on the south side of the light court. The eastern side of the eighth floor contained National City Bank's library, while the northern side contained the No.8 social club. The eighth floor also contained dining rooms for men and women, as well as a kitchen, ice-cream room, and kitchen. Dining rooms were also provided for officers and guests. The attic was surrounded by an outdoor patio measuring wide. Part of the patio on the eighth floor could also be used as an outdoor restaurant for employees. In 2006, the five upper stories were converted to a residential
condominium A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual own ...
development, the Cipriani Club Residences. There are 106 condominiums in total, divided into 22
studio apartment A studio apartment, or studio Condominium, condo also known as a studio flat (United Kingdom, UK), self-contained apartment (Nigeria, Ghana), efficiency apartment, bed-sitter (Kenya), or bachelor apartment, is a small apartment, dwelling in ...
s, 62 one-bedroom apartments, 11 two-bedroom apartments, and 11 three-bedroom apartments. The development also includes the Cipriani Club, a set of private residential amenities that are available only to residents. The club includes a library, spa, business lounge, screening room, and hair salon. In addition, club members could use the building's patio and ballroom, and the Cipriani Club also hosted wine-and-cheese tasting events. When the Cipriani Club Residences were completed, residents were given two years of free club membership, after which they had to pay $5,000 annually. Remnants of the building's usage by the United States Custom House included the jail cells used to detain smugglers and spies. The basement contained 12 jail cells, which were used between 1863 and 1899. Embedded in a wall was a cannonball, a keg of gunpowder, and over 100 rudimentary bombs that were believed to have been armaments for custom house employees during the New York City draft riots of 1863. During the 1900s, an elevator was installed to carry valuables between the basement and main banking floor. The safe-deposit vault on the main banking floor was relocated to the basement in 1957. The concrete floor of the basement is thick, requiring workers to blast into the floor while they were installing the vault. The basement includes heating and cooling machinery as well.


History


Merchants' Exchange

The site of 55 Wall Street was previously occupied by a house built in 1656 and a block of housing built in 1789. The original building of the Merchants' Exchange was erected between April 1825 and June 1827 and opened for business on May 1, 1827. It was designed in the Greek Revival style by
Alexander Jackson Davis Alexander Jackson Davis (July 24, 1803 – January 14, 1892) was an American architect known particularly for his association with the Gothic Revival style. Education Davis was born in New York City and studied at the American Academ ...
,
Ithiel Town Ithiel Town (October 3, 1784 – June 13, 1844) was an American architect and civil engineer. One of the first generation of professional architects in the United States, Town made significant contributions to American architecture in the f ...
, and Samuel Thompson. The structure was two stories tall with a raised basement. It had a frontage of along Wall Street and a depth of to Exchange Place. The main facade was made of white
Tuckahoe marble Tuckahoe marble (also known as Inwood and Westchester marble) is a type of marble found in southern New York and western Connecticut in the Northeastern United States. Part of the Inwood Formation of the Manhattan Prong, it dates from the Late ...
and the entrance
portico A portico is a porch leading to the entrance of a building, or extended as a colonnade, with a roof structure over a walkway, supported by columns or enclosed by walls. This idea was widely used in ancient Greece and has influenced many cu ...
had a marble staircase and four Ionic columns. Inside were two large trading rooms with Ionic columns. At the top of the building was a colonnaded
cupola In architecture, a cupola () is a relatively small, usually dome-like structure on top of a building often crowning a larger roof or dome. Cupolas often serve as a roof lantern to admit light and air or as a lookout. The word derives, via Ital ...
rising . The cupola's design was inspired by that of the Old Town Hall in
Manchester Manchester () is a city and the metropolitan borough of Greater Manchester, England. It had an estimated population of in . Greater Manchester is the third-most populous metropolitan area in the United Kingdom, with a population of 2.92&nbs ...
. The first structure was primarily used by grain merchants, though it also had a post office, the
New York Chamber of Commerce The New York Chamber of Commerce was founded in 1768 by twenty New York City merchants. As the first such commercial organization in the United States, it attracted the participation of a number of New York's most influential business leaders, inc ...
, and the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
. Its presence contributed to a redevelopment of the surrounding neighborhood. In 1829, the Merchants' Exchange hired Robert Ball Hughes to sculpt a marble statue of
Alexander Hamilton Alexander Hamilton (January 11, 1755 or 1757July 12, 1804) was an American military officer, statesman, and Founding Fathers of the United States, Founding Father who served as the first U.S. secretary of the treasury from 1789 to 1795 dur ...
, one of the
Founding Fathers of the United States The Founding Fathers of the United States, often simply referred to as the Founding Fathers or the Founders, were a group of late-18th-century American Revolution, American revolutionary leaders who United Colonies, united the Thirteen Colon ...
. The statue, measuring tall, was installed in the Exchange by April 1835. The Merchants' Exchange building burned down in the
Great Fire of New York The 1835 Great Fire of New York was one of three fires that rendered extensive damage to New York City in the 18th and 19th centuries. The fire occurred in the middle of an economic boom, covering 17 city blocks, killing two people, and destroyi ...
on December 17, 1835. Fire swept throughout lower Manhattan. Passersby brought valuable objects from other buildings into the Merchants' Exchange, in the belief that the Merchants' Exchange would survive the fire, but the building's cupola collapsed. The Merchants' Exchange's committee of trustees proposed in February 1836 to build a larger building on the site of the older structure. The remaining lots on the block were acquired for this purpose. The same year, construction started on a new building designed by Isaiah Rogers. According to Rogers's private diaries, he moved his family to a house on the block while construction was ongoing. A
time capsule A time capsule is a historic treasure trove, cache of goods or information, usually intended as a deliberate method of communication with future people, and to help future archaeologists, anthropologists, or historians. The preservation of holy ...
was also placed within the building's foundations, though a search for the capsule in the 1990s was unsuccessful. The Quincy-granite columns were delivered as single blocks via sea; oxen pulled the columns along Wall Street from the dock to the building site. The building was completed in either 1841 or 1842. The last column was not installed until December 16, 1844, the ninth anniversary of the Great Fire. The new structure was initially occupied by the National Bank of Commerce until 1853, and a post office in the building operated until 1845. The Stock Exchange was also situated in 55 Wall Street until 1854.


Custom house

By 1861, the
New York Custom House The United States Custom House, sometimes referred to as the New York Custom House, was the place where the United States Customs Service collected federal customs duties on imported goods within New York City. Locations The Custom House ...
was looking to relocate from 26 Wall Street (now Federal Hall) to 55 Wall Street. The
federal government A federation (also called a federal state) is an entity characterized by a political union, union of partially federated state, self-governing provinces, states, or other regions under a #Federal governments, federal government (federalism) ...
signed a lease with the Merchants' Exchange in February 1862, intending to move into the building that May, when the Merchants' Exchange was set to move out. The architect
William A. Potter William Appleton Potter (December 10, 1842 – February 19, 1909) was an American architect who designed numerous buildings for Princeton University, as well as municipal offices and churches. He served as a Office of the Supervising Architect, ...
then renovated the building. The custom house moved to 55 Wall Street starting in August 1862. The agency's departments were relocated one at a time; the relocation was completed by December 1862. Clerks were situated in the central rotunda under the dome, while cashiers and auditors worked in the corner offices. The building's original fourth story was added around this time, about 20 years after the building had been completed. The proximity of 55 Wall Street to the Subtreasury, which had moved into the old custom house at 26 Wall Street, was particularly beneficial, since the custom house had to make payments in gold. The federal government bought 55 Wall Street outright in 1865. The building also housed other tenants, including the
American Bank Note Company American Banknote Corporation (parent to American Bank Note Company), trading as ABCorp, is an American corporation providing contract manufacturing and related services to the authentication, payment and secure access business sectors. ABCo ...
, who operated a currency printing plant in the penthouse between 1862 and 1867. The Custom House on Wall Street had become overcrowded by 1887. William J. Fryer Jr., superintendent of repairs of New York City's federal-government buildings, wrote to the
United States Department of the Treasury The Department of the Treasury (USDT) is the Treasury, national treasury and finance department of the federal government of the United States. It is one of 15 current United States federal executive departments, U.S. government departments. ...
's
Supervising Architect Supervision is an act or instance of directing, managing, or oversight. Etymology The English noun "supervision" derives from the two Latin words "super" (above) and "videre" (see, observe). Spelling The spelling is "Supervision" in Standard ...
in February 1888 about the "old, damp, ill-lighted, badly ventilated" quarters at 55 Wall Street. ''Architecture and Building'' magazine called the letter "worthy of thoughtful investigation". This led to an act of Congress which authorized the selection of a site for a new custom house and appraiser's warehouse. Soon after, Fryer presented his report to the New York State Chamber of Commerce. The Chamber said in 1889 that "We have not seriously considered the removal of the present Custom House proper, since it is well located, and, if found inadequate, can easily be easily be enlarged to meet all the wants of the Government for an indefinite time to come." By the end of the century, the custom house's proximity to the Subtreasury was no longer advantageous, as it was easier to use a check or certificate to make payments on revenue than to pay with gold. Despite opposition to the new structure, a bill to acquire land for a new custom house and sell the old building was passed in both houses of the U.S. Congress in early 1891. No progress was made until 1897, when
Cass Gilbert Cass Gilbert (November 24, 1859 – May 17, 1934) was an American architect. An early proponent of Early skyscrapers, skyscrapers, his works include the Woolworth Building, the United States Supreme Court building, the state capitols of Minneso ...
was selected to design a new U.S. Custom House at 1
Bowling Green A bowling green is a finely laid, close-mown and rolled stretch of turf for playing the game of bowls. Before 1830, when Edwin Beard Budding of Thrupp, near Stroud, UK, invented the lawnmower, lawns were often kept cropped by grazing sheep ...
.
James Stillman James Jewett Stillman (June 9, 1850 – March 15, 1918) was an American businessman who invested in land, banking, and railroads in New York, Texas, and Mexico. He was chairman of the board of directors of the National City Bank. He forged alli ...
, president of National City Bank (predecessor bank of
Citibank Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Ci ...
), arranged for his company to buy 55 Wall Street for its headquarters. National City Bank had grown into one of the United States' largest banks under Stillman's leadership; the bank held $13 million in deposits when he became its president in 1891, a figure that had increased to nearly $309 million when he retired in 1909. Despite this rapid growth, the bank still occupied a dilapidated space at 52 Wall Street, directly across the street to the north. The U.S. government held a
pro forma The term ''pro forma'' (Latin for "as a matter of form" or "for the sake of form") is most often used to describe a practice or document that is provided as a courtesy or satisfies minimum requirements, conforms to a norm or doctrine and tend ...
public auction, in which City Bank made a formal bid for the building, and the bank agreed on July 4, 1899, to buy the building for $3.265 million. The arrangement had been facilitated by Stillman's friendships with President
William McKinley William McKinley (January 29, 1843September 14, 1901) was the 25th president of the United States, serving from 1897 until Assassination of William McKinley, his assassination in 1901. A member of the Republican Party (United States), Repub ...
and U.S. Treasury Secretary Lyman Gage. The next month, the old Custom House was sold for $3.21 million (about $ million in ).


National City Bank


Conversion

The U.S. Customs Service remained in the building for eight years after the sale, and the federal government paid City Bank $128,000 a year (about $ million in ) to rent space in the building. Democrats in the
House of Representatives House of Representatives is the name of legislative bodies in many countries and sub-national entities. In many countries, the House of Representatives is the lower house of a bicameral legislature, with the corresponding upper house often ...
criticized the transaction, saying Congress's decision to provide rent appropriations to the Customs Service was an "extravagant" use of money. In a vote in 1905, the House blocked an appropriation that would have paid the Customs Service's rent to City Bank. House
Republicans Republican can refer to: Political ideology * An advocate of a republic, a type of government that is not a monarchy or dictatorship, and is usually associated with the rule of law. ** Republicanism, the ideology in support of republics or agains ...
eventually approved the rent appropriation for the building in June 1906. Meanwhile, City Bank had paid all except $40,000 of the purchase price as part of its agreement with the federal government. The bank had not yet taken title to 55 Wall Street, though the city's tax assessors valued the building at $5 million. As a result, the New York City government sued City Bank for non-payment of taxes in January 1906. Representatives of the bank said that because it had not taken title to the building, the bank should not have to pay property taxes. Stillman, wishing to modify 55 Wall Street, had hired McKim, Mead & White in 1904.
Stanford White Stanford White (November 9, 1853 – June 25, 1906) was an American architect and a partner in the architectural firm McKim, Mead & White, one of the most significant Beaux-Arts firms at the turn of the 20th century. White designed many houses ...
was the original head of the project, though he died in 1906 before work started. White had suggested redesigning the building to resemble the Pantheon in
Rome Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...
, and Stillman sent a City Bank vice president to Italy to study the Pantheon's architecture. The bank's officers initially advocated for replacing the Merchants' Exchange Building with a skyscraper, and members of the public worried that the building would be demolished. Until early 1907, it was unclear whether City Bank would expand the building or replace it with an 18-to-20-story structure, so the firm was asked to prepare two sets of plans. Stillman and architect
Charles Follen McKim Charles Follen McKim (August 24, 1847 – September 14, 1909) was an American Beaux-Arts architect of the late 19th century. Along with William Rutherford Mead and Stanford White, he provided the architectural expertise as a member of the par ...
also considered developing a 23-story tower and preserving the existing building at the tower's base, as well as modifying the existing building while retaining the rotunda from Rogers's design. The Customs Service moved its offices to Bowling Green on November 4, 1907. Four days afterward, City Bank finally took title to the building, having paid no taxes for the structure during the past eight years. After the Customs Service moved, the bank decided to expand the building. Work was delayed slightly because of the
Panic of 1907 The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange suddenly fell almost ...
. The renovation included replacing the fourth floor, adding four more floors, and completely destroying and rebuilding the interior. Contractors retained as much of the existing exterior as possible. The upper stories were constructed from 1908 to 1910, though some of the interior spaces were not completed until 1914. National City Bank moved to 55 Wall Street on December 19, 1908. Messengers carried the bank's $500 million holdings from the old office across the street in leather satchels containing at least $10,000 each. Several days later, the building opened to the public. The expansion had cost $2.3 million (about $ million in ).


1910s to 1940s

Upon the completion of the renovation, National City Bank's law firm
Shearman & Sterling Shearman & Sterling was a White shoe multinational law firm headquartered in New York City, United States. In 2024 it merged with Allen & Overy to form A&O Shearman. History Wall Street origins Shearman & Sterling was founded in New York City ...
had offices on the upper stories. According to ''
Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...
'' magazine in 1917, the branch at 55 Wall Street "does more business in its head office than is done under any other nongovernmental banking roof on the face of the earth." A balcony was constructed in 1925 on the south side of the main banking room. The bank had outgrown its offices at 55 Wall Street by February 1927, prompting bank officials to announce plans for a 31-story building on the site of its old headquarters at 52 Wall Street. National City Bank's compound interest and trust departments moved to the new building at 52 Wall Street in May 1928. National City Bank and the Farmers' Loan and Trust Company merged in 1929, with the latter becoming the City Bank Farmers Trust Company. Two years later, City Bank Farmers Trust erected 20 Exchange Place immediately to the south to house the operations of the expanded bank. First National Bank temporarily moved to 55 Wall Street from its former location at 2 Wall Street, when that structure was weakened during the construction of an annex to
14 Wall Street 14 Wall Street, originally the Bankers Trust Company Building, is a skyscraper at the intersection of Wall Street and Nassau Street (Manhattan), Nassau Street in the Financial District, Manhattan, Financial District of Manhattan in New York City ...
, although First National returned to 2 Wall Street in 1933. 55 Wall Street and 20 Exchange Place collectively served as National City Bank's global headquarters and were connected by a now-demolished pedestrian bridge over Exchange Place. Initially, 55 Wall Street did not have any signage indicating that it housed the National City Bank. In 1947, bank officials decided to install a sign with the bank's name outside the building because visitors frequently got lost while looking for the bank.


1950s to 1990s

National City Bank merged with the First National Bank in 1955, becoming First National City Bank; the newly merged banks were headquartered at 55 Wall Street. During the same period, the main banking room at 55 Wall Street underwent a multi-year restoration that finished in 1958. The two-story safe-deposit vault was moved to the basement between September and November 1957. Shortly afterward, in March 1958, City Bank Farmers Trust took over the construction of a skyscraper on
399 Park Avenue 399 Park Avenue is a 41-story office building that occupies the entire block between Park Avenue and Lexington Avenue and 53rd Street and 54th Street in Midtown Manhattan, New York City. The building was the world headquarters of Citigroup from ...
, which the
Astor family The Astor family achieved prominence in business sector, business, Socialite, society, and politics in the United States and the United Kingdom during the 19th and 20th centuries. With Germans, German roots, some of their ancestry goes back to th ...
had previously been developing. First National initially considered relocating all of its operations to Park Avenue. By 1959, the bank had decided to relocate its national and international divisions, as well as administrative offices for its New York City branches, to Park Avenue while retaining its legal headquarters and some departments at 55 Wall Street. The Park Avenue headquarters opened in 1961, although First National retained 55 Wall Street as a downtown headquarters. The
New York City Landmarks Preservation Commission The New York City Landmarks Preservation Commission (LPC) is the Government of New York City, New York City agency charged with administering the city's Historic preservation, Landmarks Preservation Law. The LPC is responsible for protecting Ne ...
(LPC) designated 55 Wall Street's exterior as one of the city's earliest official landmarks in 1965. Through the late 20th century, Citibank continued to operate a full-service retail branch at 55 Wall Street called Branch #001. It also remained a substantial location for private banking operations. A universal tellers' station, which allowed tellers to perform multiple banking functions, was installed in the banking hall in 1979, and part of the exterior parapet wall was restored during that time. The Walker Group designed the renovation, while the A. J. Construction Company was the
main contractor Main may refer to: Geography *Main River (disambiguation), multiple rivers with the same name *Ma'in, an ancient kingdom in modern-day Yemen *Main, Iran, a village in Fars Province *Spanish Main, the Caribbean coasts of mainland Spanish territo ...
. By then, the banking hall had not been open to the public for several years, but Citibank had declined several developers' offers to buy the building. The renovations entailed removing escalators and platforms that had been installed in the 1950s, as well as the installation of new counters and a partition wall that ran diagonally across the banking room. The developer George Klein bought of the unused
air rights In real estate, air rights are the property interest in the "space" above the Earth's surface. Generally speaking, owning or renting land or a building includes the right to use and build in the space above the land without interference by oth ...
on 55 Wall Street's site in 1983 as part of the construction of the adjacent 60 Wall Street; the LPC supported this move. Shearman & Sterling moved out of 55 Wall Street in 1987. The developer Philip Pilevsky, along with three principals of the
Newmark Group Newmark Group Inc. is a global commercial real estate advisory and services firm headquartered in New York City. It operates as ''Newmark'', and is listed on the NASDAQ Global Select Market under the symbol "NMRK". The company’s services inclu ...
, agreed to buy the building in early 1987. Pilevsky and his associates
Jeffrey Gural Jeffrey Gural (born July 6, 1942) is a New York real estate developer. Early life and education Gural was born to Jewish American real estate developer Aaron Gural and Harriet Feil. His mother died in 1945. His father was part owner of Newmar ...
and Barry Gosin, both of the Newmark Group, bought 55 Wall Street later that year for $49 million. Newmark began looking for tenants to occupy more than half of the building's space. Milgrim Thomajan & Lee, a large law firm based in Midtown Manhattan, agreed to lease , becoming one of the building's major tenants in the 1980s and early 1990s.


Later use


1990s proposals

Gural, Gosin, and Pilevsky spent over $20 million to renovate the building. While the renovation was ongoing, the building's chief engineer won a $3 million lottery jackpot and resigned. The group sold 55 Wall Street in 1990 to a group of private Japanese investors for $69 million. The buyer was later identified as Tokyo-based builders Kajima. Citibank closed its branch bank in 1992, and Migrim Thomajan & Lee went bankrupt. Afterward, 55 Wall Street was used mostly for film shoots, since the rotunda was unoccupied and much of the office space on the upper floors was also vacant. The building was depicted in advertisements, like those for
Cadillac Cadillac Motor Car Division, or simply Cadillac (), is the luxury vehicle division (business), division of the American automobile manufacturer General Motors (GM). Its major markets are the United States, Canada and China; Cadillac models are ...
and the mutual funds company PNC Inc., as well as in films such as ''
Batman Forever ''Batman Forever'' is a 1995 American superhero film based on the DC Comics character Batman by Bob Kane and Bill Finger. It is the third installment of the ''Batman'' film series, acting as a standalone sequel to ''Batman Returns''. Directe ...
'' and ''
Die Hard with a Vengeance ''Die Hard with a Vengeance'' is a 1995 American action film directed and produced by John McTiernan, from a screenplay written by Jonathan Hensleigh, and starring Bruce Willis as John McClane. It is the third installment in the ''Die Hard'' f ...
''. 55 Wall Street's various landmark statuses precluded potential tenants from easily renovating the exterior, and the rotunda was only attractive to large retailers, while office tenants were relegated to a side entrance. Kajima subsidiary Commercial Development had tried to lease the banking hall to a retailer, such as
CompUSA CompUSA, Inc. was a retailer and reseller of Personal computer, personal computers, consumer electronics, technology products and computer services. Starting with one Brick and mortar, brick-and-mortar store in 1986 under the name Soft Warehouse, ...
or
Barnes & Noble Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 600 retail stores across the United States. Barnes & Noble operates mainly through its B ...
, and it enlarged an existing loading dock on Exchange Place to attract retail tenants. Despite the lack of potential tenants for the rotunda, several firms had shown interest in leasing the office space. Real estate developer
Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...
offered to buy 55 Wall Street in 1996 for $20 million, which he stated was a bargain cost. At the time, many tenants had left the building after their leases had expired, and an excess of vacant office space in Lower Manhattan had reduced property values in the area. Trump ultimately decided not to buy 55 Wall Street, and one of
Credit Suisse First Boston Credit Suisse First Boston (also known as CSFB and CS First Boston) was the investment banking affiliate of Credit Suisse headquartered in New York. The company was created by the merger of First Boston Corporation and Credit Suisse Group in 1 ...
's subsidiaries instead purchased the building for $21.15 million. Credit Suisse wanted to convert 55 Wall Street into a residential structure or a hotel.


Conversion to event venue, hotel, and residences

In September 1997, the building was sold again to a group headed by restaurant-and-ballroom company
Cipriani S.A. Cipriani S.A. is an Italian hotel and leisure company domiciled in Luxembourg that owns and operates luxury restaurants and clubs around the world including Harry's Bar in Venice and formerly the Rainbow Room in New York City. It specialises in ...
, businessman
Sidney Kimmel Sidney J. Kimmel (born January 16, 1928) is an American businessman, philanthropist, and film producer. He is ranked 2141st in the ''Forbes'' list of the richest people alive in 2021. Personal life Kimmel was born into a Jewish family in Phi ...
, and
Hotel Jerome The Hotel Jerome is located on East Main Street ( State Highway 82) in Aspen, Colorado, United States. It is a brick structure built in the 1880s that is often described as one of the city's major landmarks, its "crown jewel". In 1986 it was list ...
operator T. Richard Butera for $27 million. By that point, there was high demand for luxury hotels in Lower Manhattan. Starting the next year, building was completely renovated into a luxury hotel. The banking room became a ballroom and luxury restaurant space called Cipriani Wall Street. Midway through the renovation, Cipriani was replaced with
Regent Hotels & Resorts Regent Hotels & Resorts is a British-American luxury hospitality brand, founded by hotelier Robert H. Burns in 1970. After passing through different owners since foundation, it is currently jointly owned by IHG Hotels & Resorts and Formosa Intern ...
as the prospective operator of the hotel. Kimmel also bought out Cipriani's share of the management contract for 55 Wall Street. The Regent Wall Street Hotel opened in 2000 with 144 guest rooms, a restaurant, and a fitness center. After the
September 11 attacks The September 11 attacks, also known as 9/11, were four coordinated Islamist terrorist suicide attacks by al-Qaeda against the United States in 2001. Nineteen terrorists hijacked four commercial airliners, crashing the first two into ...
destroyed the nearby
World Trade Center World Trade Centers are the hundreds of sites recognized by the World Trade Centers Association. World Trade Center may also refer to: Buildings * World Trade Center (1973–2001), a building complex that was destroyed during the September 11 at ...
in 2001, 55 Wall Street served as a relief center for workers and area residents and was used by
Tribeca Film Festival The Tribeca Festival is an annual film festival organized by Tribeca Enterprises. It takes place each spring in New York City, showcasing a diverse selection of film, episodic, talks, music, games, art, and immersive programming. The festival ...
attendees. The hotel's overall business declined, leading to its closure in 2003. Cipriani and developer
Steve Witkoff Steven Charles Witkoff (born March 15, 1957) is an American real estate investor and lawyer who has served as the Ambassadors of the United States#Special envoys, representatives, and coordinators, United States Special Envoy to the Middle East ...
formed a partnership in 2004, converting the defunct hotel rooms into a residential condominium development called the Cipriani Club Residences. Louise Sunshine was hired to sell the apartments through her company Sunshine Group, and tenants began buying apartments in November 2005. Two early residents, actor
Mickey Rourke Philip Andre "Mickey" Rourke Jr. ( ; born September 16, 1952) is an American actor and former professional Boxing, boxer who has appeared primarily as a leading actor, leading man in drama, action, and thriller films. In a Mickey Rourke filmogra ...
and supermodel
Naomi Campbell Naomi Elaine Campbell (born 22 May 1970) is a British supermodel. Beginning her career at the age of eight, Campbell was one of six models of her generation declared supermodels by the fashion industry and the international press. She was th ...
, appeared in advertisements for the Cipriani Club Residences in exchange for discounts on the building's condominiums. Sunshine Group had sold 37 of the 106 condominiums by February 2006, when Witkoff hired a new leasing agent,
Douglas Elliman Douglas Elliman is an American real estate company. Douglas Elliman employs more than 7,000 agents and has 113 offices in New York City and across the country. The company also has a number of subsidiaries related to real estate services such as ...
. The buyers of the remaining condominiums included financiers; two friends of
Sarah, Duchess of York Sarah, Duchess of York (born Sarah Margaret Ferguson; 15 October 1959), also known by the nickname Fergie, is a British author, philanthropist, television personality, and member of the extended British royal family. She is the former wife of P ...
; and soccer captain
Claudio Reyna Claudio Alejandro Reyna (born July 20, 1973) is an American former professional soccer player and former executive. He most recently served as sporting director of Austin FC. A former midfielder, he spent most of his professional career in Eur ...
. Most of the studios and one-bedroom apartments had been sold by mid-2006, though the two- and three-bedroom apartments were still being completed. The main banking floor remained in use as the Cipriani Wall Street event venue, which hosted the
Peabody Awards The George Foster Peabody Awards (or simply Peabody Awards or the Peabodys) program, named for the American businessman and philanthropist George Foster Peabody, George Peabody, honor what are described as the most powerful, enlightening, and in ...
from 2015 to 2019. In May 2020, amid a loss of income during the
COVID-19 pandemic in New York City The first case of the COVID-19 pandemic in New York City was confirmed on March 1, 2020, though later research showed that the novel coronavirus had been circulating in New York City since January, with cases of community transmission confirme ...
, Cipriani defaulted on a mortgage loan that had been placed on its event venues at
110 East 42nd Street 110 East 42nd Street, also known as the Bowery Savings Bank Building, is an 18-story office building in the Midtown Manhattan neighborhood of New York City. The structure was designed in the Italian Romanesque Revival style by York and Sawye ...
and 55 Wall Street. A special servicer took over the mortgage in 2021, but the two event venues were at risk of
foreclosure Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has Default (finance), stopped making payments to the lender by forcing the sale of the asset used as the Collateral (finance), coll ...
by the end of that year. By June 2022,
King Street Capital Management King Street Capital Management is an American investment management company founded in 1995 by Brian J. Higgins and Francis Biondi Jr.McIntosh, Bill, ed."The US50" The Hedge Fund Journal in association with Newedge Prime Brokerage Group. Accesse ...
was considering giving Cipriani $150 million to refinance the debt on 110 East 42nd Street and 55 Wall Street. That September, W. P. Carey gave Cipriani a $52.1 million commercial mortgage-backed securities loan and a $28 million mezzanine loan for the two properties.


Reception and landmark designations

According to James Stillman, 55 Wall Street's 1900s expansion was meant to be an "outward and visible sign of power and combination". One writer characterized the design as "a temple of finance" that was "one of the most opulent banking houses in the United States", and ''The New York Times'' dubbed it a "temple of capitalism". Architectural criticism was mixed. The author Peter James Hudson wrote that some critics praised Stillman for retaining the old structure rather than replacing it with a modern skyscraper. Stillman's immediate successor Frank A. Vanderlip had preferred such a tower because he predicted that National City Bank would quickly outgrow the space. Hudson wrote that other critics "viewed the renovation as an aesthetic aberration", especially with regards to the juxtaposition of the colonnades. After the building was renovated in the late 1970s, architectural writer
Ada Louise Huxtable Ada Louise Huxtable (née Landman; March 14, 1921 – January 7, 2013) was an American architecture critic and writer on architecture. Huxtable established architecture and urban design journalism in North America and raised the public's awarene ...
described the renovations as "laudable" and that "it would be nice to be able to say that the results are as good as the intentions". The interior was critically acclaimed: the fourth edition of the ''
AIA Guide to New York City The ''AIA Guide to New York City'' by Norval White, Elliot Willensky, and Fran Leadon is an extensive catalogue with descriptions, critique and photographs of significant and noteworthy architecture throughout the five boroughs of New York City. ...
'' called the interior a "facility unequaled in America", and the converted banking hall was described as among the world's "most elegant ballrooms". Historian
Leland M. Roth Leland M. Roth (born 22 March 1943) is an American architectural historian who is the Marion Dean Ross Distinguished Professor of Architectural History emeritus in the Department of the History of Art and Architecture in the University of Oregon ...
wrote that the banking hall was "one of the great spaces in the city" because of its "sheer magnitude". In 1972, the ''Times'' described 55 Wall Street's banking hall as one of several "notable interior spaces" in New York City, along with the banking halls of
14 Wall Street 14 Wall Street, originally the Bankers Trust Company Building, is a skyscraper at the intersection of Wall Street and Nassau Street (Manhattan), Nassau Street in the Financial District, Manhattan, Financial District of Manhattan in New York City ...
,
23 Wall Street 23 Wall Street (also known as the J.P. Morgan Building) is a four-story office building in the Financial District of Manhattan in New York City, at the southeast corner of Wall Street and Broad Street. Designed by Trowbridge & Livingst ...
, and
110 East 42nd Street 110 East 42nd Street, also known as the Bowery Savings Bank Building, is an 18-story office building in the Midtown Manhattan neighborhood of New York City. The structure was designed in the Italian Romanesque Revival style by York and Sawye ...
; the Chamber of Commerce Building's great hall; the
Cunard Building The Cunard Building is a Grade II* listed building in Liverpool, England. It is located at the Pier Head and along with the neighbouring Royal Liver Building and Port of Liverpool Building is one of Liverpool's ''Three Graces'', which line the ...
's lobby; and the Bowling Green Custom House's rotunda. The New York City Landmarks Preservation Commission designated the building's exterior as a landmark on December 21, 1965, even though First National City Bank had opposed the designation. 55 Wall Street was also listed on the
National Register of Historic Places The National Register of Historic Places (NRHP) is the Federal government of the United States, United States federal government's official United States National Register of Historic Places listings, list of sites, buildings, structures, Hist ...
in 1972, and it was further designated a
National Historic Landmark A National Historic Landmark (NHL) is a National Register of Historic Places property types, building, district, object, site, or structure that is officially recognized by the Federal government of the United States, United States government f ...
in 1978, marking the building as a site that adds "exceptional value to the nation". The building was added to the
New York State Register of Historic Places The New York State Register of Historic Places (NYSRHP) is a listing of "properties significant in history, architecture, engineering, landscape design, archeology, and culture" in the U.S. state of New York. The register was created by the New ...
in 1980 as well. The LPC designated the banking floor's interior as a city landmark on January 12, 1999. Additionally, in 2007, the building was designated as a contributing property to the Wall Street Historic District, a NRHP district.


See also

*
List of New York City Designated Landmarks in Manhattan below 14th Street The New York City Landmarks Preservation Commission (LPC), formed in 1965, is the Government of New York City, New York City governmental commission that administers the city's Landmarks Preservation Law. Since its founding, it has designated ov ...
*
List of National Historic Landmarks in New York City This article lists the 116 National Historic Landmarks in New York City. One of the New York City sites is also a national monument (United States), national monument, and there are two more national monuments in New York City. In New York (st ...
*
National Register of Historic Places listings in Manhattan below 14th Street This is intended to be a complete list of properties and districts listed on the National Register of Historic Places on Manhattan Island below 14th Street, which is a significant portion of the New York City borough of Manhattan Manhatt ...


References


Notes


Citations


Sources

* * * * * * * * * * * * * *


External links


Cipriani Wall Street website
{{Financial District, Manhattan 1841 establishments in New York (state) Bank buildings in Manhattan Bank buildings on the National Register of Historic Places in New York City Citigroup buildings Commercial buildings completed in 1841 Financial District, Manhattan Greek Revival architecture in New York City Historic district contributing properties in Manhattan Individually listed contributing properties to historic districts on the National Register in New York (state) National Historic Landmarks in Manhattan New York City Designated Landmarks in Manhattan New York City interior landmarks New York State Register of Historic Places in New York County Wall Street 1840s architecture in the United States