Harry Macklowe plans to convert one of Manhattan’s most iconic office towers into rental units and condominiums.
Located at the southern corner of Broadway in Manhattan’s financial district, One Wall Street is a fifty story art deco skyscraper. Currently known as the BNY Mellon Building, serving as that company’s global headquarters, it was previously the Bank of New York Building and was originally the Irving Trust Company Building. That company began its construction in 1929, shortly before the stock market crash.
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According to the New York Daily News Macklowe intends to split it evenly between rentals and for-sale properties totaling 800, 000 square feet of space. There will also be 350, 000 square feet of retail space on the ground floors.
Macklowe acquired the building for $585 million this past spring.
“The tower design by Ralph Walker of the architectural firm of Voorhees, Gmelin & Walker is an Art Deco masterwork. The expensive limestone façade was sculpted in an unusual curtain-like surface that softened the play of light and shadow. 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. The magnificent rendering by the delineator Chester B. Price displayed here conveys the monumental dignity of the building as seen from Broadway, across the cemetery of Trinity Church.”