55 Wall Street

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Wall Street Historic District

U.S. National Register of Historic Places

NYC Landmark No. 0040, 1979

55 Wall Street in 2012

Wikimedia | © OpenStreetMap

55 Wall Street
Location
Manhattan, New York

40°42′22″N 74°00′34″WCoordinates:
Coordinates
40°42′22″N 74°00′34″W

1836 – 1841 or 1842 (original)[a]

Built
1907 to 1910 (additions)[2]

Isaiah Rogers (original)

Architect
McKim, Mead & White (additions)[2]

Greek Revival (original)

Architectural style
Roman (additions)[2]

NRHP reference No. 72000872 (NRHP listing), 78001875 (NHL listing)[1]

NYCL No. 0040, 1979

Significant dates

Added to NRHP August 18, 1972

Designated {{{NRHP_TYPE}}} June 2, 1978[5]

December 21, 1965 (exterior)[3]

Designated NYCL
January 12, 1999 (interior) [4]
55 Wall Street, also formerly known as the National City Bank Building, is an eight-story
building on Wall Street between William and Hanover streets in the Financial District of
Lower Manhattan in New York City, United States. The lowest three stories were completed
in either 1841 or 1842[a] as the four-story Merchants' Exchange and designed by Isaiah
Rogers in the Greek Revival style. Between 1907 and 1910, McKim, Mead & White removed
the original fourth story and added five floors to create the present building. The facade and
part of the interior are New York City designated landmarks, and the building is a National
Historic Landmark listed on the National Register of Historic Places (NRHP). The building is
also a contributing property to the Wall Street Historic District, listed on the NRHP.

55 Wall Street's granite facade contains two stacked colonnades facing Wall Street, each with
twelve columns. Inside is a cruciform banking hall with a 60-foot (18 m) vaulted ceiling,
Corinthian columns, marble floors and walls, and an entablature around the interior. The
banking hall was among the largest in the United States when it was completed. The offices
of Citibank'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 Merchants' Exchange building was erected to replace an older structure that had burned
down in the Great New York City Fire of 1835. 55 Wall Street subsequently hosted the New
York Stock Exchange and the United States Custom House until a new Custom House
building was developed on Bowling Green. After the building's expansion, it served as the
headquarters of National City Bank from 1908 to 1961, though Citibank continued to own the
building until 1992. The upper stories operated as a hotel from 2000 to 2003, then were
renovated again and converted into condominiums in 2006. The original banking room
became a ballroom.

Contents
 1 Site
 2 Architecture

o 2.1 Facade

 2.1.1 Colonnades

o 2.2 Interior

 2.2.1 Banking hall

 2.2.2 Other floors

 3 History

o 3.1 Merchants' Exchange

o 3.2 Custom house
o 3.3 National City Bank

 3.3.1 Conversion
  3.3.2 Usage

o 3.4 Later use

 3.4.1 1990s proposals

 3.4.2 Conversion to event venue, hotel, and residences

 4 Reception and landmark designations

 5 See also
 6 References

o 6.1 Notes
o 6.2 Citations
o 6.3 Sources

 7 External links

Site
55 Wall Street occupies a full block bounded by Wall Street to the north, Hanover Street to
the east, Exchange Place to the south, and William Street to the west.[6] Though the building
occupies an entire city block, each side is a different length due to the irregular street grid in
the area.[6][7][8] The dimensions of the building are 191 feet (58 m) on Wall Street, 141 feet
(43 m) on Hanover Street, 197 feet (60 m) on Exchange Place, and 177 feet (54 m) on
William Street.[9]

The building is near 48 Wall Street and 60 Wall Street to the north, the Wall and Hanover
Building to the east, 20 Exchange Place to the south, and 15 Broad Street to the west.
Immediately outside the building's northwestern corner is an entrance to the Wall Street
station on the New York City Subway's Broadway–Seventh Avenue Line (served by the 2
and 3 trains).[6]

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.[7] The original building was designed by Boston
architect Isaiah Rogers in the Greek Revival style and built between 1836 and either 1841 or
1842.[a] As constructed, the building was topped by a brick dome[14] rising 124 feet (38 m)
above ground level.[8][9][15] The dome was 80 feet (24 m) wide and rose 90 feet (27 m) above
the main exchange floor.[9] It was supported by "eight pilasters of fine variegated Italian
marble".[16] The original domed structure was the most prominent part of the Lower
Manhattan skyline in the early 19th century.[17]

Charles Follen McKim 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.[18] 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.[10][2] 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
subbasement.[19]

Facade

The facade is composed of ashlar granite masonry. The northern and eastern facades are
composed of thirteen vertical architectural bays, while the William Street side has ten bays
and the Exchange Place side has eight bays.[7][8] 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.[20]

A cornice and various entablatures wrap around the entire facade. Two colonnades face Wall
Street, but the other three facades on William Street, Exchange Place, and Hanover Street
have no colonnades. Instead, these sides contain pilasters between each bay on the second
and third stories, except for the center bay, which is a large arched window.[21] When McKim,
Mead & White expanded the building, the pilasters were extended to the fourth through
seventh stories of these facades.[22]

Colonnades

The facade of the original structure featured twelve massive Ionic columns on Wall Street,
each a single block of granite from Quincy, Massachusetts.[9][12][23] These columns are each
30.67 feet (9.35 m) tall and measure 4 feet (1.2 m) in diameter.[24] Recessed behind this
colonnade is a porch,[14] as well as rectangular brass-framed window openings on the second
and third stories.[24] In the center of the second floor is a revolving door and two single doors
beneath a brass double transom.[24] The facade was originally topped by a frieze, according to
lithographs published during the 19th century.[15] The center of the frieze contained the
inscription "Erected MDCCCXXXVIII" (1838 in Roman numerals) and was flanked by
carved figures in classical robes.[25] 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.[15]

The 1900s renovation placed a second colonnade of Corinthian columns above the original
facade.[7][25][3] The Corinthian columns were sourced from Spruce Head, Maine, and Rockport,
Massachusetts.[26] These columns measure 3.75 feet (1.14 m) in diameter and their centers are
spaced 14 feet (4.3 m) apart.[22] The upper colonnade has similar dimensions to the lower
colonnade,[24] though they have lighter proportions.[27] The arrangement of lighter Corinthian
columns above heavier Ionic columns was in keeping with a principle of classical
architecture.[27][28]

Interior
National City Bank's executive offices at 55 Wall Street (1911)

The original building's structural system is made of masonry, while the addition is built
around a steel structure. The roof has a cornice with a masonry parapet that surrounds all four
sides.[7] The steel frame is placed atop pilings that descend 35 feet (11 m).[29]

The interior has a total floor area of 241,000 square feet (22,400 m2).[30] The original interior
was completely demolished and refurbished during McKim, Mead & White's renovation.[26]
The banking hall is designed similarly to the former waiting room of Pennsylvania Station,
another project the firm designed at the same time.[31] The spaces include marble, mahogany,
and brass decorations.[17]

Banking hall

The banking hall, a cruciform space, measures 187 feet (57 m) from west to east and 120 feet
(37 m) from north to south.[23][32][33] When built, it was among the United States' largest
banking halls.[21] It was accessed by a pair of bronze doors on Wall Street, each weighing
3,300 pounds (1,500 kg).[34] The room has a 60-foot-tall (18 m) ceiling with an 83-foot-tall
(25 m) dome,[34][b] measuring 52 feet (16 m) across.[35] On each side are four Corinthian
columns,[27] each measuring 41 feet (12 m) tall; these support an entablature that circles the
space at two-thirds of the room's height.[21][31] The room also features gray floors and walls, a
coffered ceiling, and delicate mezzanine railings.[21][31] Light gray stone was imported from
Europe for the columns and floors,[34] and gray marble was used for the floors and walls.[31]
The ceiling is lit by bronze chandeliers, and seals of the National City Bank were also placed
throughout the space.[21][26][31] The dome is decorated with 16 panels[29] in low relief.[31] Four of
the panels bear the directions of the compass, and the remaining twelve have astrological
signs.[29]

55 Wall Street banking hall, prepared for the 74th Annual Peabody Awards

The largest coffered vault in the banking hall is within its southern portion.[35] When the
National City Bank moved into the space in 1908, there was a large safe on the south side of
the banking floor,[22][31][36] measuring 24 feet (7.3 m) tall and 22 feet (6.7 m) wide. The safe
had a protection system that ejected hot steam if someone attempted to break in.[26][34][36] The
safe was moved to the basement in 1957.[23][c] There was a marble screen and bank tellers'
desks around the safe. The other arms of the banking hall had desks for bank officers.[31]

There are 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.[26][34] 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 decorated restroom.[24][35]
Bookkeepers and National City Bank's bond and foreign departments were in each of the
other corners.[31] Conference rooms on the third floor were housed in another lavish suite.[24]
Pneumatic tubes and telegraph systems were used to transfer data between National City
Bank's different departments.[26][36] The office mezzanines are connected by bronze and iron
balconies,[27] 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.[31]

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.[34] The
offices on the fourth through seventh floors had the address 53 Wall Street.[20] 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, men, and women. Also on the fifth floor were laundry, storage, and serving
rooms, as well as a kitchen.[22] On the eighth floor was an attic containing facilities used by
bank staff. The building's janitor lived in one corner of the eighth floor, where there was a
suite with six rooms and a restroom. 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 and there was an additional pair of bedrooms that shared a
restroom. Space was also provided for National City Bank's library and for the No. 8 social
club.[34][26] Part of the patio on the eighth floor could also be used as an outdoor restaurant for
employees.[26]

In 2006, the five upper stories were converted to a residential condominium development, the
Cipriani Club Residences.[37] There are 106 condominiums in total, divided into 22 studio
apartments, 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.[38]

A remnant of the building's usage by the United States Custom House was the jail cells used
to detain smugglers and spies.[29] The basement contained 12 jail cells,[39] which were used
between 1863 and 1899.[23] 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.[32] The basement also contains the
safe-deposit vault that was formerly on the main banking floor. The concrete floor of the
basement is 10 feet (3.0 m) thick, requiring workers to blast into the floor while they were
installing the vault in 1957.[23] The basement includes heating and cooling machinery as well.
[21]

History
Merchants' Exchange
The original Merchants' Exchange was built in 1827 and destroyed on December 16, 1835.

The site of 55 Wall Street was previously occupied by a house built in 1656 and a block of
housing built in 1789.[26] The original building of the Merchants' Exchange was erected
between April 1825 and June 1827[40] and opened for business on May 1, 1827.[41] It was
designed in the Greek Revival style by Alexander Jackson Davis, Ithiel Town, and Samuel
Thompson.[42][35] The structure was two stories tall with a raised basement. It had a frontage of
114 feet (35 m) along Wall Street and a depth of 150 feet (46 m) to Exchange Place.[41][42] The
main facade was made of white Tuckahoe marble and the entrance portico had a marble
staircase and four Ionic columns.[9][41][43] Inside were two large trading rooms with Ionic
columns.[44] At the top of the building was a colonnaded cupola rising 120 feet (37 m).[9][41][43]
The cupola's design was inspired by that of the Old Town Hall in Manchester.[45]

The first structure was primarily used by grain merchants,[16] though it also had a post office,
the New York Chamber of Commerce, and the New York Stock Exchange.[43][9] Its presence
contributed to a redevelopment of the surrounding neighborhood.[46] In 1829, the Merchants'
Exchange hired Robert Ball Hughes to sculpt a marble statue of Alexander Hamilton, one of
the Founding Fathers of the United States.[47] The statue, measuring 15 feet (4.6 m) tall,[48]
was installed in the Exchange by April 1835.[47][49][d] The Merchants' Exchange building
burned down in the Great Fire of New York on December 17, 1835.[12][50][13] Passersby
brought in valuable objects from the streets, hoping that the Merchants' Exchange would
survive the fire, but the building's cupola collapsed.[51]

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.[52] The same year, construction started on a new building designed by Isaiah
Rogers.[10][3][48][15] According to Rogers's private diaries, he moved his family to a house on the
block while construction was ongoing. A time capsule was also placed within the building's
foundations, though a search for the capsule in the 1990s was unsuccessful.[39] 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.[23] The building was completed in either 1841[10][11] or
1842.[12][13][15] The last column was not installed until December 16, 1844, the ninth
anniversary of the Great Fire.[23] The new structure was initially occupied by the National
Bank of Commerce until 1853, and a post office in the building operated until 1845.[53] The
Stock Exchange was also situated in 55 Wall Street until 1854.[25][54]
Custom house

55 Wall Street as it appeared in 1842

By 1861, the New York Custom House was looking to relocate from 26 Wall Street (now
Federal Hall) to 55 Wall Street.[55] The federal government 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.[56] The architect William A. Potter then renovated
the building.[10][12] The custom house moved to 55 Wall Street starting in August 1862.[57][58]
The agency's departments were relocated one at a time; the relocation was completed by
December 1862.[59][60] Clerks were situated in the central rotunda under the dome, while
cashiers and auditors worked in the corner offices.[60] The proximity of 55 Wall Street to the
Subtreasury—now at 26 Wall Street—was particularly beneficial, since the custom house had
to make payments in gold.[12] The federal government bought 55 Wall Street outright in 1865.
[57]
The building also housed other tenants, including the American Bank Note Company, who
operated a currency printing plant in the penthouse between 1862 and 1867.[61][62]

In February 1888, William J. Fryer Jr., superintendent of repairs of New York City's federal-
government buildings, wrote to the United States Department of the Treasury's Supervising
Architect about the "old, damp, ill-lighted, badly ventilated" quarters at 55 Wall Street.[12][63]
Architecture and Building magazine called the letter "worthy of thoughtful investigation".[64]
This led to an act of Congress which authorized the selection of a site for a new custom house
and appraiser's warehouse.[65] Soon after, Fryer presented his report to the New York State
Chamber of Commerce.[63] 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."[66] 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.[12][67]

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.[68] No progress
was made until 1897,[69] when Cass Gilbert was selected to design a new U.S. Custom House
at 1 Bowling Green.[70] James Stillman, president of National City Bank (predecessor bank of
Citibank), subsequently arranged for his company to buy 55 Wall Street for its headquarters.
The bank, which was among the United States' largest at the time, occupied a dilapidated
space at 52 Wall Street, directly across the street to the north.[17][71][72] The building was sold to
City Bank on July 4, 1899, for $3.265 million.[73][74][75] The arrangement had been facilitated
by Stillman's friendships with President William McKinley and U.S. Treasury Secretary
Lyman Gage.[9]
National City Bank

Conversion

The upper five stories were added as part of the 1907–1910 renovation.

The U.S. Customs Service remained in the building for eight years after the sale.[76]
Democrats in the House of Representatives criticized the transaction, saying Congress's
decision to provide rent appropriations to the Customs Service was an "extravagant" use of
money.[77] In a vote in 1905, the House blocked an appropriation that would have paid the
Customs Service's rent to City Bank.[78] House Republicans eventually approved the rent
appropriation for the building in June 1906.[79]

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.[80] As a result, the New York
City government sued City Bank for non-payment of taxes in January 1906.[81][82]
Representatives of the bank said that because it had not taken title to the building, the bank
should not have to pay property taxes.[83] The Customs Service moved its offices to Bowling
Green on November 4, 1907.[76] Four days afterward, City Bank finally acquired title to the
building.[84][85]

Stillman, wishing to expand the building, had hired McKim, Mead & White in 1904.[18][24][25]
Stanford White 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, and
Stillman sent a City Bank vice president to Italy to study the Pantheon's architecture.[17][24]
Until early 1907, it was unclear whether City Bank would construct a new 18-to-20-story
structure or expand the existing building, so the firm was asked to prepare two sets of plans.
[86]
After the Customs Service moved to Bowling Green, the bank decided to expand the
building.[19][87] The renovation included replacing the fourth floor, adding four more floors,
and completely destroying and rebuilding the interior.[17][12][25][34] The upper stories were
constructed from 1908 to 1910,[18][27] though some of the interior spaces were not completed
until 1914.[27] National City Bank moved to 55 Wall Street on December 19, 1908.[88][89]
Messengers carried the bank's $500 million holdings from the old office across the street in
leather satchels containing at least $10,000 each.[34][36] Several days later, the building opened
to the public.[36]

Usage

Upon the completion of the renovation, National City Bank's law firm Shearman & Sterling
had offices on the upper stories.[21][30] According to Forbes 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."[90] A balcony was constructed in
1925 on the south side of the main banking room.[31] National City Bank and the Farmers'
Loan and Trust Company merged in 1929, with the latter becoming the City Bank Farmers
Trust Company.[91] Two years later, City Bank Farmers Trust erected 20 Exchange Place
immediately to the south to house the operations of the expanded bank.[92][93][94] First National
Bank also moved to 55 Wall Street from its former location at 2 Wall Street, at the corner
with Broadway, after the New York City Department of Buildings had deemed 2 Wall Street
to be unsafe.[95] The two buildings collectively served as National City Bank's global
headquarters and were connected by a now-demolished pedestrian bridge over Exchange
Place.[92][94]

National City Bank merged with the First National Bank in 1955, becoming First National
City Bank.[96] During the same period, the main banking room at 55 Wall Street underwent a
multi-year restoration that finished in 1958.[24][97] The two-story safe-deposit vault was moved
to the basement between September and November 1957.[23] Shortly afterward, in March
1958, City Bank Farmers Trust took over the construction of a skyscraper on 399 Park
Avenue, which the Astor family had previously been in the process of developing. The new
structure was to contain most of the operations of First National City Bank.[97] In 1961, First
National City Bank and City Bank Farmers Trust moved to the newly completed 399 Park
Avenue.[98] Four years later, the New York City Landmarks Preservation Commission (LPC)
designated 55 Wall Street's exterior as one of the city's earliest official landmarks.[99]

Through the late 20th century, 55 Wall Street continued as a full-service retail branch called
Branch #001. It also remained a substantial location for private banking operations.[20] 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.[31][100] The developer George Klein bought 363,000 square feet
(33,700 m2) of the unused air rights on 55 Wall Street's site in 1983 as part of the construction
of the adjacent 60 Wall Street;[101][e] the LPC supported this move.[103] Shearman & Sterling
moved out of 55 Wall Street in 1987. The same year, developers Jeffrey Gural, Barry Gosin,
and Philip Pilevsky bought 55 Wall Street for $49 million.[30] Milgrim Thomajan & Lee, a
large law firm based in Midtown Manhattan, leased 120,000 square feet (11,000 m2),
becoming one of the building's major tenants in the 1980s and early 1990s.[20]

Later use

1990s proposals
Lower colonnade (2013)

Gural, Gosin, and Pilevsky spent over $20 million to renovate the building.[30] While the
renovation was ongoing, the building's chief engineer won a $3 million lottery jackpot and
resigned.[39] The group sold 55 Wall Street in 1990 to a group of private Japanese investors
for $69 million.[30] The buyer was later identified as Tokyo-based builders Kajima.[39]
Citibank closed its branch bank in 1992,[25][29] and Migrim Thomajan & Lee went bankrupt.[20]
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 and the mutual funds company PNC Inc., as well as
in films such as Batman Forever and Die Hard with a Vengeance.[20] 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.[20] Even so, several firms had shown interest in leasing the office space, despite the
lack of potential tenants for the rotunda.[20]

Real estate developer Donald Trump made an offer 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 space in Lower Manhattan had reduced
property values in the area.[104] Trump ultimately decided not to buy 55 Wall Street, and one
of Credit Suisse First Boston'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.[105]

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., businessman Sidney Kimmel, and Hotel Jerome operator T. Richard
Butera for $27 million. By that point, there was high demand for luxury hotels in Lower
Manhattan.[106] Starting the next year, building was completely renovated into a luxury hotel.
[29]
The banking room became a ballroom and luxury restaurant space called Cipriani Wall
Street.[107][108] Midway through the renovation, Cipriani was replaced with Regent Hotels &
Resorts as the prospective operator of the hotel.[109] Kimmel also bought out Cipriani's share
of the management contract for 55 Wall Street.[110] The Regent Wall Street Hotel opened in
2000 with 144 guest rooms, a restaurant, and a fitness center.[111] After the September 11
attacks destroyed the nearby World Trade Center in 2001, 55 Wall Street served as a relief
center for workers and area residents[112] and was used by Tribeca Film Festival attendees.[113]
The hotel's overall business declined, leading to its closure in 2003.[112]

Cipriani and developer Steve Witkoff formed a partnership in 2004, converting the defunct
hotel rooms into a residential condominium development called the Cipriani Club
Residences.[37] Louise Sunshine was hired to sell the apartments through her company
Sunshine Group,[114] and tenants began buying apartments in November 2005.[115] Two early
residents, actor Mickey Rourke and supermodel Naomi Campbell, appeared in
advertisements for the Cipriani Club Residences in exchange for discounts on the building's
condominiums.[37][116] Sunshine Group had sold 37 of the 106 condominiums by February
2006,[117] when Witkoff hired a new leasing agent, Douglas Elliman.[117][118] The buyers of the
remaining condominiums included financiers,[119] two friends of the Duchess of York,[120] and
soccer captain Claudio Reyna.[121] 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.
[38]
The main banking floor remained in use as the Cipriani Wall Street event venue, which
hosted the Peabody Awards from 2015 to 2019.[122] In May 2020, amid a loss of income
during the COVID-19 pandemic in New York City, Cipriani defaulted on a mortgage loan
that had been placed on its event venues at 110 East 42nd Street and 55 Wall Street. A special
servicer took over the mortgage in 2021, but the two event venues were at risk of foreclosure
by the end of that year.[123][124] By June 2022, King Street Capital Management was
considering giving Cipriani $150 million to refinance the debt on 110 East 42nd Street and 55
Wall Street.[125][126]

Reception and landmark designations

According to Stillman, the City Bank president, 55 Wall Street's 1900s expansion was meant
to be an "outward and visible sign of power and combination".[25][127] One writer characterized
the design as "a temple of finance" that was "one of the most opulent banking houses in the
United States",[17] and The New York Times dubbed it a "temple of capitalism".[25][29]
Architectural criticism was mixed. 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. The author Peter James Hudson writes that other critics
"viewed the renovation as an aesthetic aberration", especially with regards to the
juxtaposition of the colonnades.[36] The interior was critically acclaimed: the fourth edition of
the AIA Guide to New York City called the interior a "facility unequaled in America",[128] and
the converted banking hall was described as among the world's "most elegant ballrooms".[129]

The New York City Landmarks Preservation Commission designated the building's exterior
as a landmark on December 21, 1965.[3][99][130] Subsequently, 55 Wall Street was listed on the
National Register of Historic Places in 1972,[1] and it was also designated a National Historic
Landmark in 1978.[5] The LPC designated the banking floor's interior as a city landmark on
January 12, 1999.[4] Additionally, in 2007, the building was designated as a contributing
property to the Wall Street Historic District,[131] a NRHP district.[132]

See also

 Architecture portal
 New York City portal
 NRHP portal

 List of New York City Designated Landmarks in Manhattan below 14th Street
 List of National Historic Landmarks in New York City
 National Register of Historic Places listings in Manhattan below 14th Street

References
Notes

1.
 Some sources give a completion date of 1841, [10][11] while others cite a date of 1842. [12][13]
  Some sources cite the dome as being 72 feet (22 m) tall[30] or 70 feet (21 m) tall.[22]

  The New York Times in 1908 described the safe as weighing 300 short tons (270 long tons;
270 t).[34] The same newspaper in 1957 described it as weighing 700 short tons (620 long tons; 640 t),
probably adjusted for the weight of its contents. [23] The New York City Landmarks Preservation
Commission says only that the safe was moved in the "late 1950s". [31]

  Reynolds 1994, p. 96, cites the Hamilton statue as having been installed on March 28, 1835.

5.  New York City zoning sets a maximum floor area for each land lot, after which developers
must buy air rights to increase their floor area. Owners of buildings that contain less than
their maximum floor area can sell air rights to developers who own adjacent sites. [102]

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  National Park Service 1978, p. 2.

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 This page was last edited on 11 September 2022, at 03:23 (UTC).

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