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101-684: 150 Nassau Street , also known as the Park Place Tower and the American Tract Society Building , is a 23-story, 291-foot (89 m) building in the Financial District of Lower Manhattan in New York City . It is located at the southeast corner of Spruce Street and Nassau Street , next to 8 Spruce Street , the former New York Times Building , and New York City Hall . 150 Nassau Street

202-612: A Con Edison plant. With mass transit in New York City already suspended as a precaution even before the storm hit, the New York Stock Exchange and other financial exchanges were closed for two days, re-opening on October 31. From 2013 to 2021, nearly two hundred buildings in the Financial District were converted to residential use. Furthermore, between 2001 and 2021, the proportion of companies in

303-601: A powerful bomb exploded . It killed 38 and seriously injured 143 people. The area was subjected to numerous threats; one bomb threat in 1921 led to detectives sealing off the area to "prevent a repetition of the Wall Street bomb explosion". During most of the 20th century, the Financial District was a business community with practically only offices which emptied out at night. Writing in The Death and Life of Great American Cities in 1961, urbanist Jane Jacobs described

404-581: A "deathlike stillness that settles on the district after 5:30 and all day Saturday and Sunday". But there has been a change towards greater residential use of the area, pushed forwards by technological changes and shifting market conditions. The general pattern is for several hundred thousand workers to commute into the area during the day, sometimes by sharing a taxicab from other parts of the city as well as from New Jersey and Long Island , and then leave at night. In 1970 only 833 people lived "south of Chambers Street"; by 1990, 13,782 people were residents with

505-546: A cab dropped from the 10th floor to the basement, injuring three people. ATS replaced the Otis elevators with Crane elevators in early 1897. Despite this, in September 1897, another elevator dropped 19 floors, killing the two occupants. The coroner's jury did not find anyone culpable in the 1897 incident, but highlighted a need for a "competent" elevator maintenance engineer. The elevator accidents, which were covered intensively by

606-479: A downturn with a sizable drop in year-end bonuses of $ 6.5 billion, according to one estimate from a state comptroller's office. To guard against a vehicular bombing in the area, authorities built concrete barriers, and found ways over time to make them more aesthetically appealing by spending $ 5000 to $ 8000 apiece on bollards . Several streets in the neighborhood, including Wall and Broad Streets, were blocked off by specially designed bollards: Rogers Marvel designed

707-424: A fifth of buildings and warehouses were empty, and many were converted to living areas. Some conversions met with problems, such as aging gargoyles on building exteriors having to be expensively restored to meet with current building codes. Residents in the area have sought to have a supermarket, a movie theater, a pharmacy, more schools, and a "good diner". The discount retailer named Job Lot used to be located at

808-457: A lawsuit to foreclose on the building's $ 1.25 million mortgage. In 1916, a New York Supreme Court judge appointed a referee to oversee the foreclosure, and New York Life took over the building. The building was damaged the same year by a fire at a nearby low-rise building on Beekman Street. The Sun moved to 280 Broadway during 1919, the same year that 150 Nassau was sold to the 150 Nassau Street Corporation. Tenants during this time included

909-744: A lower crime rate than in the 1990s, with crimes across all categories having decreased by 86.3% between 1990 and 2018. The precinct reported 1 murder, 23 rapes, 80 robberies, 61 felony assaults, 85 burglaries, 1,085 grand larcenies, and 21 grand larcenies auto in 2018. The Financial District is served by three New York City Fire Department (FDNY) fire stations: As of 2018 , preterm births and births to teenage mothers are less common in Financial District and Lower Manhattan than in other places citywide. In Financial District and Lower Manhattan, there were 77 preterm births per 1,000 live births (compared to 87 per 1,000 citywide), and 2.2 teenage births per 1,000 live births (compared to 19.3 per 1,000 citywide), though

1010-519: A museum visit and discussion of various financiers "who were adept at finding ways around finance laws or loopholes through them". Occasionally artists make impromptu performances; for example, in 2010, a troupe of 22 dancers "contort their bodies and cram themselves into the nooks and crannies of the Financial District in Bodies in Urban Spaces " choreographed by Willi Donner. One chief attraction,

1111-473: A neighborhood, a community." During the past two decades there has been a shift towards greater residential living areas in the Financial District, with incentives from city authorities in some instances. Many empty office buildings have been converted to lofts and apartments; for example, the Liberty Tower , the office building of oil magnate Harry Sinclair , was converted to a co-op in 1979. In 1996,

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1212-697: A new speculative skyscraper on its current land, calling the site "a safe and remunerative investment". During the late 19th century, the surrounding area had grown into the "Newspaper Row", as several newspaper headquarters had been built on the adjacent Park Row , including the New York Times Building , the Potter Building , the Park Row Building , and the New York World Building . Meanwhile, printing

1313-566: A new kind of bollard, a faceted piece of sculpture whose broad, slanting surfaces offer people a place to sit in contrast to the typical bollard, which is supremely unsittable. The bollard, which is called the Nogo, looks a bit like one of Frank Gehry's unorthodox culture palaces, but it is hardly insensitive to its surroundings. Its bronze surfaces actually echo the grand doorways of Wall Street's temples of commerce. Pedestrians easily slip through groups of them as they make their way onto Wall Street from

1414-443: A profile view. Sailor : Units are laid vertically on their shortest ends with their widest edge facing the wall surface. The result is a row of bricks that looks similar to sailors manning the rail . Shiner or rowlock stretcher : Units are laid on the long narrow side with the broad face of the brick exposed. Different patterns can be used in different parts of a building, some decorative and some structural; this depends on

1515-683: A profit during ATS's occupancy, and the New York Life Insurance Company foreclosed on the building in 1914. After ATS moved out, the New York Sun occupied the building from 1914 to 1919. The building's 10th through 23rd floors were converted into condominiums between 1999 and 2002. In 1999, it was designated as a city landmark by the New York City Landmarks Preservation Commission . The American Tract Society Building

1616-566: A provincial extension of the Dutch Republic and was designated as the capital of the province of New Netherland in 1625. By 1655, the population of New Netherland had grown to 2,000 people, with 1,500 living in New Amsterdam. By 1664, the population of New Netherland had skyrocketed to almost 9,000 people, 2,500 of whom lived in New Amsterdam, 1,000 lived near Fort Orange , and the remainder in other towns and villages. In 1664

1717-653: A second estimate (based on the 2000 census based on a different map) places the residential population in 2000 at 12,042. By 2001 there were several grocery stores, dry cleaners, and two grade schools and a top high school. In 2001, the Big Board , as some termed the NYSE, was described as the world's "largest and most prestigious stock market". When the World Trade Center was destroyed on September 11, 2001 , it left an architectural void as new developments since

1818-599: A semicircular space in the northwest corner of the building. Of these, two were originally "express elevators" running non-stop to the upper floors. The building's only fire staircase is located on the opposite side of the semicircular elevator lobbies on each floor. Upon the building's completion, the ATS described the new facilities as "convenient or necessary for an office of the highest standard". These included radiators under every window, as well as steam, electric and gas services. Two storefronts were located at ground level and there

1919-708: A visual landmark for drivers and pedestrians. In some respects, the nexus of the Financial District moved physically from Wall Street to the World Trade Center complex and surrounding buildings such as the Deutsche Bank Building , 90 West Street , and One Liberty Plaza . Real estate growth during the latter part of the 1990s was significant, with deals and new projects happening in the Financial District and elsewhere in Manhattan; one firm invested more than $ 24 billion in various projects, many in

2020-449: A wall. String course (Belt course or Band course) : A decorative horizontal row of masonry, narrower than the other courses, that extends across the façade of a structure or wraps around decorative elements like columns. Sill course : Stone masonry courses at the windowsill, projected out from the wall. Split course : Units are cut down so they are smaller than their normal thickness. Springing course : Stone masonry on which

2121-525: Is NewYork-Presbyterian Lower Manhattan Hospital in the Civic Center area. Band course Coursed masonry construction arranges units in regular courses. Oppositely, coursed rubble masonry construction uses random uncut units, infilled with mortar or smaller stones. If a course is the horizontal arrangement, then a wythe is a continuous vertical section of masonry one unit in thickness. A wythe may be independent of, or interlocked with,

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2222-406: Is 0.0096 mg/m (9.6 × 10  oz/cu ft), more than the city average. Sixteen percent of Financial District and Lower Manhattan residents are smokers , which is more than the city average of 14% of residents being smokers. In Financial District and Lower Manhattan, 4% of residents are obese , 3% are diabetic , and 15% have high blood pressure , the lowest rates in the city—compared to

2323-584: Is a major location of tourism in New York City . One report described Lower Manhattan as "swarming with camera-carrying tourists". Tour guides highlight places such as Trinity Church , the Federal Reserve Bank of New York Building gold vaults 80 feet below street level (worth $ 100 billion), and the New York Stock Exchange Building . A Scoundrels of Wall Street Tour is a walking historical tour which includes

2424-570: Is also a contributing property to the Fulton–Nassau Historic District , a National Register of Historic Places district created in 2005. 150 Nassau Street is located in the Financial District of Manhattan , just east of New York City Hall and the Civic Center . The building is located on a parallelogram-shaped plot that abuts Nassau Street to the west for 100 feet 7 inches (30.66 m) and Spruce Street to

2525-642: Is bounded by the West Side Highway on the west, Chambers Street and City Hall Park on the north, Brooklyn Bridge on the northeast, the East River to the southeast, and South Ferry and the Battery on the south. The City of New York was created in the modern-day Financial District in 1624, and the neighborhood roughly overlaps with the boundaries of the New Amsterdam settlement in

2626-468: Is generally rooted in the Gilded Age , though there are also some art deco influences in the neighborhood. The area is distinguished by narrow streets, a steep topography, and high-rises Construction in such narrow steep areas has resulted in occasional accidents such as a crane collapse. One report divided lower Manhattan into three basic districts: Federal Hall National Memorial , on the site of

2727-691: Is now a 1,776 ft (541 m) tall structure, opened in 2014 as the One World Trade Center . Fulton Center , a new transit complex intended to improve access to the area, opened in 2014, followed by the World Trade Center Transportation Hub in 2016. Additionally, in 2007, the Maharishi Global Financial Capital of New York opened headquarters at 70 Broad Street near the NYSE, in an effort to seek investors. By

2828-625: Is patrolled by the 1st Precinct of the New York City Police Department . The Financial District encompasses roughly the area south of City Hall Park in Lower Manhattan but excludes Battery Park and Battery Park City . The former World Trade Center complex was located in the neighborhood until the September 11, 2001, attacks ; the neighborhood includes the successor One World Trade Center . The heart of

2929-938: Is the locus for a large amount of technology and data. For example, to accommodate the three thousand persons who work directly on the Exchange floor requires 3,500 kilowatts of electricity, along with 8,000 phone circuits on the trading floor alone, and 200 miles of fiber-optic cable below ground. Buildings in the Financial District can have one of several types of official landmark designations: The following landmarks are situated south of Morris Street and west of Whitehall Street/Broadway: The following landmarks are located west of Broadway between Morris and Barclay Streets: The following landmarks are located south of Wall Street and east of Broadway/Whitehall Street: The following landmarks are located east of Broadway between Wall Street and Maiden Lane: The following landmarks are located east of Broadway and Park Row between Maiden Lane and

3030-576: Is the world's largest stock exchange by total market capitalization . Several other major exchanges have or had headquarters in the Financial District, including the New York Mercantile Exchange , NASDAQ , the New York Board of Trade , and the former American Stock Exchange . The Financial District is part of Manhattan Community District 1 , and its primary ZIP Codes are 10004, 10005, 10006, 10007, and 10038. It

3131-456: Is well-suited for tall buildings, with a solid mass of bedrock underneath Manhattan providing a firm foundation for tall buildings. Skyscrapers are expensive to build, but the scarcity of land in the Financial District made it suitable for the construction of skyscrapers. Business writer John Brooks in his book Once in Golconda considered the start of the 20th century period to have been

150 Nassau Street - Misplaced Pages Continue

3232-484: The Romanesque style . The building is 291 feet (89 m) tall with 23 stories. 150 Nassau Street was one of New York City's first skyscrapers to employ a steel skeletal frame. It is designed with elements of Romanesque Revival and Renaissance Revival architecture . Much of the building is 20 stories high, except for its northwestern corner, which contains a small three-story tower with a pitched roof . The top of

3333-579: The Woodrow Wilson Foundation , founded in 1921. 150 Nassau Street Corporation defaulted on the building's mortgage in 1936, and New York Life took back the building. New York Life retained ownership of 150 Nassau until January 1945, when David S. Meister bought the building. Meister then resold the property in November 1946 to a group of investors represented by Ralph Freidus. The New York World and Tribune buildings immediately to

3434-411: The 1970s had played off the complex aesthetically. The attacks "crippled" the communications network. One estimate was that 45% of the neighborhood's "best office space" had been lost. The physical destruction was immense: Debris littered some streets of the financial district. National Guard members in camouflage uniforms manned checkpoints. Abandoned coffee carts, glazed with dust from the collapse of

3535-478: The 20,088 counted in 2000 . Covering an area of 479.77 acres (194.16 ha), the neighborhood had a population density of 82.7/acre (52,900/sq mi; 20,400/km ). The racial makeup of the neighborhood was 65.4% (25,965) White , 3.2% (1,288) African American , 0.1% (35) Native American , 20.2% (8,016) Asian , 0.0% (17) Pacific Islander , 0.4% (153) from other races , and 3.0% (1,170) from two or more races. Hispanic or Latino of any race were 7.7% (3,055) of

3636-561: The 2010s, the Financial District had become established as a residential and commercial neighborhood. Several new skyscrapers such as 125 Greenwich Street and 130 William were being developed, while other structures such as 1 Wall Street , the Equitable Building , and the Woolworth Building were extensively renovated. Additionally, there were more signs of dogwalkers at night and a 24-hour neighborhood, although

3737-538: The 23rd floor contains a pitched roof with dormers . The southern and eastern facades are made of self-supporting brick below the 13th floor and are supported by lattice girders above that point. These facades mostly lack ornament. The lower five stories of the eastern facade served as a party wall to a now-demolished building on Spruce Street. Terracotta, possibly created by the New York Architectural Terra-Cotta Company ,

3838-536: The 23rd story was to be used as condominiums. The American Tract Society, or ATS, was established in 1825 as a nonprofit, nonsectarian but evangelical organization. It was the first organization in the U.S. formed specifically to give out religious tracts . ATS bought land in 1825 at the southwest corner of Nassau and Spruce Streets, completing its four-story Tract House the next year. The house's addresses were subsequently changed to 144 Nassau Street in 1827, and then to 150 Nassau Street in 1833. A five-story Tract House

3939-684: The American Indian , Trinity Church , St. Paul's Chapel , and the famous bull . Bowling Green is the starting point of traditional ticker-tape parades on Broadway , where here it is also known as the Canyon of Heroes . The Museum of Jewish Heritage and the Skyscraper Museum are both in adjacent Battery Park City which is also home to the Brookfield Place (formerly World Financial Center). Another key anchor for

4040-418: The Battery. The Bowling Green area was described as "Wall Street's back yard " with poor people, high infant mortality rates, and the "worst housing conditions in the city". As a result of the construction, looking at New York City from the east, one can see two distinct clumps of tall buildings—the Financial District on the left, and the taller Midtown neighborhood on the right. The geology of Manhattan

4141-610: The Brooklyn Bridge: The following landmarks apply to multiple distinct areas: What is now the Financial District was once part of New Amsterdam , situated on the strategic southern tip of the island of Manhattan. New Amsterdam was derived from Fort Amsterdam , meant to defend the fur trade operations of the Dutch West India Company in the North River ( Hudson River ). In 1624, it became

150 Nassau Street - Misplaced Pages Continue

4242-652: The English took over New Amsterdam and renamed it New York City. In the late 19th and early 20th centuries, the corporate culture of New York was a primary center for the construction of early skyscrapers , and was rivaled only by Chicago on the American continent. There were also residential sections, such as the Bowling Green section between Broadway and the Hudson River , and between Vesey Street and

4343-599: The Federal Reserve, paid $ 750,000 to open a visitors' gallery in 1997. The New York Stock Exchange and the American Stock Exchange also spent money in the late 1990s to upgrade facilities for visitors. Attractions include the gold vault beneath the Federal Reserve and that "staring down at the trading floor was as exciting as going to the Statue of Liberty ". The Financial District's architecture

4444-513: The Financial District is often considered to be the corner of Wall Street and Broad Street , both of which are contained entirely within the district. The northeastern part of the Financial District (along Fulton Street and John Street) was known in the early 20th century as the Insurance District, due to the large number of insurance companies that were either headquartered there, or maintained their New York offices there. Although

4545-519: The Financial District to more affordable locations. The recession of 1990–91 was marked by office vacancy rates downtown which were "persistently high" and with some buildings "standing empty". In 1995, city authorities offered the Lower Manhattan Revitalization Plan which offered incentives to convert commercial properties to residential use. According to one description in 1996, "The area dies at night ... It needs

4646-475: The I-beams under the remaining floors are 15 inches (380 mm) thick. Box girders are also located under the 6th, 10th, 14th, and 18th floors, and plate girders are under the 19th floor. The floors themselves are made of flat brick arches 12 inches (300 mm) deep. The columns were wrapped with 4 inches (100 mm) of brick to provide fireproofing. 150 Nassau Street features six elevators arranged around

4747-517: The Morse Building, were underpinned while the foundation was being built. The columns are generally spaced 18 to 19 feet (5.5 to 5.8 m) apart. 150 Nassau Street uses some 2,665 short tons (2,379 long tons; 2,418 t) of metal. Generally, each floor is supported by pairings of I-beams , with each pairing spaced about 6.3 feet (1.9 m) apart. The I-beams under the basement through third floors are 12 inches (300 mm) thick, while

4848-640: The Wall Street area. In 1998, the NYSE and the city struck a $ 900 million deal which kept the NYSE from moving across the river to Jersey City ; the deal was described as the "largest in city history to prevent a corporation from leaving town". A competitor to the NYSE, NASDAQ , moved its headquarters from Washington to New York. In 1987, the stock market plunged and, in the relatively brief recession following, lower Manhattan lost 100,000 jobs according to one estimate. Since telecommunications costs were coming down, banks and brokerage firms could move away from

4949-420: The World Trade Center but moved to Church Street; merchants bought extra unsold items at steep prices and sold them as a discount to consumers, and shoppers included "thrifty homemakers and browsing retirees" who "rubbed elbows with City Hall workers and Wall Street executives"; but the firm went bust in 1993. There were reports that the number of residents increased by 60% during the 1990s to about 25,000 although

5050-402: The World Trade Center, lay on their sides across sidewalks. Most subway stations were closed, most lights were still off, most telephones did not work, and only a handful of people walked in the narrow canyons of Wall Street yesterday morning. Still, the NYSE was determined to re-open on September 17, almost a week after the attack. After September 11, the financial services industry went through

5151-531: The addition of areas such as Battery Park City and Southbridge Towers . Battery Park City was built on 92 acres of landfill, and 3,000 people moved there beginning about 1982, but by 1986 there was evidence of more shops and stores and a park, along with plans for more residential development. Construction of the World Trade Center began in 1966, but the World Trade Center had trouble attracting tenants when completed. Nonetheless, some substantial firms purchased space there. Its impressive height helped make it

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5252-483: The adjoining wythe(s). A single wythe of brick that is not structural in nature is referred to as a masonry veneer . A standard 8-inch CMU block is exactly equal to three courses of brick. A bond (or bonding) pattern) is the arrangement of several courses of brickwork . The corners of a masonry wall are built first, then the spaces between them are filled by the remaining courses. Masonry coursing can be arranged in various orientations, according to which side of

5353-646: The ages of 25–44, while 14% are between 0–17, and 18% between 45–64. The ratio of college-aged and elderly residents was lower, at 11% and 7% respectively. As of 2017, the median household income in Community Districts 1 and 2 (including Greenwich Village and SoHo ) was $ 144,878. In 2018, an estimated 9% of Financial District and Lower Manhattan residents lived in poverty, compared to 14% in all of Manhattan and 20% in all of New York City. One in twenty-five residents (4%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or

5454-406: The area around historic Trinity Church. Cars, however, cannot pass. The destruction of the World Trade Center spurred development on a scale that had not been seen in decades. Tax incentives provided by federal, state and local governments encouraged development. A new World Trade Center complex centered on Daniel Libeskind 's Memory Foundations was after the 9/11 attacks. The centerpiece, which

5555-478: The area is the New York Stock Exchange . City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at the corner of Wall and Broad streets", and in 1998 offered substantial tax incentives to try to keep it in the Financial District. Plans to rebuild it were delayed by the September 11, 2001, attacks. The Exchange still occupies the same site. The Exchange

5656-420: The area that were in the finance and insurance industries declined from 55 to 30 percent. For census purposes, the New York City government classifies the Financial District as part of a larger neighborhood tabulation area called Battery Park City-Lower Manhattan. Based on data from the 2010 United States Census , the population of Battery Park City-Lower Manhattan was 39,699, an increase of 19,611 (97.6%) from

5757-663: The area were laid out as part of the Castello Plan prior to the Commissioners' Plan of 1811 , a grid plan that dictates the placement of most of Manhattan's streets north of Houston Street . Thus, it has small streets "barely wide enough for a single lane of traffic are bordered on both sides by some of the tallest buildings in the city", according to one description, which creates "breathtaking artificial canyons". Some streets have been designated as pedestrian-only with vehicular traffic prohibited. The Financial District

5858-466: The area's heyday. The address of 23 Wall Street , the headquarters of J. P. Morgan & Company , known as The Corner , was "the precise center, geographical as well as metaphorical, of financial America and even of the financial world". On September 16, 1920, close to the corner of Wall and Broad Street , the busiest corner of the Financial District and across the offices of the Morgan Bank ,

5959-447: The bond patterns. Stretcher course (Stretching course) : This is a course made up of a row of stretchers. This is the simplest arrangement of masonry units. If the wall is two wythes thick, one header is used to bind the two wythes together. Header course : This is a course made up of a row of headers. Bond course : This is a course of headers that bond the facing masonry to the backing masonry. Plinth : The bottom course of

6060-422: The building". The Landmarks Preservation Commission wrote that the building was architecturally notable as the result of a "contemporary search for an appropriate solution for the architectural expression for a skyscraper". Financial District, Manhattan The Financial District of Lower Manhattan , also known as FiDi , is a neighborhood located on the southern tip of Manhattan in New York City . It

6161-486: The building's box girders on the upper floors. The basement on the Spruce Street side is visible due to the downward slope of the lot from west to east. On the lowest two floors of both principal facades, each bay contains an arched window. On each of the third through 20th floors, there are two sash windows in each bay. The 6th, 10th, 14th, and 18th floors are framed by cornices on their tops and bottoms, and divide

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6262-529: The building, said that "detractors object[ed] to the breaking up of the street elevations into six horizontal divisions and to the considerable diversity of treatment from top to bottom", but that the layers were typical of Robertson's designs. Montgomery Schuyler praised the design of the building's top, but was critical of the facade's six-part horizontal division, saying that it was "arbitrary" and failed to "correspond to any actual requirement, mechanical or aesthetic". The building also received praise because of

6363-484: The building. The restaurant moved to 150 Nassau Street anyway, but closed permanently in 2018. Lower Manhattan's late-19th century skyscrapers generally received mixed reception. Negative criticism focused mainly on the layered design of the facade. A writer for the Architectural Record said that 150 Nassau Street had a "repetition of motif". Sarah Landau , summarizing critics' general sentiments toward

6464-424: The center bay on Nassau Street, consists of a double-height archway supported by two pairs of columns, one on each side. Underneath the arch is an elaborate entablature and a semicircular transom . The windows are mostly sash windows . The principal facades are the northern and western facades, which are made of self-supporting masonry on the ground through fifth floors, and brick and terracotta supported by

6565-421: The city. By 2010 the residential population had increased to 24,400 residents. and the area was growing with luxury high-end apartments and upscale retailers. On October 29, 2012, New York and New Jersey were inundated by Hurricane Sandy . Its 14-foot-high storm surge, a local record, caused massive street flooding in many parts of Lower Manhattan. Power to the area was knocked out by a transformer explosion at

6666-538: The citywide averages of 24%, 11%, and 28% respectively. In addition, 5% of children are obese, the lowest rate in the city, compared to the citywide average of 20%. Ninety-six percent of residents eat some fruits and vegetables every day, which is more than the city's average of 87%. In 2018, 88% of residents described their health as "good", "very good", or "excellent", more than the city's average of 78%. For every supermarket in Financial District and Lower Manhattan, there are 6 bodegas . The nearest major hospital

6767-472: The facade's layering, rather than in spite of it. An Engineering News article stated that, as a result of the inclusion of details such as belt courses, "the general treatment of the building by its designer is very good and the appearance is quite pleasing". Robertson himself found skyscrapers to be "uninteresting architecturally", but that despite the many restrictions that he felt to be a hindrance to skyscraper design, "something monumental could be made out of

6868-429: The facades of many 19th-century early skyscrapers consisted of three horizontal sections similar to the components of a column , namely a base, midsection, and capital . 150 Nassau Street contains six horizontal layers, divided by band courses and cornices : of these, two are in the base, three in the midsection, and one at the capital. Both principal facades contain five vertical bays . The main entrance, located in

6969-767: The first U.S. capitol and the first inauguration of George Washington as the first President of the United States , is located at the corner of Wall Street and Nassau Street . The Financial District has a number of tourist attractions such as the South Street Seaport Historic District, newly renovated Pier 17, the New York City Police Museum , the Museum of American Finance , the National Museum of

7070-474: The general pattern of crowds during the working hours and emptiness at night was still apparent. There were also ten hotels and thirteen museums in 2010. In 2007 the French fashion retailer Hermès opened a store in the Financial District to sell items such as a "$ 4,700 custom-made leather dressage saddle or a $ 47,000 limited edition alligator briefcase". However, there are reports of panhandlers like elsewhere in

7171-550: The ground. Each piling was made of spruce tree trunks between 20 and 25 feet (6.1 and 7.6 m) long and 10 to 14 inches (250 to 360 mm) wide. Atop each piling was granite blocks, then vertical brick piers, and finally cast-iron footings for the building's columns. Along portions of the south and west walls, the builders could not install pilings to provide foundations for the columns. These columns were instead supported by cantilevers made of trusses ; six pairs of cantilevers were used. Several neighboring buildings, including

7272-418: The late 17th century. The district comprises the offices and headquarters of many of the city's major financial institutions , including the New York Stock Exchange and the Federal Reserve Bank of New York . Anchored on Wall Street in the Financial District, New York City has been called both the leading financial center and the most economically powerful city of the world, and the New York Stock Exchange

7373-539: The lowest nine floors contain 80 corporate offices. The 10th through 23rd floors contain 45 luxury condominiums , most of which are two- or three-bedroom units. The top three floors contain a penthouse unit with 6,400 square feet (590 m) of space, an outdoor deck, a private terrace on the roof, and ceilings 18 feet (5.5 m) tall. The penthouse, dubbed the "Skyhouse", was designed by David Hotson and Ghislaine Viñas, and includes features such as geometrical designs and an 80-foot (24 m) slide. As originally planned,

7474-440: The main roof is 261 feet (80 m) tall, but the top of the pitched roof is 291 feet (89 m). The floors above the first story are U-shaped, with a small light court facing south. Two water towers were located above the main roof, but were removed. The Nassau Street side consists of a three-story arcade, meant to complement 41 Park Row to the west, with an open-air top story. At the time of 150 Nassau Street's construction,

7575-489: The masonry unit is facing the outside and how it is positioned. Stretcher : Units are laid horizontally with their longest end parallel to the face of the wall. This orientation can display the bedding of a masonry stone. Header : Units are laid on their widest edge so that their shorter ends face the outside of the wall. They overlap four stretchers (two below and two above) and tie them together. Rowlock : Units laid on their narrowest edge so their shortest edge faces

7676-451: The media, were among the reasons why tenants were reluctant to rent space in the building. By 1900, 150 Nassau Street had over 3,000 employees. In subsequent years, 150 Nassau Street was occupied by ATS's publishing and administrative offices, as well as several "tenants of questionable character", which in turn led to accusations of mismanagement. ATS defaulted on the mortgage in 1913, and after unsuccessfully attempting to raise funds, gave

7777-468: The midsection into three distinct horizontal segments. The 19th through 23rd floors form a "capital"; the 19th and 20th floors cover the entire lot area and are similar in design to the lower floors, but the 21st floor contains an arched, open-air arcade measuring two bays wide on Spruce Street and five bays wide on Nassau Street. The 21st through 23rd stories constitute the building's tower: 21st and 22nd stories contain tile walls and rectangular windows, while

7878-594: The neighborhood is in the 61st, 65th, and 66th districts, represented respectively by Charles Fall , Grace Lee , and Deborah Glick . Politically, the Financial District in New York's 10th congressional district ; as of 2022 , it is represented by Dan Goldman . Financial District and Lower Manhattan are patrolled by the 1st Precinct of the NYPD , located at 16 Ericsson Place. The 1st Precinct ranked 63rd safest out of 69 patrol areas for per-capita crime in 2010. Though

7979-519: The new headquarters caused ATS to go into debt. From its opening, 150 Nassau Street was beset with "painful disappointments", in part because of its inability to attract tenants. Several major elevator accidents also occurred at the building. In one such accident, a cab dropped from a lower floor to the cellar, and in another, a cab dropped from the eighth to the fifth floor without slowing down; however, no serious injuries were incurred in either incident. The third such incident occurred in November 1896, when

8080-410: The north for 94 feet 6 inches (28.80 m). The Morse Building is immediately to the south, while a public plaza and 8 Spruce Street are located to the east. The Potter Building and 41 Park Row are located across Nassau Street; 5 Beekman Street is one block south; and Pace University is located across Spruce Street. 150 Nassau Street was designed by Robert Henderson Robertson in

8181-417: The north were demolished in the 1950s and 1960s, and Pace College (later Pace University ) built 1 Pace Plaza on the site of the latter. Pace also acquired 150 Nassau Street and other nearby buildings in 1967, with plans to destroy them and build an office tower. These plans did not proceed and Pace University sold 150 Nassau Street in 1982. Nassau Equities bought the building in 1998 and proposed renovating

8282-414: The number of crimes is low compared to other NYPD precincts, the residential population is also much lower. As of 2018 , with a non-fatal assault rate of 24 per 100,000 people, Financial District and Lower Manhattan's rate of violent crimes per capita is less than that of the city as a whole. The incarceration rate of 152 per 100,000 people is lower than that of the city as a whole. The 1st Precinct has

8383-479: The other structures' top sections were composed mainly of spires or domes. 150 Nassau Street was largely a speculative development , relying on businesses from the nearby Civic Center neighborhood to occupy the structure. Upon the building's completion, the New York City Department of Public Works leased the basement, 17th floor, and one of the two ground-level storefronts. The construction of

8484-463: The outside of the wall. These are used for garden walls and for sloping sills under windows, however these are not climate proof. Rowlock arch has multiple concentric layers of voussoirs . Soldier : Units are laid vertically on their shortest ends so that their narrowest edge faces the outside of the wall. These are used for window lintels or tops of walls. The result is a row of bricks that looks similar to soldiers marching in formation , from

8585-496: The percentage of residents who have difficulty paying their rent, is 38% in Financial District and Lower Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively. Based on this calculation, as of 2018 , Financial District and Lower Manhattan are considered high-income relative to the rest of the city and not gentrifying . The population of the Financial District has grown to an estimated 61,000 residents as of 2018, up from 43,000 as of 2014, which in turn

8686-428: The population. The entirety of Community District 1, which comprises the Financial District and other Lower Manhattan neighborhoods, had 63,383 inhabitants as of NYC Health 's 2018 Community Health Profile, with an average life expectancy of 85.8 years. This is higher than the median life expectancy of 81.2 for all New York City neighborhoods. Most inhabitants are young to middle-aged adults: half (50%) are between

8787-435: The seventh floor of the light court to bring up the material: one with 30 horsepower (22 kW) and the other with 50 horsepower (37 kW). There were fears that the adjacent Morse Building was structurally unstable when a crack appeared in the facade due to 150 Nassau Street's construction, though engineers said it was not serious. During the new building's construction, ATS was exempt from real-estate taxes. In early 1895

8888-577: The structure to the New York Life Company the following year. In August 1914, it was announced that the New York Sun would move into 150 Nassau Street and demolish its former headquarters nearby at Nassau and Frankfort Streets. The Sun started moving into the building in July 1915, taking space in the basement and the second through fifth floors. Around the same time, 150 Nassau was placed for sale. The New York Life Insurance Company filed

8989-439: The teenage birth rate is based on a small sample size. Financial District and Lower Manhattan have a low population of residents who are uninsured . In 2018, this population of uninsured residents was estimated to be 4%, less than the citywide rate of 12%, though this was based on a small sample size. The concentration of fine particulate matter , the deadliest type of air pollutant , in Financial District and Lower Manhattan

9090-471: The term is sometimes used as a synonym for Wall Street , the latter term is often applied metonymously to the financial markets as a whole (and is also a street in the district), whereas "the Financial District" implies an actual geographical location. The Financial District is part of Manhattan Community Board 1 , which also includes five other neighborhoods ( Battery Park City , Civic Center , Greenwich South , Seaport , and Tribeca ). The streets in

9191-696: The under-construction building was assessed at $ 300,000, of which $ 6,000 of taxes would have normally had to be paid. The New York Life Insurance Company offered ATS a $ 1.25 million mortgage loan on the property that July. The project was completed by September 1895. At that point, it was among the city's tallest buildings , behind only the Manhattan Life Insurance Building , the World Building, Madison Square Garden , and St. Patrick's Cathedral . However, 150 Nassau Street contained usable space up to its top story, while

9292-403: The upper stories with offices and residences. A controversy ensued when Nassau Equities' executive Jack Lefkowitz attempted to evict all the tenants at once. The next year, on June 15, 1999, the New York City Landmarks Preservation Commission designated the building as an official city landmark. Renovations took place during 2001 and were completed the next year. On September 7, 2005, the building

9393-563: Was built in 1894–1895 as the headquarters of the American Tract Society (ATS), a nonprofit, nonsectarian but evangelical organization that distributed religious tracts . Designed by the architect R. H. Robertson , it is one of the first skyscrapers built from a steel skeleton and was among New York City's tallest buildings when it was completed. 150 Nassau Street is located near Park Row , which contained several newspaper headquarters. The building failed to make

9494-469: Was built on the same site in 1846–1847. ATS subsequently went into financial decline after the Panic of 1873 . By 1886, the society had voted for a "thorough examination of all [its] affairs and business". In 1894, ATS's executive committee proposed relocating uptown to Madison Square Park , stating that most of New York City's commerce had relocated further north. Two years later, ATS decided instead to build

9595-678: Was centered around Beekman Street, less than one block south of 150 Nassau Street. ATS bought two nearby lots in March 1894 and Robertson announced plans for a new 23-story skyscraper on the site the following month. Robertson submitted these plans to the New York City Department of Buildings in May 1894. The structure was expected to cost $ 1 million. ATS financed the project by mortgaging its existing property. Construction began almost immediately afterward. William Williams Crehore

9696-414: Was designated as a contributing property to the Fulton–Nassau Historic District , a National Register of Historic Places district. The penthouse unit went unsold until 2007 when it was purchased by Google engineering director Craig Nevill-Manning and his wife. By 2013 the penthouse was on sale for $ 20 million. That same year, residents filed a lawsuit to prevent a Denny's restaurant from opening in

9797-462: Was made of a layer of fine red sand extending 36 feet (11 m) deep, then a 7-to-8-foot (2.1 to 2.4 m) layer of clay , followed by another layer of fine sand. The layer of bedrock was located 100 feet (30 m) underground, and the builders decided against digging to the depth of the bedrock using pneumatic caissons . During construction, the foundation was excavated to a depth of 35 feet (11 m). The builders then drove pilings into

9898-661: Was nearly double the 23,000 recorded at the 2000 Census. In the New York City Council , the Financial District is part of District 1 , represented by Democrat Christopher Marte . List of aldermen /councilmen who have represented the Financial District The Financial District is part of New York's 27th State Senate district , represented by Brian P. Kavanagh . In the New York State Assembly ,

9999-413: Was space for four additional stores in the basement; the 22nd floor also contained a restaurant. The rest of the building had space for more than 700 offices. As built, each floor had 36 offices, which could be rented either as singular units or as part of a multi-unit suite. The corridors in the building were built to a relatively narrow width to maximize office space. Since the building's 2002 renovation,

10100-460: Was the engineering consultant, John Downey was the general contractor, and George R. Read served both as construction supervisor and managing agent. Keystone Bridge Works was the steel supplier, Atlas Iron Construction was the steel contractor, and Louis Weber Building was the masonry contractor. The structure was erected with the largest derrick utilized in the city at the time, completing two stories per week. Two double-drum engines were installed on

10201-404: Was used for decorative detail on the facade. When built, the top story contained further ornamentation such as a flagpole and finials , which caused the building to stand out on the skyline. The winged figures on the facade's uppermost portion were similar to that of Robertson's previous Corn Exchange Bank building at William and Nassau Streets. The ground directly underneath 150 Nassau Street

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