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60 Wall Street

60 Wall Street
60 Wall Street building.jpg
General information
StatusComplete
Architectural stylePostmodernism
Location60 Wall Street
New York City, New York 10005
United States
Completed1989
OwnerGIC Singapore (95%)
Height
Antenna spire745 ft (227 m)
Technical details
Floor count50
Floor area1,700,698 sq ft (158,000.0 m2)
Design and construction
ArchitectKevin Roche John Dinkeloo & Associates
Structural engineerWSP Cantor Seinuk

60 Wall Street is a 47-story skyscraper (745 ft (227 m)) on Wall Street in the heart of the Financial District in Lower Manhattan. Originally built as the headquarters for J.P. Morgan & Co., it currently serves as the American headquarters of Deutsche Bank. However, Deutsche Bank plans to leave the building for the Time Warner Center in 2021.[1]

History

Atrium next to 60 Wall Street

Built between 1987 and 1989 as the headquarters for J.P. Morgan & Co. (now absorbed into JPMorgan Chase), the tower has over 1.7 million square feet (160,000 m²) of office space, with all floors being occupied by Deutsche Bank. Completed in 1989, 60 Wall Street was the largest corporate building to be built in the Financial District.

60 Wall Street was obtained by Deutsche Bank in 2001 for $600 million, with uncertain plans for the building. However, after the loss of the Deutsche Bank Building (also known as 130 Liberty Street) during the September 11 attacks, Deutsche Bank moved about 5,500 staff into the building. Deutsche Bank sold the building in a sale-and-leaseback agreement with Paramount Group for over $1.2 billion in 2007. In exchange, Deutsche Bank agreed to lease the entire building for 15 years, until 2022.[2]

In 2017, Paramount sold a 95% interest to GIC Singapore for $1.04 billion, valuing the tower at $1.1 billion. German lender Aareal Bank provided GIC with $575 million for the acquisition.[3] In May 2018, Deutsche Bank announced the company would be vacating 60 Wall Street and moving to a smaller 1.1 million square foot office in the Time Warner Center, near Columbus Circle.[1] The loss of Deutsche Bank will leave the building entirely vacant starting in the third quarter of 2021.

Details

The tower was designed by Kevin Roche, John Dinkeloo & Associates to fit its surroundings with a postmodern, Greek revival, and neoclassical look to emphasize both height and size. 60 Wall Street is surrounded by slender pre-World War II towers, such as the American International Building and 20 Exchange Place, making a prominent impact on the Lower Manhattan skyline. The lobby has an entrance, open weekdays only, to the Wall Street subway station (2 and ​3 trains) on the IRT Broadway–Seventh Avenue Line.

60 Wall Street is also known as a former locus of Occupy Wall Street activity during the protest occupation of nearby Zuccotti Park. In an October 2011 article in Bloomberg Businessweek entitled "60 Wall: The Real Headquarters of OWS," reporter Mark Gimein noted that the atrium was scheduled to host activist events like "the "vision and goals" meeting, the facilitation training sessions, the communications meeting."[4]

In January 2012, Deutsche Bank installed a 122.4 kW solar photovoltaic (PV) system on the roof of the building in order to decrease carbon emissions by 100 metric tons per year. The system is the largest solar PV array in Manhattan and at 737 feet above the ground it is currently the highest elevated solar PV flat panel array in the world.

See also

References

  1. ^ a b Basak, Sonali (May 4, 2018). "Deutsche Bank Joins Wall Street Exodus for View of Central Park". Bloomberg.
  2. ^ 60 Wall Street Deal Sheet
  3. ^ "GIC closes on 95% stake in 60 Wall in $1.1B deal". The Real Deal. January 24, 2017.
  4. ^ Gimein, Mark. "60 Wall: The Real Headquarters of OWS". Bloomberg Businessweek.

External links