Top 10 Amazing Facts about 40 Wall Street

:40 Wall Street, upper section. Photo by ChrisRuvolo- Wikimedia

Top 10 Amazing Facts about 40 Wall Street

The briskness of the Financial District in New York comes together to create a spectacular landmark property, 40 Wall Street. 40 Wall Street consists of 1.3 million square feet of office space over 72 stories. It is located directly from the New York Stock Exchange. The building has a world-class management team and spectacular views.

Here are top 10 amazing facts about 40 Wall Street.

1. 40 Wall Street Was Built Within a Year

The construction of the building began in May 1929, and initially, it faced some challenges. The excavations for 40 Wall Street were complicated, with little available space to store materials, the bedrock was 64 feet below street level, and previous buildings on the lot contained foundations up to 5 feet thick.

40 Wall Street was designed by lead architect H. Craig Severance alongside associate architect Yasou Matsui and consulting architects Shreve & Lamb and Morrel Smith with Walker & Gillette designed the interior.

The building was completed by May 1, 1930, one week ahead of schedule and officially opened on May 26, 1930.

2. The 40 Wall Street Was the World’s Tallest Building for Just Two Months

Photo by Kidfly182-Wikimedia

Upon its completion in 1930, 40 Wall Street was intended to be the world’s tallest building at 927 feet and nearly one million square feet of office space. The architect of 40 Wall Street, Craig Severance, was in a rival competition to Chrysler Building, architect William Val Alen.

Both architects attempted to surpass the height of the Woolworth Building, then the world’s tallest. 40 Wall Street was initially 47 stories, then 63, and finally 71 stories. The building held the title of the world’s tallest for only months.

Val Alen then designed a 197-foot spire, and the Chrysler Building overtook 40 Wall Street as the world’s tallest.

Read more on Top 10 Sensational Facts About The Chrysler Building

3. It Was Originally named the Manhattan Company Building

The building was built as the headquarters of the Manhattan Company. The building was originally known as the Bank of Manhattan Trust Building and the Manhattan Company Building.

In 1955, Chase National Bank and The Manhattan Company merged to create Chase Manhattan Bank. It later became 40 Wall Street, known as the Trump Building, because Donald Trump owns it. 

4. 40 Wall Street is in the Financial District of Manhattan

The building is located in the Financial District of Manhattan in the middle of the block, bounded by Pine Street to the north, William Street to the east, Wall Street to the south, and Nassau Street to the west.

The site of the building is L-shaped with a longer façade on Pine Street than on Wall Street. It’s also surrounded by numerous buildings, such as 30 Wall Street to the west, Federal Hall National Memorial, and 48 Wall Street to the east and more.

5. A Plane Crashed Into 40 Wall Street

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On May 20, 1946, a United States Army Air Forces Beechcraft C-45F Expediter airplane crashed into 40 Wall Street’s northern façade. The plane was heading from Newark Airport on a flight originating at Lake Charles Army Airfield in Louisiana.

The plane struck the 58th floor of the building, and the crash killed all five aboard though no one in the building or on the ground was hurt. Fog and low visibility were identified as the main cause of the crash.

6. The 40 Wall Street Façade Features Many Architectural Designs

The building façade its massing is designed more similarly to the Art Deco style and elements of classical architecture in addition to abstract shapes. The façade features a modernized French Gothic.

The façade consists of buff-colored brick and decorative elements made of terracotta and bricks. Piers separate the vertical bars from the windows; piers are flat and characterized by Art Deco style. The building’s window openings have numerous types of window-pane arrangements or louvers.

7. Donald Trump Owns 40 Wall Street 

The real estate developer Donald Trump in July 1995 purchased 40 Wall Street for a figure which is still debated because Trump has given conflicting accounts about the leasehold price. After buying, Trump started plans to refurbish 40 Wall Street.

He planned to convert the upper half of 40 Wall Street to residential space leaving the bottom as commercial space. By 1997, Trump was negotiating with hotels to occupy the lower stories of 40 Wall Street.

In 2003, Trump tried to sell the building expecting offers above $300 million, which didn’t materialize. However, in 2011, Duane Read opened its flagship branch inside the former banking space.

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8. There Used to be an Observation Deck at 40 Wall Street

Like many of New York City’s Art Deco skyscrapers, 40 Wall Street was built with a public observation deck on its roof. The observation deck was said to be on the 69th and 70th floors. The roof also had contained machinery and recreational facilities.

9. 40 Wall Street Has Headquartered some of the Most Storied Companies

40 Wall Street New York City at Sunset. Photo by C R- Wikimedia

Some of the early companies at the building were Four Manhattan Company Subsidiaries; the Bank of Manhattan Trust Company, the International Manhattan Company, the Bank of Manhattan Safe Deposit Company, and the International Acceptance Bank.

During World War II, the U.S. Navy had offices inside it. Other companies include Westinghouse Electric Corporation and Western Union. Subsequently, financial companies like Deutsche Bank, Toronto Dominion Bank, and Manufactures Hanover’s Trust Company have all been headquartered at 40 Wall Street.

10. The 40 Wall Street Has Received Several Critics and Recognitions

In February 1930, 40 Wall Street was awarded by the Downtown League, recognizing it as the best building completed in lower Manhattan during the preceding year. In addition, the New York City Landmarks Preservation Commission designated 40 Wall Street as a city landmark on December 12, 1995.

However, some critics regarded 40 Wall Street negatively. Robert A.M. Stern, an architect, wrote in his 1987 book, New York 1930, That 40 Wall Street’s closeness to other skyscrapers “had reduced the previous generation of skyscrapers to the status of foothills in the new mountain range.”

Also read 20 Most Famous Buildings in New York