1 Wall Street Fast Facts
- 1931
- Irving Trust Company (Bank of New York)
- Ralph T. Walker, Architect
- Marc Eidlitz & Son, Inc., Builders
- 50 stories
The intersection of Wall Street and Broadway in New York City was called the "most expensive real estate in New York" when the Irving Trust Company commissioned Voorhees, Gmelin & Walker to build a 50-story Art Deco skyscraper. Having outgrown office space in the Woolworth Building, Irving Trust became part of NYC's building boom, in spite of the Stock Market crash of 1929.
Art Deco Ideas
The Art Deco design was a practical response to the 1916 Building Zone Resolution of New York, which mandated setbacks to allow air and light to reach the streets below. Art Deco buildings were often formed in the shape of ziggurats, with each story smaller than the one below. Walker's design called for setbacks to begin above the twentieth story.
At street level, also notice the zigzag designs typical of Art Deco architecture.
In August 1929, Marc Eidlitz & Son, Inc. began building three stories of underground vaults after clearing the site of standing structures. The Indiana quarried smooth limestone facade set on a granite base creates a modern architectural jewel that has been called "one of New York City's most extraordinary Art Deco masterpieces."
Completed in March 1931, Irving Trust took possession on May 20, 1931. The Bank of New York acquired the Irving Bank Corporation and moved its headquarters to One Wall Street in 1988. Bank of New York and Mellon Financial Corporation merged to become The Bank of New York Mellon in 2007.
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SOURCE: Landmarks Preservation Commission, March 6, 2001
