32 Old Slip

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Coordinates: 40°42′14″N 74°00′29″W / 40.704°N 74.008°W / 40.704; -74.008

32 Old Slip
One Financial Square 32 Old Slip.jpg
as seen from the East River
General information
Architectural style Postmodernism
Location Financial District, Manhattan
Address 32 Old Slip
Town or city New York City
Country United States
Completed 1987
Owner Beacon Capital Partners
Height 575 ft 0 in (175.26 m)
Technical details
Floor count 36
Design and construction
Architecture firm Edward Durell Stone & Associates
Website
32oldslip.com
References
[1][2]

32 Old Slip, also known as One Financial Square, is a skyscraper in the Financial District of New York City, completed in 1987. The building has 36 floors and stands at 575 ft 0 in (175.26 m). It is home to Convene,[3] AIG Global Real Estate,[4] Goldman Sachs,[5] the New York Regional Office of the United States Census Bureau,[6] while the ground floor houses the New York City Fire Department (FDNY) engine company 4 and ladder company 15.[7]

History[edit]

The site of the building was originally that of the United States Assay Office, what was the last public gold refinery in the United States.[8] The Assay Office also was responsible for incinerating damaged paper money and melting damaged coins. In 1983 the United States Mint put the 42,176 square feet (3,918.3 m2) property up for auction. Beginning at $3 million, the winning bid was made by HRO International Ltd., a New York realty developer, at $27 million. The sale established it as the most valuable government estate sold at public auction.[8] The Assay office building was subsequently demolished in 1986.[9]

In 1987, HRO built the 36-floor building that stands today, naming the 23-43 Old Slip property One Financial Square.[1][9] The Paramount Group purchased the property for $135 million in 1995,[10] then in August 2007 sold it to Beacon Capital Partners for $751 million,[9] one of the largest sales on record of an office building in Lower Manhattan.[11]

Like many buildings in Lower Manhattan, 32 Old Slip was battered with storm waters during Hurricane Sandy in 2012. In contrast to most in the region, the building was designed to resist a powerful earthquake, which in part made the structure less prone to flooding.[12] Within a year the building's market value declined by 21.6% ($65.7 million).[13] In 2013 a renovation effort began to add improved flood barriers, pumps and piping systems to better ward against future storms.[2]

Architecture[edit]

The building is considered to be of a postmodern architectural style. Four sides of granite and silver-tinted glass make up the base, which give way to stepped transitions, eventually folding to an octagonal, entirely glass curtain wall.[14]

The floor sizes range from 23,404 to 38,750 rentable square feet, totalling 1,161,435 rentable square feet overall.[2] It consists of columnless interior and a 40 ft 0 in (12.19 m) lobby.[14] There are 26 elevators in service and a parking garage beneath the structure.[2] The ground level side and rear of the building feature a privately owned arcade and urban plaza.[15]

References[edit]

  1. ^ a b "One Financial Square". Emporis. Retrieved 27 August 2014. 
  2. ^ a b c d "Building Specifications". 32oldslip.com. Retrieved August 24, 2014. 
  3. ^ Hughes, C. J. (April 23, 2013). "New Hosts Fill Companies' Need for Meeting Space". The New York Times. Retrieved August 24, 2014. 
  4. ^ "AIG Global Real Estate". AIG. Retrieved August 29, 2014. 
  5. ^ "Goldman Sachs Asset Management". Goldman Sachs. Retrieved August 31, 2014. 
  6. ^ "Directions to the New York Regional Office". United States Census Bureau. Retrieved August 25, 2014. 
  7. ^ "42 South St". Google Maps. Retrieved 29 August 2014. 
  8. ^ a b Shenon, Philip (July 21, 1983). "U.S. ASSAY OFFICE SITE SOLD DOWNTOWN FOR $27 MILLION". The New York Times. Retrieved August 25, 2014. 
  9. ^ a b c Pincus, Adam. "1983: Top prices for auctioned government-owned parcels". therealdeal.com. Retrieved August 29, 2014. 
  10. ^ Wellborn, Mark. "Sale of One Financial Square Closes for $751 M". New York Observer. Retrieved 29 August 2014. 
  11. ^ Stoler, Michael (October 25, 2007). "All Signs Pointing Up in Downtown Manhattan". The New York Sun. Retrieved August 29, 2014. 
  12. ^ Geiger, Daniel. "32 Old Slip lands second big tenant in month". crainsnewyork.com. Retrieved 29 August 2014. 
  13. ^ Pincus, Adam. "Goldman Sachs HQ Is Worth $176 Million Less Now Than It Was Last Year". The Real Deal. Business Insider. Retrieved 29 August 2014. 
  14. ^ a b "32 Old Slip, One Financial Square". nyc-officespace-leader.com. Retrieved August 29, 2014. 
  15. ^ "Privately Owned Public Space". nyc.gov. Retrieved August 29, 2014.