28 Liberty Street
28 Liberty Street, formerly known as One Chase Manhattan Plaza, is a banking skyscraper located in the Financial District of Manhattan, New York City, between Pine, Liberty, Nassau, and William Streets. Construction on the building was completed in 1961. It has 60 floors, with 5 basement floors, and is 813 feet (248 m) tall, making it the 26th tallest building in New York City, the 43rd tallest in the United States, and the 200th tallest building in the world.
|28 Liberty Street|
28 Liberty Street facade
|Location||28 Liberty Street, New York, NY 10005, United States|
|Construction started||January 1957|
|Architectural||813 ft (248 m)|
|Floor count||60 (+5 below ground)|
|Floor area||2,299,979 sq ft (213,675.0 m2)|
|Design and construction|
|Architect||Skidmore, Owings and Merrill|
|Structural engineer||Skidmore, Owings and Merrill, Weiskopf & Pickworth LLP|
|Main contractor||Turner Construction|
The building is built in the International style, with a stainless steel facade with black spandrels below the windows. Designed by Gordon Bunshaft of Skidmore, Owings and Merrill, the building echoes the firm's earlier Inland Steel Building in Chicago.
The Chase Manhattan Bank president of that time, David Rockefeller, the late patriarch of the Rockefeller family, was the prime mover of the construction and the building's location, notably because many corporations had moved uptown, and the Financial District had languished as a result. It was begun in 1956 and completed in 1961.
In 1970, Chase installed a monumental sculpture entitled "Group of Four Trees" by French artist Jean Dubuffet in the building's plaza. At the time, the 40 feet (12 m) tall sculpture was the largest outdoor, public artwork in New York City, beating out Pablo Picasso's "Bust of Sylvette" by 4 feet (1.2 m). The artwork joined a sunken Japanese rock garden by artist Isamu Noguchi which had been present since the building's opening.
In 1991, Chase embarked on a comprehensive renovation of the building, the first major overhaul since its opening 30 years earlier. The bank spent $30 million to clean the building's exterior, upgrade elevators, remove asbestos, remodel the lobby and improve the heating and cooling systems. The same year, the building lost major tenant Davis Polk & Wardwell which moved to 450 Lexington Avenue. The departure followed fellow law firm Cravath, Swaine & Moore's move from the building a year earlier.
The New York City Landmarks Preservation Commission designated One Chase Manhattan Plaza a landmark in 2008. On October 18, 2013, JPMorgan sold the building to Fosun, a Chinese investment company, for $725 million. Fosun rebranded One Chase Manhattan Plaza as 28 Liberty Street in 2015. The new name refers to the east-west street on which the building sits but also connects to the Statue of Liberty in the distance and to "the good fortune that, according to Chinese tradition, is bound up in the number 8 [and] 28 denotes 'double prosperity'".
Fosun invested $150 million into reconfiguring the building's ground and lower floors into a 200,000 square feet (19,000 m2) retail complex. The renovations included a 35,000 square feet (3,300 m2) food hall on the ground floor as well as a 45,000 square feet (4,200 m2), 10-screen Alamo Drafthouse Cinema in the below-ground space. To fund the improvements, Fosun secured an $800 million loan from Deutsche Bank and HSBC in November 2017.
In 2018, Danny Meyer opened "Manhatta", a restaurant and event space taking up the building's entire 60th floor. The same year, Milbank, Tweed, Hadley & McCloy left their 340,000 square feet (32,000 m2) space in the building for the newly built 55 Hudson Yards.
Architecture and designEdit
One Chase Manhattan Plaza is shaped like "an enormous steel-framed rectangle". The 813 ft (248 m) building has about 1,800,000 square feet (170,000 m2) of aboveground floor area. Another 600,000 square feet (56,000 m2) in the basements contains "a truck entrance, mechanical equipment rooms, vaults, a [Chase] branch bank, and a cafeteria". There are aluminum panels—chosen for their durability and performance—as well as mullions and column cladding on the facade. The columns are about 3 by 5 feet (0.91 by 1.52 m) thick and are about 29 feet (8.8 m) apart from each other. The columns extend from the building on its long sides. The floors cantilever on the columns on the building's short sides. Architecture critic Carole Herselle Krinsky wrote:
looks bulky among the slender towers of pre-Depression skyscrapers. Its surface can also appear obtrusive because the earlier building surfaces of brick and stone absorb light while Chase's aluminum and glass reflect it. Seen from ground level, especially from its principal plaza, the building is a commanding presence.
A direct entrance to the Wall Street station (2 and 3 trains) of the New York City Subway is in the lobby. There are also connections to Wall Street (4 and 5 trains) and to Broad Street (J and Z trains) via passageways underground.
- Allianz Global Corporate & Specialty
- Attorney General of New York
- JPMorgan Chase
- Local Initiatives Support Corporation
- London Stock Exchange Group
- Matchroom Boxing USA
- Serendipity Labs
- Manhatta (Union Square Hospitality Group)
- Wolters Kluwer
- Morris, Keiko (March 11, 2015). "A Landmark Office Tower in Lower Manhattan Reimagined". The Wall Street Journal.
- "One Chase Manhattan Plaza". SOM.
- Emporis.com, Design Specs
- Morris, Keiko (January 11, 2015). "Downtown Tower Gets a Symbolic New Name". The Wall Street Journal. Retrieved March 20, 2017.
- Shirey, David (November 24, 1970). "Dubuffet Is Doing 40‐Foot Sculpture for Chase Plaza". The New York Times.
- Garbarine, Rachelle (September 25, 1991). "Chase Bank Renovates to Lure Tenants". The New York Times.
- "One Chase Manhattan Plaza (aka 16-48 Liberty Street, 26-40 Nassau Street, 28-44 Pine Street, 55-77 William Street) Archived 2016-03-04 at the Wayback Machine, Landmarks Preservation Commission, February 10, 2009.
- Levitt, David M. (October 18, 2013). "JPMorgan Sells Chase Manhattan Plaza in NYC to China's Fosun". Bloomberg News. Retrieved November 27, 2013.
- Bindelglass, Evan (May 6, 2015). "Landmarks Wants Re-Think of Re-Development At 28 Liberty Street". New York YIMBY.
- Cuozzo, Steve (January 21, 2019). "Massive food & entertainment skyscraper coming to FiDi". New York Post.
- Cunningham, Cathy (November 24, 2017). "Deutsche, HSBC Close $800M Refi of 28 Liberty". Commercial Observer. Retrieved June 24, 2019.
- Fabricant, Florence (July 17, 2018). "Room With Quite a View: Danny Meyer's Manhatta". The New York Times.
- Sederstrom, Jotham (December 13, 2011). "EXCLUSIVE: In a Reversal, Law Firm Milbank Tweed Considers a Renewal". Commercial Observer. Retrieved November 27, 2013.
- Krinsky, Carole Herselle, Gordon Bunshaft of Skidmore, Owings & Merrill (New York: The Architectural History Foundation, 1988) excerpt (pp. 72-74, 76) at greatbuildings.com.
- "MTA Neighborhood Maps: Lower Manhattan" (PDF). mta.info. Metropolitan Transportation Authority. 2018. Retrieved October 1, 2018.
- "Office Details". Allianz. June 12, 2012. Archived from the original on February 6, 2016. Retrieved November 27, 2013.
- Schram, Lauren (January 20, 2017). "Attorney General Eric Schneiderman Nails Down 345K-SF Deal at 28 Liberty Street". Commercial Observer.
- La Guerre, Liam (November 8, 2017). "Travel Website Booking.com Takes 53K SF at 28 Liberty Street". Commercial Observer.
- Rizzi, Nicholas (January 25, 2019). "Fosun Signs Three Tenants to 170K SF at 28 Liberty". Commercial Observer.
- Cullen, Terence (August 5, 2015). "Insurance Company Doubling Space in Liberty Street Move". Commercial Observer.
- La Guerre, Liam (June 7, 2016). "Law Firm and JLL Sign Leases at Fosun's 28 Liberty Street". Commercial Observer.
- Schram, Lauren (October 5, 2018). "London Stock Exchange Consolidating Manhattan Locations in 75K SF at 28 Liberty". Commercial Observer.
- La Guerre, Liam (March 14, 2018). "The Plan: Serendipity Labs at 28 Liberty Street". Commercial Observer. Retrieved June 24, 2019.
- Cunningham, Cathy (March 12, 2019). "Going My Wei: Behind Fosun's Transformation of 28 Liberty Street". Commercial Observer. Retrieved June 24, 2019.
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