1 William Street facts for kids
Quick facts for kids 1 William Street |
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| Former names | J. & W. Seligman & Company Building Lehman Brothers Building |
| General information | |
| Architectural style | Neo-classicism |
| Location | New York, New York, United States |
| Coordinates | 40°42′17″N 74°00′36″W / 40.7048°N 74.0100°W |
| Construction started | 1906 |
| Completed | 1907 |
| Height | 157′ |
| Technical details | |
| Floor count | 11 |
| Design and construction | |
| Architect | Francis Kimball Julian C. Levi |
| Main contractor | George A. Fuller Company |
| Designated: | February 13, 1996 |
| Reference #: | 1943 |
1 William Street is an office building in the southern part of the Financial District in Lower Manhattan, New York City. It has been known by several names. It was first called the J. & W. Seligman & Company Building. Later, it became the Lehman Brothers Building. Today, it is also known as the Banca Commerciale Italiana Building.
The building was built between 1906 and 1907. It was designed by Francis H. Kimball and Julian C. Levi. It was made for the Seligmans, an important family from Germany who started an investment bank called J. & W. Seligman & Co.. From 1929 to 1980, the building was the main office for the investment bank Lehman Brothers. After that, Banca Commerciale Italiana bought it.
This 11-story building is covered in limestone and has a steel frame. It stands at a unique five-pointed intersection of William, South William, and Beaver Streets. Its shape is like a four-sided figure with a sharp corner. In 1996, the city of New York named it a landmark. In 2007, it became part of the Wall Street Historic District. This district is listed on the National Register of Historic Places.
Contents
History of 1 William Street
Building the Bank
J. & W. Seligman & Co. was started by brothers Joseph and James Seligman from Bavaria. Their first office opened in 1846 at 5 William Street. The company grew and earned money by making uniforms for soldiers during the American Civil War. After the war, they became involved in investment banking. Their main office moved to 59 Exchange Place. They also opened offices around the world, each run by one of the brothers.
In 1905, Isaac Seligman bought land on William Street. This land included the Seligmans' old store. It was also close to Wall Street, where many big financial companies were located. The next year, plans for the new building were filed. The New York Herald newspaper said it would look like an "Italian Renaissance type." It would have granite at the bottom and limestone higher up.
Construction began in May 1906. The building was finished by July 1907. It cost $1 million to build. J. & W. Seligman & Co. then moved into their new space. The main entrance was originally on South William Street.
How the Building Was Used
In 1919, a group of companies bought 1 William Street. The Seligmans moved to a nearby building at 54 Wall Street. That same year, the building was changed. A large, two-story banking room was split into two regular floors.
The investment bank Lehman Brothers bought 1 William Street in 1928. They needed more space and were located across the street. Lehman Brothers spent $500,000 to renovate the building. They moved the main entrance from South William Street to the corner of William and Beaver Streets. They also replaced the old South William Street entrance with windows.
Lehman Brothers moved into their new offices in June 1929. They first used half of the building. Later, they took over more space as other tenants left. They also used space in two buildings next door.
By the 1970s, Lehman Brothers faced financial problems. In 1977, they joined with another company, Kuhn, Loeb & Co. The combined company moved out of 1 William Street at the end of 1980. They put the building up for sale for $10 million. They moved all their work to a different building at 55 Water Street.
In 1981, Banca Commerciale Italiana bought the building. Between 1982 and 1986, they added an 11-story section to the south. This new part looks similar to the original building. It even won an architectural award in 1988. Today, the building is owned by Intesa Sanpaolo, which is Italy's largest bank.
What the Building Looks Like
The building is designed in the Renaissance Revival style. It also has parts that look like the Baroque Revival style from Britain. These include a curved outside, fancy sculptures, and towers at the corners.
Outside the Building
The sides of the building have a granite base. The windows on the ground floor have detailed frames. The second-floor windows are rectangular with decorative metal railings. From the third to the eighth floors, the windows are rectangular. They have wedge-shaped stones above them. A row of columns runs along the ninth and tenth floors. The eleventh floor has square windows. There are water towers on the roof and a chimney on the South William Street side.
The building has a curved front at its main entrance. This helps to smooth out the sharp corner where William and South William Streets meet. Above the eighth floor, this curved part has a special corner tower. This tower is round and looks like a small temple. The main doorway has glass and metal double doors. There are also granite steps, a flagpole, and decorative iron grilles above the doors. The third to eighth floors in this section are rounded. Above the eighth-floor window is a sculpted decoration.
The South William Street side used to have the original front door. This door was under an arch with a glass screen. A magazine called New York Architect said the building was "the most complete private banking institution in the city." They liked its shape and sculptures.
In 1982, architects designed an 11-story addition. This new part is south of the original building. It has black granite and limestone on the outside. It also has a small tower at its southern corner. This tower matches the tower at the original building's entrance. The addition has double doors facing South William Street. It also has a service entrance on Stone Street.
Inside the Building
When the building was new, the basement, ground floor, and mezzanine held the banking offices. There was also a "richly decorated" board room on the mezzanine. The main banking room was two stories high. It had a curved ceiling. By 1919, this large room was split into two separate floors.
When Lehman Brothers used 1 William Street, they had a very nice private dining area for their employees. In 1979, The New York Times called 1 William Street's lunchroom the best corporate lunchroom in the Wall Street area. They said the food was excellent. The chef, Pierre Colin, made 75 meals a day for lunch. Colin said the dinners were "much more elegant than eating at a midtown restaurant."
During dinners, small snacks were served on the third floor. Guests then moved to the Partners' Dining Room on the eighth floor. This room had a mahogany wood table with silver designs. It had special chairs, linen napkins, crystal and china dishes, oil paintings, and windows with small views of the nearby East River. When Banca Commerciale Italiana took over, they kept the original decorations. However, the dining facilities then served "only Italian food and wine."
Images for kids
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1 William Street, also known as the Banca Commerciale Italiana Building.
See also
In Spanish: 1 William Street (Manhattan) para niños
