1585 Broadway
1585 Broadway | |
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Morgan Stanley Building | |
WSP Cantor Seinuk | |
Main contractor | Starrett Brothers and Eken |
References | |
[1][2] |
1585 Broadway, also called the Morgan Stanley Building, is a 42-story office building on Times Square in the Theater District neighborhood of Manhattan in New York City. The building was designed by Gwathmey Siegel & Associates Architects and Emery Roth & Sons and was developed by David and Jean Solomon. 1585 Broadway occupies a site on the west side of Broadway between 47th and 48th Streets. The building has served as the headquarters of financial-services company Morgan Stanley since 1995.
1585 Broadway consists of a low base, with
Solomon Equities had developed 1585 Broadway as a
Site
1585 Broadway is on the western side of
The surrounding area is part of
Architecture
1585 Broadway was designed by
Form and facade
The building was proposed with a
The base is covered in glass and metal, with dark-glass panels hiding the signage behind them.[15][20] Artkraft Strauss Sign Corporation manufactured the signs on the base,[7][21] which were included to comply with city regulations.[22][23] Ten dark-glass "fins" protrude over the sidewalk on Broadway, each containing one of the characters "1585 B'way".[7][18][24] Each storefront has signs identifying the retailer there.[16] Three horizontal boards are placed above the fourth-story setback, displaying financial quotations and news.[16][7][22] Each board is 140 ft (43 m) wide and 10 to 12 ft (3.0 to 3.7 m) high;[7][9][24] the boards constitute a large ticker tape.[25][26] Two additional signs at the corners, measuring 30 by 60 ft (9.1 by 18.3 m), display market information. At Broadway's corners with 47th and 48th Streets, there are curved signs measuring 44 ft (13 m) tall, which display the current time in cities around the world. Morgan Stanley's name is only displayed at the corners, with 7 in-high (18 cm) letters.[7][23][9]
The tower's facade is mostly a glass curtain wall[14][18][20] with facade panels designed by PPG.[15] The tower section contains silver aluminum spandrel panels at the corners. On the upper stories, the corners are notched inward and contain mirrored-glass panels. The remainder of the facade is made of panels that are either white, blue-green, or mirrored glass.[6][15] These panels are framed by nearly invisible mullions.[19] The facade panels appear in different colors under different lighting conditions.[14][19] According to a book about Gwathmey Siegel's architecture, these materials were meant to create "images of both opacity and reflectivity, creating a simultaneous sense of fluidity and permanence".[6] The roof is pitched on four sides, a modification of a mansard roof design, but with four backlit panels.[6] Architectural critic Paul Goldberger described the roof as a "cross between a gabled roof and a cut-off pyramid".[15]
Features
The building has 1.3 million square feet (120,000 m2) of gross floor area.[6][27] Because of zoning rules, there is no office entrance on Broadway, as that frontage is taken up by shops.[28] Gwathmey Siegel designed the original lobby in 1990 as well as the executive suite of Morgan Stanley in 1995.[29] Gensler designed the remainder of the offices.[30][31]
Lobby and basements
The lobby connects the entrances on 47th and 48th Streets.[15][28][32] It is a privately owned public space measuring 100 by 60 ft (30 by 18 m).[28] The lobby is part of a corridor of privately owned public spaces connecting 44th to 49th Streets. The other spaces on this corridor are Shubert Alley, a passageway under the New York Marriott Marquis, the lobby of the Hotel Edison, and a driveway under the Crowne Plaza Times Square Manhattan.[33]
The lobby contains a marble floor with white, dark-green, and black tiles arranged in a geometric pattern.[19][28] The walls are made of gray granite with dark green marble strips.[28] One wall curves inward to give the impression that it is shorter than it actually is.[28][34] The lobby ceiling is made of wood and is supported by two large columns.[15][35] The ceiling is arranged in a grid,[28] with rectangular coffers measuring 5 ft (1.5 m) wide.[17] There are incandescent lamps with reflectors within the ceiling, creating what Architectural Lighting magazine described as a "luminous" effect.[34] Stephen Margulies designed the lobby lighting.[34][36]
Behind a glass wall, the lobby contains escalators to a 500-seat dining room in the basement.[17][37] An overpass passes above the dining-room escalators.[18] The dining room was built in 1995; it was originally storage space and was not connected to the lobby.[27][29] The lobby and dining room collectively measure 29,000 sq ft (2,700 m2).[29] The sub-basement was originally used by law firm Proskauer Rose, whose chairman Alan S. Jaffe euphemistically referred to the space as a "concourse".[31] Part of the sub-basement level became a law library in 2000; the space had 60,000 volumes and was staffed by 14 librarians, with capacity for 34 lawyers. The sub-basement also had locker rooms for the law firm's male and female employees. There are full-height frosted-glass panels, wooden decorations, and indirect lighting fixtures from the walls and ceiling. The space contains three concrete columns measuring 4 by 4 ft (1.2 by 1.2 m), which are covered with stainless-steel panels.[31]
Executive suite
Morgan Stanley's executive suite is on the 40th and 41st stories of the tower and covers 45,000 sq ft (4,200 m2).
History
Times Square's Theater District had evolved into a business district after World War II.
Development
The Solomons acquired the Strand Theatre and Leighton's Haberdashers and Clothiers in 1986, with plans to build a 40-story tower on the two sites. This was one of several developments planned for Times Square at that time.
Engineering consultant Irwin Cantor devised two plans for the building's superstructure: a tubular frame and a megastructure.[10] By mid-1987, Morgan Stanley was negotiating with Solomon Equities for space in the proposed tower.[51][52] Morgan Stanley executives did not like the prospect of seeing bright signage outside their windows,[52][53] and the deal fell through for that reason.[53][54][55] The Solomons decided to proceed with the tower anyway.[50] The supply of office space in New York City was starting to outpace demand by then.[54][56] Demolition of the site was underway by mid-1987.[53] The CPC approved a planning regulation in September 1987, which required large new developments in Times Square to set aside about 5 percent of their space for "entertainment uses", such as broadcast studios or ground-floor stores.[57] While 1585 Broadway was planned entirely as an office building,[58] it had retail space on Broadway to comply with this rule.[28] The ordinance also required the developers of such buildings to install large signs facing Times Square;[59] the Solomons modified their plans as a result.[60]
The aftermath of
Completion and insolvency
Difficulties
1585 Broadway was completed in 1990 for $300 million.[78] This coincided with the beginning of the early 1990s recession, when 14.5 percent of Manhattan office space was vacant.[79] Furthermore, some 9 million square feet (840,000 m2) of office space in the western section of Midtown had been developed in the 1980s, of which only half had been leased.[80][81] By March 1990, David and Jean Solomon had not been able to sign any other tenants besides Proskauer Rose for either of their Times Square buildings.[82][b] Their Times Square skyscrapers, as well as a third project at 712 Fifth Avenue, were almost nearly empty.[84][85] Proskauer Rose occupied 11 of the 42 floors at 1585 Broadway,[86][87] taking up 365,000 sq ft (33,900 m2).[31][37] The rest of the building, covering 944,400 sq ft (87,740 m2), remained available for lease in mid-1990.[88] Since the structure was less than half occupied, the Solomons were not required to operate the exterior signs.[89] As part of the Industrial and Commercial Incentive Program, which automatically distributed tax abatements to developers of industrial or commercial buildings in certain areas of New York City, the building also received a municipal tax abatement that lowered its tax bill by several million dollars.[90]
A consortium of
Furthermore, Proskauer Rose did not pay rent for two years because the Solomons had promised $25 million of improvements and provided a work letter that exempted the tenant from paying rent until October 1991.
Chapter 11 filing
At the end of December 1991, Solomon Equities filed a
The lenders could not agree on the terms of the restructuring, and more than five prospective tenants were turned away as a result.
In 1993, the lenders hired
Morgan Stanley takeover
1990s
The lenders sold 1585 Broadway to the high bidder, Morgan Stanley, for $176 million in August 1993.
1585 Broadway already had some space that could be used as trading floors, and the building's electrical system could support the high power requirements of workstations.[108] Morgan Stanley executives had also liked the building's column-free spaces.[115] The firm planned to use the second through sixth floors for its commodities, equities, fixed income, and forex divisions.[110] Even after the acquisition of 1585 Broadway, Morgan Stanley still needed around 250,000 sq ft (23,000 m2),[116] so it bought 750 Seventh Avenue in 1994.[117][c] Morgan Stanley was still required to place signs on the facade once the building was more than 50 percent occupied.[119] This time, Morgan Stanley executives saw the benefits of getting a deeply discounted space as outweighing the drawbacks of large signs.[55] 1585 Broadway's original architect, Gwathmey Siegel, designed a renovation for the building in 1994 and conducted the renovation the next year.[29] Signs were installed on the exterior;[7][9] the basement dining room and the executive suite were added;[18] and 2,000 trading desks were added across four stories.[120] Morgan Stanley also received a $100 million tax exemption after it purchased 1585 Broadway and 750 Seventh Avenue.[121]
Morgan Stanley began moving into 1585 Broadway in mid-1995,
2000s–present
Proskauer Rose renovated the 19th floor in 2000, adding seven conference rooms and 49 offices by relocating its law library to the sub-basement. The law firm renovated the rest of its space shortly afterward.[31] Following the September 11 attacks in 2001, Morgan Stanley dispersed employees from its Times Square "campus" to reduce the risk created by concentrating of so many workers in a small area.[129][130][131] The building's lobby was also closed to the public for security reasons, despite being a privately owned public space that legally had to remain open.[33] To protect against vehicular attacks, Morgan Stanley installed planters outside 1585 Broadway in 2004.[132] Morgan Stanley began turning off the building's lights at night in 2005 to reduce the risk of migratory birds crashing into the facade.[133] The planters outside the building were removed in 2006; the New York City Police Department said that the barriers were ineffective at preventing vehicular attacks while also obstructing pedestrian flow.[134] The same year, Morgan Stanley bought a building at 522 Fifth Avenue and relocated its private wealth management and investment management divisions there.[135]
When Proskauer Rose's lease at 1585 Broadway expired in 2010, the firm sought to relocate to the nearby
By early 2017, Morgan Stanley contemplated relocating to the new
Reception
According to architectural writer Robert A. M. Stern, 1585 Broadway's facade was "a welcome departure from the stone-clad Postmodern towers of the 1980s", and it earned many accolades.[37] Paul Goldberger wrote for The New York Times: "For this building has a real facade, designed to stand on its own, that looks reasonable even when not a square inch of the sign space is rented."[15][37] At the end of 1991, Goldberger dubbed 1585 Broadway as the "best nearly empty building of the year".[148] In 1992, Herbert Muschamp of the Times described 1585 Broadway as "a square chaperone dressed in starchy gray, peering down sternly at the indecorous doings in the street below".[149] Ada Louise Huxtable characterized the building as "a stunning event", saying the design "carries the sheer, sleek precision of the modernist curtain wall to new intricacy and richness".[37] Eve M. Kahn of The Wall Street Journal described 1585 Broadway as a "water-green, restrained corporate monolith".[150]
After the building was renovated, Stanley Abercrombie wrote for Interior Design magazine in 1996: "Above the signage area, the tower is a cool, symmetrical shaft [...] continuing the downstairs glitter with quiet composure".[38] Of the interior, Abercrombie wrote that Gwathmey Siegel had reconciled "a potentially overwhelming number of difficult and sometimes opposing demands into a work of architecture and interior design that appears seamless, coherent, and inevitable" while "making it all look easy".[36] When 3 Times Square was being built on the opposite end of Times Square in 1998, Muschamp wrote that 1585 Broadway was the only new building in the area that "has broken boldly out of the mold of commercial design" prior to 3 Times Square's construction.[151]
See also
- List of buildings and structures on Broadway in Manhattan
- List of tallest buildings in New York City
References
Notes
- ^ Some sources give the building's height as 41 stories.[9] Robert A. M. Stern incorrectly cited the height as 52 stories.[6]
- ^ The Solomons were able to sign a tenant for 750 Seventh Avenue in April 1990.[83]
- ^ The Wall Street Journal did not name 750 Seventh Avenue explicitly but said that the building was on Seventh Avenue and 49th Street and was developed by the Solomons. The newspaper also gives a conflicting figure of 200,000 sq ft (19,000 m2) for Morgan Stanley's space requirements.[117] Crain's New York mentioned both structures by name in 1995.[118]
- ^ Including 1 New York Plaza, 85 Broad Street, 750 Seventh Avenue, and 1221 Avenue of the Americas[139]
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- Stern, Robert A. M.; Fishman, David; Tilove, Jacob (2006). New York 2000: Architecture and Urbanism Between the Bicentennial and the Millennium. New York: Monacelli Press. OL 22741487M.
External links
- Media related to Morgan Stanley Building at Wikimedia Commons