A classic, national landmark building located in the heart of the Financial District, 120 Broadway, also known as the Equitable Building, is one of Lower Manhattan's largest and most impressive office buildings. The Equitable Building is as commanding a corporate home now as it was upon completion in 1915. Occupying the entire square block between Broadway and Nassau, Pine and Cedar Streets, the building contains 1.8 million square feet and is steps away from Wall Street and the New York Stock Exchange. The Equitable Building soars 40 stories, each with up to 55,000 square feet of prime, flexible space.
The building proudly houses the offices of the Attorney General of the State of New York; Tower Insurance; Emmet, Marvin and Martin, and the Securities Industry and Financial Markets Association (SIFMA).
Extensive Building Restoration and Modernization
Silverstein Properties completed a seven-year, $60 million program to restore the building's original splendor and elegance which resulted in a business environment that is architecturally striking as well as functionally dynamic. The renovations included restoration of 120 Broadway's decorative exterior terra cotta ornamentation, which had deteriorated due to the effects of time and exposure; restoration of the elegant, Beaux Arts marble lobby; and replacing over 5,000 windows with dual tilt thermopane windows to improve insulation and appearance, as well as reduce maintenance costs.
Also fully restored was the 38th floor sky lobby. This space mirrors the style of the ground floor lobby and originally served as the entrance to the elite Banker's Club.
The 40 passenger elevators have been computerized to function with new generation efficiency, and the interiors have been refurbished retaining the classic motif.
Notable History
The original Equitable Building opened in 1870. Seven stories tall and the first office structure with passenger elevators, it ushered in the era of the skyscraper. The building was an instant success - attracting crowds of New Yorkers who wanted to ride the elevators. Prospective tenants were wary though, to lease the uppermost floors. As an incentive, the builders persuaded the prestigious Delmonico's Restaurant to open an annex in the building, affording tenants private VIP status at their own club-like restaurant.
In 1912, the original building burned down and was replaced on the same site with the present 120 Broadway. This structure was the last skyscraper to be constructed before building regulations were instituted in New York. Reaching a height of 537 feet, this 40 story building cast a seven-acre shadow across the city, which caused public outrage when it was completed. As a result, New York City passed the 1916 Zoning Resolution which aimed at restricting the height and bulk of buildings and assuring the penetration of light and air to the streets below. These zoning codes implemented the building restrictions known as set-backs.
The new Equitable Building soared 40 stories, offered 40 acres of office space and boasted the most elevators - and was in fact the largest skyscraper of the time. The building's dedication also featured another first - it was the first office tower to have its cornerstone cemented into place by the Mayor of New York City. The Equitable Building was first owned by T. Coleman du Pont, real estate investor and member of the prominent du Pont family. At the encouragement of builders Thompson-Starret, du Pont invested $10 million in the structure which he fondly called the "du Pont Cottage."