120 Broadway: Out With The Old And In... %%page%% %%sep%% %%sitename%%

One of the most famous office buildings in Lower Manhattan, 120 Broadway aka the Equitable building, owned by real estate firm, Silverstein Properties, just completed its massive 50 million dollar renovation. A ribbon-cutting ceremony was held in celebration of the new designs Wednesday night, July 17, 2019. Redesigns were constructed by building tenant, Beyer Blinder Belle Architects, and Planners (BBB).

Photo courtesy of Silverstein Properties

Property owner and American businessman, Larry Silverstein, aimed to expand to the younger audience through the new designs within the lobby area and the buildings exterior materials. While renovating this entire building, much of the new renovations were also inspired by the original 1915 designs that architect Ernest R. Graham created for 120 Broadway, giving it a more modern and sophisticated taste. “The goal was to recreate what Ernest had designed throughout the building,” Carlos Cardoso, Director of Construction Administration for Beyer Blinder Belle Architects, and Planners said.

Renovations were done to the lobby, elevators, lighting, the 40th floor and more. The 40th floor and the rooftop were the most relevant areas to be redesigned since it is home to the Bankers Club, which was an exclusive club for professionals. The 40th floor has now been transformed into a rooftop lounge welcoming all tenants in the building to be able to enjoy the bar for food and drinks while resting on work breaks. The outdoor rooftop includes beautiful greenery and built-in seating to provide comfort and relaxation.

Equity Building — Photo courtesy of Silverstein Properties

The Equitable building was first designed by Ernest R. Graham in 1915 and stood to be the largest office building in the world until 1930. The Equitable Building is also very famous for changing the zoning laws in New York City due to problems with ventilation, transit facilities, local residents, and more. The building’s height made an impact on how sunlight could reach into the city which affected a lot of people. Many people around the area made complaints and city officials quickly became concerned. Later in 1981, Silverstein Properties, owned by Larry Silverstein, purchased the Equitable building and yesterday he was able to cut the ribbon in honor of the building’s new transformation.

With the continued renaissance right here in the birthplace of New York, Downtown just keeps getting better!

Just this month, the Downtown Alliance reported, Lower Manhattan recorded its strongest quarter of commercial leasing activity in seven years and outpaced the five-year quarterly average in Q2.

For 300 years Lower Manhattan has dominated the city’s economic life. At the start of the 1920’s this area took a detour to midtown. Fast forward after the September 11 attacks, Lower Manhattan was as at its lowest point. Shortly after, an article written by the Wall Street Journal quoted Larry Silverstein as saying that he felt a moral obligation to rebuild. “The city is not dead and can’t be allowed to die,” he said. “We owe it to our children and to our grandchildren.” His words ring true each and every day as we witness and enjoy Lower Manhattan’s trendy booming population, manicured neighborhoods, economic renaissance, and the arrival of new and exciting commercial properties.

AT 103 YEARS OLD, YOU’D NEED A FACELIFT, TOO.

In 1985 Silverstein Properties purchased 120 Broadway. Today 25 years later, 120 Broadway is returning to its original grandeur, offering soaring vaulted ceilings, gold leaf accents, marble floors, and hand-carved architectural detail, it has been an icon of classic style for over a century. This Beaux-Arts masterpiece, located in the heart of Lower Manhattan, is widely considered Downtown’s original symbol of power and stature. Now, the property is set to undergo a series of major capital improvements by Silverstein Properties.

This endeavor will focus on restoring the building to its original grandeur.

Equitable Building Returns to its Original Grandeur

120 Broadway was designated a National Historic Landmark in 1978. New York City landmark in 1996. It was restored in 1983–90 by Ehrenkrantz, Eckstut & Whitelaw. Peirce Anderson as the architect-in-charge completed the building in 1915. At the time it was the largest office building in the world by floor area. This building was built to be the headquarters of the Equitable Life Insurance Company.

120 Proposed retail — Equitable Building Returns to its Original Grandeur

This site had previously been intended in 1906 for a 62-story tower designed by Daniel H. Burnham, but the project had been postponed. When the Equitable’s previous headquarters, the Equitable Life Building was destroyed by fire in 1912. 120 Broadway was chosen as the location for its new headquarters building. It was originally intended to be 40 stories high, but it was reduced by four floors on the advice of consulting engineer Charles Knox, who determined the lower height as being optimal for its elevators.

Bike Storage 120 Broadway — Equitable Building Returns to its Original Grandeur

Tenants will experience modern luxuries, including – rooftop terrace, tenant lounge & cafe, and for the many NewYorkers who ride to work, a bike storage with locker room & showers. New elevator cab finishes, turnstiles going into the elevators, retail renovation and activation, and a grand entryway are some of the planned updates.

120 Broadway Tennent Rooftop Amenities — Equitable Building Returns to its Original Grandeur

Rising 40 stories, the building spans a full city block bordered by Broadway and Nassau, Pine and Cedar Streets. The property has 1.9 million square feet of space, accentuated by a grand lobby with soaring ceiling heights and generously-proportioned 50,000 square foot floor plates.

120 Broadway Street View — Equitable Building Returns to its Original Grandeur

LEASING CONTACTS

Roger A. Silverstein212.732.9700 rsilverstein@silvprop.com
Joseph J. Artusa212.551.7318 jartusa@silvprop.com
Camille McGratty212.551.7376 cmcgratty@silvprop.com
Harlan Strader III212.551.7374 hstrader@silvprop.com