Brookfield Place (New York City)

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Coordinates: 40°42′47″N74°00′56″W / 40.71306°N 74.01556°W / 40.71306; -74.01556

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Contents

Brookfield Place (as the World Financial Center) as it appeared in April 2011. One World Trade Center is being constructed in the background, behind the Brookfield Place towers. World Financial Center NY 2011.jpg
Brookfield Place (as the World Financial Center) as it appeared in April 2011. One World Trade Center is being constructed in the background, behind the Brookfield Place towers.

Brookfield Place, built as and still commonly referred to as the World Financial Center, is a shopping center [1] and office-building complex located across West Street from the World Trade Center in the Battery Park City neighborhood of Manhattan, New York City. Overlooking the Hudson River, Brookfield Place has been home to offices of various companies including Merrill Lynch, RBC Capital Markets, Nomura Group, American Express, Bank of New York Mellon, Time Inc. and Brookfield Asset Management, among others. In 2014, the complex was given its current name following the completion of extensive renovations.

West Side Highway Boulevard in Manhattan, New York

The West Side Highway is a mostly surface section of New York State Route 9A (NY 9A) that runs from West 72nd Street along the Hudson River to the southern tip of Manhattan in New York City. It replaced the West Side Elevated Highway, built between 1929 and 1951, which was shut down in 1973 due to neglect and lack of maintenance, and was dismantled by 1989. The term "West Side Highway" is often mistakenly used to include the roadway north of 72nd Street, which is properly known as the Henry Hudson Parkway.

Battery Park City Neighborhood of Manhattan in New York City

Battery Park City is a mainly residential 92-acre (37 ha) planned community on the west side of the southern tip of the island of Manhattan in New York City. It is bounded by the Hudson River on the west, the Hudson River shoreline on the north and south, and the West Side Highway on the east.

Manhattan Borough in New York City and county in New York, United States

Manhattan, often referred to locally as the City, is the most densely populated of the five boroughs of New York City and its economic and administrative center, cultural identifier, and historical birthplace. The borough is coextensive with New York County, one of the original counties of the U.S. state of New York. The borough consists mostly of Manhattan Island, bounded by the Hudson, East, and Harlem rivers; several small adjacent islands; and Marble Hill, a small neighborhood now on the U.S. mainland, physically connected to the Bronx and separated from the rest of Manhattan by the Harlem River. Manhattan Island is divided into three informally bounded components, each aligned with the borough's long axis: Lower, Midtown, and Upper Manhattan.

Ownership and structure

200 Vesey Street 3 World Financial Center.jpg
200 Vesey Street

Brookfield Place is owned by Toronto-based Brookfield Office Properties, [2] except for the spaces occupied by American Express, which is owned by the American Express Company. Brookfield Place also serves as the United States headquarters for Brookfield Office Properties, which has its headquarters located in 250 Vesey Street. [3] [4] Brookfield Place also has its own zip code, 10281. The building's original developer was Olympia and York also based in Toronto. [2]

Toronto Provincial capital city in Ontario, Canada

Toronto is the provincial capital of Ontario and the most populous city in Canada, with a population of 2,731,571 in 2016. Current to 2016, the Toronto census metropolitan area (CMA), of which the majority is within the Greater Toronto Area (GTA), held a population of 5,928,040, making it Canada's most populous CMA. Toronto is the anchor of an urban agglomeration, known as the Golden Horseshoe in Southern Ontario, located on the northwestern shore of Lake Ontario. Toronto is an international centre of business, finance, arts, and culture, and is recognized as one of the most multicultural and cosmopolitan cities in the world.

Brookfield Office Properties Inc. is a North American commercial real estate company, wholly owned by Brookfield Property Partners. The company has corporate offices in New York, Toronto, London and Sydney.

American Express American multinational financial services corporation

The American Express Company, also known as Amex, is an American multinational financial services corporation headquartered in Three World Financial Center in New York City. The company was founded in 1850 and is one of the 30 components of the Dow Jones Industrial Average. The company is best known for its charge card, credit card, and traveler's cheque businesses.

The buildings are:

200 Liberty Street skyscraper in New York City

200 Liberty Street, formerly known as One World Financial Center, is a skyscraper in Lower Manhattan, New York City.

225 Liberty Street skyscraper in New York City

225 Liberty Street, formerly Two World Financial Center, is one of the tallest skyscrapers in New York City, located at 225 Liberty Street in the Financial District of the New York City borough of Manhattan. Rising 645 feet, the building is the second tallest of the four buildings in the World Financial Center complex that stands in southwest Manhattan, and the 97th tallest in the city. It is similar in design to 200 Vesey Street, except that its roof is dome-shaped rather than 3 WFC's solid pyramid design. It is notably similar in design to One Canada Square in London's Canary Wharf development. Canary Wharf was, like the World Financial Center, a project by Canadian developers Olympia and York, and One Canada Square was designed by the same architects.

200 Vesey Street skyscraper in New York City

200 Vesey Street, formerly known as Three World Financial Center and also known as American Express Tower, is a skyscraper in Lower Manhattan, New York City. Located on West Street between Liberty Street and Vesey Street, the 739-foot (225 m) building is the tallest in the Brookfield Place complex. It is similar in design to 225 Liberty Street, except that it is capped by a solid pyramid whereas 225 Liberty is capped by a dome.

History

The complex viewed from the World Trade Center in August 1992 NYfromWTC2.jpg
The complex viewed from the World Trade Center in August 1992

Designed by architect César Pelli, [6] with Adamson Associates, the World Financial Center complex was built by Olympia and York between 1982 and 1988 [7] on landfill used to build Battery Park City. [8] The fill material consisted of dirt excavated during the building of the World Trade Center, as well as garbage and other debris.[ citation needed ]

During the September 11 attacks in 2001, Three World Financial Center had a massive piece of steel shot into its east side, and other debris severely damaged the lobby and lower floors causing the building to be in danger of collapse. It has since been fully restored and significant repairs were made to the other buildings in the complex. The Winter Garden Atrium received major structural damage to its glass and steel frame, but ceremonially reopened on September 11, 2002. [9]

After the attacks, the World Financial Center underwent a $250 million renovation and expansion project, in conjunction with the construction of a new east-west passageway linking the complex with the World Trade Center site. [10] The project included a transit pavilion to be built as an extension of the existing Winter Garden Atrium, on the West Street side. Preliminary plans called for the demolition of the Grand Staircase, which was the main focal entry point to Winter Garden and the waterfront, as it connected to the Vesey Street pedestrian bridge adjacent to the original World Trade Center. The Grand Staircase has also been used as an amphitheater; thus, the plans for demolition had outraged residents, who promptly appealed for its preservation in the latest redevelopment plans. The transit pavilion opened in 2013, and is located at 100 West Street. [11] [12]

Leasable space on the lower floors of the office towers underwent conversions and expansion to accommodate new retail. One notable example is 2 Brookfield Place: a European-style marketplace and dining terrace opened in 2013. The space between 3 and 4 Brookfield Place, at 225 Vesey Street, which contained retail, expanded to accommodate in‑line retail and high-end fashion retail, according to the plans and renderings. With some restaurants and retail temporarily closed due to construction, a food truck court was in operation beginning in early 2012 on North End Avenue. Various food trucks that operate around New York City, serving a variety of foods, service the Brookfield Place/Battery Park City area five days a week during lunch hours. [13] A new 2,000-seat food court comprising existing restaurants, such as Le District and Hudson Eats, and new restaurants, opened in stages between November 2014 and March 2015; the food area is projected to generate about $12 million of revenue annually. [14] [15] Overall, the intent is to drive more tourism in the area with the retail and the new access to the passageway under West Street. It is also being developed as a catalyst to integrate and drive development in the Battery Park City area, of which the World Financial Center sits promptly in between the largely residential neighborhood. [16]

Brookfield Properties bought the adjacent One North End Avenue building, headquarters of the New York Mercantile Exchange, in 2013, for US$200 million, and integrated it into the complex. [17] Following expansion, the entire World Financial Center complex was renamed Brookfield Place, in conjunction with similar complexes in Toronto, Calgary, and Perth owned by Brookfield. The name change took place in 2014. [18]

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Winter Garden Atrium

The Winter Garden Atrium is a 10-story glass-vaulted pavilion on Vesey Street in New York City's Brookfield Place office complex. Designed by Diana Balmori, the Atrium was originally constructed in 1988, and substantially rebuilt in 2002, the Atrium houses various plants, trees and flowers, and shops. The rear of the building opens onto the World Financial Center Plaza and the North Cove Yacht Harbor on the Hudson River.

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Brookfield Property Partners L.P. is a global company which owns, operates and invests in commercial property. The majority of the company’s assets are located in North America, Europe, and Australia.

References

  1. LAUREN SHERMAN, Inside the Reinvention of Saks Fifth Avenue SEPTEMBER 6, 2016
  2. 1 2 Holusha, John (1996-12-15). "From Olympia & York Bankruptcy, a New Company". The New York Times. ISSN   0362-4331 . Retrieved 2016-06-22.
  3. "World Financial Center and Winter Garden New York City.com : Arts & Attractions : Editorial Review". Nyc.com. Retrieved 2012-08-18.
  4. "about". Worldfinancialcenter.com. Retrieved 2012-08-18.
  5. "Brookfield Place/200 Liberty St" . Retrieved 10 April 2016.
  6. "The World Financial Center". www.batteryparkcity.org/. Archived from the original on 26 September 2012. Retrieved 29 September 2015.
  7. "Paul Reichmann, Who Helped Develop the World Financial Center, Dies at 83". www.nytimes.com. New York Times. Retrieved 29 September 2015.
  8. "BATTERY PARK CITY: NEW YORK'S NEWEST NEIGHBORHOOD; To the Heights of Simplicity". www.nytimes.com/. Retrieved 29 September 2015.
  9. "World Financial Center, New York City". Aviewoncities.com. 2001-09-11. Retrieved 2012-08-18.
  10. "Lower Manhattan : News | World Financial Center Pavilion Plans Unveiled". Lowermanhattan.info. 2011-06-24. Archived from the original on 2012-01-04. Retrieved 2012-08-18.
  11. "Renovation Updates". Worldfinancialcenter.com. Retrieved 2013-01-12.
  12. https://web.archive.org/web/20120104094650/http://worldfinancialcenter.com/
  13. "Food truck court schedule". Worldfinancialcenter.com. 2012-04-27. Retrieved 2012-08-18.
  14. Steve Cuozzo (April 21, 2014). "Brookfield's $250M development rocks downtown". New York Post . Retrieved August 22, 2014.
  15. "Brookfield Place". Brookfield Place New York. Retrieved 10 April 2016.
  16. "WFC 2013 Vision". Worldfinancialcenter.com. Retrieved 2012-08-18.
  17. Levitt, David M (2013-11-26). "Brookfield Buys Manhattan's Nymex Building From CME Group". Bloomberg.
  18. "Archived copy". Archived from the original on 2013-03-02. Retrieved 2013-02-26.CS1 maint: Archived copy as title (link)