:City Investing Building

The City Investing Building was in the Financial District of Lower Manhattan, with frontage on Church Street to the west,{{efn|Church Street forms a continuous street with Trinity Place, which continues southward at Liberty Street, one block south of the City Investing Building's former site.{{Cite web|title=NYCityMap|url=http://maps.nyc.gov/|access-date=March 20, 2020|website=NYC.gov|publisher=New York City Department of Information Technology and Telecommunications|archive-date=February 19, 2021|archive-url=https://web.archive.org/web/20210219214900/http://maps.nyc.gov/doitt/nycitymap/|url-status=live}} Some sources refer to the section of the street outside the City Investing Building's site as Trinity Place, while others refer to it as Church Street.}} Cortlandt Street to the north, and Broadway to the east. The City Investing Building had a frontage of {{Convert|209|ft||abbr=}} on Cortlandt Street, {{Convert|109|ft||abbr=}} on Church Street and Trinity Place, and {{Convert|37.5|ft||abbr=}} on Broadway.{{cite news|date=December 19, 1919|title=City Investing Building Sold to a Russian|page=1|work=New York Herald|url=https://www.newspapers.com/clip/60469735/|access-date=October 4, 2020|via=newspapers.com|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184204/https://www.newspapers.com/clip/60469735/city-investing-building-sold-to-a/|url-status=live}}{{harvnb|Engineering Record|1906|ps=.|p=566}} It had a depth of {{Convert|313|ft||abbr=}}, abutting the Singer Building to the south.{{harvnb|Landau|Condit|1996|ps=.|p=323}} The site slopes down from Broadway to Church Street, so that there was a raised basement facing Church Street, which was below ground at Broadway.{{harvnb|Engineering Record|1907|ps=.|p=268}}

The City Investing Building's northeastern section wrapped around a real estate holdout, the Gilsey Building (also the Wessels Building or Benedict Building), at the southwestern corner of Cortlandt Street and Broadway.{{harvnb|Engineering Record|1907|ps=.|p=267}} The Gilsey Building had a frontage of {{Convert|56.5|ft||abbr=}} on Broadway and {{Convert|106|ft||abbr=}} on Cortlandt Street. The City Investing Building's original owner, the City Investing Company, held a long-term lease for the Gilsey Building, which would have eventually been demolished to make way for an addition to the City Investing Building.{{harvnb|Landau|Condit|1996|ps=.|pp=324–325}}{{cite magazine|last=Kimball|first=Francis H.|date=May 1908|title=City Investing Building|url=https://books.google.com/books?id=5p9AAQAAMAAJ|journal=The New York Architect|publisher=Harwell-Evans Company|volume=2|issue=5|access-date=October 6, 2020|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184204/https://books.google.com/books?id=5p9AAQAAMAAJ|url-status=live}} To the south, there was a gap of {{Convert|10|ft||abbr=}} between the City Investing Building and the Singer Tower addition to the Singer Building, which was built nearly simultaneously with the City Investing Building. The narrowness of the gap was a result of a design choice by the Singer's architect, Ernest Flagg. The columns required to support the Singer Tower would have been too large to place atop the original Singer Building, at the south end of the same block near Liberty Street.{{Cite news|last=Gray|first=Christopher|date=March 29, 2012|title=The Hemming In of the Singer Tower|language=en-US|work=The New York Times|url=https://www.nytimes.com/2012/04/01/realestate/streetscapes-readers-questions-the-singer-tower-all-hemmed-in.html|access-date=October 3, 2020|issn=0362-4331|archive-date=June 2, 2019|archive-url=https://web.archive.org/web/20190602090534/https://www.nytimes.com/2012/04/01/realestate/streetscapes-readers-questions-the-singer-tower-all-hemmed-in.html|url-status=live}}

File:Singer City Investing Hudson Terminal 1909 crop.jpg (right), the Singer Building (middle back, the tallest structure) and the City Investing Building (middle front, slanted roof on tallest extension)]]

The City Investing Building was designed by Francis H. Kimball.{{Cite news|date=December 19, 1919|title=165 Broadway Sold to London Banker; City Investing Building, Assessed at $7,000,000, Bought by Grigori Benenson.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1919/12/19/archives/165-broadway-sold-to-london-banker-city-investing-building-assessed.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184204/https://www.nytimes.com/1919/12/19/archives/165-broadway-sold-to-london-banker-city-investing-building-assessed.html|url-status=live}}{{harvnb|Landau|Condit|1996|ps=.|p=324}}{{harvnb|Engineering Record|1906|ps=.|p=568}} The general contract was awarded to the Hedden Construction Company and the contract for the foundation work was given to the O'Rourke Engineering and Contracting Company. In addition, Weiskopf and Stern were consultants for the steel frame, Griggs and Holbrook were consultants for steam and electricity, and William C. Tucker was consulting sanitary engineer.{{harvnb|Landau|Condit|1996|ps=.|p=437}} The steel was made by the American Bridge Company and erected by Post and McCord. The stonework came from William Bradley & Sons; the ornamental ironwork from Hecla Iron Works; the terracotta and other tilework from the National Fireproofing Company; the plumbing from Wells and Newton; and the marble work from J. H. Shipway and Bros.

The City Investing Building's facade was divided into three horizontal sections: a base with four stories and a raised basement; a shaft with 21 stories and a full-height cornice; and a capital with six stories and an attic. There was also a cellar below the raised basement.{{harvnb|Landau|Condit|1996|ps=.|p=326}}{{harvnb|ps=.|Broadway–Cortlandt Company|1907|p=14}} The City Investing Building rose {{Convert|486|ft||abbr=}} above Broadway. Sources differ on how many stories the building had. An official building brochure and the Engineering Record described the building as having 32 stories, as counted from Broadway, although this excluded the attic. The Real Estate Record and Guide described the building as rising 33 stories, as counted from Church Street, but excluding the attic.{{harvnb|Real Estate Record|1908|ps=.|p=38}} Yet another source gave the height as {{Convert|480|ft||abbr=}} with 34 stories, including the attic.{{cite book|last=Gabrielan|first=Randall|url=https://books.google.com/books?id=kd_Vss0vkmoC&pg=PA34|title=Along Broadway|publisher=Arcadia Pub.|year=2007|isbn=978-0-7385-5031-2|series=Postcard History Series|page=34|access-date=October 6, 2020|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184210/https://books.google.com/books?id=kd_Vss0vkmoC&pg=PA34|url-status=live}}

The City Investing Building was largely shaped in an "F", with the two northward "prongs" of the "F" flanking a {{Convert|40|by|65|ft|abbr=|adj=on}} light court on Cortlandt Street. The light court rose above the second story on the Cortlandt Street elevation. A wing ran eastward to Broadway, between the Gilsey and Singer buildings. The bulk of the building, comprising the base and shaft, consisted of 25 occupiable stories above Broadway, plus a 26th story in the cornice. The "prongs" on Cortlandt Street were designed as narrow towers terminating at the 26th story. Above the Broadway wing, the 26th story was topped by a series of engaged columns with a belvedere at the center. A flat roof rose above much of the 26th story. The central section of the building, recessed from the light court on Cortlandt Street, rose six additional stories into the capital, with an ornate gable roof made of copper. A smaller gable rose to the 31st floor directly to the east.

File:Historic American Buildings Survey, September 1967, DETAIL OF EAST (BROADWAY) ENTRANCE. - City Investing Building, New York, New York County, NY HABS NY,31-NEYO,80-2.tif

The five-story base was clad with light stone, while the shaft and capital were decorated with white brick and terracotta. Porcelain and enamel brick were used to reduce cleaning costs, since that type of brick did not discolor over time.{{cite magazine|date=August 27, 1910|title=Building Material and Equipment|url=https://rerecord.library.columbia.edu/pdf_files/ldpd_7031148_046_9.pdf|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=86|pages=346–347|via=columbia.edu|number=2215|access-date=October 6, 2020|archive-date=October 9, 2020|archive-url=https://web.archive.org/web/20201009052902/https://rerecord.library.columbia.edu/pdf_files/ldpd_7031148_046_9.pdf|url-status=live}}

The main entrance was at Broadway and contained a semicircular-headed opening. The fourth floor was topped by a large cornice that was at the same level as the roof of the six-story Gilsey Building. Robert E. Dowling, the building's developer, hired Vincenzo Alfano to design sculptural groups for the facade.{{cite news|date=July 4, 1907|title='Tip The Horn Up': Mr. Dowling Didn't Like to See His Money Falling Into Street|page=12|work=New-York Tribune|issn=1941-0646|url=https://www.newspapers.com/clip/60642440/|access-date=October 6, 2020|via=newspapers.com|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184236/https://www.newspapers.com/clip/60642440/tip-the-horn-up-mr-dowling-didnt/|url-status=live}}

The 5th through 25th floors contained window bays, which generally contained two or three windows on each story. The corner bays on the "prongs" facing Cortlandt Street contained one window per floor. At various points on the facade, some of the center bays on each side contained groupings of several stories, each of which contained engaged columns and balconies. There were also horizontal belt courses between several stories. The 26th floor was inside the cornice.

The City Investing Building used a steel frame with concrete-slab floors, terracotta floor arches and partitions, and interior marble work. When completed, the building was said to weigh {{Convert|86000|ST|LT|abbr=}}, excluding live loads.{{harvnb|Landau|Condit|1996|ps=.|p=325}} The steel frame alone weighed {{Convert|12000|ST|LT t|abbr=}}. As completed, the building used 9.1 million bricks, 25,000 lighting fixtures, {{Convert|3000|ST|LT t|abbr=}} of terracotta, about {{Convert|2,600,000|ft2||abbr=}} of plaster, about {{Convert|1870000|ft2||abbr=}} of hollow tile, {{Convert|8170000|lb||abbr=}} of marble, and about 21.8 million mosaic cubes. Also included in the building was many miles of plumbing, steam piping, wood base, picture molding, conduits, and electrical wiring.{{harvnb|Real Estate Record|1908|ps=.|pp=38–39}}{{cite news|date=June 28, 1908|title=Buildings as Big as a Town|page=22|work=New York Sun|url=https://www.newspapers.com/clip/57353608/|access-date=August 13, 2020|via=newspapers.com|archive-date=February 28, 2022|archive-url=https://web.archive.org/web/20220228143957/https://www.newspapers.com/clip/57353608/buildings-as-big-as-a-town/|url-status=live}} The building contained woodwork made of fireproofed mahogany.

The superstructure consisted of a steel cage wherein the columns at every story supported the walls. The columns, in turn, sat on cast-steel pedestals, which transmitted their loads through girders and grillages. There were 89 columns on each floor, arranged in six rows. The largest column carried a load of {{Convert|1719|ST|LT t|abbr=}} and had a cross section of {{Convert|253.9|in2||abbr=}}. The floors consisted of hollow-tile flat arches or concrete with cinder filling, and were surfaced with mosaic or terrazzo tiles.{{harvnb|Engineering Record|1906|ps=.|pp=566–567}} The distributing girders on the third story of the Broadway wing were the largest and heaviest to be used in the building; they comprised a triple girder weighing about {{Convert|105|ST|LT t|abbr=}} and spanning the entire {{Convert|37|ft||abbr=|adj=on}} width of that wing.{{harvnb|Engineering Record|1907|ps=.|p=696}} Portal braces and curved knee braces were included to provide wind resistance, but also contributed to the building's weight.

The exterior walls were curtain walls whose thicknesses had been prescribed by city building codes of the time. The south wall was generally {{Convert|32|in||abbr=}} thick at the base, tapering to {{Convert|12|ft||abbr=}} just below the 25th floor. The other walls varied in thickness from 32 inches at the base to {{Convert|20|in||abbr=}} below the 25th floor. There were also two walls carried atop the third-floor girders, which extended to the 27th and 32nd floors.{{harvnb|Engineering Record|1906|ps=.|p=567}}

The foundation was excavated using rectangular caissons of varying width.{{harvnb|Engineering Record|1907|ps=.|p=269}} The pits were drilled through layers of earth, quicksand, clay, gravel, and water to a solid rock layer {{Convert|80|ft||abbr=}} beneath Broadway. The main excavation was carried to {{Convert|24|ft||abbr=}} below Broadway, except at the site of the boiler room, where the excavations were carried {{Convert|30|ft||abbr=}} deep. Each caisson was {{Convert|12.33|ft|0|abbr=}} and made of yellow pine. A steel shaft rose from each of the caissons. The underlying ground was drawn out from the caissons, and then the caissons were filled with concrete.{{harvnb|Engineering Record|1907|ps=.|pp=269–270}} The retaining walls of the foundation were then constructed of concrete slabs between I-beams spaced {{Convert|5|ft||abbr=}} apart. The excavation involved removing {{Convert|4500|yd3||abbr=}} of masonry and {{Convert|11000|yd3||abbr=}} of earth, while the foundation piers used {{Convert|11000|yd3||abbr=}} of concrete. Sections of the masonry basement floors from the previous buildings on the site were also removed in the process.{{harvnb|Engineering Record|1907|ps=.|pp=267–268}}

Within the foundation were placed 59 concrete piers, which carried the columns of the aboveground superstructure. The cross-sections of the piers varied, with the smallest measuring {{Convert|6|by|6|ft|abbr=}}, and the largest measuring {{Convert|8.5|by|37.33|ft|1|abbr=}}. The caissons supported foundation piers that were topped by plates with grillages of transversely laid I-beams. Most of the superstructure's exterior columns were supported on cantilevers; deep plate girders were placed over the grillages, and the cantilevers extended outward from these girders, where they supported the columns. The foundation also used distributing girders, some of which were triple girders weighing {{Convert|90|ST|LT t|abbr=}}. The cellar floor was poured as a single layer of concrete, {{Convert|6|ft||abbr=}} thick. This helped distribute the building loads and counteracted the upward hydrostatic pressure.

File:City Investing Building, Broadway-Cortlandt and Church streets. (1907) (14743083216).jpg

The City Investing Building was one of New York City's largest office buildings at the time of its completion,{{Cite news|last=Gray|first=Christopher|date=August 29, 2013|title=Twins, Except Architecturally|language=en-US|work=The New York Times|url=https://www.nytimes.com/2013/09/01/realestate/twins-except-architecturally.html|access-date=October 3, 2020|issn=0362-4331|archive-date=October 19, 2018|archive-url=https://web.archive.org/web/20181019041113/https://www.nytimes.com/2013/09/01/realestate/twins-except-architecturally.html|url-status=live}} with an estimated {{Convert|12|acre|m2 ft2|abbr=}} of floor area. Generally, there was more space on higher stories than on lower stories, largely because the building's elevators were staggered into three banks serving different sets of floors. The 5th through 9th floors typically had {{Convert|17600|ft2||abbr=}} per floor; the 10th through 17th floors each had {{Convert|18500|ft2||abbr=}}; and the 18th through 25th floors each had {{Convert|19500|ft2||abbr=}}. However, the 27th through 31st floors, located in the smaller "capital" of the building, typically had {{Convert|5200|ft2||abbr=}}.{{harvnb|Broadway–Cortlandt Company|1907|ps=.|pp=18, 20, 22, 24}} On the top of the building was a luncheon club.{{Cite news|date=February 28, 1907|title=For a New Luncheon Club.; It Will Occupy the 25th Floor of the City Investing Building.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1907/02/28/archives/for-a-new-luncheon-club-it-will-occupy-the-25th-floor-of-the-city.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184206/https://www.nytimes.com/1907/02/28/archives/for-a-new-luncheon-club-it-will-occupy-the-25th-floor-of-the-city.html|url-status=live}}

The entrance arch on Broadway led to a limestone vestibule about {{Convert|30|ft||abbr=}} deep, which contained the main doors. Inside the vestibule was a double-height lobby running westward to the elevated Cortlandt Street station of the Interborough Rapid Transit Company's Sixth Avenue Line at Church Street. It measured {{Convert|40|ft||abbr=}} tall and {{Convert|32|ft||abbr=}} wide. The arched ceiling of the lobby was decorated with colorful frescoes. The lobby was clad throughout with several types of Italian marbles. Three elevator banks extended from the southern wall of the lobby. The second floor contained offices north of the lobby, and a footbridge was placed across the lobby to connect the elevators and offices.

The upper floors typically had a west–east elevator hallway along the southern wall, with the other areas being used for rental space. Generally, the ceiling heights of the lower stories were higher than on the upper stories. The first story had a ceiling of {{Convert|22|ft||abbr=}}, the second story {{Convert|20|ft||abbr=}} and the third story {{Convert|16.5|ft||abbr=}}. Most of the subsequent stories had ceiling heights of between {{Convert|11|and|14|ft|abbr=}}, although the 26th floor had a ceiling of {{Convert|16|ft||abbr=}}. The basement, at ground level at Church Street, had a ceiling of {{Convert|13|ft||abbr=}} and the cellar had a ceiling of {{Convert|24|ft||abbr=}}.

A {{Convert|32000|ft2||abbr=|adj=on}} cellar extended under the Broadway sidewalk, and contained the building's boiler room. The boiler plant was capable of an output of {{Convert|2000|hp||abbr=}}. The building also had a water system that could filter {{Convert|864000|gal||abbr=|sp=us}} per day and its plumbing system could pump out five times as much. There were two water tanks: one had a capacity of {{Convert|12500|gal||abbr=|sp=us}} and was used for fire protection, while the other had a capacity of {{Convert|9000|gal||abbr=|sp=us}} and served the clients. Also in the building was an electric light plant.

{{Anchor|Elevators}}The building contained 24 elevators in total. From the lobby, there were 21 plunger elevators for passengers and 2 electric elevators for freight. The plunger elevators were made by the Standard Plunger Company and the electric elevators were made by Otis Elevator. The elevators were placed in three banks the south side of the building, along the section facing the Singer Tower.{{harvnb|Broadway–Cortlandt Company|1907|ps=.|p=16}} Seven elevators served all the floors from the lobby to the 9th story; another seven ran express from the lobby to the 9th story, then served all floors through the 17th; and the final seven ran express from the lobby to the 17th story, then served all floors to the 26th.{{efn|The bank of elevators running to the 9th story was arranged in an arc between the two banks of express elevators, which were arranged in a straight line. The bank of elevators running to the 17th story was on the western section of the building's southern wall, while the bank of elevators to the 26th story was on the eastern section of the same wall.}} A separate elevator served the 25th through 32nd stories. Two staircases ran between the basement and 25th floor, with another staircase running to the 32nd floor.{{harvnb|Real Estate Record|1908|ps=.|p=39}}

The City Investing Building was developed by Robert E. Dowling, who in the first decade of the 20th century was also developing the Trinity and United States Realty Buildings nearby.{{harvnb|Landau|Condit|1996|ps=.|pp=323–324}} Dowling was the president of the City Investing Company, a conglomerate that had split from the United States Realty and Construction Company in late 1904. By early 1906, he had hired Kimball,{{cite magazine|date=February 24, 1906|title=Prospective Building|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_037&page=ldpd_7031148_037_00000379&no=15|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=77|pages=641|via=columbia.edu|number=1980|access-date=October 6, 2020|archive-date=October 9, 2020|archive-url=https://web.archive.org/web/20201009075221/https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_037&page=ldpd_7031148_037_00000379&no=15|url-status=live}} who at the time was well known for constructing other bulky skyscrapers whose construction required pneumatic caissons. Dowling intended the building to include large floors for the growing number of tenants who sought large amounts of office space on a single floor.{{cite news|date=March 25, 1906|title=Thirty-Story City Investing Building|page=19|work=The New York Times|url=https://www.newspapers.com/clip/60470720/|access-date=October 4, 2020|issn=0362-4331|via=newspapers.com|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184236/https://www.newspapers.com/clip/60470720/thirty-story-city-investing-building/|url-status=live}}{{harvnb|Real Estate Record|1908|ps=.|p=17}} Dowling also wanted a building with a grand lobby and 21 tenant elevators.

File:SingerBuildingView.jpg (left) from the north. At far left is the St. Paul Building.]]

The City Investing Company bought the Coal and Iron Exchange Building{{efn|Also known as the Delaware and Hudson Canal Company building{{cite book|last=King|first=Moses|url=https://books.google.com/books?id=MEEAAAAAYAAJ&pg=PA130|title=Kings Handbook of New York City|publisher=Moses King|year=1893|series=King's Handbook of New York City: An Outline History and Description of the American Metropolis ; with Over One Thousand Illustrations|page=130|issue=v. 1|access-date=October 6, 2020|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184206/https://books.google.com/books?id=MEEAAAAAYAAJ&pg=PA130|url-status=live}}}} at Church and Cortlandt Streets in January 1906.{{Cite news|date=January 13, 1906|title=City Investing Co. Buys Coal and Iron Exchange; Ranks With Big Insurance Companies in Downtown Holdings. D. And H. To Move to Albany the Investing Company Will Not Replace Its Block Square Building With a Skyscraper at Present.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1906/01/13/archives/city-investing-co-buys-coal-and-iron-exchange-ranks-with-big.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184207/https://www.nytimes.com/1906/01/13/archives/city-investing-co-buys-coal-and-iron-exchange-ranks-with-big.html|url-status=live}} It bought further land on Cortlandt Street the same April.{{Cite news|date=April 5, 1906|title=In the Real Estate Field; City Investing Company Buys on Cortlandt Street – East Side Residences in Demand – Dealings by Brokers and at Auction.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1906/04/05/archives/in-the-real-estate-field-city-investing-company-buys-on-cortlandt.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184207/https://www.nytimes.com/1906/04/05/archives/in-the-real-estate-field-city-investing-company-buys-on-cortlandt.html|url-status=live}} The general construction contract was given to the Hedden Construction Company in September 1906.{{cite magazine|date=September 8, 1906|title=Hedden Construction Co, Will Build the Broadway–Cortlandt|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_038&page=ldpd_7031148_038_00000448&no=3|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=78|pages=448|via=columbia.edu|number=2008|access-date=October 6, 2020|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184213/https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_038&page=ldpd_7031148_038_00000448&no=3|url-status=live}} The next month, there circulated rumors that the City Investing Building would rise to 39 stories—one less than the Singer Tower to the south, which was simultaneously being erected as the world's tallest building—but this modification did not happen.{{cite magazine|date=October 20, 1906|title=Broadway–Cortlandt May Go as High as the New Singer|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_038&page=ldpd_7031148_038_00000687&no=1|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=78|pages=641|via=columbia.edu|number=2014|access-date=October 6, 2020|archive-date=October 7, 2020|archive-url=https://web.archive.org/web/20201007185230/https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_038&page=ldpd_7031148_038_00000687&no=1|url-status=live}} Demolition of buildings on the City Investing Building's site proceeded through 1906. The Coal and Iron Exchange Building took five months to destroy, because of the extremely thick materials it used; it was demolished by October 1906,{{Cite news|date=October 7, 1906|title=Building Wreckers Thwarted for Months|language=en-US|work=The New York Times|url=https://www.nytimes.com/1906/10/07/archives/building-wreckers-thwarted-for-months-coal-iron-exchange-down-at.html|access-date=October 6, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184208/https://www.nytimes.com/1906/10/07/archives/building-wreckers-thwarted-for-months-coal-iron-exchange-down-at.html|url-status=live}} although its cornerstone was not retrieved until June 1907.{{cite news|date=June 27, 1907|title=Prophecies in Box: Contents of Cornerstone of Coal and Iron, Building Revealed|page=7|work=New-York Tribune|issn=1941-0646|url=https://www.newspapers.com/clip/60641976/|access-date=October 5, 2020|via=newspapers.com|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184241/https://www.newspapers.com/clip/60641976/prophecies-in-box-contents-of/|url-status=live}}

Excavation of the foundations began in November 1906, with an average of 275 workers during the day shift and 100 workers during the night shift.{{harvnb|Engineering Record|1907|ps=.|p=270}} The excavation was required to be completed in 120 days. To remove the spoils from the foundation, three temporary wooden platforms were constructed to street level. Hoisting engines were installed to place the beams for the foundation, while the piers were sunk into the ground under their own weight. Because of the lack of space in the area, the contractors' offices were housed beneath the temporary platforms. During the process of excavation, the Gilsey Building's foundations were underpinned or shored up, because that building had relatively shallow foundations descending only {{Convert|18|ft||abbr=}} below Broadway.

After the foundations were completed, a light wooden falsework was erected on the Broadway wing to support the traveler, which contained two derricks to erect the massive girders in that section. The traveler was moved deeper into the lot as the girders were erected. The girders were erected quickly at night, with 16 girders and 20 columns being erected in a week.{{harvnb|Engineering Record|1907|ps=.|p=697}} A worker was killed during construction when a temporary floor collapsed in June 1907.{{cite news|date=June 13, 1907|title=One Killed; Three Hurt: Temporary Floor in Broadway–Cortlandt Building Collapses|page=3|work=New-York Tribune|issn=1941-0646|id={{ProQuest|572013533}}}}{{Cite news|date=June 13, 1907|title=Four Men Buried in Cement; 1 Dead|language=en-US|work=The New York Times|url=https://www.nytimes.com/1907/06/13/archives/four-men-buried-in-cement-1-dead-dozen-tons-of-the-stuff-falls-on.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 9, 2020|archive-url=https://web.archive.org/web/20201009010127/https://www.nytimes.com/1907/06/13/archives/four-men-buried-in-cement-1-dead-dozen-tons-of-the-stuff-falls-on.html|url-status=live}} The building was completed in a then-record 22 months, having employed 3,000 workers.

Tenants started moving into the building in April 1908.{{cite news|date=April 22, 1908|title=New York Air Brake.: President Starbuck Says Company Has Received a Number of New Orders the Last Ten Days.|page=2|work=The Wall Street Journal|issn=0099-9660|id={{ProQuest|129140928}}}}{{cite magazine|date=May 30, 1908|title=Brief and Personal|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_041&page=ldpd_7031148_041_00001055&no=13|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=81|pages=1015|via=columbia.edu|number=2098|access-date=October 6, 2020|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184219/https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_041&page=ldpd_7031148_041_00001055&no=13|url-status=live}} Early tenants of the City Investing Building included the Interborough Rapid Transit Company, Midvale Steel, the American Car and Foundry Company, the Southern Pacific Transportation Company, the Westinghouse Air Brake Company, New York Air Brake, and the Jones and Laughlin Steel Company. In December 1919, London banker Grigori Benenson bought the City Investing Building for $10 million in cash. At the time, the building was estimated to be worth $7 million, but contained a $5.75 million mortgage held by the Metropolitan Life Insurance Company. The City Investing Building was accordingly renamed the Benenson Building. Benenson acquired the title to the building in July 1920.{{Cite news|date=July 2, 1920|title=Title to 195 Broadway; J. Benenson is New Owner of the City Investing Building.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1920/07/02/archives/title-to-195-broadway-j-benenson-is-new-owner-of-the-city-investing.html|access-date=October 3, 2020|issn=0362-4331|archive-date=September 27, 2020|archive-url=https://web.archive.org/web/20200927021400/https://www.nytimes.com/1920/07/02/archives/title-to-195-broadway-j-benenson-is-new-owner-of-the-city-investing.html|url-status=live}} He received a $9.5 million mortgage loan for the building in 1926.{{Cite news|date=August 19, 1926|title=$9,500,000 Loan for 165 Broadway|language=en-US|work=The New York Times|url=https://www.nytimes.com/1926/08/19/archives/9500000-loan-for-165-broadway-syndicate-to-handle-largest-financing.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 19, 2020|archive-url=https://web.archive.org/web/20201019034333/https://www.nytimes.com/1926/08/19/archives/9500000-loan-for-165-broadway-syndicate-to-handle-largest-financing.html|url-status=live}}

During the 1920s, the Benenson Building gained tenants such as the Chemical Bank{{Cite news|date=December 22, 1926|title=Chemical National's Move; Bank to Be at 165 Broadway After New Building is Erected|language=en-US|work=The New York Times|url=https://www.nytimes.com/1926/12/22/archives/chemical-nationals-move-bank-to-be-at-165-broadway-after-new.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 11, 2020|archive-url=https://web.archive.org/web/20201011233738/https://www.nytimes.com/1926/12/22/archives/chemical-nationals-move-bank-to-be-at-165-broadway-after-new.html|url-status=live}} and advertising agency Albert Frank & Company.{{Cite news|date=June 3, 1929|title=Albert Frank & Co. Move.; Advertising Agency to Open Offices at 165 Broadway Today|language=en-US|work=The New York Times|url=https://www.nytimes.com/1929/06/03/archives/albert-frank-co-move-advertising-agency-to-open-offices-at-165.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 8, 2020|archive-url=https://web.archive.org/web/20201008231841/https://www.nytimes.com/1929/06/03/archives/albert-frank-co-move-advertising-agency-to-open-offices-at-165.html|url-status=live}} Benenson also brought adjacent property to the north, intending to construct a supertall skyscraper on the site, but these plans were canceled due to the Wall Street Crash of 1929.{{Cite news|date=April 6, 1939|title=Grigori Benenson, Noted Financier|language=en-US|work=The New York Times|url=https://www.nytimes.com/1939/04/06/archives/grigori-benenson-noted-financier-former-owner-of-building-at-165.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 8, 2020|archive-url=https://web.archive.org/web/20201008160614/https://www.nytimes.com/1939/04/06/archives/grigori-benenson-noted-financier-former-owner-of-building-at-165.html|url-status=live}} Benenson's company suffered financially from the Wall Street Crash and defaulted on its mortgages in the years afterward.{{Cite news|date=June 25, 1931|title=Benenson Terminal Faces Foreclosure; Manufacturers' Trust Co., as Trustee of $2,451,000 Notes, Files Against Properties|language=en-US|work=The New York Times|url=https://www.nytimes.com/1931/06/25/archives/benenson-terminal-faces-foreclosure-manufacturers-trust-co-as-trust.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 8, 2020|archive-url=https://web.archive.org/web/20201008231235/https://www.nytimes.com/1931/06/25/archives/benenson-terminal-faces-foreclosure-manufacturers-trust-co-as-trust.html|url-status=live}} The Benenson Building and the company's other structures, including the adjacent 99 Liberty Street, were placed for sale in October 1931 as part of foreclosure proceedings against the company. The building at the time was assessed as being worth $10.4 million.{{Cite news|date=October 18, 1931|title=Benenson Holdings Going at Auction; Downtown Properties Valued at More Than $28,000,000 in Foreclosure Sale|language=en-US|work=The New York Times|url=https://www.nytimes.com/1931/10/18/archives/benenson-holdings-going-at-auction-downtown-properties-valued-at.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184210/https://www.nytimes.com/1931/10/18/archives/benenson-holdings-going-at-auction-downtown-properties-valued-at.html|url-status=live}} Charles F. Noyes acquired the Benenson Building and several of Benenson's other properties the next month.{{Cite news|date=November 13, 1931|title=$23,775,779 Paid in Benenson Sale; Lower Manhattan Holdings Go to C.f. Noyes as Bidder in Record Foreclosure Auction|language=en-US|work=The New York Times|url=https://www.nytimes.com/1931/11/13/archives/23775779-paid-in-benenson-sale-lower-manhattan-holdings-go-to-cf.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 17, 2020|archive-url=https://web.archive.org/web/20201017045221/https://www.nytimes.com/1931/11/13/archives/23775779-paid-in-benenson-sale-lower-manhattan-holdings-go-to-cf.html|url-status=live}}

By 1936, there were plans to renovate the Benenson Building, with the project being funded through rental income.{{cite news|date=February 6, 1936|title=Plan Modernization for Downtown Unit: Cooperation Sought From Bond. Holders of 26-story Offices at 165 Broadway|page=38|work=The New York Times|issn=0362-4331|id={{ProQuest|101977077}}}} The Benenson Building and another adjacent structure were auctioned again in 1938 to satisfy the liens against the properties.{{Cite news|date=December 30, 1938|title=165 Broadway to Be Sold; Auction of Benenson Building to Take Place Today|language=en-US|work=The New York Times|url=https://www.nytimes.com/1938/12/30/archives/165-broadway-to-be-sold-auction-of-benenson-building-to-take-place.html|access-date=October 3, 2020|issn=0362-4331|archive-date=April 24, 2022|archive-url=https://web.archive.org/web/20220424184213/https://www.nytimes.com/1938/12/30/archives/165-broadway-to-be-sold-auction-of-benenson-building-to-take-place.html|url-status=live}}{{cite news|date=December 30, 1938|title=Former Benenson Building Will Be Auctioned Today|page=30|work=New York Herald Tribune|issn=1941-0646|id={{ProQuest|1247808218}}}} The New York Trust Company acquired the Benenson Building for $5 million, and the building was renamed 165 Broadway.{{Cite news|date=June 22, 1938|title=Mortgage Relief for Broadway Site|language=en-US|work=The New York Times|url=https://www.nytimes.com/1938/06/22/archives/mortgage-relief-for-broadway-site-referee-urges-approval-of-plan.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 9, 2020|archive-url=https://web.archive.org/web/20201009185525/https://www.nytimes.com/1938/06/22/archives/mortgage-relief-for-broadway-site-referee-urges-approval-of-plan.html|url-status=live}} The building was renovated in 1941 for $300,000. The entrances, elevators, and corridors were renovated, and new fluorescent lighting was installed. At the time, the Chemical Bank occupied the first six floors of both 165 Broadway and the Gilsey Building.{{cite news|date=March 23, 1941|title=City Investing Building Put in Good Condition: $300,000 Renovation Job Brings Entrances, Halls and Fixtures Up to Date|page=C2|work=New York Herald Tribune|issn=1941-0646|id={{ProQuest|1248408773}}}}{{cite news|date=March 23, 1941|title=Alterations Made at 165 Broadway: Modernization Work Ends in 31-story Edifice Under $300,000 Program|page=RE2|work=The New York Times|issn=0362-4331|id={{ProQuest|105510636}}}} 165 Broadway, the Gilsey Building, and 99 Liberty Street were sold in 1947 to N. K. Winston and George Gregory for $11 million.{{cite news|date=December 25, 1947|title=3 Buildings Sold in Wall St. Area: 165 Broadway and Adjoining Offices Figure in Deal Involving $11,000,000|page=40|work=The New York Times|issn=0362-4331|id={{ProQuest|108001036}}}}

In 1964, United States Steel acquired the City Investing Building, along with the neighboring Singer Building.{{Cite news|date=March 19, 1964|title=Siteon Broadway Goes to U.S. Steel; Webb & Knapp Sells 2 Blocks Stock Exchange Spurned|language=en-US|work=The New York Times|url=https://www.nytimes.com/1964/03/19/archives/siteon-broadway-goes-to-us-steel-webbknappsells-2-blocks-stock.html|access-date=August 14, 2020|issn=0362-4331|archive-date=February 28, 2022|archive-url=https://web.archive.org/web/20220228144145/https://www.nytimes.com/1964/03/19/archives/siteon-broadway-goes-to-us-steel-webbknappsells-2-blocks-stock.html|url-status=live}} U.S. Steel planned to demolish the entire block to erect a new 54-story headquarters on the same site.{{Cite news|last=Fried|first=Joseph P.|date=April 5, 1968|title=U.S. Steel to Erect a 54-Story Skyscraper Here; Lower Broadway Project Is Hailed by City as 'Great Planning Achievement'|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/04/05/archives/us-steel-to-erect-a-54story-skyscraper-here-lower-broadway-project.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 8, 2020|archive-url=https://web.archive.org/web/20201008230832/https://www.nytimes.com/1968/04/05/archives/us-steel-to-erect-a-54story-skyscraper-here-lower-broadway-project.html|url-status=live}} Although preservationists attempted to get the New York City Landmarks Preservation Commission to protect the Singer Building,{{Cite news|last=Fried|first=Joseph P.|date=August 22, 1967|title=Landmark on Lower Broadway to Go; End Near for Singer Building, A Forerunner of Skyscrapers|language=en-US|work=The New York Times|url=https://www.nytimes.com/1967/08/22/archives/landmark-on-lower-broadway-to-go-end-near-for-singer-building-a-for.html|access-date=August 12, 2020|issn=0362-4331|archive-date=April 20, 2022|archive-url=https://web.archive.org/web/20220420231957/https://www.nytimes.com/1967/08/22/archives/landmark-on-lower-broadway-to-go-end-near-for-singer-building-a-for.html|url-status=live}} the City Investing Building received relatively little notice. Demolition of both buildings was underway by 1968.{{Cite news|last=Vartan|first=Vartanig G.|date=February 15, 1968|title=New Home Sought For Merrill Lynch|language=en-US|work=The New York Times|url=https://www.nytimes.com/1968/02/15/archives/new-home-sought-for-merrill-lynch-us-steel-involved-new-home-sought.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 10, 2020|archive-url=https://web.archive.org/web/20201010024817/https://www.nytimes.com/1968/02/15/archives/new-home-sought-for-merrill-lynch-us-steel-involved-new-home-sought.html|url-status=live}}

The U.S. Steel Building (later known as One Liberty Plaza) was built on the site, being completed in 1973.{{harvnb|Landau|Condit|1996|ps=.|p=361}} One Liberty Plaza had at least twice the two former buildings' combined interior area. One Liberty Plaza contained {{convert|37000|sqft|m2}} per floor,{{Cite news|last=Gray|first=Christopher|date=January 2, 2005|title=Once the Tallest Building, but Since 1967 a Ghost|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/01/02/realestate/once-the-tallest-building-but-since-1967-a-ghost.html|access-date=October 6, 2020|issn=0362-4331|archive-date=October 8, 2020|archive-url=https://web.archive.org/web/20201008082455/https://www.nytimes.com/2005/01/02/realestate/once-the-tallest-building-but-since-1967-a-ghost.html|url-status=live}} compared with the {{convert|5200|to|19500|ft2|abbr=}} per floor in the City Investing Building. At the time of its destruction, the City Investing Building was the third-tallest building ever demolished, behind the Morrison Hotel and the Singer Building.{{cite web|last=Warerkar|first=Tanay|date=May 14, 2018|title=NYC is home to 23 of the world's tallest intentionally demolished buildings|url=https://ny.curbed.com/2018/5/14/17353148/270-park-avenue-tallest-building-demolition|access-date=August 12, 2020|website=Curbed NY|archive-date=October 11, 2020|archive-url=https://web.archive.org/web/20201011043215/https://ny.curbed.com/2018/5/14/17353148/270-park-avenue-tallest-building-demolition|url-status=live}}{{cite web|date=July 3, 2014|title=The 10 Tallest Buildings Ever Demolished|url=https://www.archdaily.com/522991/the-10-tallest-buildings-ever-demolished|access-date=October 6, 2020|website=ArchDaily|archive-date=September 30, 2020|archive-url=https://web.archive.org/web/20200930195918/https://www.archdaily.com/522991/the-10-tallest-buildings-ever-demolished|url-status=live}}

The City Investing Building, along with other nearby sites such as the Singer Building, Hudson Terminal, and the Equitable Building, was a frequently photographed skyscraper in Lower Manhattan. The completion of the Equitable Building to the southeast in 1915 placed the City Investing Building into permanent shadow up to the 24th floor.{{cite magazine|date=November 1918|title=Shadows Cast by Skyscrapers|url=https://books.google.com/books?id=64I9AQAAMAAJ&pg=PA248|journal=Buildings and Building Management|publisher=Building Manager Publishing Company|page=38|access-date=May 11, 2020|archive-date=September 16, 2020|archive-url=https://web.archive.org/web/20200916103915/https://books.google.com/books?id=64I9AQAAMAAJ&pg=PA248|url-status=live}} The situation led to New York City's 1916 Zoning Resolution, which required buildings to be set back above a certain height.{{Cite news|last=Dunlap|first=David W.|date=July 25, 2016|title=Zoning Arrived 100 Years Ago. It Changed New York City Forever.|language=en-US|work=The New York Times|url=https://www.nytimes.com/2016/07/26/nyregion/new-yorks-first-zoning-resolution-which-brought-order-to-a-chaotic-building-boom-turns-100.html|access-date=May 13, 2020|issn=0362-4331|archive-date=July 11, 2019|archive-url=https://web.archive.org/web/20190711221354/https://www.nytimes.com/2016/07/26/nyregion/new-yorks-first-zoning-resolution-which-brought-order-to-a-chaotic-building-boom-turns-100.html|url-status=live}}

According to architectural journalist Christopher Gray and architectural historians Sarah Landau and Carl Condit, the City Investing Building was regarded as a "monument to greed" with its sheer size. Photographs of the building almost always showed its northern side on Cortlandt Street because its primary elevation to the east along Broadway was excessively narrow. Architect Donn Barber described the facade as "somewhat showy both in design and material" and regarded the lobby as "the finest piece of commercial designing and execution that we have yet seen downtown." Kimball, the building's architect, characterized the light-toned exterior as contrasting with the "darker and more somber" appearance of nearby buildings.{{harvnb|Landau|Condit|1996|ps=.|pp=325–326}}

{{Notelist}}

{{reflist}}

• {{cite web|year=1907|title=City Investing Building, Broadway–Cortlandt and Church streets.|url=https://archive.org/stream/cityinvestingbui00broa_0/cityinvestingbui00broa_0#page/n14/mode/1up|publisher=Broadway–Cortlandt Company|ref={{harvid|Broadway–Cortlandt Company|1907}}|via=Internet Archive}}
• {{Cite nysky}}
• {{cite magazine|date=November 24, 1906|title=Some Structural Features of the City Investing Company's Building, New York|url=https://babel.hathitrust.org/cgi/pt?id=uc1.e0000406033&view=1up&seq=580|journal=Engineering Record|volume=54|pages=566–567|ref={{harvid|Engineering Record|1906}}|number=21}} {{PD-notice}}
• {{cite magazine|date=January 4, 1908|title=The Largest Buildings of the Year|url=https://rerecord.library.columbia.edu/pdf_files/ldpd_7031148_041_1.pdf|journal=The Real Estate Record: Real Estate Record and Builders' Guide|volume=81|pages=38–39|ref={{harvid|Real Estate Record|1908}}|via=columbia.edu|number=2077}}
• {{cite magazine|year=1907|title=Volume 57|journal=Engineering Record|volume=57|ref={{harvid|Engineering Record|1907}}}} {{PD-notice}}
• {{cite magazine|date=June 15, 1907|title=Erection of the City Investing Company's Building|url=https://babel.hathitrust.org/cgi/pt?id=mdp.39015085454786&view=1up&seq=708|journal=Engineering Record|volume=57|pages=696–697|number=24}} {{PD-notice}}
• {{cite magazine|date=March 2, 1907|title=The Pneumatic Foundations of the City Investing Building, New York|url=https://babel.hathitrust.org/cgi/pt?id=mdp.39015085454786&view=1up&seq=279|journal=Engineering Record|volume=57|pages=267–270|number=9}} {{PD-notice}}

{{commonscat|City Investing Building}}

• [http://www.nyc-architecture.com/GON/GON011.htm Online source with photographs]
• [https://www.flickr.com/photos/nycdreamin/4447937442/ Flickr photograph]

{{Broadway (Manhattan)}}

{{Financial District, Manhattan}}

Category:1908 establishments in New York City

Category:1900s architecture in the United States

Category:1968 disestablishments in New York (state)

Category:Beaux-Arts architecture in New York City

Category:Broadway (Manhattan)

Category:Buildings and structures demolished in 1968

Category:Demolished buildings and structures in Manhattan

Category:Financial District, Manhattan

Category:Former skyscrapers

Category:Romanesque Revival architecture in New York City

Category:Office buildings completed in 1908

Category:Skyscraper office buildings in Manhattan