place

Marketfield Street

Financial District, ManhattanStreets in Manhattan
Marketfield Street
Marketfield Street

Marketfield Street is a short one-way, one-block-long alleyway in the Financial District of Manhattan, New York City. The street begins as a southern branch of Beaver Street, then veers east and north, ending at Broad Street. Alternative past names include Exchange Street, Field Street, Fieldmarket Street, Oblique Road, and Petticoat Lane.The name Marketfield Street is a translation from the Dutch. The street originally ran to the Dutch livestock market, Marcktveldt, located near where Battery Park is now, which was then outside the walls of the city. The market operated from 1638 to 1647. In 1641, the Governor-General of New Netherland, Willem Kieft, opened the colony's first cattle market there.By 1680, mainly poor people were living on Marketfield Street. In 1688, the city's first French Huguenot church was built there.In September 1776, Marketfield Street was part of the area devastated by the Great Fire of New York, which engulfed the southwestern tip of Manhattan. In 1821, a hurricane hit the East Coast, destroying the street's dock. In 1821, Marketfield Street, which overlooked the Hudson River, had a single name throughout its length, but by the 1830s, the street was renamed "Battery Place" from Bowling Green to the Hudson River. The 1882 construction of the New York City Produce Exchange demolished the block of the street that contained the French church.The American Bank Note Company Building at 70 Broad Street, between Marketfield and Beaver Street, was erected in 1908 as the headquarters of the American Bank Note Company.

Excerpt from the Wikipedia article Marketfield Street (License: CC BY-SA 3.0, Authors, Images).

Marketfield Street
Broadway, New York Manhattan

Geographical coordinates (GPS) Address Nearby Places
placeShow on map

Wikipedia: Marketfield StreetContinue reading on Wikipedia

Geographical coordinates (GPS)

Latitude Longitude
N 40.704648 ° E -74.012568 °
placeShow on map

Address

2 Broadway

Broadway 2
10275 New York, Manhattan
New York, United States
mapOpen on Google Maps

Marketfield Street
Marketfield Street
Share experience

Nearby Places

2 Broadway
2 Broadway

2 Broadway is an office building at the south end of Broadway, near Bowling Green Park, in the Financial District of Manhattan in New York City. The 32-story building, designed by Emery Roth & Sons and constructed from 1958 to 1959, contains offices for the Metropolitan Transportation Authority (MTA). 2 Broadway serves as the headquarters for some of the MTA's subsidiary agencies. The building is on a site bounded by Broadway and Whitehall Street to the west, Beaver Street to the north, and Stone Street to the south. It fills most of the lot, with the building rising in triple setbacks. The facade is covered in blue-green tinted glass, which dates from a 1999 redesign by Skidmore, Owings & Merrill. The site was previously occupied by George B. Post's New York Produce Exchange building, which was completed in 1884. Plans for the skyscraper date to 1953, when William Lescaze devised plans to replace the Produce Exchange Building. Emery Roth & Sons were selected to be the architects when Uris Buildings Corporation took over the project. The original tenants were largely financial firms, while the Produce Exchange owned the land under the building and occupied some lower floors. Olympia and York acquired 2 Broadway in 1976 and the underlying land in 1983. After the building became mostly vacant during the early 1990s, Tamir Sapir purchased 2 Broadway in 1995. The building was renovated after the MTA leased all the space in 1998, although the project encountered high costs and several delays.

New York Produce Exchange
New York Produce Exchange

The New York Produce Exchange was a commodities exchange headquartered in the Financial District of Lower Manhattan in New York City. It served a network of produce and commodities dealers across the United States. Founded in 1861 as the New York Commercial Association, it was originally headquartered at Whitehall Street in a building owned by the New York Produce Exchange Company. The Association was renamed the New York Produce Exchange in 1868 and took over the original building in 1872. Between 1881 and 1884, the Produce Exchange built a new headquarters on 2 Broadway, facing Bowling Green in Lower Manhattan. The structure, designed by George B. Post, was the first in the world to combine wrought iron and masonry in its structural construction. The main feature of the structure was an exchange floor that measured approximately 220 by 144 feet (67 by 44 m). The Produce Exchange was profitable following the building's completion. By the 1880s, it had the largest membership of any exchange in the United States, with a maximum of three thousand members. By 1900, the exchange was doing $15 million a day in business. In the early 20th century, activity on the Produce Exchange started to decline due to competition from other cities. The Produce Exchange sold off its building for development in the 1950s; the headquarters was demolished to make way for a skyscraper called 2 Broadway. The exchange had its trading floor in the skyscraper from 1959 until 1973, when it was restructured as the Produce Exchange Realty Trust, a real estate investment trust.

Drexel Burnham Lambert
Drexel Burnham Lambert

Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States.The firm had its most profitable fiscal year in 1986, netting $545.5 million—at the time, the most profitable year ever for a Wall Street firm, and equivalent to $1.16 billion in 2021. Milken, who was Drexel's head of high-yield securities, was paid $295 million, the highest salary that an employee in the modern history of the world has ever received. Withal, Milken deemed his salary to be insufficient for his contributions to the bank, and received $550 million the next fiscal year.The firm's aggressive culture led many Drexel employees to stray into unethical, and sometimes illegal, conduct. Milken and his colleagues at the high-yield bond department believed the securities laws hindered the free flow of trade. Eventually, Drexel's excessive ambition led it to abuse the junk bond market and become involved in insider trading. In February 1990, Drexel was forced into Chapter 11 bankruptcy by the chairmen of the New York Federal Reserve and the Securities and Exchange Commission. It was the first Wall Street firm to be forced into bankruptcy since the Great Depression. After Drexel's collapse, Kurt Eichenwald of The New York Times noted that the bank "fueled many of the biggest corporate takeovers of the 1980s."

26 Broadway
26 Broadway

26 Broadway, also known as the Standard Oil Building or Socony–Vacuum Building, is an office building adjacent to Bowling Green in the Financial District of Lower Manhattan in New York City. The 31-story, 520-foot-tall (160 m) structure was designed in the Renaissance Revival style by Thomas Hastings of Carrère and Hastings, in conjunction with Shreve, Lamb & Blake. It was built as the headquarters of Standard Oil, once one of the largest oil companies in the United States. 26 Broadway is on a pentagonal site bounded by Broadway to the northwest, Bowling Green to the west, Beaver Street to the south, New Street to the east/southeast, and the axis of Morris Street to the north. The first sixteen stories occupy much of the lot, with several setbacks, a curved facade along Broadway, and two light courts. Above it is a twelve-story tower topped by a stepped pyramid. The ground story has a 40-foot-tall (12 m) lobby leading to three banks of elevators. The Standard Oil executive offices on the top stories included a board room on the 21st floor. The original structure was built in 1884–1885 for Standard Oil on the former site of U.S. treasury secretary Alexander Hamilton's house. The Standard Oil Building was expanded in 1895 and again after World War I, when Walter C. Teagle bought four neighboring buildings to create a continuous lot. The building was greatly expanded to its current size in a multi-phase construction project that took place between 1921 and 1928. 26 Broadway was sold to another owner in 1956 but remained a prominent structure on Bowling Green. In 1995, the New York City Landmarks Preservation Commission designated 26 Broadway as an official city landmark. It is also a contributing property to the Wall Street Historic District, a National Register of Historic Places district created in 2007.