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45 Broad Street

Broad Street (Manhattan)Financial District, ManhattanProposed skyscrapers in the United StatesResidential skyscrapers in ManhattanUse mdy dates from June 2020

45 Broad Street is a 68-story, 1,115-foot (340-meter) supertall residential skyscraper being constructed in the Financial District of Manhattan, New York City. The building will become Lower Manhattan's tallest residential tower. Excavation started in 2017, but as of 2020, construction is on hold.

Excerpt from the Wikipedia article 45 Broad Street (License: CC BY-SA 3.0, Authors).

45 Broad Street
Broad Street, New York Manhattan

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Wikipedia: 45 Broad StreetContinue reading on Wikipedia

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Latitude Longitude
N 40.705555555556 ° E -74.011388888889 °
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Broad Street 41
10004 New York, Manhattan
New York, United States
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Broad Exchange Building
Broad Exchange Building

The Broad Exchange Building, also known as 25 Broad Street, is a residential building at Exchange Place and Broad Street in the Financial District of Lower Manhattan in New York City. The 20-story building was designed by Clinton & Russell and built between 1900 and 1902. The Alliance Realty Company developed the Broad Exchange Building as a speculative development for office tenants. The Broad Exchange Building is either 20 or 21 stories tall. its articulation consists of three horizontal sections similar to the components of a column, namely a base, shaft, and capital. The lowest three stories of the facade are clad with rusticated granite blocks; the fourteen-story shaft is clad with brick; and the top stories are clad with granite and terracotta, topped by a copper cornice. Inside, the building originally contained office space, but as of 2019, has 307 residential units. With 326,500 square feet (30,330 m2) of rental space in total, the Broad Exchange Building was Manhattan's largest office building upon its completion. Due to the Broad Exchange Building's proximity to the New York Stock Exchange Building, many financial firms sought space in the building. The Broad Exchange Building was sold off numerous times in the late 20th and early 21st centuries. The Broad Exchange Building was gutted and renovated into apartments in the late 1990s, and a southern wing of the building was demolished in the early 21st century. The building was added to the National Register of Historic Places (NRHP) in 1998, and was designated a city landmark by the New York City Landmarks Preservation Commission in 2000. It is also a contributing property to the Wall Street Historic District, a NRHP district created in 2007.

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."

Stock Exchange Luncheon Club

The Stock Exchange Luncheon Club was a members-only dining club, on the seventh floor of the New York Stock Exchange Building at 11 Wall Street in Manhattan. The club was founded on August 3, 1898, and moved from 70 Broadway to 11 Wall Street when the New York Stock Exchange (NYSE) opened its new building in 1903. It closed on April 28, 2006, after more than a century of service.The club had an inaugural membership of 200, with a "long waiting list", when it first opened as the Luncheon Club at 70 Broadway and 15 New Street, Manhattan.Joseph L. Searles III, who became the first African American member of the NYSE when he joined in 1970, said that his "biggest fear...was where would I sit in the luncheon club?". The situation was resolved when Searles was given his own table by the club, and he dined alone for a while.A ladies' restroom was installed in the club as late as 1987, some twenty years after women were first admitted to the NYSE.In 1999, the club had more than 1,400 members, and was lavishly decorated with various animal heads, most shot by members on safari.In August 2001, the Stock Exchange Luncheon Club served as the venue for the presentation of custom-made motorized wheelchairs to 17 quadraplegic in-patients of a local hospital for paralyzed people. A fund-raising event was held by the New York City Police Foundation at the club in November 2003. Following security measures put in place at the NYSE, after the September 11 attacks, the club became less accessible, and this, coupled with the ousting of regular patron Richard Grasso from the head of the NYSE, and a decline in similar local dining clubs, was cited as a factor in the club's demise when it closed in 2006. The space continued to be used for important events for example, the NYSE shareholder vote to merge with Euronext on December 19, 2006.