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48 Wall Street

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48 Wall Street

48 Wall Street, formerly the Bank of New York & Trust Company Building, is a 32-story, 512-foot-tall (156 m) skyscraper on the corner of Wall Street and William Street in the Financial District of Lower Manhattan in New York City. Built in 1927–1929 in the Neo-Georgian and Colonial Revival styles, it was designed by Benjamin Wistar Morris.

The current structure is the third to be erected on the same plot, as the Bank of New York had previously erected buildings on the site in 1797 and 1858. The structure was erected during a period when many skyscrapers were being erected in Lower Manhattan. 48 Wall Street is designed with many neo-Georgian details. The lowest three stories, built over a raised basement, were used as the banking floor and feature large arched windows on the second story, as well as pediments over the entrances. The top of the building contains a cupola designed in the Federal style and topped by a statue of an eagle.

The Bank of New York moved out of 48 Wall Street in 1998, after which it was renovated extensively. Museum of American Finance occupied the former banking hall from 2007 to 2018; it was replaced by Will & Wall, a multi-purpose event venue. The building was designated a city landmark by the New York City Landmarks Preservation Commission in 1998 and was added to the National Register of Historic Places (NRHP) in 2003. It is also a contributing property to the Wall Street Historic District, a NRHP district created in 2007.

48 Wall Street is located at the northeast corner of Wall and William Streets, facing Wall Street to the south and William Street to the west. The building has a frontage of 99 feet (30 m) on Wall Street and 125 feet (38 m) on William Street. The lot is largely rectangular with small variations. 55 Wall Street is across Wall Street immediately to the south; 40 Wall Street is across William Street to the west; and 52 William Street and 60 Wall Street share the block directly to the north and east, respectively.

The site slopes downward to the south, with the Wall Street side being slightly lower than the northern portion of the lot. As such, the Wall Street side is at the same elevation as the lobby on the 1st floor (which was designed like a basement), while the banking room on the second floor is slightly higher than William Street. This positioning probably reflected bank architect Alfred Hopkins's advice that a bank on a slope allowed "a better view of the bank's interior" and that a partially-above-ground basement provided better ventilation for the departments housed there. Immediately outside the building's southeastern corner is the entrance for the Wall Street station on the New York City Subway's Broadway–Seventh Avenue Line (served by the 2 and ​3 trains).

48 Wall Street is a 513-foot-tall (156 m) skyscraper designed in the neo-Georgian style, with adaptations from the Colonial Revival style. In the 1920s, at the time of 48 Wall Street's construction, new bank buildings in New York City were typically one of two types: small buildings used solely for banking and large bank-and-office buildings that incorporated banks at their bases. Though there were roughly equal numbers of both types of building, large bank-and-office buildings were typically erected on plots with high land values, such as in the Financial District. Though many contemporary bank buildings still used the Greek Revival and Renaissance Revival styles, which were popular before World War I, other buildings like 48 Wall Street tried out new styles, such as neo-Romanesque and neo-Georgian styles.

At the time of 48 Wall Street's construction, the 1916 Zoning Resolution necessitated the inclusion of setbacks on buildings in New York City that were above a certain height. As such, setbacks were added above the 14th, 20th, 25th, 26th, 30th, and 32nd floors. The eastern elevation of the building, which faces 60 Wall Street, is recessed above the 14th story, while the northern elevation facing 52 William Street is recessed above the 20th story. The eastern portion of the southern elevation (facing Wall Street) has setbacks on the 14th, 19th, 26th, 29th, and 32nd floors, and the northern portion of the western elevation (facing William Street) has a setback above the 28th story.

The facade is arranged so that the lowest stories are clad with granite and the upper stories are faced with limestone. A large-scale program of ornamentation was used on the facade, inspired by formal Georgian models. Due to the narrow street grid of the Financial District, the surrounding skyscrapers obstruct the view of the building from many angles; as a result, most of the ornamentation is at the base, where the banking room is. All ornamentation and windows are on the western and southern elevations. The eastern and northern elevations are completely windowless with stucco walls.

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