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745 Seventh Avenue
745 Seventh Avenue (also known as the Lehman Brothers Building and Barclays Building) is a 575 ft (175 m), 38-story skyscraper in the Midtown Manhattan neighborhood of New York City, New York. Designed by Kohn Pedersen Fox and originally built in 2001 for financial services firm Morgan Stanley, it was instead purchased by competing firm Lehman Brothers and served as Lehman's headquarters until the bank's collapse in 2008. The building has since served as the headquarters of Barclays' investment banking division.
The building occupies the western end of a block bounded by Seventh Avenue, 49th Street, Sixth Avenue, and 50th Street. It is made of steel, granite, and glass and is topped by a glass parapet. The building also features 15,000 square feet (1,400 m2) of screen displays incorporated into the facade of its third through fifth stories. The building is bounded to the east by a public plaza running through the block from 49th to 50th Street, and underground passageways connect the building to the New York City Subway's 49th Street station and the Rockefeller Center's underground mall. It has a floor area of 1,020,000 sq ft (95,000 m2).
745 Seventh Avenue is in the Times Square neighborhood in Midtown Manhattan, New York City, United States. It is located just north of the actual intersection known as Times Square and occupies the western part of the block bounded by 50th Street to the north, 49th Street to the south, Seventh Avenue to the west, and Sixth Avenue to the east. The lot covers an area of 62,459 ft2 (5,802.6 m2) with a frontage of 200.83 ft (61.21 m) along Seventh Avenue and a depth of 350 ft (110 m). The building shares the block with 1251 Avenue of the Americas to the east. Other neighboring buildings include 750 Seventh Avenue to the west, the Winter Garden Theatre to the northwest, The Michelangelo to the north, 1251 Avenue of the Americas to the northeast, and 1221 Avenue of the Americas to the southeast.
The site was once home to the Brass Rail, a four-floor restaurant and tavern with a cocktail lounge. The restaurant originally opened as a sandwich shop during the prohibition era and grew to have a seating capacity of more than 1,000. The eastern end of the site was also home to the Embassy 49th Street Theatre, which first opened in 1914. The theater was developed and managed by actor-producer Charles Hopkins and had a seating capacity of approximately 300. It screened British and foreign films early in its lifetime before later becoming a pornographic theater, serving as the location for the premiere of Deep Throat in 1972. The theater was demolished in 1987.
In late 1986, the property was owned by the Rockefeller Group, a real estate development company in charge of developing the western blocks of Rockefeller Center. As the real estate economy was booming, the company developed plans for a new building on the property. By 1989, the property was largely an empty lot, with the exception of a small plaza called Exxon Park occupying the easternmost section and a small four-story brick building facing 49th Street.
In 1989, the Rockefeller Group announced plans to build a 55-story office building, then called Rockefeller Plaza West, as an expansion of the Rockefeller Center complex. The proposal, designed by Kohn Pedersen Fox, included a rehearsal studio, a restaurant and cabaret, and additional retail space, as well as below-ground connections to the Rockefeller Center concourse and surrounding subway lines. It would have had a total of 1,360,000 sq ft (126,000 m2) of floor space, made possible by purchasing air rights from older buildings in Rockefeller Center, which were then also owned by the Rockefeller Group. To purchase the air rights, the developers applied for a special permit under New York City Zoning Resolution § 74-79, which allowed a developer with a "chain of ownership" over multiple contiguous properties to transfer air rights from one of their properties to another.
The building's design was well received by critics. It featured a limestone and glass facade with stainless steel ornamentations, drawing comparisons to the design of the center's older buildings and contrasting it with the monolithic design of the center's more recent buildings. Paul Goldberger wrote in The New York Times that the building "does not look like the RCA Building and it does not look like the Exxon Building, either, yet it looks capable of sitting comfortably beside both." The design won a citation in the Progressive Architecture magazine.
The proposal was approved by the Landmarks Preservation Commission and Board of Estimate in May 1990, and work to clear the site began soon after. The building was expected to begin construction in 1991, take three years to build, and cost in "the half-billion dollar range." Shortly after work began, however, the project became involved in disputes over development rights, and after the economy went into recession, the project was scrapped, with the air rights transfer being abandoned. In 1994, Rockefeller Group received permission from the city to turn the site into a parking lot until an anchor tenant was found for the development. The parking lot had 200 spaces.
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745 Seventh Avenue
745 Seventh Avenue (also known as the Lehman Brothers Building and Barclays Building) is a 575 ft (175 m), 38-story skyscraper in the Midtown Manhattan neighborhood of New York City, New York. Designed by Kohn Pedersen Fox and originally built in 2001 for financial services firm Morgan Stanley, it was instead purchased by competing firm Lehman Brothers and served as Lehman's headquarters until the bank's collapse in 2008. The building has since served as the headquarters of Barclays' investment banking division.
The building occupies the western end of a block bounded by Seventh Avenue, 49th Street, Sixth Avenue, and 50th Street. It is made of steel, granite, and glass and is topped by a glass parapet. The building also features 15,000 square feet (1,400 m2) of screen displays incorporated into the facade of its third through fifth stories. The building is bounded to the east by a public plaza running through the block from 49th to 50th Street, and underground passageways connect the building to the New York City Subway's 49th Street station and the Rockefeller Center's underground mall. It has a floor area of 1,020,000 sq ft (95,000 m2).
745 Seventh Avenue is in the Times Square neighborhood in Midtown Manhattan, New York City, United States. It is located just north of the actual intersection known as Times Square and occupies the western part of the block bounded by 50th Street to the north, 49th Street to the south, Seventh Avenue to the west, and Sixth Avenue to the east. The lot covers an area of 62,459 ft2 (5,802.6 m2) with a frontage of 200.83 ft (61.21 m) along Seventh Avenue and a depth of 350 ft (110 m). The building shares the block with 1251 Avenue of the Americas to the east. Other neighboring buildings include 750 Seventh Avenue to the west, the Winter Garden Theatre to the northwest, The Michelangelo to the north, 1251 Avenue of the Americas to the northeast, and 1221 Avenue of the Americas to the southeast.
The site was once home to the Brass Rail, a four-floor restaurant and tavern with a cocktail lounge. The restaurant originally opened as a sandwich shop during the prohibition era and grew to have a seating capacity of more than 1,000. The eastern end of the site was also home to the Embassy 49th Street Theatre, which first opened in 1914. The theater was developed and managed by actor-producer Charles Hopkins and had a seating capacity of approximately 300. It screened British and foreign films early in its lifetime before later becoming a pornographic theater, serving as the location for the premiere of Deep Throat in 1972. The theater was demolished in 1987.
In late 1986, the property was owned by the Rockefeller Group, a real estate development company in charge of developing the western blocks of Rockefeller Center. As the real estate economy was booming, the company developed plans for a new building on the property. By 1989, the property was largely an empty lot, with the exception of a small plaza called Exxon Park occupying the easternmost section and a small four-story brick building facing 49th Street.
In 1989, the Rockefeller Group announced plans to build a 55-story office building, then called Rockefeller Plaza West, as an expansion of the Rockefeller Center complex. The proposal, designed by Kohn Pedersen Fox, included a rehearsal studio, a restaurant and cabaret, and additional retail space, as well as below-ground connections to the Rockefeller Center concourse and surrounding subway lines. It would have had a total of 1,360,000 sq ft (126,000 m2) of floor space, made possible by purchasing air rights from older buildings in Rockefeller Center, which were then also owned by the Rockefeller Group. To purchase the air rights, the developers applied for a special permit under New York City Zoning Resolution § 74-79, which allowed a developer with a "chain of ownership" over multiple contiguous properties to transfer air rights from one of their properties to another.
The building's design was well received by critics. It featured a limestone and glass facade with stainless steel ornamentations, drawing comparisons to the design of the center's older buildings and contrasting it with the monolithic design of the center's more recent buildings. Paul Goldberger wrote in The New York Times that the building "does not look like the RCA Building and it does not look like the Exxon Building, either, yet it looks capable of sitting comfortably beside both." The design won a citation in the Progressive Architecture magazine.
The proposal was approved by the Landmarks Preservation Commission and Board of Estimate in May 1990, and work to clear the site began soon after. The building was expected to begin construction in 1991, take three years to build, and cost in "the half-billion dollar range." Shortly after work began, however, the project became involved in disputes over development rights, and after the economy went into recession, the project was scrapped, with the air rights transfer being abandoned. In 1994, Rockefeller Group received permission from the city to turn the site into a parking lot until an anchor tenant was found for the development. The parking lot had 200 spaces.