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The Salmon Tower Building is a 31-story skyscraper located at 11 West 42nd Street and 20 West 43rd Street in Manhattan, New York City, near Bryant Park. It was designed by Albert J. Wilcox and finished in 1928. It was developed by a firm headed by Walter J. Salmon Sr. Directly to the west of the Salmon Tower Building is the former Aeolian Building, and to its east is 500 Fifth Avenue, also built by Salmon Sr.

Key Information

History

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Walter J. Salmon Sr. headed a firm to erected the building, known as 11 West 42nd Street, Inc.[5] It was designed by Albert J. Wilcox.[6] The Salmon Tower Building was completed by early 1928, when its interior was more than 50 percent leased.[7] The New York City headquarters to elect Herbert Hoover as U.S. president in 1928 were located in the Salmon Tower Building.[8]

In September 1941, elevator operators in the building went on strike so only four of its eighteen elevators were operating on the morning of September 25.[9] In October 1952 a fire in the structure's subbasement caused five firemen to be overcome from smoke inhalation.[10]

Salmon Tower Building was sold by the estate of Charles Frederick Hoffman in June 1964, following an ownership of over sixty years. At the time its assessed value was $5.25 million and it was situated on a 34,309-square-foot (3,187.4 m2) land lot.[11] It is currently owned by Tishman Speyer & Silverstein Properties. In 1980 Tishman Speyer & Silverstein Properties collaborated on a $25 million renovation.[12] The building was refinanced in July 2023 with a $330 million loan from a syndicate led by Bank of America.[13][14]

Tenants

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Former tenants

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The offices of The New Yorker magazine were moved to the building from its longtime home at 25 West 43rd Street, just to the north, in 1991.[18] The magazine moved to 4 Times Square in 1999.[19]

References

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Salmon Tower Building

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The Salmon Tower Building is a 31-story Renaissance Revival office skyscraper located at 11 West 42nd Street, between Fifth and Sixth Avenues in Midtown Manhattan, New York City, directly across from Bryant Park.[1][2] Completed in 1928, it stands approximately 370 feet (113 meters) tall and contains about 950,000 square feet of rentable office space, making it a prominent example of early 20th-century commercial architecture in the area.[1][3] Developed by prominent real estate investor Walter J. Salmon Sr. through his firm 11 West 42nd Street, Inc., the building was constructed during a period of rapid skyscraper development in New York, influenced by the city's 1916 zoning laws that encouraged setbacks and ornamental bases.[2] Designed primarily by the architectural firm York & Sawyer, with contributions from Joseph Kleinberger and Albert J. Wilcox, it features a steel-frame structure clad in brick and terra cotta, with a simple vertical shaft rising from an ornamented lower portion of about 25 stories, topped by additional stories and a parapet.[1][2] The facade emphasizes fireproof construction and efficiency, with frontage of 191 feet 8 inches on 42nd Street and 150 feet on 43rd Street, reflecting the era's focus on functional yet elegant office towers.[3] Historically significant for hosting the 1928 presidential campaign headquarters of Herbert Hoover, the building has undergone notable renovations, including a $25 million upgrade in 1980 and a $330 million refinancing in 2023 by current owners Tishman Speyer and Silverstein Properties.[2] It was listed on the National Register of Historic Places in 2024. It remains an active commercial property, contributing to the vibrant Midtown business district while preserving its early skyscraper character amid modern developments.[4][2]

Site and Development

Location and Context

The Salmon Tower Building is located at 11 West 42nd Street in Midtown Manhattan, New York City, with its footprint extending to 20 West 43rd Street.[2] This positioning places it on the north side of 42nd Street, directly across from Bryant Park, a prominent public green space bounded by 40th and 42nd Streets and Fifth and Sixth Avenues.[5] The building's site occupies a lot of 34,309 square feet, encompassing a key portion of the block between Fifth and Sixth Avenues.[6] Its geographic coordinates are approximately 40°45′15″N 73°58′55″W.[2] Adjacent to the east is 500 Fifth Avenue, a 60-story Art Deco skyscraper completed in 1931, while to the west lies the former Aeolian Building, a historic structure from 1912 that once housed the Aeolian Company piano manufacturers.[2][5] These neighboring landmarks underscore the building's integration into a dense cluster of early 20th-century architecture along 42nd Street. The Salmon Tower's placement enhances its visibility and accessibility within this vibrant urban setting, offering views of Bryant Park and proximity to cultural institutions like the New York Public Library's Stephen A. Schwarzman Building just south of the park.[5] As part of the Bryant Park district, the Salmon Tower Building contributes to the historic office corridor between Fifth and Sixth Avenues, an area that emerged in the 1920s as a hub for commercial development amid Midtown's expansion.[5] This corridor features a concentration of pre-war office towers that reflect the era's economic growth and architectural innovation, with the Salmon Tower serving as a pivotal element in the district's skyline and street-level continuity.[3] The site's strategic location has long supported high-density professional use, reinforcing the area's role as a central node in Manhattan's business landscape.[7]

Planning and Developer

The Salmon Tower Building was developed by Walter J. Salmon Sr., a prominent New York City real estate investor and thoroughbred horse breeder who built his fortune through strategic property investments in the early 20th century.[8][9] Salmon, who had transitioned from his family's tanning business to real estate due to health concerns, amassed significant holdings that funded his passion for horse racing, including ownership of the legendary stallion Man o' War.[8] Salmon's motivations for the project stemmed from a desire to expand his commercial real estate portfolio amid the explosive growth of Midtown Manhattan in the 1920s, a period fueled by post-World War I economic recovery and surging demand for office space.[10] This era saw a skyscraper boom as businesses proliferated, driven by industrial expansion and population influx, prompting investors like Salmon to target high-value areas for development.[11] The site at 11 West 42nd Street was assembled by Salmon starting in 1899 through his firm, 11 West 42nd Street, Inc., capitalizing on the post-war office boom that transformed Midtown into a commercial hub. Salmon assembled the site through leases acquired between 1899 and the early 1910s, enabling the large-scale development in the 1920s.[2][12][13] Positioned near Bryant Park and key transportation nodes, the location was ideal for attracting tenants.[1] Salmon's initial vision was for a skyscraper tower that would meet the area's escalating need for modern office accommodations, particularly close to Grand Central Terminal, which facilitated commuter access for the growing workforce.[1] This project represented a key part of his broader strategy to erect enduring structures in one of Manhattan's most dynamic districts during the decade's prosperity.[9]

Architecture and Design

Architectural Firm and Style

The Salmon Tower Building was primarily designed by the architectural firm York & Sawyer, with contributions from Joseph Kleinberger, a prominent New York practice known for its work on banks and office structures during the early 20th century.[1] Founded by Edward P. York and Philip Sawyer, the firm collaborated on the project, with possible contributions from structural engineer Albert J. Wilcox, who is credited in some contemporary accounts for aspects of the design execution.[14] York & Sawyer's approach emphasized durable, elegant commercial architecture suited to Manhattan's dense urban environment. The building exemplifies Neo-Renaissance style, which integrates classical motifs such as symmetrical facades, arched openings, and ornate detailing with the verticality and efficiency required for modern skyscrapers.[2] This aesthetic draws from the Renaissance Revival traditions prevalent in early 20th-century New York office buildings, prioritizing balanced proportions and decorative limestone and brickwork to convey prestige amid the city's evolving skyline.[15] As Art Deco began to emerge in the late 1920s, the Salmon Tower's design represents a transitional moment, retaining classical ornamentation while adapting to functional demands like light and air circulation. Planned as a 31-story structure reaching 370 feet (113 meters), the building adheres to the setbacks mandated by New York City's 1916 Zoning Resolution, which required stepped massing to reduce shadows on adjacent streets and promote urban openness.[1] This zoning framework influenced the tower's H-shaped plan and progressive setbacks, allowing it to maximize floor area while harmonizing with the surrounding Midtown context near Bryant Park.[2]

Key Features

The Salmon Tower Building is constructed on a steel frame clad in brick and terra cotta, with limestone accents providing ornamental detailing at the base.[16] The most prominent exterior feature is a two-story arched limestone entrance, serving as the primary decorative element and adorned with bas-reliefs of carved faces and foliage. This entrance emphasizes the building's verticality and grandeur while integrating with the surrounding urban fabric near Bryant Park. The structure employs a setback design with gradual massing reductions on the upper levels to adhere to the 1916 New York City zoning resolution, which mandated such step-backs to allow light and air to reach the streets; these setbacks create usable terraces on the higher floors.[13] Overall, the building encompasses approximately 955,000 square feet of gross floor area, configured to support multi-tenant commercial occupancy with flexible office configurations.[1] Internally, the original design incorporated spacious office layouts featuring high ceilings to maximize natural light and ventilation, typical of early 20th-century skyscrapers. The lobby highlights period details, including tile vaults overhead and accents in marble and bronze that contribute to its elegant atmosphere.[17] From an engineering perspective, the steel skeleton provides the primary vertical support, enabling the building's 31-story height, while masonry infill walls offer fireproofing and structural stability in line with contemporary building codes.[2]

Construction and Opening

Timeline and Completion

Construction of the Salmon Tower Building at 11 West 42nd Street in Manhattan commenced in 1926.[18] The project was managed by 11 West 42nd Street, Inc., a firm led by real estate developer Walter J. Salmon Sr., who oversaw the erection of the 31-story structure. While specific details on the general contractor are not documented, the building followed standard 1920s practices for steel-frame construction, employing riveted steel beams for the skeleton and brick cladding for the exterior.[2] The erection process spanned roughly two years, a duration typical for mid-sized skyscrapers during the era's rapid building techniques.[2] The structural frame was completed in 1927, allowing for subsequent interior and facade work.[2] No significant logistical or technical challenges were reported, as the project benefited from the 1920s New York City construction boom fueled by economic prosperity and speculative investment before the onset of the Great Depression.[11] The building reached final completion in early 1928, marking the end of active construction and readiness for occupancy. This timeline positioned the Salmon Tower as one of several office towers rising amid Midtown's expanding skyline in the late 1920s.[2]

Initial Leasing and Use

The Salmon Tower Building opened for occupancy in early 1928, amid a robust commercial real estate market in Midtown Manhattan. By late January of that year, more than 50 percent of its office space had already been leased, reflecting strong demand for premium addresses in the vicinity of Bryant Park and the New York Public Library.[19] This rapid uptake was facilitated by the building's strategic location, which offered convenient access to major transportation hubs and cultural institutions, enhancing its appeal to professional and commercial enterprises. Initial tenants spanned a range of industries, drawn to the tower's modern facilities and prestigious positioning. Among the early occupants was the Dairymen's League Cooperative Association, which secured the entire 21st floor and a substantial portion of the 20th floor in January 1928 for its operations.[20] By June, the National Association of Manufacturers and the National Industrial Council leased extensive space for a 10-year term, relocating from downtown to establish headquarters representing nearly 100,000 manufacturing firms.[21] Similarly, Hahn Department Stores, Inc., took a large section of the 22nd floor for executive offices, contributing to the near-completion of the building's rentals by mid-year.[21] These leases underscored the tower's role as a hub for trade associations, cooperatives, and retail executives seeking elevated visibility in New York's burgeoning business district. A notable early use of the building occurred in August 1928, when the Republican National Committee leased the seventh floor as its Eastern headquarters to support Herbert Hoover's successful presidential campaign.[22] This political tenancy highlighted the Salmon Tower's immediate integration into high-profile activities, benefiting from the pre-Stock Market Crash economic expansion that fueled aggressive office leasing across the city.[23] The structure's swift market entry solidified its status as a desirable venue for organizations capitalizing on Midtown's commercial prestige during the late 1920s boom.

Post-Construction History

Early to Mid-20th Century

Following its completion in 1928, the Salmon Tower Building operated continuously as premium office space through the Great Depression and World War II, a time when Manhattan's overall office vacancy rates peaked at 24% in 1934 due to widespread economic contraction.[24] Its strategic Midtown location adjacent to Bryant Park supported relative stability amid broader market turmoil. The structure housed a mix of professional tenants, contributing to New York City's enduring role as a commercial center even as construction of new buildings halted almost entirely during the late 1930s and wartime years.[25] Into the postwar era, the Salmon Tower Building maintained its prominence as a venue for professional services firms during the 1950s and 1960s, benefiting from the economic boom that drove demand for Midtown office space. This period saw steady utilization without significant disruptions, as the building's established infrastructure met the needs of expanding businesses in finance, law, and related sectors. A pivotal event occurred in June 1964, when the estate of Charles Frederick Hoffman sold half of the underlying land parcel—approximately 17,573 square feet—for an undisclosed sum to an investor represented by attorney George H. Ross, brokered by Robert T. Lawrence of Wm. A. White & Sons.[6] The Hoffman family had held ownership of the site for over 60 years, since before the building's development under a long-term lease by the 11 West 42nd Street Corporation in 1925.[26] At the time of the transaction, the building itself was assessed at $5.25 million, with the total land assessment for both halves reaching $4.65 million; the eastern half remained with the related Eugene A. Hoffman estate.[6] This partial transfer to new investors effectively concluded the original ownership era tied to the Hoffman lineage. Throughout the early to mid-20th century, the Salmon Tower Building escaped the impacts of major Midtown redevelopments, such as those surrounding Grand Central Terminal in the 1950s and 1960s, thereby preserving its pre-Depression architectural form and operational continuity.

Late 20th Century to Present

In 1980, Tishman Speyer and Silverstein Properties undertook a $25 million renovation of the Salmon Tower Building, enhancing its infrastructure and systems to integrate modern functionality while preserving its historic character.[3] The building secured a $330 million refinancing in July 2023 through a joint venture of owners Tishman Speyer and Silverstein Properties, with Bank of America providing the senior loan and Taconic Capital the mezzanine portion; this five-year, fixed-rate package replaced a prior $300 million debt and funded ongoing lease expansions amid a 99% occupancy rate.[27][4] In March 2024, the building signed a major lease with Michael Kors, further bolstering its tenant roster.[28] As of 2025, the Salmon Tower Building continues to thrive in New York City's recovering office market, where vacancy rates have declined to approximately 15% following pandemic-era challenges from remote and hybrid work.[29] Its prime location opposite Bryant Park, revitalized since the 1990s with enhanced public amenities and programming, supports strong demand and leasing interest.[30][31] Although not designated as a New York City landmark, the building is valued for its Neo-Renaissance architectural features, contributing to the historic fabric of Midtown Manhattan.[15]

Tenants and Ownership

Notable Tenants

The Salmon Tower Building has hosted a diverse array of prominent tenants, reflecting its status as a prestigious Midtown Manhattan address. As of 2025, fashion and luxury brands dominate the occupancy, including Capri Holdings, the parent company of Michael Kors, which renewed its headquarters lease for 203,000 square feet across multiple floors in 2024.[32] Burberry occupies approximately 43,000 square feet on the 11th floor, having relocated its New York offices there in 2022.[33] Valentino U.S.A. maintains its corporate offices on the 26th floor.[34] Professional services and architecture firms also feature prominently among current occupants. Kohn Pedersen Fox Associates, a leading global architecture firm, has its New York headquarters at the building and expanded its space by 38,000 square feet on the seventh floor in 2021.[35] The Leste Group, an international real estate investment firm, leases space on the 15th floor.[36] In media and education, National Public Radio (NPR) operates its New York bureau on the 19th floor,[37] while Future plc, a major digital publishing company, occupies the 15th floor.[38] New York University's School of Professional Studies runs its Midtown Center programs from the fourth floor.[39] CIT Group, a financial services provider, maintains an office presence tied to its historical headquarters relocation there in 2006, though operations have integrated with parent First Citizens BancShares following the 2022 acquisition.[40] Historically, the building attracted high-profile media tenants. The New Yorker magazine occupied floors 16 through 18 from 1991 to 1999, utilizing the space's internal connecting staircases before relocating to the Condé Nast Building.[41] TV Guide leased the former New Yorker suites in 2007, drawn by the preserved layout.[41] The fintech firm CodeStreet headquartered there from 2005 to 2008. This mix of fashion, media, finance, and professional services underscores the building's integration into Midtown's vibrant commercial ecosystem, where high-profile anchors like luxury brands enhance prestige. Recent leasing activity, including Capri Holdings' 2025 renewal for 10,000 to 20,000 square feet expiring in 2031, signals recovery following the 2023 refinancing, amid broader Manhattan office market stabilization with 20.6 million square feet leased in the first half of 2025.[42][43]

Ownership History

The Salmon Tower Building was originally developed by Walter J. Salmon Sr., a prominent New York real estate developer, through his firm 11 West 42nd Street, Inc., upon its completion in 1928.[1] The building, named in his honor, was owned by the Charles Frederick Hoffman family and marked a significant addition to Midtown Manhattan's skyline.[2] This ownership period lasted until 1964, when half the land under the building was sold by the Hoffman estate to undisclosed investors, with the building assessed at $5.25 million at the time amid a shifting real estate landscape.[2] In 1978, the building was acquired by a joint venture between Tishman Speyer and Silverstein Properties, who have maintained ownership since then.[4] This acquisition coincided with a major gut renovation, positioning the property for long-term viability as a premium office asset.[4] Under their stewardship, the 31-story structure has been operated as Class A office space, emphasizing high-quality amenities and operational efficiency. A key financial milestone occurred in 2023, when the joint venture secured a $330 million refinancing loan to fund ongoing upgrades and lease expansions in response to evolving market dynamics.[4] This five-year, fixed-rate financing, led by Bank of America with mezzanine support from Taconic Capital, underscores the building's sustained value, at 99% occupancy as of 2023.[27] Post-renovation efforts have prioritized sustainability, earning LEED Gold certification and integrating features like co-working spaces and enhanced retail components to support modern tenancy needs.[4]

References

  1. 11 West 42nd Street - The Skyscraper Center
  2. Salmon Tower (Manhattan, 1927) - Structurae
  3. 11 West 42nd Street Office Space Guide
  4. [PDF] American Builder 1927-01: Vol 42 Iss 4 - USModernist
  5. Tishman Speyer JV Closes $330M Refi for NYC Office Tower - CPE
  6. Nearby Architecture - Bryant Park
  7. Half of the Land is Sold Under Salmon Tower - The New York Times
  8. The Grounds - Bryant Park
  9. NYC: Salmon Tower Building (11 W. 42nd Street) - Cityscape Photo
  10. Walter J. Salmon, Sr. (1871-1953) - Mereworth Farm
  11. The Empire State Building's History Offers Hope for Today | TIME
  12. The Manhattan Skyline during the Roaring Twenties
  13. BUILDING THAT FELL CALLED 'DEFECTIVE'; Designer of Salmon ...
  14. Salmon Tower in New York City - SKYDB
  15. Salmon Tower Building - Cristina Rodero Sales
  16. [PDF] Street), Manhattan Built 1929-31; Architects Shreve, Lamb & Harmon
  17. Rent Office 11 West 42nd Street - Optimal Spaces
  18. 10 Things to Do in Bryant Park NYC - New York - Hellotickets
  19. 11 W 42nd St, New York, NY - Owner, Sales, Taxes - PropertyShark
  20. Salmon Tower
  21. RENTAL CONDITIONS IN CENTRAL ZONE; Space in New ...
  22. DAIRYMEN'S LEAGUE LEASES; Organization Takes Floor and a ...
  23. BUSINESS LEASES. - The New York Times
  24. Republicans Open Offices Here for Eastern Campaign - The New ...
  25. LEASEHOLD FINANCING ON THE INCREASE; Many Big Structures ...
  26. [PDF] Real Estate Prices During the Roaring Twenties and the Great ...
  27. Charting the Booms and Busts of NYC's Skyscraper History
  28. [PDF] The Office Sector in New York City
  29. SALMON TOWER WALL NOT A 'SPITE FENCE'; Injunction and ...
  30. Tishman Speyer, Silverstein Land $330M Refi for 42nd Street Tower
  31. New York City's Empty Offices Reveal a Global Property Dilemma
  32. Life of Bryant: Bryant Park's Transformation Into the Center of Midtown
  33. Bryant Park - Project for Public Spaces
  34. Michael Kors Renews 203K-SF HQ at 11 West 42nd Street
  35. Burberry Downsizing NYC Offices to 43K SF at 11 West 42nd Street
  36. Corporate Companies - Valentino
  37. Contact - KPF
  38. Contact Us - Leste Group
  39. National Public Radio 11 West 42nd Street, New York
  40. Future US Inc - Company Profile and News - Bloomberg Markets
  41. NYU
  42. CIT - LinkedIn
  43. TV GUIDE MOVING TO OLD NEW YORKER DIGS
  44. 11 West 42nd Street, New York, NY - CompStak - Markets
  45. [PDF] Manhattan office market report - Avison Young
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