48 Wall Street Facade Investigation / Repair and Cupola Restoration New York, New York

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48 Wall Street Facade Investigation / Repair and Cupola Restoration New York, New York The oldest commercial bank in the country, The Bank of New York was headquartered at 48 Wall Street until 1999, when the bank moved to One Wall Street. Designed by Benjamin Wistar Morris and completed in 1929, 48 Wall Street is a New York City Landmark and is listed on the National Register of Historic Places. It now houses the Museum of American Finance. Crowning 48 Wall Street’s uppermost Corinthian-columned tower is a large copper eagle, an iconic figure presiding over the financial district. Swig Equities, LLC retained Hoffmann Architects to investigate conditions at this uppermost cupola to identify and protect against deterioration. Observed defects included concrete degradation, structural steel corrosion, open joints at the lead-coated copper cupola, and damage to the eagle. Swig Equities asked Hoffmann Architects to develop and oversee restoration of the ornamental cupola and eagle, a program which demanded both historic sensitivity and an understanding of material properties in response to time and the elements. Hoffmann Architects has conducted investigations pursuant to New York City Local Law 10 of 1980 and Local Law 11 of 1998 at 48 Wall Street since 1996, preparing and filing reports each cycle with the Department of Buildings on behalf of the Bank of New York and, later, Swig Equities. Our facade experts also designed and oversaw repairs for conditions identified in the investigation, and we developed con- tract documents and provided bidding and construction administration services for a roof replacement at the historic building. After the September 11, 2001 attacks on the World Trade Center Tow- ers, a number of buildings in the area experienced building envelope distress, particularly at those facades facing the site of the collapse. Hoffmann Architects was retained to investigate loose masonry and extensive water infiltration into the elevator shaft at 48 Wall Street, which periodically removed the elevators from service. After a condition evaluation, Hoffmann Architects designed a program of masonry, exterior stucco, concrete, and steel rehabilitation to restore water-tightness and wall system integrity to the tremor-damaged structure. Hoffmann Architects Specialists in the Rehabilitation of Building Exteriors.

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Museum of American Finance
By Katie Petito Alexander Hamilton would be proud. Founded in 1794 by Hamilton, the first treasury secretary of the U.S., the Bank of New York, opened its first building at the Walton House in Lower Manhattan on June 9, 1784, only a few months after the departure of British troops from American soil. In 1797, the Bank laid the cornerstone for its first building at 48 Wall Street – a two-story Georgian building that served as the bank’s headquarters through the beginning of the 19th century. Although the original building no longer stands, its cornerstone can be seen at the current 48 Wall Street building. The 48 Wall Street building, located one block east of the New York Stock Exchange, will be the new home to the Museum of American Finance. The 30,000-square foot space occupies three of the landmark building’s 36 floors, increasing the Museum’s exhibit space by ten-fold. The Museum, now housed in the Standard Oil Building at 26 Broadway, will open in its new location in early spring 2007, but will honor its financial roots sooner with a symposium on January 11, 2007, to celebrate Alexander Hamilton’s 250th birthday. The symposium will also offer guests a sneak peek at the Museum’s Alexander Hamilton exhibit. A grand opening for the general public will be announced at a later date. “Perhaps there is no more fitting home for the Museum of American Finance than the former headquarters of New York’s first bank, which was founded by Alexander Hamilton, creator of our nation’s financial system,” said John Herzog, founder and chair of the Museum.
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