Construction looking east. The Gillender Building in the center, behind
90 West Street and
Trinity Church. During the late 1890s, Helen L. Gillender Asinari was the owner of a six-story office building on the corner of Wall and Nassau Streets, having inherited ownership of the land from her grandfather George Lovett, who had purchased the site in 1849. According to media, Gillender Asinari had hurried to build the new tower prior to the anticipated enactment of new, stricter
building codes, which led to the shortcomings of the building's design, even though the regulations did not come into effect until 1916. but Gillender Asinari disputed this version, saying that "Mr. Augustus T. Gillender never has had, nor has he now, the slightest interest in the property." The construction contract was awarded to the Charles T. Willis Company, while
Hecla Iron Works, Atlas Cement Company, and the Okonite Company of Passaic were principal suppliers. The foundations were constructed in a month, with about one-third of that time devoted to shoring and underpinning adjacent walls; building and sinking caissons; and constructing the brick piers and sealing the air chambers with concrete. The first pier was ready for the grillage on August 17, 1896. The first column was set on September 3 and the last one in the tower was placed on November 16. Advertised as fully
fireproof and as the most modern tower on the market,
Takeover In 1909, financial institutions began rapidly expanding their properties within the Financial District. The
Bankers Trust Company joined the process after the
Bank of Montreal, the
Fourth National Bank, and the
Germania Life Insurance Company acquired their properties on Wall and Nassau Streets. In July 1909, Bankers Trust signed a long-term lease agreement with the Sampson family, owners of the Stevens Building; Initially, the press reported that Bankers Trust planned to build a 16-story office building wrapping around the Gillender Building, with the two bottom floors outfitted to be "one of the finest banking rooms in the city". By April 1910, the final cash price paid to Manhattan Trust was adjusted to $1,250,000; in exchange for the $250,000 difference, the Manhattan Trust retained long-term lease rights for the ground floor "and some other space in the building". The press anticipated the upcoming demolition of the Gillender Building "as the first time when such a high-class office building representing the best type of fire-proof construction" would be torn down Bankers Trust publicized the drafts by
Trowbridge & Livingston to build a 39-story tower that, when announced, would be New York City's third tallest building after the
Metropolitan Life Insurance Company Tower and the
Singer Building. Demolition was preceded with erection of a massive timber canopy over the sidewalks on Nassau and Wall Streets, and a thick wire mesh over the respective streets to protect people from falling debris. Inside, elevator shafts were converted into garbage chutes for the torn partitions and exterior masonry scrap. Openings about square were cut through the floors of all stories above the fourth, allowing demolition contractors to deposit garbage. Demolition of the Stevens Building commenced in the beginning of April 1910, Material from the building was preserved as much as possible for reuse. Two hundred and fifty men were involved in the demolition project during the daytime, and a hundred during the night. The work was timed so that the deconstruction of the steel frame was no more than two stories behind that of the brickwork. The
Times said that Volk "strode over busted balustrades like an admiral on his bridge, barking through a megaphone at his crew." The steel had gone down to the thirteenth-story ceiling by May 13. The demolition allowed observers the opportunity to look at the steel structure, Demolition was officially completed June 16, 1910, one day ahead of schedule, One journal reported that "...all previous records for rapid work were surpassed" and that "every vestige of [the Gillender Building] had disappeared" by the time work was completed. It had cost Bankers Trust $50,000 plus $500 for advance completion; the contractor also received all the scrap, valued at $25,000. The Bankers Trust Company Building, now known as
14 Wall Street, was completed in 1912, becoming the tallest banking building in the world. The bank occupied only the three lower floors; its main operations were housed elsewhere in less expensive offices. In 1931, Bankers Trust acquired and demolished the adjacent Hanover, Astor, and Pine Street Buildings, and replaced them with an annex to the original Bankers Trust Building. The annex was completed in 1933, tripling its rentable area. File:Gillender Building1896d.jpg|Top floors and spire File:Gillender Building1896c.jpg|Higher elevations File:Gillender Building1896b.jpg|Midsections File:Gillender Building1896a.jpg|Lower sections File:Gillender Building1896.jpg|Final demolition ==In media==