Planning In September 1929,
Tishman Realty & Construction acquired plots at the southwestern corner of Lexington Avenue and 51st Street, passing it to the Bartholomew Building Corporation through intermediary Stanhope Estates Inc. The large corner lot was purchased from the Norko Realty Company and Julian Tishman & Sons, as well as two smaller lots on 51st Street from the Nichols Holding Company. The next month, the Bartholomew Building Corporation bought the land from Tishman. RCA was expected to be one of the major tenants, although the Bartholomew Building Corporation originally refused to confirm this fact. RCA had purchased the
Victor Talking Machine Company in 1929, becoming known as RCA Victor. A construction contract was immediately let to the A. L. Hartridge Company.
Raymond Hood, one of the architects involved in the
construction of Rockefeller Center, suggested negotiating with RCA and its subsidiaries to build a
mass media entertainment complex there. RCA's founder and GE's chairman,
Owen D. Young, was amenable to the proposal. At the time, RCA was seeking more independence from the operations of GE, and three months after
David Sarnoff became president of RCA in January 1930, the two companies reached an agreement to separate their operations. As part of that agreement, RCA gave some of its stock and the then-under-construction RCA Victor Building to GE, and the RCA Victor Building became known as the General Electric Building. While the facade's decorative elements were originally planned to be made of limestone, this was swapped with terracotta, and limestone was only used between the 34th and 35th floors. The Bartholomew Building Corporation conveyed the building's leasehold to RCA on January 13, 1931, and property title passed to GE ten days afterward. Construction was completed at the end of 1931. RCA had rented ten floors in January 1931, but later modified the lease to occupy only three floors. Another long-term lessee was
Childs Restaurants, who signed a 21-year lease for the ground-level retail space in July 1931. Other large companies took space at the building in its first year, including
Seversky Aircraft, the
White Sewing Machine Company, the
National Civic Federation, and the national headquarters of the
Girl Scouts of the USA. By late 1932, RCA and GE finalized an agreement in which RCA would move to Rockefeller Center and GE would take the Lexington Avenue building. RCA moved its offices out of 570 Lexington Avenue in June 1933 with the opening of 30 Rockefeller Plaza. In July and August 1933, GE moved its headquarters to the building. With this move, along with the opening of the adjacent Lexington Avenue station on the
Independent Subway System's
Queens Boulevard Line (now the ) the president of the Lexington Avenue Civic Association said that the "transformation" of the surrounding stretch of Lexington Avenue had been completed. Architects
Pruitt & Brown filed plans in January 1935 to convert the top two floors into a clubhouse for the Elfun Society, a group of GE executives. By that year, 75% of space in the building was occupied, despite the economic downturn caused by the
Great Depression. That July, the dining rooms on the 48th and 49th floors were heavily damaged in a fire, the highest ever fought by the
New York City Fire Department at the time. Later in the 1930s, the
Citizen Savings Bank opened a bank branch in the building. Other large tenants in the 1940s and 1950s included attorneys Reed, Crane De Give, as well as the Manhattan Savings Bank.
1960s to 1980s An "automatic cafeteria" without a kitchen opened in the General Electric Building in 1961. The building's lights were replaced three years later, and GE moved some of its offices to two other Midtown buildings. By the early 1970s, GE considered constructing a new headquarters in
Fairfield, Connecticut. The new headquarters opened in 1974, and the Canadian offices of GE moved to the space that the executive offices had vacated at 570 Lexington Avenue. In subsequent years, much of 570 Lexington Avenue's space subsequently became vacant. between 1982 and 1988, the building's crown was not illuminated when renovation was nearly complete. Further confusing the situation, 30 Rockefeller Plaza's former name had been the RCA Building, but 570 Lexington Avenue had also been known by that name during its construction.
1990s to present GE donated 570 Lexington Avenue to
Columbia University in 1993, gaining a $40 million tax deduction. The university formed a joint venture with
Bernard H. Mendik's Mendik Company and Quantum Realty Partners, and planned a renovation to attract tenants. By the end of 1995, Mendik and Quantum Realty were leasing out space within 570 Lexington Avenue. At the time, the building's yearly asking prices per square foot were described as being barely
market rate, with being asked on the lower floors, and for the upper floors. Additionally, 570 Lexington Avenue was not located on such a prestigious street, and its design precluded modifications such as
dropped ceilings, raised floors, or column removals.
Vornado Realty Trust bought Mendik's company in 1997 and increased its ownership stake in 570 Lexington Avenue to a half stake in 1998.
The Feil Organization bought the building in February 2001 for $120 million. By the 2010s, the building's tenants included
Cornell University,
Cornwall Capital, Asset.tv,
Air India, and the
Roosevelt Institute. Additionally, in 2018, Urbanspace opened a three-story food hall in the building's base. == Impact ==