Wondering how the American Stock Exchange Building came to be? This building stands as a testament to New York’s financial history. It represents a time when stock trading occurred outside the confines of the New York Stock Exchange.
Let’s step back to the early 20th century. The New York Curb Exchange, the predecessor to the American Stock Exchange, conducted its business outdoors. Traders stood “on the curb” buying and selling securities. This informal setup lacked the prestige of the NYSE.
In 1921, the New York Curb Exchange finally moved indoors. The American Stock Exchange Building was erected. This marked a significant turning point. The building improved the stature of the Curb Exchange.
The exchange continued to grow. Between 1929 and 1931, the building underwent a major expansion. This was due to an increase in trading volume. Starrett and van Vleck designed both the original building and its expansion. The original section facing Greenwich Street showcases Renaissance Revival style. Large arched windows illuminate the former trading floor. The expansion on Trinity Place is Art Deco with 14 stories. It included offices, conference rooms, and an elaborately decorated facade.
In 1953, the New York Curb Exchange was renamed the American Stock Exchange. For decades, the American Stock Exchange Building served as its headquarters. In 1978, it was designated a National Historic Landmark. The New York City Landmarks Preservation Commission followed suit in 2012.
The American Stock Exchange merged with the NYSE in 2008. Subsequently, the American Stock Exchange moved out. Developers purchased the building with plans for a hotel conversion. The building’s architecture is notable. The Greenwich Street facade features gray brick and arched windows. These windows recall the open-air market atmosphere of its early days. The Trinity Place facade stands 14 stories tall. It is designed in the Art Deco style. Limestone and granite compose its exterior.
Inside, the original trading floor was a vast space. It boasted a coffered ceiling and street lamp-like traders’ posts. A renovation expanded the trading floor. It added new technology and features. The American Stock Exchange Building stands as a reminder of New York’s dynamic financial past. It links today’s Wall Street to its more informal origins.