5 World Trade Center

5 World Trade Center's proposed design.
5 World Trade Center’s proposed design.

5 World Trade Center (also referred to as 130 Liberty Street) is a planned skyscraper at the World Trade Center in Lower Manhattan, New York City. The site is across Liberty Street, to the south of the main 16-acre (6.5 ha) World Trade Center site. The project is currently on standby while the Port Authority explores a potential sale of the lot to a developer and also finds tenants to occupy the skyscraper. The proposed building shares its name with the original 5 World Trade Center, which was heavily damaged as a result of the collapse of the North Tower during the September 11 attacks and was later demolished. The Port Authority has no plans to construct a building at 130 Liberty Street, although it is open to future development of the site as office, retail, hotel, residential or some mix of those uses.

In June 2007, JPMorgan Chase announced plans to develop the building as the headquarters of its J.P. Morgan Investment Bank. However, JPMorgan Chase’s acquisition of Bear Stearns in March 2008 put those plans in doubt, given the company will relocate J.P. Morgan to 383 Madison Avenue.

Original building (1970–2001)

The original 5 World Trade Center.
The original 5 World Trade Center.

Five World Trade Center (5 WTC) was originally a steel-framed nine-story low-rise office building built in 1970–72 at New York City’s World Trade Center and was 118 ft (36 m) tall. It suffered severe damage and partial collapse on its upper floors as a result of the September 11 attacks in 2001. The entire building was demolished by December 2001 to make way for reconstruction. The structure was L-shaped and occupied the northeast corner of the WTC site. Overall dimensions were 330 by 420 feet (100 by 130 m), with an average area of 120,000 square feet (11,000 m2) per floor.

The Chambers Street – World Trade Center (A C E trains) subway station/terminal was located under the building, and access into the station was available through the building. Shops and restaurants were in the building’s underground concourse, including the largest Borders bookstore in New York City, spread across three floors of 5 World Trade Center on the corner of the building adjacent to the intersection of Church and Vesey Streets.

In 1984, artist Joanna Gilman Hyde painted the 10,000-square-foot (930 m2) canvas titled “Self Organizing Galaxy” on the roof of 5 World Trade Center.

5 World Trade Center after the attacks from Vesey Street looking west.
5 World Trade Center after the attacks from Vesey Street looking west.

New building

5 World Trade Center (5 WTC) was expected to be designed for residential or mixed use in the original master plan for the complex by Daniel Libeskind. The building was to have a height limit of no more than 900 feet (270 m) and up to 1,500,000 square feet (140,000 m2) of floor space. Negotiations over the World Trade Center site concluded in April 2006, with private developer Larry Silverstein yielding his right to develop on the site designated for One World Trade Center along with 5 World Trade Center to the Port Authority of New York and New Jersey in exchange for assistance in financing Towers 2, 3, and 4.

The Deutsche Bank Building began undergoing deconstruction in March 2007, which was finally completed by 2011. During this time, work along Liberty Street involved preparing the northern quadrant of the site for development. After site preparation work was done, construction began on the Vehicular Security Center and Liberty Park, which are both complete as of 2016.

On June 22, 2007, the Port Authority announced that JPMorgan Chase will spend $290 million to lease the site until 2011 for construction of a 42-story building. JPMorgan Chase would eventually back out of the deal, leaving the Port Authority with no plans to build the skyscraper.

General information

Status:
On hold

Construction started:
September 9, 2011

Estimated completion:
Unknown

Roof:
743 feet (226 m)

Floor count:
42

Floor area:
1,300,000 square feet (120,000 m2)

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