Recent Developments
In 1957 the building was linked to neighboring 15 Broad Street, a 42-story L-shaped tower on a limestone base that tactfully echoes 23 Wall Street's facade. In 1989, JP Morgan moved its operations to 60 Wall Street, a larger and more modern building two blocks to the east. 23 Wall Street was extensively renovated in the 1990s as a training and conference facility for J.P. Morgan & Co., destroying the grand banking hall.
This building and 15 Broad Street were sold in 2003 for $100 million to Africa Israel & Boymelgreen. The two buildings have become a condominium development, Downtown by Philippe Starck, named for French designer Philippe Starck, one of a growing number of residential buildings in the Financial District. Starck made the roof of 23 Wall into a garden and pool, accessible to the residents of the development.
Africa Israel gained full control of 23 Wall Street in 2007; it was sold to a partnership of the China International Fund and Sonangol Group in 2008.
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Freedom from labor itself is not new; it once belonged among the most firmly established privileges of the few. In this instance, it seems as though scientific progress and technical developments had been only taken advantage of to achieve something about which all former ages dreamed but which none had been able to realize.”
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—C. Vann Woodward (b. 1908)