History of The Edifice
The Gallatin Bank structure, which opened in 1887, was built on land purchased after the resignation of bank president James Gallatin, in 1868, and the beginning of the term of his successor, Frederick D. Tappen. The edifice endured for forty-two years and was the home of important financial firms. The Gallatin Bank Building was one of the most distinguished establishments on Wall Street from the late 19th century through the second decade of the 20th century. It was destroyed to make room for a new structure completed by the Bank of Manhattan Company in late 1929. The new edifice at 40 Wall Street occupied 100,000 square feet (9,300 m2) of space. The Bank of Manhattan building was 64 stories in height and became the tallest office building in the world when finished.
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