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375 Pearl Street
Seen in 2018 with the old logo, after its 2016 renovation
General information
Type	Office
Location	Manhattan, New York City
Coordinates	40°42′39″N 74°00′04″W / 40.71081°N 74.00118°W / 40.71081; -74.00118
Completed	1975
Renovated	2016–2018
Owner	Sabey Data Centers Properties
Height
Roof	540 feet (160 m)
Technical details
Floor count	32
Floor area	1.098 million square feet (102×10^ m)
Design and construction
Architect(s)	Rose, Beaton & Rose

375 Pearl Street (also known as the Intergate.Manhattan, One Brooklyn Bridge Plaza, and Verizon Building) is a 32-story office and datacenter building in the Civic Center of Lower Manhattan in New York City, at the Manhattan end of the Brooklyn Bridge. It was built for the New York Telephone Company and completed in 1975. It was renovated in 2016.

History

The building was built for the New York Telephone Company and was completed in 1975. The building originally appeared windowless but had several 3-foot-wide slits (0.91 m) (some with glass) running up the building. As it approached completion, The New York Times architecture critic Paul Goldberger decried it as the "most disturbing" of the phone company's new switching centers because it "overwhelms the Brooklyn Bridge towers, thrusts a residential neighborhood into shadow and sets a tone of utter banality."

In the 1990s and 2000s, Verizon switching operations included a small DMS-100 telephone exchange and a Switching Control Center System. The building's CLLI code, its identification in the telecommunications industry, was NYCMNYPS. The Pearl Street CS2K softswitch was the recipient of voice traffic from decommissioned legacy switches in the city.

2000s

The building played an important part in recovering service to the New York City Police Department following the September 11, 2001 attacks. Prior to 2002, the building featured the logo of New York Telephone and Bell Atlantic; that year, the sign was replaced with the logo of Verizon.

In September 2007 it was announced that Taconic Investment Partners had purchased the building from Verizon, which leased back floors 8 through 10. Taconic bought the 1.098-million-square-foot building (102,000 m) for $172.05 million, which amounted to $185 a foot when property was selling in Manhattan for $500 a foot. Other appeals of the building were its 16- to 17-foot (5.2 m) ceilings and 39,000-square-foot (3,600 m) floor plans as well as the naming rights. Taconic had announced plans to replace the facade with a glass curtain wall designed by Cookfox. The New York Times wrote:

Paul E. Pariser, co-chief executive of Taconic, said a reporter had told him: 'Mr. Pariser, you have a challenge cut out for you — turning a G.E. dishwasher into an office building.' I like that challenge.

2010s to present

In early June 2011, data center operator Sabey Data Centers Properties purchased the deed in lieu of foreclosure from M&T Bank for $120 million, considerably less than what Taconic had paid a few years earlier. Sabey had initially intended to partner with YoungWoo & Associates but instead hired National Real Estate Advisors as its development partner. Sabey intended to redevelop the property as a major Manhattan data center and technology building called Intergate.Manhattan. John Sabey, president of the company, said Intergate.Manhattan would appeal to "new scientific, academic and medical research centers" in addition to data center tenants.

In 2012, The Daily Telegraph ranked 375 Pearl Street as the 20th "ugliest building in the world". Starting in 2016, the building was renovated. The limestone walls on the top 15 stories were removed and replaced with plate glass panels to improve the building's aesthetics and attract traditional office tenants. Leasing of the office stories had started in January 2016. Sabey placed the 15th through 30th stories for sale in 2018 for over $300 million. The space was instead leased to tenants like the New York City Police Department and Rafael Viñoly Architects. Viñoly Architects bought the floors that it occupied in July 2020.

Sabey and National Real Estate Advisors refinanced the building in June 2021. Wells Fargo and JPMorgan Chase gave the owners a $220 million fixed-rate loan as well as a $30 million mezzanine loan.

Tenants

The building was traditionally home primarily to telecommunications tenants, but following the renovations has attracted numerous traditional office users. The New York City government occupies a significant area of the building including the NYPD with 106,000 square feet (9,800 m) on the 15th through 17th floors, the Human Resources Administration with 194,000 square feet (18,000 m), the Department of Finance with 175,000 square feet (16,300 m), and the Department of Sanitation with 72,000 square feet (6,700 m). Following the 2021 New York City mayoral election, the space also contained an office for mayor Eric Adams.

Following the renovation, Rafael Viñoly Architects signed a 20-year, 36,550 square feet (3,396 m) lease for the 31st floor of the building in July 2018.

See also

• 33 Thomas Street
• Verizon Building, 140 West Street

References

1. "Tall Buildings in Selected North American Cities - history.com". Archived from the original on February 8, 2010. Retrieved January 15, 2008.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
2. "One Brooklyn Bridge Plaza". SkyscraperPage. Retrieved September 7, 2013.
3. Kimmelman, Michael (June 2, 2016). "New York Above 800 Feet". The New York Times. ISSN 0362-4331. Retrieved November 1, 2019.
4. "Intergate Manhattan, New York City | 115587 | EMPORIS". Emporis. Archived from the original on April 26, 2018. Retrieved November 1, 2019.{{cite web}}: CS1 maint: unfit URL (link)
5. ^ Dunlap, David W. (January 15, 2008). "Open a New Window: A Tower With a View". The New York Times. ISSN 0362-4331. Retrieved November 1, 2019.
6. Goldberger, Paul (December 6, 1975). "When Building for Future Means a Step Backward". The New York Times. ISSN 0362-4331. Retrieved November 1, 2019.
7. "Retirement and Removal of Verizon Broadway 4ESS Tandem (NYCMNYBW21T)" (PDF). Verizon.com. Verizon. December 8, 2009. Archived from the original (PDF) on January 1, 2014. Retrieved February 9, 2013.
8. Lee, Denny (May 19, 2002). "Neighborhood Report: New York Signs; Verizon Lays Ma Bell to Rest With a Very Visible Swoosh". The New York Times. ISSN 0362-4331. Retrieved November 1, 2019.
9. Weiss, Lois (September 26, 2007). "Downtown Tower Deal; Verizon Sells Cheap to Taconic". New York Post. Retrieved September 4, 2009.
10. ^ "Office conversion plans dropped as former Verizon tower changes hands for $120M". The Real Deal New York. June 8, 2011. Retrieved May 5, 2022.
11. Fernandez, Tommy (June 7, 2011). "Downtown's Verizon tower fetches $120M". Crain's New York Business. Retrieved May 5, 2022.
12. "Intergate.Manhattan". Sabey. Archived from the original on July 28, 2012. Retrieved September 7, 2013.
13. "Sabey Acquires Huge Verizon Building in NYC". Data Center Knowledge. June 7, 2011. Retrieved September 7, 2013.
14. "Are these the ugliest buildings in the world?". The Daily Telegraph. April 10, 2012. Archived from the original on May 5, 2013. Retrieved September 7, 2013.
15. Baird-Remba, Rebecca (August 1, 2016). "Former Verizon Building at 375 Pearl Street Gets a New Look". New York YIMBY. Archived from the original on July 30, 2019.
16. Baird-Remba, Rebecca (March 12, 2019). "Under Construction: The Former Verizon Building at 375 Pearl Street". Commercial Observer. Retrieved May 5, 2022.
17. Wilson, Reid (January 15, 2016). "Office Renovation, Leasing Underway At 32-Story Verizon Building, 375 Pearl Street, Civic Center". New York YIMBY. Retrieved January 16, 2016.
18. "375 Pearl Street | Sabey Data Centers". The Real Deal New York. November 6, 2018. Retrieved May 5, 2022.
19. Baird-Remba, Rebecca (August 24, 2018). "NYPD Nears Lease for 106K SF at 375 Pearl Street". Commercial Observer. Retrieved May 5, 2022.
20. Mashayekhi, Rey (July 10, 2018). "Rafael Viñoly Architects Moving NYC Offices to Former Verizon Building". Commercial Observer. Retrieved May 5, 2022.
21. Matsuda, Akiko (February 3, 2021). "Manhattan's Office Condo Price Sees 32% Decline in 2020". The Real Deal New York. Retrieved May 5, 2022.
22. Cunningham, Cathy (June 18, 2021). "Wells Fargo, J.P. Morgan Close $250M Refi for 375 Pearl Street". Commercial Observer. Retrieved May 5, 2022.
23. "Owners of 375 Pearl Street get $250M Refi". The Real Deal New York. June 21, 2021. Retrieved May 5, 2022.
24. Baird-Remba, Rebecca (October 25, 2018). "NYPD Nails Down 106K SF at 375 Pearl Street". Commercial Observer. Retrieved July 15, 2022.
25. "NYC Mayor Adams Has Secret Office at Sabey's 375 Pearl Street". The Real Deal New York. July 13, 2022. Retrieved July 15, 2022.
26. Mashayekhi, Rey (July 10, 2018). "Rafael Viñoly Architects Moving NYC Offices to Former Verizon Building". Commercial Observer.

External links

• Official website
• Media related to 375 Pearl Street at Wikimedia Commons

v t e Civic Center
Manhattan, New York City
Government buildings	1 Police Plaza Daniel Patrick Moynihan United States Courthouse Home Life Building Jacob K. Javits Federal Building Louis J. Lefkowitz Building Manhattan Municipal Building Metropolitan Correctional Center New York City Hall New York County Courthouse Surrogate's Courthouse Ted Weiss Federal Building Tweed Courthouse Thurgood Marshall United States Courthouse United States Court of International Trade
Non-government buildings	Current buildings 5 Beekman Street 8 Spruce Street 49 Chambers 150 Nassau Street 280 Broadway 287 Broadway 375 Pearl Street Hall des Lumieres Ahrens Building Broadway–Chambers Building Firehouse, Engine Company 31 Morse Building New York Times Building Park Row Building Potter Building Rogers Peet Building Southbridge Towers St. Andrew Church Tower 270 Transportation Building Woolworth Building Former Astor House Bridewell City Hall Post Office and Courthouse New York Tribune Building New York World Building Rogers Peet Building Samuel Osgood House St. Joachim's Church The Rotunda Washington Hall
Other spaces	African Burial Ground National Monument City Hall Park Drumgoole Plaza Five Points (former) Foley Square Millennium Park
Education	Pace University 1 Pace Plaza 41 Park Row Michael Schimmel Center for the Arts
Transport	Subway stations Brooklyn Bridge–City Hall/Chambers Street City Hall City Hall (former) Worth Street (former) Streets Broadway Chambers Street Centre Street Lafayette Street Park Row Worth Street
See also: Manhattan Community Board 1

• 1976 establishments in New York City
• Civic Center, Manhattan
• Office buildings completed in 1976
• Skyscraper office buildings in Manhattan
• Telecommunications buildings in the United States
• Telephone exchange buildings