The Trump Building is a 70-story skyscraper in New York City. Originally known as the Bank of Manhattan Trust building, and also known as the Manhattan Company Building, it was later known by its street address 40 Wall Street when its founding tenant merged to form the Chase Manhattan Bank.
The building, between Nassau Street and William Street in Manhattan, New York City, was completed in 1930 after only 11 months of construction.
The building was designed by H. Craig Severance, along with Yasuo Matsui (associate architect), and Shreve & Lamb (consulting architects). Edward F. Caldwell & Co. designed the lighting. Der Scutt of Der Scutt Architect designed the lobby and entrance renovation. Its pinnacle reaches 927 feet (283 m) and was very briefly the tallest building in the world, soon surpassed by a spire attached to the Chrysler Building a few months later.
In 1995 40 Wall Street was bought by Donald Trump and later renamed The Trump Building. He planned to convert the upper half of it to residential space, leaving the bottom half as commercial space. However, the cost of converting it to residential space proved to be too high, and it remains 100% commercial space. He tried to sell the building in 2003, expecting offers in excess of $300 million. Such offers did not materialize, and Trump retains control of the building. In the ninth episode of the fourth season of The Apprentice, Trump claimed he only paid $1 million for the building, but that it was actually worth $400 million. This episode aired November 17, 2005. On CNBC’s The Billionaire Inside, Trump again claimed he paid $1 million for the building, but stated the value as $600 million, a $200 million increase from two years earlier. The episode aired October 17, 2007 on CNBC.
It is also stated that the building was bought for $1 million, in the 2005 book Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor written by George H. Ross (his legal advisor). However, it has also been reported that Trump paid $10 million for the building.
In 1998, the building was designated a landmark by the New York City Landmarks Preservation Commission. The tower is the tallest mid-block building in New York City.