Word: citicorp
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Dates: during 1970-1979
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...Almost from its beginnings, Citicorp Center was envisioned as a place to shop and savor and feast at all hours, an In spot in the inner city. To Citicorp Chairman Walter Wriston, it will be "a living, positive part of the neighborhood, 24 hours a day, for decades to come. We would like to think of the Citicorp Center as the cornerstone of a new New York...
...Center is divided into three parts. There is the skyscraper, with 1.3 million sq. ft. of office space. The Market, three floors of a glass-roofed, tree-dotted building within a building, houses shops and restaurants. And, paying its dues to God as well as Mammon, Citicorp Center includes one of the most beautiful churches to be erected in Manhattan in this century, a jagged 85-ft.-high polygonal structure of granite and glass that stands free of the office tower and shares a sunken plaza with The Market...
...creation of Citicorp Center might have been scripted by Ross Macdonald in collaboration with Pirandello (Six Characters in Search of an Author). It all began one Saturday afternoon in September 1968. Two ambitious real estate brokers, Donald Schnabel, then 36, and Charles McArthur, then 45, had heard that Saint Peter's might be for sale. As Schnabel and McArthur cased the other buildings in the block, they became possessed of what is almost an impossible dream in modern Manhattan: "assembling" all the parcels so that one mighty building could rise on the site...
...Studley, then 41, head of an aggressive real estate firm in the neighborhood. "Who would put up the building?" Studley mused; then he had an idea. "How about the people across the street?" Across the street, as it happened, was the corporate headquarters of First National City Corp. (now Citicorp...
...land was free and clear. Amazingly, there were no real holdouts among the 17 property owners, but it did take 3½ years to get the doctors who owned the Medical Chambers group to capitulate. The trouble was that they did not want cash. Finally, the doctors merged with Citicorp, with the medics getting $6.8 million worth of Citicorp shares...