5 World Trade Center

5 World Trade Center, also called 130 Liberty Street, is a new skyscraper that is being planned for the World Trade Center area in Lower Manhattan, New York City. The site is just across Liberty Street from the main World Trade Center area. In February 2021, it was announced that the new building will be built by a team from Silverstein Properties and Brookfield Properties. This new building will share its name with the original 5 World Trade Center, which was badly damaged when the North Tower fell down during the September 11 attacks and was taken down later.

Originally, in June 2007, the company JPMorgan Chase wanted to build a headquarters there for its investment division, J.P. Morgan & Co.. But after JPMorgan Chase bought another company called Bear Stearns in March 2008, they moved their offices to 383 Madison Avenue. Then, in June 2019, the Port Authority and the Lower Manhattan Development Corporation asked companies to share ideas for what could be built on the site through a request for proposal.

As of February 2021, a new plan was shared for the new 5 World Trade Center. The design calls for a very tall building that will be 910 feet tall and have space for many people to use, like shops and offices. It will have about 1,560,000 square feet of area.

Original building (1970–2001)

5 World Trade Center was a nine-story office building built between 1970 and 1972 in New York City. Designed by Minoru Yamasaki and Emery Roth & Sons, it stood 118 feet tall with a black exterior. The building was located at the northeast corner of the World Trade Center site.

During the September 11 attacks in 2001, the upper floors of the building suffered damage and partial collapse due to fires and debris from the nearby towers. Floors 1 to 3 remained undamaged. The building was later demolished in December 2001 to make way for new construction. The area once occupied by 5 World Trade Center now has a new building planned, with 2 World Trade Center set to stand in its place.

New building

Larry Silverstein leased the original World Trade Center from the PANYNJ in 2001. After the September 11 attacks, plans were made to rebuild the area. In 2003, an architect named Daniel Libeskind won a competition to design the new World Trade Center, which would include five towers and a memorial.

Plans for a tower called 5 World Trade Center began in 2004. It was supposed to be about 57 stories tall and hold lots of space for people to live or work. However, these plans were delayed because of disagreements about who would build the towers.

In 2021, it was announced that a new 5 World Trade Center would be built by Silverstein Properties and Brookfield Properties. The new design is for an 80-story building that will include homes, offices, and public spaces. Construction was supposed to start in 2024 but has been delayed due to rising costs.

Construction history

2000s and 2010s plans

In 2007, JPMorgan Chase planned to build a 42-story building at the site but later changed their mind and decided not to build there. In 2009, because of the economic downturn known as the Great Recession, plans to build 5 World Trade Center were put off. The Port Authority took over responsibility for the site in 2010.

In 2011, the Port Authority began preparing the site for development. By 2014, the area was temporarily used for parking. In 2019, a new plan was announced for the site, and in 2021, Silverstein Properties and Brookfield Properties confirmed their partnership to develop the site.

Revival of plans

In 2023, plans were updated to include 1,200 homes, with 400 of them set aside as affordable housing. However, by 2026, development had stalled due to rising costs.

Design

The original design for the tower was created by Kohn Pedersen Fox. In 2021, a new design was announced for a mixed-use tower that will be 910 feet tall and have 80 stories. The building will include homes, offices, and public spaces. However, as of March 2026, plans for the building are on pause due to rising costs.