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Today's Featured Building: Cocoa Exchange

1wallstreetcourt - NYC - exterior.jpg

1 Wall Street Court was originally built in 1904 at an estimated price of $600,000. Century Realty Company commissioned the construction of the office building. When it was built, it was named the Beaver building after the carved beaver ornaments over what was the Beaver Street entrance.

From 1904 to 1921, the Munson Steamship Company who dealt primarily in shipping of sugar and lumber, had their headquarters in the Beaver Building. From 1931 to 1972, the main tenant in the Beaver building was the New York Cocoa Exchange which was at the time the world’s first cocoa futures market. The actual trading floors resided on the main and mezzanine levels. The Cocoa Exchange established itself in New York in 1925 and was originally at 124 Water Street. Cocoa and cocoa products consumption increased and gained popularity very quickly in the early 1900s and United States became the world’s largest consumer. Eventually the cocoa exchange merged with the coffee and sugar exchange and became the coffee, sugar and cocoa exchange.

The Beaver building has seen several owners. After many years at the junction of Beaver and Pearl Streets and addresses of 82-92 Beaver Street and 129-141 Pearl Street, in 1985 the Beaver building received renovations and a new address of 1 Wall Street Court. Ten years later Cocoa Partners LP purchased the building and converted it to condominiums in 2006.

In 1996, the New York Landmark Preservation Commission deemed the Beaver building a Landmark building and site claiming that it is a notable example of a medium height, turn-of-the-century skyscraper of a Neo-Renaissance style.


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