The historic former American Stock Exchange in Manhattan\u00a0is raining potentially deadly debris on the street \u2014 earning its billionaire owner a criminal summons over its lame sidewalk shed, according to the city.<\/p>\n
The unsightly, ineffective sidewalk shed at the landmarked 15-story site at 86 Trinity Place was erected in late 2017 while repairs were being made to the building\u2019s fa\u00e7ade, a city Department of Buildings rep said.
Eight years later, the green-painted eyesore remains \u2014 and \u201cthe owner has not made meaningful progress toward repairs\u201d including so much as filing the proper fa\u00e7ade-repair paperwork, the agency said.<\/p>\n
The site \u2014 owned by mega-wealthy entrepreneur Ron Burkle\u2019s Yucaipa Companies \u2014 remains in a \u201cstate of dangerous disrepair,\u2019\u2019 the DOB said.<\/p>\n
Pedestrians precariously pass the former American Stock Exchange in Manhattan\u2019s Financial District. Bloomberg via Getty Images<\/p>\n
Falling debris from the dilapidated building as recently as this month prompted a partial vacate order at nearby 76 Trinity Place \u2014 which houses a preschool and community center as well as offices \u2014 because its conditions were \u201cimmediately perilous to life,\u201d according to an Aug. 4 city notice.<\/p>\n
Nearby workers told The Post they\u2019re concerned that other neighbors, including students at the Leadership & Public Service High School directly next to the former stock exchange, could be imperiled if nothing changes.<\/p>\n
\u201cThere is a school right there, there is kids walking around here,\u201d a cleaner working in the area told The Post. \u201cThere is tourists. It\u2019s dangerous, they\u2019ve got to do something about it.\u201d<\/p>\n
The building\u2019s facade is dangerously crumbling, city officials said. NYC DOB<\/p>\n
A construction foreman, Javier Lama, who was working on another building nearby, said the scaffolding on the sidewalk shed \u201cis in really bad shape.\u2019\u2019<\/p>\n
He pointed to loose boards and debris, wood and pipes littering the ground.<\/p>\n
\u201cIt\u2019s dangerous, you can see the panels swaying,\u2019\u2019 he said.<\/p>\n
Yucaipa Companies ghosted a July 1 court date, which has been adjourned to Sept. 9, the DOB said.<\/p>\n
A palm-sized chunk of fa\u00e7ade that fell this month from the building. NYC DOB<\/p>\n
If its reps don\u2019t appear again, the city is seeking a default judgment that will mandate the owner to cough up $25,000, the agency said.<\/p>\n
But the amount is a relatively miniscule penalty, given the nearly quarter-million dollars in fa\u00e7ade-related violations it already owes the city since it bought the property in 2021 for $155 million, the agency said.<\/p>\n
\u201cSidewalk sheds are meant to be a temporary safety measure, not a permanent band-aid for neglect,\u201d Buildings Commissioner Jimmy Oddo told The Post.<\/p>\n
\u201cWhen building owners let dangerous conditions linger for years without making repairs, they put the public at risk and leave entire blocks shrouded in darkness.\u201d\u00a0<\/p>\n
The 176,000-square-foot complex, built in 1921, served as the American Stock Exchange from the 1950s to 2008 and was designated a National Historic Landmark in 1978.<\/p>\n
The city Department of Buildings called the conditions at 86 Trinity Place \u201cimminently perilous to life.\u201d Desheania Andrews\/NY Post<\/p>\n
While a former owner, Clarion, planned to turn the landmark into a retail and hotel development, it\u2019s unclear if or how Burkle\u2019s group might convert the building.<\/p>\n
A representative from Yucaipa Companies did not return multiple Post requests for comment.<\/p>\n
The sidewalk shed is among the latest targets of Mayor Eric Adams\u2019 Get Sheds Down initiative \u2013 which has used the courts to bring down the ugly green eyesores after repeated calls for owners to comply fall on deaf ears.<\/p>\n
Nearly 400 longstanding sheds have come down across the city since the 2023 launch of the program \u2014 and the DOB is now going after sheds installed without any progress being made on repairs.<\/p>\n
\u201cOld, outdated scaffolding is an eyesore on our beautiful city, and our administration will hold those responsible accountable,\u201d Mayor Eric Adams said. NYC DOB<\/p>\n
A closed terrace is part of a neighboring building\u2019s partial-vacate order.<\/p>\n
\u201cOld, outdated scaffolding is an eyesore on our beautiful city, and our administration will hold those responsible accountable,\u201d Mayor Eric Adams said.<\/p>\n
\u201cLong-term sheds are never a substitute for keeping buildings in safe condition, and with new enforcement tools and expanded staffing, we expect to bring down even more sheds in the years to come.\u201d<\/p>\n
More than 100 other sidewalk sheds have been up for longer than 86 Trinity Place, including two 15-year-old sheds in Manhattan and over two dozen sheds that are over a decade old, according to a Post analysis of Buildings records.<\/p>\n
Until the green blight comes down, neighbors remain fearful over potential debris falling from the sky.<\/p>\n
\u201cTo me, it\u2019s almost screaming a lawsuit,\u201d a passer-by told The Post. \u201cYou have Wall Street, it\u2019s supposed to be one of the nicest areas in the world. \u2026 What\u2019s going on?\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The historic former American Stock Exchange in Manhattan\u00a0is raining potentially deadly debris on the street \u2014 earning its…\n","protected":false},"author":3,"featured_media":178114,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,88681,5248,405,403,7619,42135,5226,5225,5228,5227,43558,67,586,132,5230,68,1154,2969,3642],"class_list":{"0":"post-178113","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-department-of-buildings","10":"tag-metro","11":"tag-new-york","12":"tag-new-york-city","13":"tag-new-york-city-life","14":"tag-new-york-stock-exchange","15":"tag-newyork","16":"tag-newyorkcity","17":"tag-ny","18":"tag-nyc","19":"tag-tribeca","20":"tag-united-states","21":"tag-united-states-of-america","22":"tag-unitedstates","23":"tag-unitedstatesofamerica","24":"tag-us","25":"tag-us-news","26":"tag-usa","27":"tag-wall-street"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/178113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=178113"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/178113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/178114"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=178113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=178113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=178113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}