Greenmal Holding Corporation

Greenmal Holding Corporation was a financial and real estate business started by Henry Greenberg and David Malzman in New York City, in the 1920s. The firm is significant because it was a company which dealt in large amounts of capital, and was based in the financial hub of the United States.

Wall Street skyscraper

In February 1929 Greenmal Holding Corporation announced the acquisition of a $4,050,000 loan to be used to erect a thirty-three story office building,[1] located at 114[2] - 120 Wall Street.[1] The cost of construction was estimated at $12,000,000, with the edifice resting upon a fifty-one[3] caisson foundation.[4] Designed by Buchman & Kahn, the building was planned to occupy a plot measuring 23,000 square feet (2,100 m2). The site was at the South Street (Manhattan) block front, between Wall Street and Pine Street.[1] Greenberg and Malzman purchased the property in 1928 from the American Sugar Company.[5] Space in the building was leased to the Foreign Commerce Corporation, the American Sugar Refining Company, the J.G. White Management Corporation, Case, Pomeroy & Company, Anderson & Fox, the Mortgage Bond Company of New York, the Luckenbach Steamship Company, and Coverdale & Colpitts. Floor areas ranged from 4,300 to more than 20,000 square feet.[6]

Greenberg and Malzman purchased a four-story office building valued at $125,000 in April 1929. It was in the vicinity of Wall Street.[2]

New York Life Insurance Company bid $1,000,000 to foreclose a $5,569,605 lien against the skyscraper at a June 26, 1933 auction.[5] The insurance firm previously initiated a $5,000,000 suit to foreclose a consolidated mortgage on the property, on November 23, 1932. A first mortgage of $4,050,000 was given in 1929. Liens of $200,000 and $750,000 were made subsequently. The lawsuit was based on nonpayment of $150,000 in interest, on May 1, 1932. Of the amount owed only $46,040 was paid by Greenberg and Malzman.[7]

References

  1. 1 2 3 4,050,000 Loan Is Placed, New York Times, February 1, 1929, pg. 49.
  2. 1 2 Builders Take Fee and Lease To Protect Wall St. Project, New York Times, April 24, 1929, pg. 52.
  3. ↑ Fifty-One Caissons For Wall Street Edifice, New York Times, August 11, 1929, pg. RE2.
  4. ↑ Razing Buildings On Wall Street, New York Times, May 12, 1929, Page RE1.
  5. 1 2 Skyscraper Bid In By New York Life, New York Times, June 27, 1933, pg. 32.
  6. ↑ Renting Large Space, New York Times, November 3, 1929, pg. RE4.
  7. ↑ Wall St. Site In Default, New York Times, November 24, 1932, pg. 48.

Coordinates: 40°42′17″N 74°00′22″W / 40.704702°N 74.006054°W / 40.704702; -74.006054

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