Trimont was engaged by a major global investment bank to provide asset management and servicing on $162 million of senior and subordinate loans.
The Woolworth building is one of the oldest skyscrapers in the United States. Built in 1913 and designed by Cass Gilbert, it remains, at 792 feet (60 stories), one of the fifty tallest buildings in the country. The building was constructed in the neo-Gothic style and has some resemblance to European Gothic cathedrals. Financed in cash by the five-and-dime millionaire Frank W. Woolworth, the Woolworth Company initially occupied one and one-half floors of the building. As the owner, the Woolworth Company profited substantially from renting the space out to other tenants. The building is still regarded as an architectural gem and remains a favorite sight on the New York City skyline.
- At the time of its completion, the building was dubbed “The Cathedral of Commerce” because of its ornately carved wood and marble interiors, glittering gold terrazzo ceilings, and gilded tracery.
- At 792 feet, the building would remain the world’s tallest building for 17 years.
- At the opening ceremony in 1913, President Woodrow Wilson pressed a button in the White House that lit up the entire façade of the building (a new innovation at the time).