388 Greenwich Street
| Industry | Financial services |
|---|---|
| Founded | 1812 |
| Headquarters | New York City , United States |
Area served | Worldwide |
| Products | Financial services |
| Website | www |
388 Greenwich Street, previously known as Shearson Lehman Plaza and more recently the Travelers Building, is a commercial skyscraper situated in Manhattan's Tribeca district of New York City. Positioned on Greenwich Street with additional frontages along North Moore Street and West Street, it forms a complex together with the neighboring 10-story structure at 390 Greenwich Street near the Hudson River. This duo functions as the worldwide headquarters for the financial services corporation Citigroup. Ranking among the tallest buildings in TriBeCa, 388 Greenwich offers various amenities including a fitness center, dining options, medical and conference facilities, daycare services, and an outdoor park area. It is notable for being one of the rare New York skyscrapers equipped with double-deck elevators. After the events of the September 11 attacks, its courtyard served as a triage zone.
History
In December 2007, to reduce its real estate holdings, Citigroup sold both 388 and 390 Greenwich Street to a partnership between SL Green Realty and SITQ for $1.58 billion. Despite the sale, Citigroup maintained occupancy through a leaseback agreement lasting 15 years. In 2016, Citigroup reacquired the property for $2 billion and shifted its headquarters from 399 Park Avenue to this location.
That same year, Citigroup initiated a renovation project overseen by Skidmore, Owings & Merrill, which involved installing a glass curtain wall on the lower levels of 388 Greenwich as well as across all floors of 390 Greenwich facing west. The interior refurbishment included a redesigned lobby crafted by Gensler.
Umbrella icon
On the building's northern facade, a 50-by-50-foot, four-story red neon umbrella sign was installed in May 1997. While some regarded it as a symbolic feature, others considered it visually distracting. Complementing this was a large steel red umbrella sculpture measuring 16 feet tall and weighing 5,300 pounds positioned at street level outside 388 Greenwich Street. Both the neon sign and the sculpture were removed by mid-2007 following an agreement between Citigroup and St. Paul Travelers Companies, who had acquired rights to the logo.