Exclusive | Historic former NY stock exchange building in ‘perilous’ disrepair –

The historic former American Stock Exchange in Manhattan is raining potentially deadly debris on the street — earning its billionaire owner a criminal summons over its lame sidewalk shed, according to the city.

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’s façade, a city Department of Buildings rep said.
Eight years later, the green-painted eyesore remains — and “the owner has not made meaningful progress toward repairs” including so much as filing the proper façade-repair paperwork, the agency said.

The site — owned by mega-wealthy entrepreneur Ron Burkle’s Yucaipa Companies — remains in a “state of dangerous disrepair,’’ the DOB said.

Falling debris from the dilapidated building as recently as this month prompted a partial vacate order at nearby 76 Trinity Place — which houses a preschool and community center as well as offices — because its conditions were “immediately perilous to life,” according to an Aug. 4 city notice.

Nearby workers told The Post they’re 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.

“There is a school right there, there is kids walking around here,” a cleaner working in the area told The Post. “There is tourists. It’s dangerous, they’ve got to do something about it.”

A construction foreman, Javier Lama, who was working on another building nearby, the scaffolding on the sidewalk shed “is in really bad shape.’’

He pointed to loose boards and debris, wood and pipes littering the ground.

“It’s dangerous, you can see the panels swaying,’’ he said.

Yucaipa Companies ghosted a July 1 court date, which has been adjourned to Sept. 9, the DOB said.

If its reps don’t appear again, the city is seeking a default judgment that will mandate the owner to cough up $25,000, the agency said.

But the amount is a relatively miniscule penalty, given the nearly quarter-million dollars in façade-related violations it already owes the city since it bought the property in 2021 for $155 million, the agency said.

“Sidewalk sheds are meant to be a temporary safety measure, not a permanent band-aid for neglect,” Buildings Commissioner Jimmy Oddo told The Post.

“When building owners let dangerous conditions linger for years without making repairs, they put the public at risk and leave entire blocks shrouded in darkness.” 

The 176,000-square-foot complex, built in 1921, served as American Stock Exchange from 1950s to 2008 and was designated a National Historic Landmark in 1978.

While a former owner, Clarion, planned to turn the landmark into a retail and hotel development, it’s unclear if or how Burkle’s group might convert the building.

A representative from Yucaipa Companies did not return multiple Post requests for comment.

The sidewalk shed is among the latest targets of Mayor Eric Adams’ Get Sheds Down initiative – which has used the courts to bring down the ugly green eyesores after repeated calls for owners to comply fall on deaf ears.

Nearly 400 longstanding sheds have come down across the city since the 2023 launch of the program — and the DOB is now going after sheds installed without any progress being made on repairs.

“Old, outdated scaffolding is an eyesore on our beautiful city, and our administration will hold those responsible accountable,” Mayor Eric Adams said.

“Long-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.”

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.

Until the green blight comes down, neighbors remain fearful over potential debris falling from the sky.

“To me, it’s almost screaming a lawsuit,” a passer-by told The Post. “You have Wall Street, it’s supposed to be one of the nicest areas in the world. … What’s going on?”