the eligibility of any zoning bonuses being applied to the building. Steel contractor Frankel Steel and Steel Structures Corporation were jointly hired to fabricate the steel in mid-1986, and Steel Structures Erection Inc. was hired to erect the steel frame. In May 1988, J.P. Morgan received $400 million in financing for the project from Dai-ichi Life. In addition to a 7 percent annual interest rate, the financing also gave Dai-ichi Life an oversight role in the management of the building and the option in 20 years to convert the debt into a 49 percent equity stake. By early 1989, J.P. Morgan was planning to move up to 3,500 employees into 60 Wall Street, although 3,500 additional employees were to work elsewhere. That year, the J.P. Morgan headquarters was officially relocated from 23 to 60 Wall Street. By the end of the year, 70 percent of J.P. Morgan employees had moved into 60 Wall Street. Upon 60 Wall Street's completion, J.P. Morgan occupied all the office stories for itself. The atrium had several shops, including a clothing store and an eatery called Neuchatel. With a $17.7 million tax bill for 60 Wall Street in 1992, the bank paid some of New York City's highest property taxes that year. Unlike many financial firms of the time, J.P. Morgan had support personnel working near executives and traders in the same building, namely 60 Wall Street. To allow the installation of J.P. Morgan's advanced computer equipment, nearly 1,000 employees had been relocated at least once within the building's first year of operation. An operations center was opened on Staten Island to provide redundancy in case the 60 Wall Street trading rooms were damaged or destroyed. Though J.P. Morgan had data centers in Delaware and in 60 Wall Street's basement, it was not as technologically advanced compared to non-banking firms. After J.P. Morgan merged with Chase Manhattan Bank in 2000 to become JPMorgan Chase, the bank announced that it would move from 60 Wall Street to 277 Park Avenue, next to Chase Manhattan Bank's existing headquarters at 270 Park Avenue. Deutsche Bank use JPMorgan Chase sold 60 Wall Street to Deutsche Bank in April 2001 for $600 million. After the nearby Deutsche Bank Building at 130 Liberty Street was severely damaged during the September 11 attacks later that year, Deutsche Bank moved about 5,500 staff into 60 Wall Street. JPMorgan Chase had originally proposed to