Some of the Pre-War building (tenements) in NYC have walls that have a molding that sticks out about an inch or so from 3 or 4 feet from the floor and the texture above is different from the different from the texture below the molding.

How can this effect be replicated?

Here's an example (that I can find in color) somebody got from the NYC Tenement Muesum at the bottom of the stairs on the left side, but also the same idea continues up the stairs with another different texture:
http://www.monica-suma.com/wp-content/u ... Museum.jpg