Construction took place from 1970 to 1971.[4] The building is to the east of 1 New York Plaza, and to the south of 55 Water Street. It has a modern structural design, and is one of a series of modern-style buildings built in the Financial District during the 1960s and 1970s.
Starting in 2007 the managers began incorporating energy saving renovations to meet LEED Silver standards.[5] Building amenities include on-site management, day care, a coffee shop, shoe shine and a 50-car garage.[6]