The 370 feet building was built in 1930 on the site of the former headquarters of Chemical Bank (built in 1907 which in turn had replaced a building built in 1848) by developer Robert E. Dowling at a cost of $2.5 million Plan $2,500,000 Building at Broadway and Chambers - New York Times - September 21, 1928 and was designed by the E.H. Faile & Company. [