Completed in 1896, at 312 feet, the 22-story American Surety Building towered over surrounding structures. The design by architect Bruce Price was one of the most elegant of New York's early skyscrapers. Price divided the tower's height into three zones - base, shaft, and capital - corresponding to the parts of a classical column. Far above the street level, life-sized figures flank the round windows above the second cornice line. The tower stood in splendor until the 1910s when its neighbors rose to equal its height.

In 1921 the company expanded the tower, doubling its mass and broadening its elegant proportions. The architect of this expansion, Herman Lee Meader, recycled stone elements from the obscured back façades in his extension of the Broadway and Pine Street façades to ensure visual continuity. In 1975, the Bank of Tokyo renovated the interiors. This modernization, which maintained the tower's historic shell, was at the time a bold strategy for balancing the needs of a modern company with preservation interests. This juxtaposition of mid-seventies modernism and late nineteenth-century classicism is best observed in the starkly minimalist open colonnade between the building's nineteenth-century Broadway façade and the banking hall inserted behind it. Certain period elements were retained in the new interiors, namely the ornate coffered ceiling and the dark red marble columns.