To prevent damage to the older structure, heavy timbers were placed on 23 Wall Street's roof while the skyscraper was being built.

In late 1955, J.P. Morgan & Co. arranged to purchase 15 Broad Street from the Chase Manhattan Bank, which then owned the building.

[5][6] Once the sale was concluded the following March, J.P. Morgan & Co. announced that Turner Construction would extensively renovate the building to plans by Rogers & Butler.

[9] Morgan Guaranty considered constructing additional stories atop 23 Wall Street as well as replacing both structures with one headquarters.

[10] A major renovation commenced in the two buildings in 1962, in preparation for their conversion into a headquarters for Morgan Guaranty.

The building is fitted with many amenities such as a gym, swimming pool, dance and yoga studio, squash court, bowling alley, business centre, movie theater, lounge and an in-house dry cleaning service amongst other things.

According to the architect Phlippe Starck, many pieces had come from Austria-Hungary before World War I and have been identified by him as Swarovski crystal.

[14] Starck made the roof of 23 Wall into a 5,000-square-foot (460 m2) garden with children's pool and dining area, accessible to the residents of the development.