Since the 1910s, the Astor family had wanted to develop a commercial building on the site, but the plans were delayed for a decade due to opposition from J. P. Morgan Jr. and other local residents.

The apartment hotel initially occupied the second through ninth floors, but it was unprofitable, closed in 1939, and was turned into office space, with tenants such as Amtorg Trading Corporation.

The building was sold several times in the 20th century, including to a group representing Philippine president Ferdinand Marcos during the 1980s.

[4] 200 Madison Avenue is close to the B. Altman and Company Building to the south, the Collectors Club of New York to the southeast, the Church of the Incarnation to the east, and the Morgan Library & Museum.

[4] Robert A. M. Stern and the co-authors of his book New York 1930 wrote that the facades "hardly resulted in the 'Masterpiece of Modern Architecture' claimed by the Real Estate Record and Guide, but they responded sensitively to the residential scale and character of the Murray Hill district".

[4][6][17] At the extreme end of the 36th Street frontage is a pair of driveways, connecting to a loading dock with two freight elevators.

Below the saucer dome, the corners have decorative pendentives, while the side walls have lunette panels depicting animals.

[21] The capitals of each pilaster contain moldings of lion heads, which support round arches on the ceiling.

The center of the western wall (facing the elevator hall) includes a brass door to the freight loading dock, which is flanked by black-marble panels and topped by a lunette with birds.

[8] Below the friezes, the north and south walls contain elevator doors, as well as brass mailboxes resting atop marble sills.

There are four elevators to the north and six to the south;[22] their doors are made of brass, with vertically arranged motifs of arches and rosettes.

Parts of the second through fourth stories were occupied by a Marshall Field's department store, which had its own elevator and staircases.

[27] The showroom of fashion firm Warner Brothers Co. contained 12 selling rooms, as well as offices for various departments and a foyer with green-and-peach walls.

[29] In the 19th century, the section of Madison Avenue in Murray Hill was largely a residential street inhabited by wealthy families.

[30][31] These houses were built around 1870 and were known as "Astor Row"; their residents had included Adrian Iselin and John Edward Parsons.

[32] During that time, the upper-class residences that had characterized the adjacent portion of Madison Avenue in the 19th century were being replaced with retail establishments.

[35][36] This prompted Morgan and a local community organization, the Murray Hill Association, to buy land in an effort to prevent commercial developments.

[35] Most of Midtown Manhattan was rezoned for commercial use as part of the 1916 Zoning Resolution, except for the section of Madison Avenue in Murray Hill.

[46] That December, a syndicate composed of Jesse H. Jones, Robert M. Catts, and Dwight P. Robinson & Co. acquired 17 dwellings on the west side of Madison Avenue between 35th and 36th Streets.

[7][17] Among the early tenants were Bachmann and Emmerich (which leased two stories shortly after the building opened),[54] as well as Champlain Silk Mills[55] and the Hudson Blue and Photo Print Company.

[59] During the 1930s, the building's tenants included upholstery manufacturers Collins and Aikman,[60] the Gotham Silk Hosiery Company,[61] and the Triborough Bridge and Tunnel Authority.

[71] The Continental Bank and Trust Company foreclosed on 200 Madison Avenue in September 1941[13][72] and subsequently acquired the property.

[74][75] Its space was taken up by firms such as the Simplicity Pattern Company, Aldens Inc., and Combustion Engineering,[16][15] as well as publisher G. P. Putnam's Sons.

[76] A group led by Harry Mabel purchased the building in September 1954 from the Madison Avenue–36th Street Corporation.

[77] Maurice Urdang & Associates sold 200 Madison Avenue in 1965 to a syndicate that included Harry Helmsley, Lawrence Wien, and George V.

[18] In the 1960s and 1970s, the building also housed tenants such as the Houston Chemical Corporation,[78] mail-order company Aldens Inc.,[79] Oxford University Press,[80] and Partnership for New York City.

[85] In 1986, a United States House of Representatives committee found that the Bernsteins had been working on behalf of Philippine president Ferdinand Marcos,[82][86] who had intended the building and several others as a gift for his wife Imelda.

[93][94] The Aquino administration attempted in early 1989 to sell the four Marcos properties to Morris Bailey for $398 million.

[95][96] That year, federal judge Pierre N. Leval was considering placing the building for sale at a foreclosure auction.

[105] By the 21st century, the building's tenants included apparel firm Philips-Van Heusen, clothing company Garan Incorporated, and charitable organization Surdna Foundation.