[5][6] Prior to the settlement of New Amsterdam (now New York City) in the 17th century, the site was largely a ravine that drained into Collect Pond in the northeast.

[32] At ground level, the bays are flanked by either flat engaged pilasters or fluted freestanding columns, both of which are placed atop pedestals and capped by Corinthian-style capitals.

[36][56] When the building was converted into offices in 1884, the dome was replaced with an open courtyard measuring 26 by 130 ft (7.9 by 39.6 m), which was surrounded by gray brick walls.

[59] Irish-born merchant Alexander Turney Stewart opened his first store at 283 Broadway, on the western sidewalk between Chambers and Reade streets, in 1823.

[18][65] For instance, he was among the first merchants to set fixed prices for his goods;[65][66] he bought inventory with cash, rather than on credit;[65] and he allowed customers to browse his shop without employee supervision.

[68] Critics objected that the building was too far "uptown",[69][70] in spite of the fact that three major competitors (Hearn Brothers, Lord & Taylor, and Arnold Constable & Company) were all located further north.

[69] Other criticism came from the fact that the building was on the eastern side of Broadway, which was directly lit by sunlight during the afternoon, discouraging upscale shoppers who preferred shops on the shaded western sidewalk.

[78] The store initially contained $600,000 worth of imported European merchandise, which Stewart's partner Francis Warden had acquired during various trips.

Warden continued to manage A. T. Stewart & Company's European import business for several decades, buying items such as carpets, costumes, laces, shawls, and silks.

[84][g] To deliver the granite and marble, masonry contractor James Hall built temporary railroad tracks on Chambers Street.

[23][38] Stewart was able to extend the Reade Street frontage 123 ft (37 m) eastward; plans indicate that he either demolished or remodeled the boardinghouse to the east of his original store.

[88] By the end of the decade, wealthy residents had started to move uptown, and Stewart began planning a new location for his retail business.

[23][94] The owner still refused to sell the site, so Stewart instead agreed to lease the lot at a cost of $11,000 a year, which at the time was an exorbitant amount.

[97] The Marble Palace was combined with two properties that Hilton owned on 53 and 55 Chambers Street, which themselves were remodeled to complement the original store's design.

[62][115] Despite reports that Isman planned to renege the deal,[116] he ultimately bought the building in June 1908 from Hilton's executors, Horace Russell and Edward Harris.

[107][108][127] He also acquired the fee ownership to a small portion of the site from Martha A. Andrews;[107] the building's previous owners had never been able to buy that plot.

[118] The building's tenants in the mid-20th century included insurance brokerage Davis, Dorland & Company (which leased much of the fourth floor),[138] as well as the Publishers' Association of New York City.

[139] After World War II, businessman Henry Modell opened a store in the building, selling surplus wartime material.

[160] Because the Civic Center redevelopment was legally dormant and had not yet been canceled outright, the city initially decided not to refurbish either 280 Broadway or 49 Chambers, even though both buildings were in need of renovation.

[162] The Sun Building was severely dilapidated by 1981, with large cracks, broken windows, falling ceilings, malfunctioning lights, and extensive leaks.

[163] The clock outside the Sun Building was restored again in 1988,[164] but the structure was still dilapidated in 1994, when the city government considered selling it to a private developer under a leaseback agreement.

[49] William J. Diamond, the city's commissioner of general services, said of 280 Broadway and the neighboring 49 Chambers: "The excitement from the private sector is that they are coming in and saying to us, 'We can make these buildings financially viable if you either sell it to us and/or lease it to us.

[166][167] In November 1995, the Giuliani administration announced that the Starrett Corporation would renovate the building's garage and storefronts,[167] leasing the retail space from the city government for 49 years.

[170] The New York City Department of Buildings (DOB) moved its offices to 280 Broadway in 2002, relocating from MetroTech Center and 60 Hudson Street.

[189] A New York Evening Post article from 1849 described the building as "the looming front of a marble palace, five stories high, decorated in the most beautiful style of art".

[190][191] Just before the store opened, former New York City mayor Philip Hone wrote: "There is nothing in Paris or London to compare with this dry goods palace".

[89] Following the first expansion, an observer wrote for Harper's Magazine in 1854 that the building "rises out of the green foliage of [City Hall] Park, a white marble cliff, sharply drawn against the sky".

[55] Art critic Clarence Cook wrote that, while the specific architectural details could be subject to debate, "as a whole, it is an imposing structure, and an ornament to the city".

[74] The Stewart Building's completion inspired the construction of other large dry-goods stores, a trend that continued until early skyscrapers were built in the late 19th century.

[87][198] The Hartford Courant's New York City correspondent, writing about these stores in 1850, said the newer buildings were "far from being equal to the 'palace' and cannot in any sense be viewed as rivals".