The alignment of Albert Street was formed in 1845 when the swamps of the Tank Stream were drained and a seawall built.

To the south lie a number of notable buildings including Gold Fields House,[2] 1 Macquarie Place, Customs House and the AMP Building.

In February 1999, Alfred Street was closed outside Customs House with the road converted to a plaza.

Having latterly been only used by State Transit Authority bus services, in October 2015 the section between George and Loftus streets closed to vehicular traffic to allow it to be rebuilt as the terminus of the CBD and South East Light Rail that opened in December 2019.

[4][5][6] Media related to Alfred Street, Sydney at Wikimedia Commons