Friedsam was the former president of B. Altman and Company and one of the premier art collectors in America at that time.

The five-story building fashioned in limestone was designed by Frederick Frost, with wrought ironwork by Samuel Yellin.

Friedsam's collection contained numerous masterpieces by artists such as Vermeer, Rembrandt, Jan Van Eyck, and Botticelli.

After Friedsam's death in 1931, the residence became a top-rated Catholic high school for girls, Dominican Academy.

Many of the original architectural elements, including carved marble fireplaces, stained glass windows, and ornate woodwork, are still in place today creating a unique environment for learning.