Designed by Oscar Wirz in the Romanesque-revival style, 56 Pine Street was completed in 1894 as an office building and was converted into apartments in 2005. Originally called the Wallace Building after its developer, James Wallace, the building was named a city landmark in 1997 and was added to the National Register of Historic Places in 2003. The building is most notable for its iconic façade of stone, brick, and terra cotta and with inset, arching windows. The embellishments of flowered panels are credited as some of the finest Byzantine-style carvings in New York City.

With 90 units on 16 stories, 56 Pine Street was one of the tallest buildings in lower Manhattan when it was first built and was one of the city’s first skyscrapers.