 The firm had to move to make way for construction of 20 Exchange Place, and chose 1 William Street because it would provide more space.Lehman Brothers performed a $500,000 renovation of the structure, which included the relocation of the front entrance from South William Street to the corner with William and Beaver Street, as well as the replacement of the South William Street entrance with windows.Lehman Brothers moved into their offices at 1 William Street in June 1929.