 In March 1905, "The New York Times" reported that Isaac Seligman bought the lots on the south side of William Street from Stone to South William Streets.The five lots purchased by Isaac included the Seligmans' old store, and were two blocks away from Wall Street, where many of New York City's major financial companies and commodities exchanges were located.The next year, architectural plans for the building were filed with the New York City Department of Buildings.