20 Nassau Street, 1913.

Stretching the entire block of Nassau Street between Pine and Cedar Street, this was the location of the Fourth National Bank. The six-story Second Empire Style building was suffering from intense structural problems when the Germania Life Insurance Company, who originally owned the structure, sold it to Fourth National. Most of the problems of the building came from its sinking foundation, which caused cracks and misalignments to appear in the facade's stones and windowsills. Many of the building's openings had to be braced by heavy timber. In some parts of the building, the ceiling sloped three or four inches and doors had to be trimmed down to be function at all.

Despite the structure's impending doom, Fourth National purchased the building for 1.5 million dollars. This was "the highest figure yet paid in the financial district," at the time, at around three hundred dollars a square foot. The New York Tribune noted that the lot had ample light, and "unusual advantages," due to the building's squat neighbors. Though the building was purchased in 1909, the Germania Life Insurance Company didn't move out until two years later. In 1914, Fourth National merged with the Mechanics and Metals Bank and continued to occupy the building, despite concerns over structural problems. The Mechanics and Metals Bank was consolidated with Chase National Bank in 1926, who would ultimately call for the demolition of the building.

However, razing a structurally-deficient building proved to be harder than anticipated. The safety vault of the bank was a "miniature fort in the heart of New York's financial district", according to a Connecticut newspaper, because it was encased in thirty inches of masonry and five inches of steel plates to withstand any bombing or burglary. Removing it required the effort of "fifteen men, consisting of drillers, blasters, burners, rock-men, and engineers...employed continuously trying to batter [it] down." Once the ground was finally leveled, Chase National Bank had plans for a tower almost 500 feet in height, with stepped levels resemblant of a pyramid.