Grace Church at night, ca. 1975.

Grace Church was first organized in 1805, and they built a church at Broadway and Rector Street three years later. The parish moved uptown in 1843. They commissioned 24-year-old James Renwick Jr.—in his first major work—to design their new edifice. The cornerstone of the French Gothic Revival masterpiece was laid in 1843, and the church was consecrated in 1846. The stone of the church was Sing Sing marble (cut by inmates of the infamous prison). At the time of completion, the steeple was built of plain wood (a cost saving measure). They also used plaster and lath (and not cut stone) for some of the interiors—it was quite the scandal!

Over the next few decades, through the generous support of various congregants, most notably philanthropist Catharine Lorillard Wolfe, the church complex was expanded. The new features included a beautiful stained glass East Window (1878), a small chapel next to the church (1879), and a stone spire (1883). Additions and updates continued into the early 20th century.

In the second half of the 19th century, the church was one of New York's most fashionable. Minister and author Matthew Hale Smith wrote in 1869 that, "To be married or buried within its walls has been ever considered the height of felicity." Pews within the society church were traditionally rented at a premium, though this practice was abolished in the 1960s.

According to the Municipal Art Society, it is "one of the few buildings in New York that closes a vista." Visible from far south on Broadway and prominent at its location where Broadway begins its path northwestward, the church is one of the most significant examples of Gothic Revival architecture in America. It underwent a multi-million dollar rehabilitation project in the mid-1990s which focused on the restoration of crumbling marble exterior and the stained glass windows.