David Childs of Skidmore, Owings & Merrill designed the tower for Bear Stearns, which agreed to develop the site in 1997. An earlier taller proposal by Kohn Pedersen Fox was not built. The 14-story Knapp Building was demolished starting in May 1998, and work ran from 1999 to early 2002. Turner Construction built it for over 500 million dollars. Critic Herbert Muschamp called it a period pastiche of Art Deco skyscrapers.
It is an octagonal tower on a rectangular base, 755 feet (230 m) tall with 47 floors and a 70-foot glass crown. The facade is granite with glass panels. JPMorgan Chase acquired Bear Stearns in 2008.
Foster and Partners was hired in January 2025 for a renovation that includes a lobby extension and new facade panels.
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