Exchange Place was created by 1657 as part of the Castello Plan, the street plan for the Dutch colony of New Amsterdam, and still survives largely as it existed in 1660. The street incorporates parts of two colonial Dutch roads: Heere Dwars Straet and Tuyn Straet. Heere Dwars Street ran two blocks between Broadway and Broad Street. Tuyn Street, named after gardens, ran one block from Broad Street to William Street. In colonial times, the area was swampland; to drain the swamp, a canal was dug from Exchange Place, along which Broad Street was subsequently built. A Dutch Reformed Church was erected at Exchange Place and Broad Street in 1830. Tuyn Street was renamed Church Street in 1695 and Garden Street in 1797. Garden Street was renamed Exchange Place in 1827, after the Merchants Exchange Building at Wall and William Streets was built that year. However, the origin of the name "Exchange Place" is derived from the presence of the New York Stock Exchange at Broad Street. In 1836, Exchange Place was extended from William Street to Hanover Street. By the 1830s, the demand for commercial space had increased significantly on Exchange Place and surrounding streets. Many residential buildings on the street were subsequently demolished, and commercial buildings were erected in their place. Exchange Place was a center for financial activity; in 1867, it was reported that $1.6 million had been stolen from one of the banks on Exchange Place. The 1939 WPA Guide to New York City stated that Exchange Place, together with Wall and Broad Streets, formed the core of Manhattan's Financial District.
Notable buildings
Exchange Place contains several landmarks and other structures along its route. 1 Wall Street, a New York City designated landmark, is located on the north side of the street between Broadway and New Street. The New York Stock Exchange Building at 8–18 Broad Street, a National Historic Landmark and New York City designated landmark, is on the north side of Exchange Place between New and Broad Streets. The Broad Exchange Building is located at the southeast corner of Broad Street and Exchange Place, while the Continental Bank Building is on the southwest corner of that intersection and 15 Broad Street is on the northeast corner. The easternmost block of Exchange Place is taken up by two buildings: 55 Wall Street on the north side and 20 Exchange Place on the south side. In addition, the New York City Subway's Broad Street station, serving the, has entrances at Exchange Place and Broad Street.
