India House
1 Hanover Square, Richard Carman (1851-54)

Originally built for the Hanover Bank, this brownstone structure subsequently housed the New York Cotton Exchange and W. R. Grace & Co., and today it functions as a club and restaurant. It exemplifies the second phase of commercial construction in the city -- the expansion of counting houses in the mid 19th century and the emergence of new commercial building types such as banks. Carman's naive interpretation of a Renaissance palazzo (the residential palaces of Italian banking families) is derived from English interpretations of Italian palazzos. While American builders like Carman turned to Europe for models of prestige architecture, they had little direct exposure to or understanding of European stylistic traditions.