In 1921, the Singer Company placed the building up for sale at an asking price of $10 million. The building was sold in 1925 to a buyer representing the Utilities Power and Light Corporation, a holding company for several states' power companies. The transaction involved a cash deal of $8.5 million. The same year, a subbasement vault was dug for the Chatham and Phenix National Bank after the bank's merger with the Metropolitan Trust Company, and three of the lower floors were renovated for the bank's use.