After the fire, Thompson–Starrett was hired to clear the site, and the plot was chosen as the location for Equitable's new headquarters building. Thompson–Starrett president Louis J. Horowitz approached businessman T. Coleman du Pont, who later recalled that du Pont was interested in the "idea of owning a gigantic building in New York". Frank M. Andrews—who designed another one of du Pont's properties the Hotel McAlpin—was also involved in the project. Horowitz, Andrews, and du Pont were said to have bought the lot in August 1912, and finalized the sale that October for $13.5 million.