By April 1928, the Central Union Trust Company controlled the buildings from 64 to 80 Broadway, and reportedly planned to build a 36-story structure at the site of the Chimney Building. The following month, American Exchange Irving Trust bought the Chimney Building along with three adjacent structures at 7 Wall Street, and 74 and 80 Broadway, in exchange for $5.5 million in cash and a $9 million mortgage. The transaction cost approximately . Following the sale, the Central Union Trust Company moved to the Manhattan Life Building and modified the structures at 60, 62, and 70 Broadway.