The Exchange name reflects the history of the building, built as the Sanders and Hay Block in 1907 after a fire destroyed the original building in 1906.  An article in the December 7, 1907 The Daily News headlined “Exchange Plans for a New Home” tells how the Commercial Exchange, “attending physician to the city’s health”, is looking for a permanent location.  ”The third floor of the newly constructed Sanders and Hay Block in which the new Jefferson Theater is situated, is chosen as the site of the new quarters of the Exchange.  This part of the elegant building was originally intended for a club or lodge room and parlors and the place is adapted to the use of The Exchange that the committee after investigation recommended that a deal be consummated whereby the rooms be secured for the club rooms of the body.”

The commercial building, now occupied by Soapy Gnome, Cressy & Everett, and The Exchange Business Suites, originally housed a combination piano and furniture maker plus an undertaking business.  The third floor, not yet renovated, housed various lodges and clubs (Elks, Knights of Pythias, Goshen Temple #329, Pythias Sisters, Royal Neighbors of America and Moose Lodge #836) between 1906 and 1925.  This floor of 7,000 square feet includes a billiards room, meeting rooms. and a ballroom.  It is anticipated that restoration of the adjoining Goshen Theater would provide elevator access to all floors of the building and again make this majestic space available to the public.