The square is named after General John J. Pershing, and was originally intended to be an open plaza in Pershing's honor occupying the entire block between 41st Street, Park Avenue, 42nd Street, and Lexington Avenue. Until 1885, Steuben Street—named for Revolutionary War general Baron von Steuben—ran diagonally across the block. The Grand Union Hotel was built on the northwestern corner of the block in 1883. The eastern part of the block contained the Manhattan Storage Warehouse, which was built in 1882. The hotel was condemned via eminent domain in 1914, and it was subsequently demolished to make way for the construction of the New York City Subway's Grand Central–42nd Street station, which ran diagonally below the site.
