The "New-York Crystal Palace for the Exhibition of the Industry of All Nations" was designed by Georg J.B. Carstensen and Charles Gildemeister, frankly modeled on the great hall of the same name that had opened in London's Hyde Park for the Great Exhibition of 1851.

Both were cast iron and glass building of vast scale. New York's Crystal Palace stood on a site behind the Croton Distributing Reservoir, between Fifth and Sixth Avenues on 42nd Street (today's Bryant Park). President Franklin Pierce opened the New York version on July 4, 1853, inaugurating America's first World's Fair.

The exhibition closed on November 1 of the following year, but the building continued to host trade shows until it was destroyed by fire on October 5, 1858. Advertised by the fair's promoters as a fireproof structure, the great glass and iron hall was destroyed by flame in fifteen minutes.

According to the Sun, within the week of the calamity a certain industrious Mrs. Richardson set up an outdoor stand in the adjoining Palace Garden and sold relics of the conflagration, including "vitrified masses of glass, metals, \&c., showing the intense heat which had prevailed at the time of the destruction."