The Reserve is located in the basement of a 12-story Beaux Arts-style building originally constructed in 1924 at the cost of $2.5 million. The ground floor of the building originally housed Hellman Commercial prior to their merger with Merchants National Bank. In December 1928, Merchants National Bank was taken over by Bank of America, and for the four decades that followed, the building served as Bank of America’s Los Angeles headquarters. When Bank of America moved their headquarters in 1972, the ground floor bank remained in operation but saw a steady decline in business. In 1988, the location was closed for good, .