This structure was originally built as a bank branch in 1954 for the Fulton Savings Bank. Fulton Savings was previously at 375 Fulton Street, which was demolished during redevelopment in the 1950s. Few images exist of the original facade of 395 but this scan of the Brooklyn Eagle shows the original building in a 1955 advertisement in the right hand column. The image shows that the front entrance incorporated large glass windows and doors with large decorative panels on either side. Today all that remains on the exterior to hint at the original use is the rooftop terrace and flagpole.
Fulton Savings Bank later merged with another financial institution and moved to 342 Fulton Street, also known as One Boerum Place (see last entry). As with One Boerum, the architects of 395 Jay Street were de Young, Moscowitz & Rosenberg.