114 Magazine Street stands on property donated by noted philanthropist Paul Tulane to Tulane University on June 30, 1882. This property was part of the donation by Mr. Tulane which created Tulane University in 1882.
114 Magazine was designed by the noted architecture firm of Sully and Tolendano in 1892 for the administrators of the Tulane Educational Fund. The building was completed in 1893 to house the headquarters of Dwyer Bros. wholesale dealers in dry goods, one of the largest trading companies in the south.
In 1996, Hotel Partners, L.L.C., composed of Pat Bossetta, Marc Dorsey and G. Paul Dorsey, Jr. saved this building from demolition. After receiving historical recognition from the city, an extensive restoration was begun. In 2004 the renovation was completed and the structure once again stands as an important example of New Orleans turn-of-the-century architecture.