Shortly before and during the American Revolution, Father Ferdinand Steinmeyer, a German Jesuit missionary from Philadelphia, would periodically visit the few scattered Catholics in New York City. He would gather them to say Mass in various locations, including a house on Wall Street and a loft on Water Street.
Dominick Lynch, a recent New York arrival and merchant, was a key fundraiser for the new church, contributing his own money and raising funds from his native Galway. Additional support came from King Charles III of Spain, who donated 1,000 silver pieces through Diego de Gardoqui and Francisco de Murillo y Martinez, Count of El Ojuelo.
Initially, the church was to be located on Broad Street, but due to anti-Catholic sentiments, New York City officials persuaded the builders to relocate it to Barclay and Church Streets, then outside the city limits. The builders agreed, and the church was constructed at the current location. The cornerstone of the original church was laid in 1785.