Referred to as the Neary Building, is formally called the Thomas Neary Memorial Building. Thomas J. Neary (1832–1905) was a significant businessman in Naugatuck, known for his wholesale and retail liquor business on Water Street. Born in Kilkenny, Ireland, Neary immigrated to the United States and became a prominent figure in the town’s economic development. In addition to his liquor business, which utilized stoneware jugs and crocks for storing and transporting liquor, Neary’s name became an established part of Naugatuck’s commercial history.

To honor his father's legacy, William J. Neary, a lawyer, commissioned the construction of the Thomas Neary Building in 1911. Designed by the Waterbury architectural firm Griggs & Hunt, the building is a Neo-Classical Revival landmark that once housed offices for the Peter Paul Candy Company. Its intricate Baroque details, including a white terra-cotta facade, oval cartouches, an ornate entablature, and a balustrade, highlight its architectural elegance.

Over the years, the Thomas Neary Memorial Building has housed various businesses and organizations. The Neary Ballroom serves as a place for community gatherings.

Designated as a part of the Naugatuck Center Historic District on July 30, 1999.