In 1906, the first class of the Pace School of Accountancy was composed of 10 men and three women who were taught accounting and business law by Homer and Charles Pace. The classroom was rented for $600 the Pace brothers took out in loans and was located in the New York Tribune building, today the site of the Pace Plaza building. Due to rapid growth over the next several years, the school was forced to relocate several times.

In 1948, Pace recieved college status from the New York Board of Regents. In 1951, the college expanded to the old headquarters of the New York Times at 41 Park Row in Lower Manhattan. In 1963 Pace had land and buildings signed over to it by the Pace Trustee Wayne Marks, then President of General Foods, and his wife, Helen. This led to the establishment of the Pleasantville campus.

In 1966 the New York Tribune building at 154 Nassau Street was demolished to make way for a new Pace building next to the former location. The State Education Department approved Pace College's petition for university status in 1973. Shortly after in 1975, Pace aquired the College of White Plains. Briarcliff College was acquired in 1977. Finally in 1997, Pace purchased the World Trade Institute.