Established in 1874 by Hermann Wunderlich as H. Wunderlich & Co. in Manhattan, Kennedy Galleries has a long history of dealing American art. When Wunderlich died in 1892, Edward G. Kennedy took over the gallery and changed the name in 1912 to Kennedy & Co. Kennedy was the first U.S. dealer to exhibit the etchings and paintings of James McNeill Whistler, and he compiled a 1910 catalogue raisonné of the artist's work. Kennedy retired in 1916, and Herman Wunderlich (Jr.) became senior partner.
Lawrence A. Fleischman, joined the gallery in 1966 as a partner with the late Rudolf G. Wunderlich. In the course of more than a century in business, the gallery has promoted work by artists the likes of Albert Bierstadt, William Merritt Chase, Frederic E. Church, John Singleton Copley, Thomas Eakins, Winslow Homer, Walt Kuhn, Georgia O'Keeffe and Ben Shahn, among others. Under Lawrence A. Fleischman, the gallery served as adviser to the Vatican Museum, Rome in the early 1970s assisting in the selection and acquisition of modern art. Lawrence Fleischman was also the founder of the Archives of American Art, now a part of the Smithsonian Institution. He also served on the White House Committee for the Fine Arts during the administrations of Presidents John F. Kennedy and Lyndon B. Johnson.
In 1966, the gallery moved to East 56th street; and in 1974 moved again to a newly constructed gallery on West 57th Street. In 2005, the gallery became a private dealership under the direction of Martha Fleischman, Lawrence A. Fleischman's daughter.