Telegraph Building also had one of the first revolving doors in New York City. Inside 256 Broadway, the northern half of the ground floor originally served as a banking hall for the Merchants' Exchange National Bank. The second floor contained the main offices of the Home Life Insurance Company. The ground floor had a ceiling of , while the second floor had a ceiling of . When opened, 256 Broadway was also outfitted with its own electric plant and three hydraulic elevators, located in the two basement levels of the building. 256 Broadway also contained brass plumbing and iron elevator grillwork. History Context Historically, the land was part of the farm holdings of Trinity Church. The surrounding area was developed as the Civic Center by the 19th century, with the construction of New York City Hall, the Tweed Courthouse, and the City Hall Post Office in City Hall. In addition, the adjoining stretch of Broadway became a commercial corridor in the mid-19th century, with four- and five-story commercial buildings. One of the commercial concerns on Broadway was the Home Life Insurance Company, a Brooklyn-based insurance company with a branch on Wall Street, which moved its branch to 258 Broadway in 1866. Home Life acquired the five-story building at 254 Broadway three years afterward, where it occupied the ground story and leased the remaining space. Records showed that Home Life had intended to acquire the neighboring property at 253 Broadway instead. By 1890, Home Life's headquarters were overcrowded. Another commercial concern on Broadway was the Postal Telegraph Company, formed in the 1880s by John William Mackay, who built the Postal network by purchasing existing telegraph firms that were insolvent. By 1890, the Postal Telegraph Company had become a viable competitor to Western Union. Its headquarters was also overcrowded, and management had to move out to make room for more operations staff. Construction By February 1892, Postal Telegraph had decided to build a new headquarters at Broadway and Murray Street, next to Home Life's building. The Home Life Insurance Company purchased 256 Broadway from Trinity Church on March 16, 1892. It simultaneously sold off the lot at 254 Broadway, which had of frontage on Broadway. One week later, Postal Telegraph signed a 99-year lease agreement with Trinity Church to lease the adjacent lots at 251–254 Broadway. The two companies applied for their building permits three months apart: Postal Telegraph in May 1892