land t ▁Stre ets ▁in ▁Lower ▁Manh attan . ▁The ▁Hudson ▁and ▁Manh attan ▁Rail road ▁Company ▁was ▁incorpor ated ▁in ▁December ▁ 1 9 0 6 ▁to ▁operate ▁a ▁passenger ▁rail road ▁system ▁between ▁New ▁York ▁and ▁New ▁Jersey ▁via ▁the ▁U pt own ▁and ▁Dow nt own ▁T ub es . ▁The ▁system ▁was ▁originally ▁designed ▁to ▁connect ▁four ▁of ▁the ▁five ▁passenger ▁rail road ▁terminal s ▁that ▁l ined ▁the ▁western ▁shore ▁of ▁the ▁Hudson ▁River ▁water front : ▁Hob oken , ▁Pav onia , ▁Exchange ▁Place ▁and ▁Commun ip aw ▁( the ▁last ▁of ▁which ▁was ▁ultimately ▁not ▁connected ); ▁We eh aw ken ▁was ▁not ▁included . ▁It ▁augment ed ▁the ▁ ▁extensive ▁fer ry ▁cross ings . ▁ ▁Following ▁the ▁announ cement ▁of ▁the ▁Dow nt own ▁T ub es , ▁the ▁rate ▁of ▁real ▁estate ▁purch ases ▁increased ▁around ▁Hudson ▁Terminal ' s ▁future ▁location . ▁The ▁terminal ▁would ▁consist ▁of ▁a ▁pair ▁of ▁office ▁buildings ▁located ▁above ▁the ▁t ube ' s ▁sp a cious ▁eastern ▁terminal . ▁Land ▁ac quisition ▁for ▁the ▁buildings ▁started ▁in ▁December ▁ 1 9 0 5 , ▁The ▁office ▁buildings ▁were ▁developed ▁starting ▁in ▁ 1 9 0 7 . ▁At ▁the ▁time , ▁there ▁was ▁a ▁lot ▁of ▁office ▁space ▁being ▁developed ▁in ▁Lower ▁Manh attan , ▁even ▁as ▁the ▁area ▁saw ▁a ▁decrease ▁in ▁real - est ate ▁transactions . ▁However , ▁by ▁ 1 9 0 8 , ▁ten ants ▁had ▁started ▁moving ▁into ▁the ▁to