This office block was built as a speculative venture by the American Tract Society. Revenue from this investment would fund the charitable works of the Society which published and sold inexpensive Bible editions to Foreign Missionary Societies and newly arrived immigrants. Rising from a plot 100 by 94 feet, this 22-story building contained 700 offices. The tower is topped by an elaborate open-arched pavilion with spectacular terra-cotta caryatids on its four corners that recall the figureheads of nineteenth-century schooners. Inside the building's lobby, the elevator hall is a semicircular space with the cabs arranged around it in an arc, one of the few surviving examples of this early configuration in New York. The building is currently undergoing renovation for residential use.