The building had a multipurpose design when it opened, with the first floor and basement designated as "Union Inland Terminal #1", which was to be used to transport goods by truck to and from railroad lines and shipping piers. The building included four truck elevators capable of lifting 20-ton trucks, as well as 12 package elevators and 18 passenger elevators. The second floor was the Commerce section, designed for exhibitions, and the upper floors were intended for manufacturing. Upon opening, the Port Authority leased the terminal to the railroads. The railroads involved were the New York Central Railroad, the Pennsylvania Railroad, the Lehigh Valley Railroad, the Erie Railroad,, the Baltimore & Ohio Railroad, the Lackawanna Railroad,  the New York, New Haven & Hartford Railroad, and the Central Railroad of New Jersey. At the time of construction it was estimated to be capable of handling one-third of the 680,000 annual tons of less-than-carload freight at the port. Because of the warehouse mission of the building it was able to avoid some of the setback rules that greatly reduced the buildable space available for the skyscrapers that mark the Manhattan skyline.