HISTORY

From the Archives: Our Home Office building as a symbol of New York Life.

New York Life | December 17, 2024

Pictured above: This sterling silver pencil holder/calendar was the first instance of the home office building being used as a symbolic representation of the company.

New York Life’s home office building at 51 Madison Avenue opened in 1928 and has become a symbol of the company’s strength and stability. In fact, the building has been featured on numerous artifacts, memorabilia, and printed media for nearly 100 years. This 1928 sterling silver pencil holder commemorates the opening of the building and is recognized as one of the earliest depictions of the home office building as a symbol of the company.

The pencil holder also features a perpetual calendar so users could adjust the days of the week to suit each month. The item exemplifies the functional promotional items New York Life used for giveaways, contests, and distribution to agents, customers, and the public.

It was May 14, 1924, when the New York Life Board of Directors approved the site upon which the home office would be built — the site of old Madison Square Garden. New York City had entered the age of the skyscraper and company leadership was ready to pursue a home office that would be more than a workspace — they wanted a building that would be, as company President Darwin P. Kingsley later put it, “a Cathedral of Life Insurance.”

The building of the home office

The company hired architect Cass Gilbert, who was already famous for having designed the Woolworth Building, then the world’s tallest building, and who would go on to design the U.S. Supreme Court Building. Gilbert designed a 34-story gothic structure inspired by England’s Salisbury Cathedral, in line with Kingsley’s “Cathedral of Life Insurance” sentiment. The finished structure, built by contractor Paul Starrett, required 24,500 tons of steel, 440,000 cubic feet of limestone for the exterior and 2,180 windows. It arose 617 feet above ground and was topped by a 70-foot dome. The dome was originally copper, but that was later replaced by ceramic tiles painted with 24-karat gold-leaf paint. Construction began on Aug. 22, 1926. It would take more than two years to complete and cost $21 million, not counting the cost of the land itself.

The move from New York Life’s 346 Broadway offices to the new home office building was a huge undertaking. The first load alone included 75 million documents. The move took multiple days, with the first departments arriving on Nov. 16, 1928. According to New York Life’s Good Fellowship newsletter, the building was ready for occupancy on November 19, and at least one department, Actuarial, had its equipment in place and its people ready to work at the new building on that date. By December 1, the Comptrollers’ Letters, Investment, Law, Cashier’s, Real Estate and Treasurer’s Departments and the Premium Collection divisions had all arrived at their new home.

An official landmark

Now nearly 100 years old, the building at 51 Madison Avenue has cemented its place as an integral component of New York Life’s and New York City’s identity. It has been bestowed with landmark status by both the federal government and the City of New York. It also remains a highly functional building, having undergone countless renovations over the years to keep its operations current. The building’s greatest significance, however, is probably in its power as a symbol of New York Life’s enduring financial strength. The New York Life building has become an icon, adorning not just the city skyline but countless advertisements, public statements and company mementos. It reminds employees in the field that they have a home base and reminds everyone of the company’s longstanding and important place in American life.