The structure had classrooms and other training facilities on its lowest five floors, while the upper 18 stories included 260 rooms for sailors who lived there. Because of a decline in the shipping industry shortly after the institute's headquarters was completed, the edifice was never profitable. The institute's building was demolished 16 years after its completion.
The structure had classrooms and training facilities on its lower floors, while the upper stories housed living quarters for sailors. Due to a decline in the shipping industry shortly after the institute's headquarters was finished, the building never turned a profit. The institute's building was demolished 16 years after it was completed.