The "Post" was founded by Alexander Hamilton with about US$10,000 () from a group of investors in the autumn of 1801 as the "New-York Evening Post", a broadsheet. Hamilton's co-investors included other New York members of the Federalist Party, such as Robert Troup and Oliver Wolcott, who were dismayed by the election of Thomas Jefferson as U.S. president and the rise in popularity of the Democratic-Republican Party. The meeting at which Hamilton first recruited investors for the new paper took place in Archibald Gracie's then-country weekend villa that is now Gracie Mansion. Hamilton chose William Coleman as his first editor.