The founding of Hope Chapel is described in I.N. Phelps Stokes, The Iconography of Manhattan Island, 1498-1909 6 vols. (New York: Robert H. Dodd, 1928), in a chapter entitled "Period of Industrial and Educational Development" as follows:
1848 Feb 12: "New Baptist Church in Broadway.--We understand that the Hope Chapel Baptist Church have recently purchased some eligible lots in the upper part of Broadway, nearly opposite the New York Hotel, on which they are commencing a house of worship. The purchase gives them 50 feet front by 137 feet deep. The church is to be erected in the rear, with an attractive entrance from Broadway, while two stores, four stories high, two dwellings above them, are to be placed in the front..." New York Commercial Adv., F 12, 1848. (1809)
Later the name of the Chapel is changed, but the original name evidently stuck:
The legislature changes the name of "The Hope Chapel Baptist Church and Congregation" to "The Broadway Baptist Church." --Laws of NY. (1850), chap. 275; amended Jl 11, 1851 by ibid. (1851). chap. 523. (1827)