Because it was originally the Fourth police precinct station, and an affectation of Neo-Renaissance architecture was to substitute “V” for “U”, which in turn derived from Roman inscriptions because back in the days of the Roman Empire the letter “U” hadn’t yet been developed.

The 3-story Neo-Renaissance building was originally the Fourth Police Precinct Station House (now First). It was completed in 1912, and designed by Hoppin & Koen, who designed several police building in New York. The carved inscription on the north face still reads "Fourth Precinct Police Station". It is clad in buff-colored cast stone on the facades, and yellow iron-spot brick on the west elevation. The horizontal emphasis of the design created by the high water table, the stringcourse above the 2nd floor, and the modillioned cornice, as well as corner quoins and swag plaques contribute to the building's Renaissance-inspired image.

Three of four original cast-iron lanterns held on brackets remain in place beside the two entrances on Ericsson Place which are set in 2-story arched surrounds. The entrance on Varick Street was originally an entrance for motor vehicles to an internal garage which was extended later into the central open court. The 2-story wing on the southern end was originally a stable, which the 1st Precinct continues to use for its mounted units.

NYPD 1st Precinct - Wikimapia