Grand Central Terminal Lobby via Wikipedia
On June 26th, 1978, the U.S. Supreme Court handed down a momentous decision that wouldn’t just save a cherished New York landmark, it would establish the NYC Landmarks Law for years to come. This drawn-out court battle was the result of a plan, introduced in the late 1960s, to demolish a significant portion of Grand Central Terminal and erect a 50-story office tower.
Though the proposal may seem unthinkable now, it wasn’t at the time. Pennsylvania Station had been demolished a few years earlier, with the owners citing rising costs to upkeep the building as train ridership sharply declined. The NYC Landmarks Law was only established in 1965, the idea of preservation still novel in a city practicing wide-scale urban renewal. Finally, Grand Central wasn’t in good shape itself, falling apart, covered in grime, and home to one of the highest homeless populations in New York City. But a dedicated group of preservationists–aided by Jacqueline Kennedy Onassis–took the fight to the highest levels of the court. Keep reading to find out how, as well as learn about the celebrations planned by the MTA surrounding the anniversary.
Here’s how Grand Central was saved
The childhood homes of Jacqueline Kennedy Onassis are quickly being snatched up. Just three months after her one-time Upper East Side residence sold for $25 million, the equally impressive Hamptons estate where she summered has gone into contract, reports the Post. The 100-year-old, Arts and Crafts-style mansion is known as Lasata (a Native American word for “place of peace”) and is currently owned by fashion designer and former Coach executive Reed Krakoff. He bought it for $20 million back in 2007 and first listed the 7-acre property for $40 million a year ago, then reducing the price to $30 million.
See the whole property
James T. Lee, Jacqueline Kennedy Onassis‘ grandfather, was a prolific NYC developer at the beginning of the 20th century, bestowing upon the city some of its most elegant co-ops like 998 Fifth Avenue and the Rosario Candela-designed 740 Park Avenue. He himself took up residency in the latter building when it was completed in 1930 and gifted another apartment in the Upper East Side building to his daughter Janet and her husband John V. Bouvier; Jackie O lived there with her parents between the ages of two to seven. In more recent years, hedge fund manager David Ganek and his wife bought the duplex in 2005 for $19.1 million, using it to also showcase their impressive modern art collection. The couple first listed the home for $44 million in 2014, and after several price chops, it’s finally sold $25.25 million reports the Journal. Jacob M. Safra of the billionaire Safra family, of Brazilian banking fame, is the buyer.
Take a look
There have been some big price chops for an apartment at 740 Park Avenue, one of New York’s most iconic co-ops, once lived in by Jacqueline Kennedy Onassis herself. The former first lady—whose grandfather developed 740 Park in 1929—lived in this apartment between the ages of two to seven. It is now owned by David Ganek, a hedge fund manager, who has used the Rosario Candela-designed co-op as a home for his impressive modern art collection. He first listed it in 2014 for $44 million, and now it’s on its third price chop down to $29.5 million.
Take a look
, Fri, September 16, 2016
6sqft has already taken a look at the posh Upper East Side building where Jacqueline Kennedy Onassis grew up, and now we can go inside the 100-year-old Hamptons estate where she spent her childhood summers. As the Wall Street Journal first reported, the 11-acre property in East Hampton known as Lasata is currently owned by fashion designer and former Coach executive Reed Krakoff, who’s listed the entire Arts and Crafts-style residence for more than $50 million.
See the whole property
It doesn’t get much more classic Upper East Side than this two-bedroom, sixth-floor co-op on a quietly elegant street just off Park Avenue. The limestone-anchored 1928 building at 125 East 74th Street, designed by Lafayette A. Goldstone, as the NY Post informs us, was the early childhood home of Jacqueline Kennedy Onassis. Unit 6A in this pretty prewar building is on the market for $1.39 million. Famous associations aside, the gracious layout of the apartment, which started out having eight rooms and was reconfigured to its current five-room state, looks to be a pretty good deal for the price given its size and location.
See more of this elegant aerie
- Smart adaptive reuse or an alarmingly bad design? A Bed-Stuy church conversion sees the historic structure all boxed up. [Brownstoner]
- Is the city’s booming real estate market a reflection of the city’s strong economy or a bubble driven by speculative investment? Greg David investigates. [Crain’s]
- A new hotel designed by Peter Poon will replace a demolished parking structure on 37th Street. Poon already has a hotel in the works directly across the street. [Curbed]
- Financial bigwig David Ganek is asking $44M for Jackie O’s one time pad in 740 Park Avenue. [Curbed]
- German fashion brand Hugo Boss is in talks to grab 70,000 square feet of office space in the Financial District. [Crain’s]
Plans for the Bed-Stuy church (left); 432 Park Avenue residential building (right)