Menu

NY Public Library shelves plan to revamp main building, move million-plus books to New Jersey

The New York Public Library has abandoned its $300 million plan to revamp its flagship midtown Manhattan building and move 1.5 million books to New Jersey.

Library president Tony Marx said Wednesday that library officials and New York City officials are discussing possible alternatives. A statement from Marx doesn't detail the reasons for the change of plans.

The plan involved closing and selling two midtown branch libraries. Their functions would have been consolidated inside the main research library at 42nd Street and Fifth Avenue.

To make room, 1.5 million books would have been moved from stacks in the Fifth Avenue building to storage in New Jersey.

Scholars complained that moving the books would have created hardships for researchers.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.20% dw 4.30%  
15 Y Fixed Graph 3.28% dw 3.30%  
30 Y Fixed Jumbo Graph 4.72% up 4.60%  
5/1 ARM Graph 3.53% up 3.34%  
5/1 Jumbo ARM Graph 3.64% up 3.58%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% -- 4.38%  
$50K HELOC Graph 4.11% -- 4.11%  
$30K Loan Graph 4.98% dw 4.99%  
$50K Loan Graph 4.39% dw 4.40%  
$75K Loan Graph 4.39% dw 4.40%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.90% -- 2.90%  
36 M Used Graph 3.41% up 3.40%  
48 M New Graph 3.16% -- 3.16%  
48 M Used Graph 2.91% up 2.90%  
60 M New Graph 3.16% dw 3.17%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.35% -- 0.35%  
1 yr Graph 0.67% -- 0.67%  
5 yr Graph 1.38% -- 1.38%