Studebaker Building (Midtown Manhattan)
[4] It was demolished in 2004 to make room for an apartment tower,[5] a twenty- five story, 136 unit, luxury condominium designed by architect Einhorn Yaffee Prescott.Its construction date was listed erroneously as 1912 and its design was falsely attributed as the work of a minor architectural firm.One reason for leaving the area was its redevelopment as a locale in which theaters, restaurants, and hotels replaced older buildings.They leased the building for a period of years to a single tenant, at first rumored to be Bustanoby Freres, which owned the Cafes des Beaux Arts at Sixth Avenue (Manhattan) and 40th Street.[2] It was resolved in December 1910 that the Bustanoby Brothers,[11] Andre', Jacques,[12] and Louis[13] had acquired the Studebaker Building from the Crossett Realty Company, the Juilliard Estate, for a period of ninety-nine years.[11] A 1933 New York Times article states that the Bustanoby brothers incorporated the Palace of Fine Arts with $1,500,000 capital in December 1910.[14] When Helen Cossitt Juilliard died in April 1916, her one third interest in the Studebaker Building, $263,777, was listed as part of her fortune which totaled $3,273,505.[15] The Bustanoby brothers retained the ground floor and basement for their restaurant, the Palais des Beaux Arts, planned to open in November 1911.[10] While the edifice was being renovated for the restaurant, its roof was leased by a breakfast food company for $25,000 a year, with the intention of placing an electric sign there.The ground floor and basement was leased to Morton & Keiser by Mark Rafalsky & Co. for twenty-one years for a price in excess of $1,000,000.