N+1 (May 9, 2012): Lions in Winter

This piece is a preview of Issue 14. Subscribe now. Part two appears here.

In March 2008, the New York Public Library announced a $100 million gift from private equity billionaire Stephen Schwarzman and a sweeping plan to radically remake its landmark main building on 42nd Street. Six months later, Lehman Brothers collapsed; the plan, to no one’s surprise, was put on hold. Now, the administration has announced that the renovation, its budget increased from $250 to $350 million, is back on track.

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