The former American Stock Exchange building at 86 Trinity Place has all the potential for a knock-down, drag-out battle between preservationists who want to preserve the downtown Art Deco piece of history, and the developer who would love to convert it into a hotel and retail space. So far, however, dealings have been relatively cordial, even as the Landmarks Preservation Commission has come under fire recently for its perceived paralyzing effect on growth in New York City. At issue is the 80-year-old limestone edifice built by Starrett & Van Vleck to house the American Stock Exchange in 1930. Now vacant, its ownership group wants to turn the 14-story building into a hotel and retail stores, but the Historic Districts Council among others is advocating for its landmarking. The Post reports that one of the owners, Allan Fried, sent a letter to LPC head Robert Tierney acknowledging the building's historic roots and praising the structure's "exuberant Art Deco facade." But if retail is going to work at the building, some changes will have to be made to open up the monolithic pedestal of the building. Will Fried and his partners make headway towards necessary alterations by playing nice with preservationists?
· Amex Landmarks Talks [NYP]
· Real Estate Bigs Ready Wrecking Ball for Landmarks Law [Curbed]