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Hint: One Civic Treasure Had to Surrender in Part to Another

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Welcome to Cornerspotter, Curbed's game in which you try to identify the location and/or identity of a particular building or streetscape in a historic photograph. Impress us and your fellow Curbed readers with your uncanny insight into New York City and its past!

Progress does not always mean replacing the bad with the good, or the good with the better. Sometimes it just means redistributing limited urban land from one good thing to another. That is the case with what happend to this spot in the early 20th century, shortly before the photo was taken. Have any idea where this is? Drop your guesses in the Comments and let the first correct responder win.
· Cornerspotter [Curbed]