Fifth Avenue Library Gets a $50 Million Makeover

City book lovers have something to be proud of when they stroll down Fifth Avenue near 42nd Street. The New York Public Library’s Stephen A. Schwarzman Building, one of the city’s most treasured icons, has just received a $50 million makeover. Thanks to the face-lift, the building now looks as majestic as it did in 1911, when it first opened its doors to the public as “The People’s Palace.”