Former Astor Trust headquarters gets renovation job

A historic midtown edifice is undergoing a makeover to bring back its past.

Crews began the $10 million restoration of the former Astor Trust Company building at 501 Fifth Ave. in March and aim to return it to its original 20th century look.

When the Astor family opened the bank in 1916, it sported a limestone facade, but 50 years later, the owners covered the front with black granite.

The project will remove the granite and give the limestone a new polish, according to Alan Abramson, president of Abramson Brothers Incorporated, which is overseeing the renovation.

"Our goal is to not only restore 501 Fifth's tie to that era, but also to recreate this iconic New York City corner, enhancing it visually for all those passing within its vicinity," he said in a statement.

Abramson added that the work at 501 Fifth will complement other renovations in the area such as the New York Public Library main branch across the street.