I decided to check the area in Google Earth and now I too feel that it isn't really worth it to destroy this building when there are others that are more suited to take its place. Like, for instance, the box just across the street.
If they are going with the idea of turning Vanderbilt Avenue into a street plaza, a good street life must be kept. Like at the existing Madison Avenue and 42nd Street.
Now look at its neighbor
Which do you prefer? Now, I'm not trying to say the city can't grow, but I would rather keep a prewar treasure than some 60/70s box if they are on the same street.