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By 1938, James Speyer retired, choosing to close the banking house rather than risk losing control of his family's name. Two years later, in 1941, he passed away at his beloved Fifth Avenue mansion, leaving a significant estate to charitable causes. His will directed that much of his wealth fund public service and cultural institutions, ensuring his influence endured beyond his lifetime.
In a turn of tragic irony, the mansion was eventually sold and demolished to make way for redevelopment—a stark symbol of how even the most magnificent mansions can vanish in the tides of progress. Today, the mansion no longer exists, but the legacy of James Speyer continues through the institutions and philanthropic endeavors he supported.