Interesting sign along the River Line (West Shore)

While trying to locate old New York Central Railroad stations on the River Line (West Shore) in Rockland County, New York and Bergen County, New Jersey this past weekend, we found an interesting sign while crossing the railroad at the grade crossing at Broadway in West Norwood, New Jersey. It indicated property for sale, Penn Central Real Estate Company, 466 Lexington Avenue, New York, NY. We took a photo of the sign and as soon as we get it developed, it will be posted. Interestingly, the sign looked relatively new, considering Penn Central hasn't existed for 20 years and 466 Lexington Avenue is also long gone. I'm going to post this on the CSX discussion board and the Penn Central discussion board.

466 Lex used to be where the dispatchers were, among other things. Don't know if Metro North still has them there or not.

Penn Central still exists, as a holding company, prinicipally with real estate assets that were not conveyed to Conrail in 1976. After the formation of Conrail, there were a number of such holding companies (EL, LV) that remained for years, to dispose of assets no longer of value to the consolidated corporation.

This is a common business practice after a large company dissolves.