The Morgan Library & Museum – formerly the Pierpont Morgan Library – is a museum and research library located at 225 Madison Avenue at East 36th Street in the Murray Hill neighborhood of Manhattan, New York City. It was founded to house the private library of J. P. Morgan in 1906, which included manuscripts and printed books, some of them in rare bindings, as well as his collection of prints and drawings. The library was designed by Charles McKim of the firm of McKim, Mead and White and cost $1. 2 million. It was made a public institution in 1924 by J. P. Morgan's son John Pierpont Morgan, Jr. , in accordance with his father's will.