Seven years before South Street acquired Peking, it bought Wavertree, a wrought iron hulled bark built in England in 1885 that lost her topmasts in a gale while rounding Cape Horn in 1912. She then spent many years as a floating warehouse in Punta Arenas, Chile and later as a sand barge in the harbor of Buenos Aires. When she was brought to South Street her hull was sound, but her topmasts and spars were still missing, and she required extensive work to be put into condition for public touring. The Museum made her restoration a long term project, then acquired Peking which, having served as a floating school after being retired from trading, arrived in almost turnkey condition. For over forty years Peking was the centerpiece of South Street's ship collection, while Wavertree sat forlornly at a neighboring pier, off limits to all but museum workers, and still missing her topmasts and spars.
South Street's galleries, shops, and other facilities on land suffered extensive damage from Hurricane Sandy, which in turn caused complete loss of revenue from admissions and sales for a long period of time. Although the museum was able, with government assistance, to repair the physical damage, the financial damage, partially ameliorated by private contributions, remained. Because of her size, Peking is a very expensive ship to maintain. Consequently, South Street entered into discussions concerning Peking's disposition, hoping to find a new owner that would maintain her as a public museum piece. Fortunately, the German government was able to fund her return to Hamburg, and South Street was able to fund the restoration of Wavertree.
John J. Harvey, now privately owned. For my earlier encounter with Harvey see here.
Lettie G. Howard, part of South Street's ship collection but lso used as a sail training vessel by the New York Harbor School.