Section 5-438. Closing of street; vesting of title

Upon the date specified
  in the resolution of the board of estimate as the date  upon  which  the
  street,  proposed  to  be  discontinued  or  closed, shall become and be
  closed, all easements, in and over the land within such  closed  street,
  of  every  nature whatsoever, whether in favor of the public or in favor
  of the owners of the real property abutting thereon, shall become and be
  extinguished and destroyed, and ever after such date, such former street
  shall cease to be or remain for any purpose whatever, a street.  In  all
  cases where the city, at the time of such closing, shall acquire the fee
  title  to  the  whole or any part of the land within such closed street,
  the city shall acquire and become and  be  vested  with  the  fee  title
  thereto, simultaneously with the closing thereof.