The residence enjoys plenty of space for lounging. Travis Mark

This late, legendary community activist and urban theorist fought a megalomaniac developer, helped save Washington Square Park and wrote her seminal work, “The Death and Life of Great American Cities,” during the two decades that she lived in this landmarked West Village rowhouse.

Now, Gimme Shelter has learned, Jane Jacobs’ historic home at 555 Hudson St. is on the market for $5.49 million — half a million dollars less than its asking price last year.

Jacobs, who died in 2006, believed that grassroots activism matters, and that cities become great only when people unite and work together, with small business flourishing. Although Jacobs once foiled Robert Moses’ plan to destroy Washington Square Park, she was once dism

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