The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-11-19
BROADWAY BUSINESS PALACES.
4 Great Grocery store-The Heart OF the Re
tail Trade business on Finh Avenue.

4 Great Grocery Store-The Heart OF the ne
tail Trade business on Fifth Avenue.
1t will be remembered that Mr.. Francis
Leland, President OF the New York County
Bank, purchased last spring. at cost Of t2tO'OOo
the property on the southwest corner OF Broad
way and TWENTY first street, which ia now being
completely remodelled at AN expense OF about
$4,000. IL was bought under the following ar
rangemenu with Park h Tilford. the present
lessees: hey take a ten-years' lease, and par
seven per cent on the original purchase money,
and Sven per cent. on the cost Of the Improve
ment. with the addition Of taxes and assess
ments as yearly rent. In word, Mr. Leland gets
seven per cent. net on hts investment, uiraD eei
to him bv Park & Tilford, for a period OF ten
years. We believe they ply ABOUT s22, 900 for the
four-storv building and store they now occupy on
the northwest corner OF broadway and Twenty
first street IL fronts fortyfour feet on Br 1adway
and s ab nut one hundred feet deep. Here they
have been established for many yelrs, and here
they made the great pulK OF their accumula-
tions, estimated At from three TO four millions
Of dollars. Their lease expires May next
They expect to remove TO the new store In jan
uary. IL fronts forty eight feet on broadway,
aud one hundrei aud tbirty-six feet on Twenty
urst street. he new building on Twenty-irst
street. erected by Mr.. Leland Oh the site Of the
itv, Ia forty-six feet front 10y very nearly the
whole depth OF the lot. ninety feet. The whole
structure Ia four stories high surmounted 10y a
Mansard roof. 1neir rent will probably stand
them In abou; So their interest on $4,000
at seven per cent. Is fs2100; taxes roughly osti-
mated. $4,000; tot Il, s2d,lOo
To TINS must he added whatever assassin ents
may DO imposed on the property during the
term, and any incre .se OF taxes. The assess
ments cannot but be trifling rs all pussiOIe i'm
aginary soc Lea "iu provements" oy which Jos
are perpe rated at the expense OF the property
holders have long since been visited upon the
hapess owners In this vicinity. Upon the whole,
we think both Mr.. Leland and Messrs. Plrk
Tilford are to be congratulated on the arrange
ment. PARK & Tilfnrd secure one Of the 1nest
pieces OF property In New York for the trans
action OF their business. ADD Mr. Leland secures
admirable tenants. The rental OF tue upper
part OF the building on Broadway, to be devoted
to bo'el. apartment, or dwelling purposes,
will very considerably reduce the rent To the
lessees.
Mean while, Mr.. Bradsh johnson, owner OF the
property now occupied by Park a. Tilford, loses
a most excellen. tenant. Mr.. johnson owns the
whole front on the north side Of Twenty frat
street. from Broadway 10 Fifth avenue. He re-
sides in the three-story dwelling, with stable
adjoining, on the nortbe st corner OF Fifth ave-
nue. aud Twenty-Hrst street p,acard an
nounces that this property. running from Broad
way to Fifth avenue, is to lease for long term
OF years. We understand the yearly rent asked
for term OF twenty-one years, the tenant to
make his own improve uents, IL about $4,000
per aDnum aud taxes. Mr.. johnson bought this
property about Gfteen years ago from the estate
Of samuel Nichol on, deceased. lie paid for the
whole tl0l,OOOl Since item he has erected the
four-story broadway store.
1t Is matter Of no little speculation among
real estate owners IN this locality as to how this
magnificent property will be o -clolsd and i'm
proved. We learn that the Lptos Ciuo was AZ
one time 10 negotiation for the FIJI h Avenue
house, but 1t is hardly probable that the owner
would he willing to sep rate the Fifth avenue
and Bro idway fronts. Whatever rent the Fifth
Avenue house might bring for dwelling or clue
purposes, II would IN come ction with the Broad
way FROM command twice tho SUN for business
purposes.
The character OF Fifth avenue In THE locality
Is rauiilv undergoing very great change. Ar
mold & Constable will occupy tneir new store
on the corner of FIFTH avenue and Nineteenth
street about June next. The corner im-
mediatel, opposite the southwest corner OF
Fiji avenue aud Nineteenth street Is already
In the marke. for business purposes. In
fact, the retail business which formerly -four
ished IN Broadway, below Union square. is being
gradually forced W above Seventeenth street.
broadway, between Seventeenth aud Twenty.
third streets, l., and viii Us for the next ten
wears. the great centre OF elegant ret III tr de In
this city. IL cannot, however, accom- m I'd .te
the great mass OF business which now presses
ON II. fhe surplus business Is oveIhlwing
through T. eighteenth, Nineteenth, twentieth,
Invent, first, and rweuty.secOnd streets into
Fifth avenue, where rents are for the present
lower. And thus IL happens tnat the mansions
OF the wealthy are being slowly but surely
pulled down or knocked to pieces to make room
for the wants Of trade. Fifth avenue, from
Seventeenth to rwenty-tnird street, Is already
marked and condemned. within the next
three or four years II will be sort OF Rue de l.
Paix or Regent street-a pleasant place to stroll,
but not pie lsaBt place IN which 20 DIV H.
Among the recent new business arrivals IN
this quarter We notice Haines Brothers. plano
forte manufacturers, who h ,vs leased from Mr.
bdiding on the southeast corner OF Fifth av-
enue and 1--we ty-frst street. Ihey will have
their show or warerooms mere. Tho store Of Mr..
Henry Bergh. the cruelty to amin lis man. on the
northwest corner Of Twenty second street an d
fiftn avenue, has been. as we Understand. lpAsed
for dry goods store. he recent u 'idqu 'rt-rs
Of Mr.. Green, on the W, st sias Of Fifth ayenu-,
between Twenty-1rst and Twenty second
9 reefs, from wnen e he carried on short sem
timental campaign looking DWARF the MAY. r.
atty, are about 10 be occupied as picture store.