New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-27
THE ST. LUKE'S SITE.
REAL ESTATE MEN DISCUSS THE POS
SIBLE ERECTION OF A STORE THERE.
A GENERAL OPINION THAT 1T is DOOMED AS A
PLACE FOR PRIVATE HOUsES-A TALK
WITH ROBERT MACIAY

PLACE FOR PRIVATE HOCSES-A TALK
WITH ROBERT MACLAY
The article in yesterdays Tribune regarding the
proposed erection of large business building on
the St. Lukes Hospital site. Fifth-ave. and Fifty
fourth and Fifty-fifh SITS, has aroused a great In
tcrest among real estate men and property owners
In Fifth-ave.. and in adjoining streets. Several of
these men were seen by Tribune reporter yester-
day, and although they differed In opinion as to
the kind of building which should be put up on the
site, they agreed In the main that the site OF ST.
Luke's Hospital as a place for private houses Is
doomed
Robert Maclay. the president Of the Knicker-
booker Ice Company. who owns several houses
and lots on Ffty-seyenth-st. just off Fifth-ave,
and large pieces OF real in other parts Of tn
city. said 10 the reporter THE erection Of large
business block in Fifth-ave and Fifty-fourth and
Fifty-tifth SITS. would only be taking time by the
forelock. do not think however that business
Entertainments In Fifth-ave. will extend above
Fifty-ifh-st. 1 have been a careful observer of
real estate in this city for forty years. and have
found that business always seeks dense populations,
and. as much possible avoids parks and ope3
places This will be seen in the case of Washing
ton Square. You would naturally suppose that the
tide of business would follow the tide Of wealth
along Waverey Place some of those side streets.
To Washington Square from Broadway. But this
square has been left untouched. and the east sides
even of Union and Madison Squares. If they can be
ments of business while the tide swept far be-
yond them.
BUSINESS HOUSES IN FIFTHAvE
IT fully believe that business houses will not be
built above Fffty-ffth-st in Fifth-ave. to any
great extent. because Central Park being on the
west sde the population is necessarily somewhat
small along Fifh-avc. between Fifty-ninth to
One-hundred- nd Tenth SITS. OF course the
ton of great hotels around Fifty -nnth-st. and
Ffth-ave. centres q large population In very
in itself so far as the amount of money spent every
Sas rs to Ts men be neSr to
Another well-known real estate man. In speaking
% e the S ss1
this city. OF course. many people will throw UP
S m o K on the 81 oa ST. e.
Iukes' and will loudly deprecate the sacrilege Of
70 be the ones to jump irst at the offer Of three
are now living in If made to them Sentiment is
the way Of Money it IS knocked out e in the ss' first
York
PROFITABLE PIECE OF PROPERTY.
There is no question in my mind that busi-
ness block on the site of st. Lukes Hospital would
be of the best paying pieces Of property Of
that kind in the city. 1t certainly would pay far
better than IL improved with residences My rea-
sons for saying this these: a frst-cass store
tail trade which all business men know is the trade
which gives the best profits. People coming into
town to make their annual purchases have not
time to run around day after uay to find where the
best bargains are. They are dazzled with the SPLEEN
dor of metropolitan stores, and buy at the first
prices. The best of this out-of-town trade is
these great hotels business block at Fifty
fifth and Fifty.fourth SITS. would have practical
monopoly of this trade for many years, because
this site Is surrounded by private houses and 1t
would take a long time for store of equal size
TO get footing in this part of Fifth-ave. Again. |
shopping In this part of the city would be far
delightful than down town, especially to those who
60 In carriages"
Charles A., Seymour. who has charge of the site
OF ST. l-ukes Hospital. by the reporter,
but declined to give any definite information
the subject. He merely said that 1t admir-
able place for a business house.