New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-02
FIFTH AVENUE TRADING
cood Market for Big Properties
in Shopping Section.
LARGER BUSINESS AREA
Came of the Most Important
Sales Reported in the
Last Six Months.

yea. o,d at the present time il Is on the
- ~ getting much hrmer toothoio IL
Neie' - ~ the cross streets, one of
wbich Is 9th street.
VIM. ,..-,,,r the number Of vast improve
..,,cb have been carried out In this
No. ,oction OF old Manhattan In recent
So .,a constructive work planned there
80 ,.oar Is much larger than pTooaoly
,rost real estate experts eNpec'eu 90
=, every month there have oeeh DIT LeaS'
.av.-aI important transactions N AZ"
o,srYe Notwithstanding the fact 'hS' 'i0
o-.. ~ salable property Is much less '""h
=. rae when this section OF the Guy vas
&C., transformed from weak retain us
-, ,r,o one OF the greatest shopping
-,.a~,as g., the world. And many OF the
s,.ss which have changed hands are SOON
70 be improved. .-.,-., aroo
.bout six years ago the principal area
- This territory extended from MauiSon
c.,,a~e N the Waldorf. IN o4th street
St-a' .,.s-vvars the northerly movement
became extensive. IT, ,,,
blocks north Of its old noruler'S mint 80
:. ,Ss early days Of this business ex-
,s-s,on Gath street was not widea"aAe
80, ~ this district Along S4th street
,,,broken row Of old brownstone
80 ussd exclusively for residential
..sas When high class retail business
F..s .bA etrAet the thoroughfare quick
y. ,os. ,,s old residential appearance ana
.o-aav rs artery is one Of the strongest
and most important links in the shopping
districts OF the greater city.
Demand for Retail Places.
r.. demand for retail places on Fifth
o,,snus Is growing Notwithstanding the
assertions OF many heads Of certain con-
.o-ns located there who say that the high
-or,a's are barrier 70 attracting many
Aop-,sb,nz concerns. This is partly shown
~ the constantly increasing importance
~ -nanv side streets as adjuncts Of this
shopping territory
BESIDES the northward tendency in the
district there is also another forceful one
which is plainly observable in central
Madison avenue. the first big thorough
fare east Of Fifth avenue running north
and south. Here the drift Of affairs is not
centralized. II is probably scattered owing
70 many reasons. In the southerly part or
The avenue Just north OF Madison Square
good market for properties has existed
for two years. Chief interest. however in
Madison avenue developments centres at
S4th street
Large numbers o. merchants who want
n be near the heart Of the central Fifth
avenue zone would like 70 pick out sites
On Murray Hi that they think will be suit
able for their purposes But their designs
IN this respect are still held partly in
check BY the concerted action Of many
property owners, who are fighting to con-
-,nue this beautiful Murray Hill residential
district along its old lines.
The property owners do not want 10 be
surrounded by trade, and they cannot IN
derstand Why there is not ample room
north and south Of them for all the mer-
chants who desire TO DO business. on or
near Fifth avenue.
This struggle for residential existence
for such II isis much more tense than II
was some months ago. Never in the his
tory Of the city have property owners been
able in such a fight 10 keep their ranks in
tact for a long time. Maybe this will he
the exceptional case, although there are
Indications that the property owners are
losing strength They will probably keep
business from annoying them 10 any con-
siderable extent for some years yet and
then they will capitulate with good grace
A Speculative Centre.
Business also has apparently determined
that 57rh street must be its own possession
IN the very near future That street is
undoubtedly destined 10 be just as impor-
tant q retail shopping district as 23d street.
and even 34th street. The greensboro
Bridge has its westerly terminal or ap-
uroach at one end of the thoroughfaTe,
and the proposed bridge across the Hud-
son River will probably have 10 be built II
Al all. at a point near the westerly end or
the street. Thus the street will form
great crosstown highway. connected by
bridges with Long Island and with New
Jersey
Millions are going 10 be invested within
the next few years in this part OF Fifth
avenue. and IL is also predicted that large
retail business houses will be erected there
within that period.
Tbere have been many important sales OF
central Fifth avenue plots and buildings
the sale OF the twelve story building No.
% West gath street by Elizabeth a. Wilcox,
through Julian Benedict and J. c. Hand, TO
Isabella Loring. Mrs. Loring gave IN pay
ment the vacant plot. l00xl20 feet, at the
northwest corner Of Central Park west ana
slst street. Diagonally opposite the S4th
street site is the block front on Whlch ~
being erected the Hotel McAlpin some OF
the old values IN this street show what
vast Increase in prices has occurred there
r. the last ten years. In the early part OF
1901 a lot adjoining the building sofa
changed hands for about $4,000, or at the
rate OF & 900 a front foot. Some months
ago a plot a little less than lot changed
hands for about $4,000. The square foot
price in the former transaction was S1o "
and in the latter STA ST.
Farquharson & Wheeock bought early
In the year through Worthington "hl'e-
house the four story building No. 7A Fifth
avenue Il is about 40 feet north Of Doth
street. The site at the northwest corner
Of 56th street and Fifth avenue was leased
some months ago 70 Henry J. Duveen by
the George Kemp Real Estate Company
for a term of twenty years.
tNN' 80 4AlA dFtAAc, III l44C sum- N@-'
formerly the residence Of Charles w.
Morse. also changed ownership.
A feature OF the trading in the early part
of the year was the purchase by Black,
Starr & Frost OF No 5s2 Fifth avenue, adj
joining their site at the southwest corner
OF 18th street. The premises No. 1872 COM
prise five story business building on
lot 5oxlo0 feet. II was sold by the No. 592
Fifth Avenue Company.