New-York tribune., 1911-04-23
i PLANNED BUILDING
:. !, Came Owners Have Done
''' tor Fifth Avenue Zone.
ss.ruRes OF THE SECTION
Use of Thoroughfare for
High Glass Retail Pur-
poses Threatened
-, crier Cooke. President OF the fifth
h''' Avenue Association.

-.s, and most immediate duty on
I's - those interested in the welfare
~ Fsb ser avenue is TO take united and
..rs action 10 secure its best further
se'.a,,ent and preservation for distinc-
| rp' -. and value that il now pos
sssss. ..,,o- Natural but in
~ conditions. by reason OF its loca-
r'"a.' .s,atjon 20 all other avenues and
30 in Manhattan. has secured Its
fsa, LEADING position as the most ap-
as.u o,s attractive street for the best
S1NA ',.;on NJ high class modern merchan-
o,,r country The land investment
,Wd,nr investments along its length
"a ,,n,tal invested in merchandising,
- and other activities represent an
NOUS outlay of money
60 rgf,h avenue maintain. for genera
% come. as il should. the position II
soids in view of the menace Of the
,.r5,nr and the manufacturing inter-
- ssirg brought into immediate adja-
thereto bv the building operations
- ,lace and the character of the oc-
..,,op and general industrial and manu-
sa-,,g processes being carried on. as
'-'-s-,sbed from pure high class retail
x? o.. 49,, r.h,la
-..,,ool;s # Fifth avenue should be trans
- into mere manufacturing or busi-
street of similar character 10 those
- are paraue. 90 its course on the east
I, ras. sides To would appear as If
-. we're ample opportunity for the es-
sn,h,,snt Of such lines OF trade and
-..rfscture along the existing business
--.,,es and that the particular value OF
-..s avenue as a shopping centre would
vrsatlv in excess Of anything that could
-, iron, its transformation into line
4 manufacturer.
-Ss course which appears 10 have been
.,n,rsd in the southerly section of the
.rs,,e is that which is indicated by a few
-.,.,ss instances in the middle section.
.. ,seidertjsl character OF the avenue
-, r,serroes transformation into a line
!. stores following the very natural de-
-.,onrsnt due 10 the value Of the show
.-,,,age upon the sidewalk level. which
ZONES Of a greater rentable value than
no occupation Of three or four stories OF
s.,diug for residential purposes.
The rext Transformation would appear 10
- naturally. the removal Of such old
s,o,es-their replacement by others of more
-o5sr- design. affording. perhaps. better
,svar,ages Of display and light. and secur-
,r a higher rate Of rental commensurate
zi,h those advantages. and returning a
--ooer interest upon the gradually enhanc-
~ vah,e OF the land. This course has. in
, uurber Of instances. been followed, Dut
- a number OF other cases the new owner
san old property, who has paid the price
vbjeh includes the increment upon the lanc
,ve. imaCines that he will secure a
realty increased return upon his invest
-snt If he doubles or trebles the size or
e Improvement upon his land by piling
es structure up into the skies.
Nor owners have failed 10 recognize the
ar. as has been pointed out In recent
,soHeasion. that such building imposes an
.rdae Investment upon the land value and
,-,ss tie owner into responsibilities and
.,oer.air1ies which do not properly belong
3 he oueration ofFimproved real estate.