New-York tribune., 1912-02-11

20 42d street belongs to Leopold Well. He
realized then the stupendous northward ex-
pans!on Of tho retail drygoods trade which
would be made in a comparatively few
years.
At that time the Pennsylvania and Long
Island railroads had not even considered
project for linking the Long Island and
New Jersey shores to Manhattan with
river tubes which would form an all-steel-
rail highway to and from S3d street and
Seventh avenue. i'm the heart of the mid
town zone. Nor had the preliminary de-
Mgns for the tunnels of the Hudson & Man
haitian Railroad Company been drawn.
Mr.. We'll collected for r. n. Macy & co.
the various parcels at Bath street and
Broadway which the drygoods house occu-
pies. lie was also the broker in the sale or
the site on which is the home Of Saks &
Co and in some other important purchas-
ing operations in the section. His prefer
ence is for the westerly side Of Broadway,
as shown by the holdings Of his clients.
There are many reasons why the west
side will always be the best side OF big
retail shopping centre for the masses 1t ls
warmer in winter and cooler In summer
than the easterly. Most OF the shops In
central Fifth avenue cater almost eXclu-
sively TO persons who can afford TO ride IN
autos on shopping tours and therefore the
easterly side Of that avenue is just as suit
able and as valuable for trade houses as
the westerly one. It is the only exception
70 this order
The block Just south OF the Hotel Marl-
borough is owned by the Johnson estate
According to reports, it may soon be sold
to an out-of-town drygoods firm desirous
Of opening a store here.
The Nassau street Chelsea, Greenwich
Village, centre Fifth avenue upper Fifth
avenue. West End avenue Sherman Square
and the Washington Heights districts hs-
ured prominently i'm the trading in the week
Retail business and Office demands were
mainly responsible for the activity
The Bronx, too, gave some evidence OF
its realty strength.
The United Cigar Stores Company leased
from George Ehret property at the north
east corner OF Nassau and John streets
fronting 1904 feet on Nassau street and
n feet on John street. for period OF
twenty-one years. with privileges for four
similar periods. The lessees plan TO erect
an eighteen story Office building on the
site
II was often said last year In realty cir
eles that there were many vacancies in
the downtown office area and that 1t would
be many months before more up-to-date
skyscrapcrs were erected there
Since the old home Of the Equitable Life
Assurance Society was destroyed by fire
building conditions there have changed,
nd 40
Fdercd to be identifying themselves with
hazardous undertakings by adding to the
Office area.
Godsmith Brothers recently leased the
premises Nos. 70 and a Nassau street FOR
twenty-one years, with renewals. from
CorEeiiss f. Iiugsland They plan to put
up there big modern brilding. The site
adjoins the COckroft Building, at tho
northwest corner Of Nassau and John
streets and is opposite the property OF
The United Cigar Stores Company.
For the northeast corner oe Nassau and
John streets the United C'gar Stores Com
pany is 10 pay about $4,000 for the first
twenty-ono years, and the rental for the
succeeding terms will be based on raLp-
praisal OF tho property, the cntirc amount
involving more than 100000
Ihere was a number OF big transactions
Al Fifth avenue. In tho centre division
tne Old home Of Ex-Governor Levi i. Nor
'on' at No 6S Fifth avenue, is 10 bc re
paced by twelve story store and oihc'
1nl'oins from plans by McKim, Mead q
'h''e' The store. basement and first tw'
aoo,s OF the proposed building were lease'
rease Elliman ~ a gross Fcntal ="
sno'e lhsn N,019,GG0 Tor o tern of twenty
Sr yne years 10 the book publishing firm o
a. = Dutton Co
,,suon d Co. IS the last large book pun
"s mouse remaining In 23d street, whcr