The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-02-20

the InterSe ctiOn of Fifty-third street
and Fifth avenue, a spot which for
many years was the very center of
what is som etimes called the social
artist cracy of New York, has appre-
ciated in value from $50 to 200 per
cent. One of the larger firms deal
ing in carriages and automobiles ven
tured, some four years ago, to buy one
corner plot and erect thereon an ex-
pensive building The venture was
then spoken of as somewhat rash 1t
was the first appearance upon Fifth
avenue of warehouses and shops de-
vote to the automobile business. But
instead of being rash the prOprietors
of the building have recently negotiat-
so great profit as of itself to have
justified the investment, even though
not a dollars worth of automo biles
When the publishing house of Charles
Scrfbner & Co, some fifteen years ago,
established itself in a new home on Fifth
the proprietors thought the building
would be sufficient for any bust
ness they might do for fifty years.
They have found it however not only
advantageous, but imperative. to estab-
lish themselves in new quarters on upper
Fifth avenue, more than mile and
half distant from the house which they
have so long occupied
The property which they have secured
was for years the home of Roswell P
Flower There he lived when he was
elected governor of New York, and when
afterward. he was conducting his great
boom campaign in Brooklyn rapid transit
properties
1t is curious coincidence thar another
publishing house. E. P. Dutton & CO.. has
recently secured offices for it's house in Il
new and larger building which is to be
erected the site which the home OF
Governor Morton has long occupied on
Fifth avenue. At one time, it seemed
probable that the publishing business of
New FORK and the book selling trade
would concentrate on Fourth avenue in
the vicinity of Madison Square Garden.
That tendency however, has been over
come. The publishers of New York
whose names are familiar to the book
buyers and to the public all over the
English-speaking world are now concen-
trating upon upper Fifth avenue, within
a short distance of Central Park plaza
The appreciations of real estate in this
CITY may be illustrated by the price paid
for a niece of real property which, gained
national notoriety a few years ago as the
building wherein gambling for high
stakes and with very rich men as patrons
was carried on amid most luxurious sur
roundings. It was called Canffeld's. For
a ploE of ground, 20 feet front, and 60 feet
depth upon which the house stands, the
price of 5000 a front foot was paid. The
mario wness of the depth of the lot alone
prevented price as high as 5000 a front
foot.
A little farther down town. a parcel of
real estate Just off Fifth avenue, having
80 feet front and 90 feet depth, was pur-
chased few months ago at price OF
week for little over 5000 a front foot
These high prices for side street real
estate are due to the complete change of
Fifth avenue from q street of fashionable |
homes to one of retail business shops
The pressure has been upon the east ana
west sides of Fifth avenue. and the ex-
perts believe that this pressure viii con-
tinue until all of the side streets north OF
Ihirty-fourth street to the Central Park |,
plaza, a distance of a mile and a half
which are bisected by Fifth avenue Will |
be occupied by retail shopping houses al
though there will be some lofty buildings
The Equitable Building.
As was intfmated a few days ago in
this column would be the case, the insur-
ance department of New York state has
disa pproved, at least informally, the
proposition at one time seriously contem-
plated bv the directors of the Equitable
Life Assurance society to erect very
lofty building on the plot of ground here
tofore occupied by the EQuitable's home
building. These plans have been aban- |
doned and upon the very day when the
other real estate transactions here re- I
nor+ed were in progress, the Equitable d. |
reotors practically reached the determine
ton to sell the land upon which the |
E;ouitabIe building stood. If wisely |
handled. this sale will probably tetch |
SIS coo 90. That will be far more than |
enough to buy an adequate site nearby I
ana to erect thereon a building sunlc1ent /
in every way for the business OF TINS as
~ IL tic1 HOLLAND.