The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-01
REAL ESTATE MARKET NEWS AND COMMENT
Fifth Avenues Upbuldng Continues Despite Hard Times;
More Than S. 900 Spent This Year New Construe

the general lack OF business con-
hdence the current year probably
would have been the greatest building
period IN the history OF Firth avenue.
Buildings would be going up in many
sections, but especially so In the stretch
between Thirty fourth and Forty second
streets, which to-day is probably the
strongest In the market as far as rents.
and fee value In concerned. In other
sections of the avenue changes would
have occurred but not 81 many as
In the section just mentioned The
malteshitt business buildings. dwellings,
made over 10 meet tho cx1gcncias OF
trade, would have been tumbled down
and new buildings erected. Ono man
went even further and said that som,
Of the pioneer OH buildings in the
department store district would prob
ably have been removed entirely to
make way for taller buildings or their
height and interior arrangements
would have been Increased and altered
to meet new conditions on the avenue
Fifth avenue IS tine big street Of New
York. 1t Is the Fading shopping street
! Of the city and one Of tho greatest IA
the world. The time has passed when
Fifth avenue has to share its reputa-
ton with Broadway MS the big shopping
street of New York. All but five OF
the big department stores are on Ffth
avenue. and as four Of these arc within
block at the most OF the avenue
they are virtually IN tho Filth avenue
zone. The avenue seems TO be teemIng
with business activity. Crowds OF shop
pers are pushing In and out of stores
new shops are being opened AMI
brokers say that the demand for bust
| ness space IN certain sections. as in the
dozen blocks between Th.rt.cth and
Forty-second street, Is greater than
the supply. They say new buildings
are needed and point to the QUICK
| renting Of those that have been started
| or recently completed In these blocks
as an indication OF tho demand.
/ But the sinews OF war. money in
other words, cannot he had unless
/ fancy prices are paid. so builders are
not trying to meet tho demand as
readily az they would II capital was
not boarded and guarded SO by those
who control Il. Even with such DIS
couragements thers IL moro building
on Fifth avenue to-day than on any
other street in the city. Seven new
buildings have clthu been finished,
started or planned since the first Of the
year. Then there have been altsra-
tons which In each casa cost more
than would build new building in
another section OF the town. The
new construction, including alteration
means an outlay OF more than $1,000
900, according TO the hgur1 - submitted
with plans TO the Building Department
These figures are estimates. AZ a rule
architects do not try hard to approx
mate the cost OF the building they have
designed when submitting plans TO the
city bureau, 80 the cost OF coustruc-
ton of these buildings can safely D.
said TO be much more than the published
figures. with the exception OF on'
: operation all the buildings nre in the
Il shopping district. This exception is IN.
Improvement OF the southwest corner
+ OF Ffth avenue and Thirteenth stree
with a twelve story building by Georg,
A. Plimpton.
The notable projected Improvement OF
the year is the structure that Will h,
erected for Arnold. Constable & co. a
, the southeast corner OF Fifth avcuu,
, and Fortieth street, running back behino
, the Union League Club to Thirty-nintl
street The new store building will cos
81 100000. II will be six stories high
, built OF limestone, like all new buildings
: on Fifth avenue. which has earned 70
Fifth avenue the name OF the Whit,
Way" Its height, however, because o
the great space between floors VIII %,
equal TO an eight story building Thu
. structure Will he 1910 feet along Fra
avenue and on Fort.cth street II will eN
tend 175 feet. II will be - feet on Th.r
I lty-niuth street. Tho building will har
b monte with the Public Library, diago
nally across. az much as IT will he posi-
, ble 10 make It. Architects who have de
4 signed buildings near the library hav
G not overlooked the beauty or the build
. ing. SO the result viii be Il small colon
2 OF harmonizing buildings which Nigh
! be called the Library building colony.
. The Arnold. Constahl' building vii
? have the same area as the present HON
9 OF tho firm at Broadway and Nineteent
street The new store will cover tn
site OF the mansion Of Frederick w
: Vanderbilt and other property he own
: nt that point. Through "A deal arrange
/ by Douglas L. Gilman & Co, Mr. Van
= derbilt will remove his house and tn
z other building on the site and erect III
y sort Of store building tho Arnold Con
!. stable firm desires. The finished build
. ing the firm has n rec 10 ta'e 10
twenty-one years with renewals. For tn