New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-11-01
5TH Az. PROMINENT
IN OCTOBER SALES
Trading in Month Just
Ended Will Result in Big
Business Changes.
EFFECT OF DUAL
SUBWAY ON ZONE
Larger Transit Route Will Make
Great Shopping Centre
More Accessible.

ne business LldAsANAtN lA OAHvuNA
in the local real estate market will be
especially remembered for the perfec-
ton OF the plans of Arnold. Constable
& Co. to have a Fifth sv. home, for the
purchase By a newly formed corpora
ton of the Lewis estate property az the
northeast corner of 31th 81. and Flfih
av.. and for the fair volume Of transac-
tions of ordinary character. Two deals
IN the heart of the retail shopping dis
trict of Fifth ay in normal times
usually attract widespread attention.
but in the present tense situation ~
arouses the interest OF old and new
traders TO the highest pitch.
These big operations once again
cause the mind 20 dwell upon the fac
that the brightest realty places in fair
or foul weather are those districts
where property commands the highest
prices and where there is a well estab-
lshed and growing centre. Was 70 noJ
the late Albert Flake, one OF the great
pioneer operators in the central Fifth
av. section, who, whom asked what h.
attributed his success 20, said: "TnA
I rule / have followed is not intricate; Do
is always 10 be where there is the
greatest activity? In the most COW
eted realty zones are most of the big
gest real estate opportunities, and 10
naturally follows that the larger meas
ure Of success is to be had there.
The proposed home Of Arnold, Con-
stable & Co., one OF the oldest dry
goods houses in this city, will stand OF
enc Of the most desirable locations iu
the central Fifth ay. section. This D.
the highest part of the avenue as Ie-
CARDS elevation above sea level. From
Gath 81. to 37th 81. the thoroughfare
rises abruptly, and in the days not long
ago when thousands of horse drawn
vehicles passed daily up and down the
avenue and the automobile was not yet
popular many animals had a most try
ing time, particularly on a wet day. do
pulling their loads up the hill So cas-
lily does the average automobile SUI
mount the crests of the hill to-day thar
the owners or the occupants of the cars
seldom have their attention called 20
the steepness of the hill. But, never
thelesS, the grade of the thoroughfarc
il almost as bad as IL was years ago.
At Saith ST. the thoroughfare is exactly
so feet above sea level, az 35th ST. 81
feet, and at 37th ST. it IS Is feet, ard
that elevation extends from 18th ST.
| 20 42d ST.. where there is a slight drop
of about i've feet.
Some student OF statistics showing
the growth or decline Of cities said
recently in commenting on the great
ness Of the central Fifth av. section
that not a new link in the subway lines
had been devised for making the dis
trict more accessible 10 the public. r.
was argued that the Lexington spur
would only beenft that part Of the city
mostly north Of 42d ST. and Lexington
av., that the Seventh av-Broadway
routes were 20 remote from the central
Fifth av. region that they could not
at all be considered factor in the
upbuilding of that part Of the city
and that the other extensions Of rapid
/ transit lines in the dual subway plan
would not help directly 20 make the re
/ tail shopping section Of Fifth ay. more
enticing 10 spectators. investors or
/ persons looking 70 acquire sites for
/ the erection OF new buildings for their
/ business.
Have the plans Of the McAdoo lines
/ been overlooked? Have the realty
/ critics forgotten that the Ste!nway
I tube, connecting the Manhattan and
Long Island shores, Is 30 be extended
. in Manhattan through 42d ST. 20 Sew
enth av.?
/ At AID 81. and Lexington ay, there
will be a union station Of the Stein
way route, the Greater Grand Central
7 Station, the Fourth av. subway line,
which Is the main route Of the present
/ subway system, and the easterly spur
I OF the McAdoo line beino built from
/ the Sixth av. branch so as 20 cross
under Fifth av. az a point about 4ist
st. From the Park av. entrance OF
+ this vast underground union station 10
will be but a short walk 10 the site
at 40th ST.. and Fifth av. on which will
be built a SIX story home for Arnold
Constable & CO.
This union station, too, will bring the
heart Of the Fifth ay shopping section
within easier reach Of vast numbers OF
persons, and will bind ii with perma
nent bonds OF steel 10 many Of the
central and high class residential parts
Of Brooklyn, the business heart Of
Queens Borough and will also provide
an all-rail highway between the cen
/ trail part Of the Fifth ay. territory 10
the northerly baIliwicks Of New Jersey
! Work will soon begin In removing
/ the former city home OF Frederick "
Vanderbilt, which has stood for many
years on the corner parcel Of the 4Oth
/ ~. plot, and IN razing the other pri-
vate dwelling houses, and stable ad-
joining. II IS planned TO nave the new
home Of Arnold, Constable & Co. ready
on September I. 1915, when both the
Wholesale and retail business Of the
house will be removed from 18th ST.
70 the new Fifth av building. The
site % be improved fronts ll3 feet In
Fifth av. and l7j feet IN 40th ST., and
has a frontage Of % feet In 18th So,
the property bordering on the north
and east OF the Union League Club.
The main entrance 20 the new Arnold,
Constable g. Co. building will be in
Fifth av In 10th 80. will be the car
rlage entrance. There viii also be an
other entrance 20 the building In 39th
81. II was Douglas L. Gilman & Co.
VINO negotiated this most important
transaction, and they deserve the un-
stinted praise OF the real estate fra
ternity in placing one Of the foremost
drygoods houses Of this city and eoun-
try on an ideal site for the uses 20
which IL is going 10 be put.
Two blocks south OF the new site
az 10th a. is the Lewis estate prop
erty, which changed hands on Octo-
Der =, passing from the ownership
OF the heirs OF the estate 20 that OF
the Murray Hill Investment Company,
a newly formed corporation, composed
principally OF New England capitalists. 4
which Is represented by the law rrm
Of 0lney & Comstock. This site, Ike