New-York tribune., 1915-03-28

Sixth and Madison Avenues will be IN
less than FIVE years hence 30 or 4O per
cent more than the prices that We're
paid in the section at the height OF the
buying period q few years ago. Inc
lowest estimates Is to the probable
increase is between 20 and % per cent.
Furthermore, there is another very
important phase Of the 6Ith 81.
situation on which experts are
not OF one mind Quite q large num-
Der Of real estate brokers think tnat
both the north and south sides OF the
street between Fifth az. and MacI-
son az. are going 70 yield as large
profits before 1920 for spectators ana
INVESTOR a- the south on north sides OF
The thoroughfare west Of Fifth Avenue
% Sixth ay This situation permits OF
three attitudes: those who have a
leaning toward the easterly part OF the
avenue, those who hold In highest
esteem the westerly part Of the thor
oughfsre, and, lastly, those who think
Just as much Of the easterly as they
Do Of the westerly side Of this cross
town artery.
About thirty years ago the southwest
corner Of 9th st. and Fifth av. was
o5ered for sale for $500 600 by Frank
Stevens. the then owner Ct the prop
erty. The premises were put up ior
ale fully furnished. In January, 1913,
bis site was sold by Harry Payne
Whitney TO August Heckscher for
about S2.0G00OO. The site has front
age Of 100 feet on Fifth av. and OF lZ6.o
feet on 57th ST. Computing the value
according 20 the Fifth av. length or the
STE, the market price of the plot is
10000 a front foot Estimating II by
Us street length il is $4,000 foot,
'oI l25 times $4,000 is just S2,OOO,OOO.
In the light Of realty precedents, the
south side Of q crOsstown street Was
generally much more valuable than the
North side Of the street. For instance,
IN It's shopping heydey the south side
@ l4th 81. was not only the preferred
Part but IL drew many times more
shoppers than the other section. When
Eod ST.. too, was one Of the most at
usetive and popular shopping centres
N the town the southerly side OF the
sneet was almost an unbroken row Of
VS department. stores; on the north
,sTiy side a grouping Of miscellaneous
business. with one Of the leading hos
u and Broadway, "a big savings lnstl-
..uon a. the northeast corner OF 23d
~ a. Sixth av., and short distance
/" NE east the Eden Musee.
Neither 34th nor 42d st. was mould
% so that this old custom could be fol-
VRed. At the time retail business
moved from Fifth av. into 34th 81. II
va thought that on the Waldorf
astoria side Of the thoroughfare would
ye the popular route of travel for ship
yeS, The street furnished one, If not
.Ie nrst, exception 70 the old rule, as
me north side here IS the most pre-
'..Sfed now. Forty-second St, owing to
ne New York Public Library being on
ne south side and the Grand Central
ra'imlnal on the north, most passersby
''g The uptown side of the street.
oot when one sets foot in 57th st. IT
ss seens that the old preference for the
IL ash W side Of the street will be II force
'he days 10 come, when this part OF
, @ Town is one OF the most inviting
EuIes Of elite shops. Naturally, the
faF OF this great centre, now IN
,,oollnauon, will be the four Fifth av.
y iso'11ers' with the parcels adjoining next
,o.,.t e.tshand FOR trade purposes. Al the
a. y1'least corner OF 57th ST. and Fifth
49,. The home Of Mrs. Huntington,
,looh oh lhe northwest corner, extending
fs,tts the entire Fifth av. frontage TO
lh. ' % he nome or MIS- Nanuer-
-He average front foot valuation for