The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-21
SCARCITY OF MONEY FOR FIFTH AVENUES
DEVELOPMENT, THOUGH ALL OTHER SECTIONS LAG
Nearly $4,000, 900 Spent During the
Last Year in New Construction to
Satisfy Demands for Stores,
Offices and ShOWrOoms

tnat their business standing IN Otner
parts of the world would he impaired. |
MI this has been changed. Fifth ave-
nus is now as universally known as
broadway. Consequently many con-
Germs. snail and large. are coming Into
Fifth avenue, and II Is 10 meet this end
less stream that buildings have been
forced up from five stories to seven.
then to ten, and from ten TO fifteen, and
now the limit Is twenty stories. The
: character of these concerns Ia such as to
warrant; the building of the finest type |
81 office buildings, which has been done.
as may he seen by those which have
already been completed.
The most southern of this group OF
new Fifth avenue buildings is rapidly
pearing completion on the site of the
old Calumet Club. at the northeast cor
ner OF Twenty-ninth street. Burton Bros.
& Co, among the largest wholesalers Of
cotton goods In the city now In the old
textile district on Broadway. bought the
corner last April. paying n syndicate of
doctors a profit OF 10000 TO surrender
n lease which they had secured bun q
short time before the Burtons decided
to buy that corner AZ "a site for their
new home. They paid about 10000
for the corner, which Is 4Sll feet on
Fifth avenue and 100 feet or Twenty
ninth street. An eleven story building OF
brick and limestone has since been
erected on the corner. The building will
he ready for the Arm to move In shortly
after the beginning OF the new year. On
the records Of the Building Department
II stands as an eleven story reproof
warehouse and showroom costing $780,
000.
TWO blocks to the north. on the north
west corner Of Thirty first street, a cur
ner known In many sections Of the world.
since 1t WAS the home for many years
ofIhe Duveens, art dealers. Is now the
site of IA twelve story Office and show
room building erected on speculation by
builders. IL 10 about as near TO COM
pletion as the new home OF the Burton
firm. The corner was bought two weeks
before the Burtons secured the Calumet
Club site. Something like $5J".00O was
paid for the site. Under the name Of
the Strath'ona Construction Company
Harry Falk bought the properly. and
has spen, $350,00o on its improvement.
Something like $1,000. 600 Is being
spent Oh changes Ia the Waldorf
Astoria. M the root a skating rink
Is TO be built and a number of other
improvements. are being made. The
next Improvement worthy of note is
the new building Leslie II. Palmer
has erected on the Lewis property at the
northeast corner OF Fifth avenue and
Th!rty-seventh street. Eleven stories
, high, i, has cost Mr.. Palmer $500. 900
TO build. IL has Il face In mixed French
and Gothic style OF light colored ma
terial which is in keeping With the
color scheme Of Fifth avenue
created by the merchants and builders
without either suggestion or urging.
Tn. Lewis corner stood vacant for
many years. 1t was for long the site
OF the Lewis residence. Som years
previous II WIS the home of Gov. Nor
gan of New York, who was known as
the Empire States a Governor. The
Lewis family wanted several million
; dollars for the property. 1t was bought
by Mr.. Palmer for sl.S00,ooo The
= building and the land are mortga ged
/ for $500. o0O.
Next to AIr. Palmer's operation is
? the Honwlt Teller annex, the lower
r part OF which Is occupied by J. J.
y Slater. the shoe dealer who came to
= Flfth avenue this year after being more
: than twent! -rNe years On broadway.
p TIT Arnold Constable store at the
$ sou, beast corner Of Fifth avenue and
| f"itIeta street was opened last week.
= sharing the plot leased from Fred
$ e"ick Vanderbilt is the store of \. l..
e Little, a shoe dealer % Lynn. Mass, \
, two story building cot responding with
the parent building. the Arnold Con-
Il stable store. has been built for the
: sh"e man at the south end OF the plot
a AMI next to the Union League club,
= which covers the remainder of the Fifth
, avenue frontage down to Thirty ninth
+; street. The hrnold Constable stor,,
/, with the two story premises built FOR
Nj. Little, cost $500 600. 1t is ss
stories, of limestone aud terra Gotta
= fronting ll2il feet along Fifth ave
: nue. and l7i feet on Fortieth street,
with an annex to Thirty-ninth street.
Twenty stories will he the he.gh OF
the structure which the Oceanic Com,
: itny has planned for the southeast cor
ner of Fifth avenue and Forty-secono
street. a building which is to cost about
. 81 100000. II is the TALES, building winch
! has been planned this year for FIN
! aNcnue, The Astor Trust Company will
= have the first floor and other space 1,
u the structure. which will be named 10,
the banking institution. With the sit,
7 the Improvement means an investmeu