New-York tribune., 1920-12-12
Fifth Avenue improves with age

Ti1tn avenue improves Win age
Every year brings It's additional re-
tural development and demand from
local and foreign traders for locations
therc-America's greatest retail trad
ing district, The year almost gone
was no exception to those that have
passed. 1t brought the Avenue and
its sister streets much that will serve
rs a foundation for still greater attain
ments, just as the developments of the
years gone by made possible the fruits
of to-day-value, character and popula-
tion.
Economic conditions have not thwart-
ed Fifth Avenue in any respect that is
at all perceptible. Prosperity abounds.
Buildings have been erected in num-
bers, fee and rental values have in
creased and the demand has attained
unprecedented volume. New ideas for
furthering protection and betterment
of the section have been perfected and
diyidual for the appearance and the
civic and intrinsic benefit Of the neigh
borhood
Trade folks displayed during the
year q marked inclination to colonize
or form exclusive trade settlements
which would permit characteristic Sec
tionai developments. Fifth Avenue and
is sister avenues and streets just seem
70 be carried along to higher levels Of
perfection and business prominence by
the impetus of the developments of
terrupt progress in this center of ultra
trading places. 1t doomed along dur
ing the war. and Is booming now. de-
spite the rendjustment that is in prog
ress. which has come to be referred to
as a silent panic. Whether peace or
war, panic or prosperity, Fifth Avenue
seems tc advance. to progress, ire
spective of favorable or unfavorable
general business influences.
Fifty-hve New Buildings
1t would be audacious to refer to
construction II 1t was not known that
IN the last twelve months ffty-hve
buildings were erected or remodelled
in the Fifth Avenue section. In view
Of the absence of construction in. most
sections outside Of the fine retail
ing Fifth Avenue district and the
big business district at the lower tip
way of new construction in the Fifth
Avenue district is really astonishing.
Economics, which have choked the life
out Of every building project planned
outside of these two neighborhoods,
have not been encountered in a serious
form when Fifth Avenue projects were
advanced for promotion. Capital had
no objection to back such enterprises,
although it had no interest in proposals
planned for other parts Of the city.
Conditions we're not permitted to en-
compass Fifth Avenue projects, be-
cause merchant and building promoter
had assurances that warranted the
price of new construction and. capital
knowing this. backed the investor, the
speculator and Fifth Avenue, which in
deed may be accepted as a recommend
alton OF the first order, for capital has
not displayed friendly feeling toward
real estate for some months.
What is more, capital is willing to
further the structural development of
the Fifth Avenue zone, for it Is known
that a score Of new structures are un-
der way, or will be under way, before
long. They are to be completed early
next year, the instructions being to
rush construction. so pressing Is the
demand for premises. This pressure
aso is reflected by the removal of Fifth
Avenue concerns into side streets, to
make way for new business houses.
These changes we're accelerated only
by the payment Of large amounts of
money and even with staggering in
ducements in the shape of heaps OF dol
lars only businesses suited to side
street locations were induced to sur
render their stands on the avenue Of
avenues. These shiftings are bound 70
refult In special trade sections such
as Fifty-seventh Street east and west
OF Fifth Avenue, which Is the recop
nized center Of gown designers, and
the blocks south Of 1t which have slow
iy developed into New York's art CEN
ter. Groupings also are evident on
is, north of the Ritz Carlton. has been
Tor some time the home Of antique
shops. and south of that street mems
stores have been settling, the last to
come there being Tripler's, at Forty
\ sixth Street
Conceded to Women Folks
Firth Avenue is now conceded by
,eai estate men to be the exclusive
maven OF dealers In things near and
dear 70 the hearts of women. An
other ten years will see nothing but
womens stores on this street. The
opinion Is that shops devoted to fur
n.shing the wants, needs and whims
of wofnenfo!k prosper more than shups
that possess no attractions for femi-
limo eyes. 1t is concerns Of this char
acterr that are keeping the brokers
IN the district busy arranging for
stores on Fifth Avenue.
There are only three Avenue con
Germs tha. have shown q willingness
70 consider an offer for their business
quarters. They have placed staggering
prices on them and although the seek
err nave not agreed TO take these quar-
ters at such figures the impression Is
tnat the deals will be closed at about
the prices quoted.
Space above the street level also 1.
comparatively scarce. The Guaranty
trust Company has somo 10 offer in
~ building. ut tha southwest corner