New-York tribune., 1922-06-26
Cirnbels Lease
Site Occupied
By Saks 4 Go.
S8,OOO.O00 Involved in
Acquiring Greater Store
Space 10 Meet Demands of
an Increasing Business
Take Possession in 1924
New Expansion Will Mean
Nearly $500 Employees
and Millions in Stocks

Clrbel Brothers have acquired The
s,or. building occupied BY Ssks
Co On lease covering long term
Of wears. Il was announced yesterday.
Ths total sum involved is 100000.
Thev will not take possession Of the
proper,v until the spring Of 1924 but
tens will be taken Immediately 70 pre-
pare for the enlargement o. their busi-
ness.
Negotiations had been underway for
,ome time between Isaac Gimbel' presi-
dent OF Gimbel Brothers, and George
Whelan. president Of the United Cigar
stores Company. The United company
holds the property commencing with
tho eYpirstion Of the Saks lease IN
1924 when Saks { Co. Will move up
sown. Their new location IS IN upper
Fifth Avenue.
The deal brings 20 Gimbel Brothers
virtually another city block OF prop
er.v j, is only four years since the
company bought outright me SITE OF
.,..r presert store. With the new
holding their properties represent one
a. the largest retail establishments IN
There viii be a frontage on Broad
,gav a. 400 feet. or two city bloeksi on
Thirty.second street Of 400 feet on
to ssyth side of ThiTty.thrd street.
zoo feet. on the north side Of Thirty
ttird street. 100 feet. and on the soutn
side o. Thirty.fourth Street 100 iee''
Employees viii Number 1900
Gimbel Brothers present store has
.sc largest number Of display windows
Of any store In the city wIth WIN
Jovs on three streets Broadway,
Tbirtv-socond street and Thirty-tnird
stree. The Saks site has big group
o. displav VI. ndnws on Broadway ana
on Thiity-fOgr.h street The numDei
a. rrreor- ,.4-.tycd lr the new en-
l.fgci rtorcs ot G.mbel Brothers prob
ably will BE- in excess Of i,5OO. lh
statement issued yesterday Isaac Gim-
bel said.
"lt IS estimated that with the huge
volume OF business made possible ~
flr rnaee expansion the operating costs
,.I BE- sO lowered as 20 establish the
lowest possible price level Tor goods
of established quality. The amount OF
merchandise necessary for the conducl
of this great business viii amount IN
permanent stocks 90 many millions OF
collars. and it is our intention 70 carly
,..ortmcnts sufficiently comprehensive
.o oatft properly every man. woman
and child N orcry walk Of me- WIZ
shincs for the home oi the most
1enifcont or modest order
Expanded Into Great Institution
C.m5el Brothers was founded abou.
..staty-fvc years ago by Adam Gimbel
fur Trading post In Ninccnnes,
l.I lt has been expanded by his sons
.ho. With their sons, are the active
owners and operators, into an lnsti-
ft1n that. with tho addition Of the
-aks property VIII represent an an
r.a volume OF business IN their va
Io.e stores of approximately SlOO,.
100000. IL has only been a matter OF
.lmo thirty yCaTs since they estao-
1cd thc.r ffst large department
lt.re in Milwaukee. Wis. u was a
nuck step fr1m Milwaukee 20 fnllai.,
lDluhIa and 0n 90 Ncw YORK. Ihis iall
,i. mark che tvolf'h anniversary OF
frc entrance of Gimbcl Brothers into
New York Clty. at the corner Of thirty
tirl street and Broadway. when they
... moved .r tne PFC cnt building was
n.Ilcrod Mi.c 20 take care Of th'
hcrcs, business chat any retail con
.4. ro..i hope for. IN spite Of Tho
far. that .t cover. approximately q citl
lo.t. Con aoor hch and three hoor.
below thc street level. tho need foi
~le.tor space has been fe.t fof con
dcrablc length of time The entire
ssks building wlii be used fof thC
oMbol business
Members of Che Gimbcl firm residing
in Oh. city arc Isaac Gmhcl, Louis S
Cimhcl, Bernard + Cimbe., Frederic