It was the original subway, however, that brought the great real-estate
upheaval to New York. Many years before it was completed New York had
been moving steadily uptown--shrewd observers used to say at the rate of
ten of the short city blocks each ten years. But its progress had been
slow and dignified--relatively at least. With the coming of the new
subway, dignity in this movement was thrown to the four winds. A mad
rush uptown. Wholesale firms abandoned the structures that had housed
them for years in the business districts south of Fourteenth Street and
began to look for newer and larger quarters north of that important
cross-town thoroughfare. The retail world of New York was far slower to
be influenced by the change. For one thing, its investment in permanent
structures was relatively much higher than that of the wholesale. Folk
who came from afar and who marveled at the elegance of Sixth Avenue as a
shopping street, all the way from Thirteenth to Twenty-third, could
hardly have conceived that within two decades it would become dusty,
forlorn, practically deserted. No matter that the hotel life of New York
had ascended well to the north of Twenty-third, that the theaters were
beginning to gather even north of Thirty-fourth, that a few small,
smart, exclusive shops were showing signs of joining the trek--there
remained the realty investment in the department stores at Sixth Avenue.
It seemed incredible that such a huge investment should be thrown to
the winds. Yet this was the very thing that actually was accomplished.
Macy's stood to lose less in an economic sense from a move uptown than
any of its competitors. True it was that the firm had builded for its
own account in Fourteenth Street, just east of the original store, a
very handsome, steel-constructed, stone-fronted building which it had
thrown into the older building in order to relieve the pressure upon it.
Across the way, on the north side of Fourteenth Street, it had put up at
an even earlier date a substantial seven-story store for the use of its
greatly expanded furniture department. The original store, however,
stood upon leased land--the property of the Rhinelander Estate. One of
the earliest of the stories about Mr. Macy concerns the coming of George
Rogers, the agent of the estate and his warm personal friend as well,
each Monday morning; not for his rent; but to cash a check for thirty
dollars. It was not hard to guess at his compensation.
Public-domain text, read in full here on John Shaqi.
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