The west side of Herald Square appealed to Macy's. Long and exacting
searches into its land-titles were made. Some three hundred feet back of
Broadway the magnificent new theater of Koster & Bial's, extending all
the way from Thirty-fourth Street to Thirty-fifth, backed up a tract
which in the main was occupied by comparatively low buildings, the most
of them brown-stone residences, which already were in the course of
transformation into small business places. This tract seemingly was
quite large enough for the new Macy's--with the possible exception,
perhaps, of its engine-room and mechanical departments. The firm decided
to take it, and with a policy of magnificent secrecy began negotiations
for its lease. In order to accommodate the engine and machinery rooms it
purchased a tract upon the north side of Thirty-fifth Street just back
of the former Herald Square Theater. On this last land stood two of New
York's most notorious resorts of twenty years ago--the Pekin and the
Tivoli. The development of the Macy plan drove them out of the street
and, for the time being at least, out of business.
The Macy plan did not go through to a final culmination, however, quite
as it had been laid out. So huge a scheme and one involving so many
separate real-estate transactions is hard to keep a secret for any great
length of time. Gradually the news of Macy's contemplated step became
public property. It caused public astonishment and public acclaim. For,
remember, if you will, that in 1900, none of the department stores had
moved uptown north of Twenty-third Street. Bloomingdale's was at Third
Avenue and Fifty-ninth and Sixtieth Streets, but it was a gradual
upgrowth, from a modest beginning upon that original important corner.
The last move had been in 1862, when A. T. Stewart had moved his store
from Chambers Street north to Ninth. The cost of the lot and structure
to Mr. Stewart was $2,750,000--a stupendous figure in that day.
The publicity surrounding the proposed move of Macy's found the Straus
family still without one of the plots necessary to the complete
acquisition of all the land in the block east of Koster & Bial's. It was
the small but important northwest corner of Broadway and Thirty-fourth
Street--a mere thirty by fifty feet, a remnant of an ancient farm whose
zig-zag boundaries antedated the coming of the city plan and showed a
seeming fine contempt for it. This tiny parcel was the property of an
old-time New Yorker, the Rev. Duane Pell. Dr. Pell was on an extended
trip in Europe in 1901, when Macy's began the active acquisition of its
new store-site. It was given to understand that his asking price for the
small corner was $250,000; an astonishing figure for such a tiny bit of
land, even today, but Dr. Pell felt that he held the key to the entire
important Herald Square corner and that he was justified in asking any
price for it that he saw fit to ask.
Public-domain text, read in full here on John Shaqi.
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