Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 94, no. 2423: Articles]: August 22, 1914

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Auffusv 22. 1914 RECOHD AND GUIDE 303 iiiililMIIM^^^^^^ liiiiiiiiiiiiiiiiiiiiiniiiiiiiiiii^^^^^^ RENEWED ACTIVITY AT COLUMBUS CIRCLE Projected Building for William R. Hearst Should Enliven § Section—Public Square Now Restaurant and Theatre Centre. | iiyiiillilliliilllliiii^llllillim WITH the filing of plans for another WiUiam R. Hearst building on the large triangular plot at the junction of Broadway, Central Park West and Grand Circle, another link in the up-building of Columbus Circle soon will be com¬ plete. The same owner controls a large frontage west of the Park Theatre on the opposite side of the circle, and rumor has it that as soon as the existing leases expire there will be another improve¬ ment under way, namely, the erection of a nlant for the printing machinery for the various Hearst publications. Ac¬ cording to the report, the project will result in a building to be occupied by the editorial and mechanical staffs of these papers. Up to the present time there has been very little building activity on Columbus Circle. Owners are evi¬ dently biding their time, awaitinff future develop¬ ments. George Ehret's n e w building on the east side of Broadway, from 58th to 59th street, is occupied principally liy automobile concerns, and is two stories in height. The site of this structure was, until a few years ago. va¬ cant, producing nothing for the owner except an income from the adver¬ tising sign privileges. Values in the section in¬ creased so rapidly and the demand for store properties became so in¬ sistent, that it was con¬ sidered advisable to im¬ prove. Old Virginia Hotel. The present Hearst Building, on the south side of the Circle was formerly the Old Virginia Hotel, but several years ago it was converted for business purposes. The plot now occupied by the Pabst Grand Hotel and restaurant was one of the finest modern building operations in the section. When this project was started, many men familiar with the section could fore¬ see nothing but disaster as the result of the venture, which included the erec¬ tion of what then was one of the finest theatres in the city. These men, how¬ ever, were false prophets, for at the start the theatre was successful. Since that time, however, its fortunes have been varied. The operation was com¬ pleted in 1900. The southwest corner of Columbus Circle and 59th street, ad¬ joining the Pabst property, is now oc¬ cupied by the Childs Company for res¬ taurant purposes. It was for several years occupied as a branch of the Mer¬ chants' Exchange Bank. In addition to the Park Theatre, at the southwest corner of 68th street and Broadway is the Circle Theatre, now devoted to motion pictures. With its theatres and high-class restaurants Columbus Circle is a well patronized amusement center. When the automo¬ bile trade invaded that section of the city the interest in the Circle apparently Ijcgan to wane. Persistent demands for space, however, were so strong that property values underwent remarkable changes, and rentals reached such a point that other kinds of business were pr:;ctically shut out. "As far as this neighborhood is con¬ cerned," said Eugene Schleip, Eastern Representative of the Pabst Brewing Company, and manager of the Pabst Grand Circle, "with a successful pro¬ duction in the Park Theatre, the Colum¬ bus Circle section may be re-established as an amusement center. We cannot deoend on the immediate neighborhood for patronage for the theatres and res¬ taurants, and therefore must rely on peo¬ ple coming from other parts of the city. ■ Splendid Transit Facilities. "In order to liven up the district, make it Hve up to expectations, necessary to attract people here. and it is We COLUMBUS CIRCLE AND ENVIRONS. have every convenience from the traftic standooint. as the subway has a station on the Circle, and practically all surface lines converge at this point. Our prin¬ cipal agencies for attracting people are the theatres, which have clearly dem¬ onstrated that high-class productions become money makers, while mediocre ones are failures. In other words, our patrons are very discriminating. This was proven by the large crowds which flocked to see such productions as the 'Wizard of Oz.' 'Babes in Toyland.' The Quaker Girl.' and many others. "What Columbus Circle needs is an express stop. Another improvement which would result beneficially is the (construction of a bridge connecting New Jersey and New York, having as its Manhattan terminal either 57th or 59th street. When this structure is completed a. new and large territory will be opened." New York American Building. The new structure to occupy the trapazoid plot north of the Circle will be known a*^ the "New York American Building." This structure is being erect¬ ed for the Veronica Realty Company. William R. Hearst, president. 258 West 58th street, from plans and specifications prepared by James C. Green, architect, 103 Park avenue. R. E. Moss is the structural engineer. The Columbus Cir¬ cle Construction Co., organized for the sole purpose of erecting this structure, has the general contract. A Tower Later On. As planned at present the building will be three stories in height with base¬ ment and sub-basement. The founda¬ tions, however, are being built to sus¬ tain the weight of three additional stories to be surmounted by a tower twenty-five stories high, which is pro¬ posed to be built at a later date. In design the facades of this struc¬ ture will be strictly Gothic in character. Limestone, terra cotta and brick are the materials to be used. Floor construction will be of an approved system of reinforced concrete and the building will be abso¬ lutely fireproof in every respect. There will be two ar- cades in the structure, one on the first floor and the other in the basement, which will provide direct entrance to the subway station at this point. The building will have en¬ trances on four sides and will no doubt become a thoroughfare at 60 th s^treet from Broadway to (-entral Park West. Permanent Light. Permanent light on two sides will be one of the advantages enjoyed b y occupants of this building as the frontages on Cen"^ tral Park West and Co¬ lumbus Circle are protect¬ ed permanently. Part of the northern half of the first floor of this structure will be used as a circulation and busi¬ ness oflice by the New iork American. As plan¬ ned, this office will have an entrance from West frr^nn .1 . ^^^^^^ ^"^ auothcr rom the arcade running through the building from Central Park West to wdl be divided into stores of various hath "^ n''' ^'^^ ^'^^^ ^1^«^ windows both on the street and the arcades with¬ in, these stores are arranged in two stories, basement and street" level, con¬ nected by a spiral stairway The basement is primarily arranged fir.nv "i'^^f fP^l^* '^"^ ^''l have artis- ticaily lighted show windows on the subway arcade. These stores may be leased separately, however, if tenants so desire, and when storage space in the basement is not essential. The sec¬ ond and third floors will be subdivided into offices and will include all the con- vetuences and equipment of a first-class ottice building. Many False Alarms. Several times during the last decade Columbus Circle has been on the eve ot a big building movement, but each time, for one reason or another, the ac¬ tivity was postponed. Announcement was made several years ago that George Ehret would erect a large building on his property m the east side of Broad¬ way from 58th to 59th street, but he compromised with the present two-story taxpayer.