A farm near the Central Park that could not find a purchaser seven years ago at a few thousands, sold six months since, in building lots, for as many millions.
We might multiply these instances, but the above are sufficient to illustrate this branch of our subject.
Rented property pays handsomely. As much as twenty per cent. on the value, is often received as the rent of a dwelling, and some of the best Broadway stores bring their owners one or two hundred thousand dollars annually. As all rents are paid in advance, and security required for the larger ones, the owner is comparatively safe in his investment.
CHAPTER XIII.
FASHIONABLE SHOPPING.
The fashionable shopping points are along Broadway, from Canal street to Twenty-third street, and in some of the cross streets between these thoroughfares. The principal are Stewart's, Lord & Taylor's, and Arnold & Constable's.
STEWART'S.
The up-town or retail store of A. T. Stewart & Co., is located on Broadway, between Ninth and Tenth streets. It extends back to Fourth Avenue, and covers the entire block, with the exception of the corner of Broadway and Ninth street, which is occupied by the famous picture dealers, Groupil & Co. This break in the building of Mr. Stewart, gives the whole edifice, as seen from Broadway, an awkward appearance. It is said that the great merchant is anxious to buy the corner, but will not pay the price asked, as he regards it as extortionate. The building is a handsome iron structure, in the style of arcade upon arcade, and is painted white, which causes some persons to call it a "marble palace." It contains in its various departments everything pertaining to the dry goods trade. It has also a department for ready-made clothing for women and children, and persons can here purchase at a moment's warning a complete outfit in any style their means will allow. The articles range from simplicity to magnificence in style and quality.
The rooms are always full of purchasers. The city trade proper is immense, and the majority of the strangers coming to the city do their shopping here.
[Illustration: A. T. Stewart's Wholesale Store.]