Today our 34th Street archivist, Anne Kumer, shares some retail history of the district. This post also appears on NYC Circa.
Retailer Benjamin Altman of Altman & Co. opened his first large store in 1886 at Sixth Avenue and 19th Street. Though he previously occupied smaller stores in various parts of the city, this location was quickly dubbed "Palace of Trade" for its vast inventory and size. Business was great, and soon Altman was looking to expand yet again. Noticing the increasing numbers of mansions appearing along Fifth Avenue, he chose the
corner of West 34th Street and Fifth Avenue for the new flagship location of his
store. At the time, the area was quiet, residential, and didn't look at all like it would support a large retail outlet.
34th Street looking east from Fifth Avenue, 1870. Image: NYHS |
Altman purchased his first lot under an employee's name (Benjamin Jenkins) rather than his own, on the SE corner of Fifth Avenue and 34th Street in 1892. Shortly after, he set up the Wallingford Realty Company to handle all future transactions. Between 1892 and 1904, the company brokered a total of 28 purchases and long-term leases on behalf of Altman, gradually taking control of almost the entire block between 34th and 35th Streets and Madison and Fifth Avenues. By the time construction of the new building began in 1905, there was still one "holdout" building on the corner of 34th Street and Fifth Avenue, occupied by the Knoedler Gallery. Altman would have to wait another five years to acquire that property and expand the store all the way to Madison Avenue. In the meantime, on October 6, 1906 the new store opened for business.
Corner of 35th Street (left) and Fifth Avenue looking SE, 1906. The shorter building to the far right is the "holdout" property at 34th Street and Fifth Avenue. Image: LOC |
Corner of Fifth Avenue (left) and 34th Street (right), just after the building's addition along Madison Avenue, about 1915. Image: MCNY |
Interior of the B. Altman arcade, 1908 Image: NYPL |
B. Altman & Co. was primarily known for catering to a well-off female customer. One who could spend hours looking at furs:
Selling floor for furs, 1914. Image: NYPL |
Page from the B. Altman & Co. 1913 Summer Apparel catalog. Image: Duke University |
Page from the B. Altman & Co. 1913 Summer Apparel catalog. Image: Duke University |
After several more successful decades, the Altman company was forced to sell the store to the L.J. Hooker Retail Group in 1985 and close the building in 1989. Today, the building is primarily occupied by City University of New York (CUNY) Graduate Center, and the NYPL Science, Industry, and Business Library (SIBL), but from the outside it still looks like a palace of trade.
Other Sources:
-Altman Company Department Store Building, 335-371 Fifth Avenue. Landmarks Preservation Commission, March 12, 1985; designation list 176, LP-1274
-Bruce, John S. Jr. 100 The First Century: A History of B. Altman & Co.
-Hendrickson, Robert. The Grand Emporiums: The Illustrated History of America's Great Department Stores.
-Zola, Emile. The Ladies' Paradise.
-Department Store museum website
1 comments :
I work at the Graduate Center and sometimes I forget or take for granted how beautiful the building is. Thank you for this post!
Mel
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