GROWING NEW YORK

Evening Post, Volume CXI, Issue 11, 14 January 1926, Page 5

GROWING NEW YORK

FIFTH AVENUE PALACES PASS.

(UNITED TRESS ASSOCIATION—COPIRIGHT.) (AUSTRALIAN-NEW ZEALAND CABLI ASSOCIATION.) (Received 14th January, 11 a.m.) NEW YORK, 13 th January.

The inexor|lo expansion of .. the city's commerce is raising pjKJperty values to a point where high taxation makes prohibitive the maintenance of large ■private residences in the centre oC the city. Tho formerly exclusive Fifth Avenue is now becoming a solid succession of large shops, hotels, and apartment houses, giving the city's charities an opportunity of profit through small fees for admission, permitting throngs of the curious to inspect the multimillionaires' mansions prior to demolition, 6000 daily passing through. The latest doomed palace, which Cornelius Vanderbilt erected in the IS9o's, said to be the finest private residence in America, was recently sold for 7,100,----000 dollars for a hotel site. Visitors of both sexes and all ages and occupations are deserting tho Broadway showhouses to climb the marble staircases and survey,the famous mirrored ballroom and other splendours in which the Vanderbilts lived and lavishly entertained. The lr.ost frequently-repeated remark is: "It's a fine place, but I wouldn't want to live in it."