Million Dollar Corner

The Million Dollar Corner on the day of sale, December 6, 1911
Another view

The Million Dollar Corner is a small plot adjacent to Macy's at 34th Street and Broadway in New York City which sold for a then record million dollars on December 6, 1911.[1]

The five-story building on that corner had been purchased by Robert H. Smith in 1900 for $375,000—an enormous sum at the time, equivalent to $10.7 million in 2016. The idea had been to obstruct Macy's from becoming the largest store in the world. It is largely supposed that Smith, who was a neighbor of the Macy's store on 14th Street, was acting on behalf of Siegel-Cooper, which had built what they thought was the world's largest store on Sixth Avenue in 1896. Macy's ignored the tactic and built around the building, which now carries Macy's "shopping bag" sign (proclaiming Macy's the "world's largest store") by lease arrangement.[2]

See also

Wikimedia Commons has media related to Million Dollar Corner (New York City).

References

  1. ↑ "THE REAL ESTATE FIELD; $1,000,000 Paid for Small Broadway and 34th Street Corner". The New York Times. December 7, 1911. ISSN 0362-4331. OCLC 1645522. Retrieved April 28, 2012.
  2. ↑ White, Norval & Willensky, Elliot (2000). AIA Guide to New York City (4th ed.). New York: Three Rivers Press. ISBN 0812931076., pp.225-226

Coordinates: 40°45′0.55″N 73°59′17.3″W / 40.7501528°N 73.988139°W / 40.7501528; -73.988139


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