REAL ESTATE: Beauty Treatment

The shabbiest street in midtown Manhattan is the Avenue of the Americas, still known to Manhattanites by its old name, Sixth Avenue. Its hole-in-the-wall souvenir shops, cut-rate stores, bars, and delicatessens sprawl in an incongruous line between the luxury of Fifth Avenue and the tinsel of Broadway. But last week Sixth Avenue made an appointment for a beauty treatment. Real Estate Men Peter B. Ruffin and John Galbreath, who built Manhattan's 45-story new Socony Mobil Building (TIME, Oct. 1), announced plans for a 60-story, $50 million to $60 million stainless-steel-sheathed skyscraper, with the most floor space of any postwar U.S....

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