The Boys from Syracuse

Out of a cubbyhole office in Manhattan last week came news of the biggest deal in theatrical real estate since the purchase of land for the Radio City Music Hall. The deal: Shubert Brothers had bought the plot between Manhattan's 44th and 45th Streets—just west of Times Square—on which sit four of the busiest Broadway theaters (the Shubert, Broadhurst, Booth and Plymouth).

For the reported price of $3,500,000, paid to the William Waldorf Astor estate, the Shuberts also got famed "Shubert Alley," the narrow thoroughfare through the block, in which Lee Shubert's big...

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