{"id":6909191913631,"title":"Alexander's Department Stores, Inc.","handle":"alexanders-department-stores-inc","description":"\u003cmeta charset=\"utf-8\"\u003e\n\u003ch5\u003eProduct Details\u003c\/h5\u003e\n\u003cp\u003eBeautifully engraved antique specimen stock certificate from Alexander's Department Stores, Inc. dating back to the 1940's. This document, which carries the printed signatures of the company President and Secretary, was printed by the Hamilton Bank Note Company, and measures approximately 12\" (w) by 8\" (h).\u003cbr\u003e\u003cbr\u003eThis certificate's great vignette features  Alexander's Fordham Road store front in the Bronx, New York.\u003c\/p\u003e\n\u003ch5 style=\"text-align: left;\"\u003eImages\u003c\/h5\u003e\n\u003cp style=\"text-align: left;\"\u003eYou will receive the exact certificate pictured.\u003c\/p\u003e\n\u003cul\u003e\u003c\/ul\u003e\n\u003ch5\u003e\u003cspan\u003eHistorical Context\u003c\/span\u003e\u003c\/h5\u003e\n\u003cdiv style=\"text-align: center;\"\u003e\u003cimg style=\"margin-bottom: 10px; float: none;\" src=\"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/files\/Alexanders.png?v=1625331624\"\u003e\u003c\/div\u003e\n\u003cbr\u003e\u003chr\u003eIn 1928, George Farkas, a \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/brooklyn-new-york\"\u003e\u003cstrong\u003eBrooklyn\u003c\/strong\u003e\u003c\/a\u003e native, opened a store on Third Avenue in the \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/the-bronx-new-york\"\u003e\u003cstrong\u003eBronx\u003c\/strong\u003e\u003c\/a\u003e with $7,500 and named it for his deceased father, Alexander. Catering to the well-to-do middle class, the store offered discounted designer \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/textiles-clothing\"\u003e\u003cstrong\u003eclothing\u003c\/strong\u003e\u003c\/a\u003e and high-quality private label goods. Its advertising slogan at one time was \"You'll find Alexander's has what you're looking for; how lucky can you get?!\"\u003cbr\u003e\u003cbr\u003eThe chain thrived even during the Great Depression, and opened a location on Fordham Road and the Grand Concourse in The Bronx in 1933. At its heyday in the 1930s, this store was known for its discount bargains and had more sales per square foot than any other store in the United States.\u003cbr\u003e\u003cbr\u003eFarkas was known for being a master at selecting locations for his stores, buying instead of leasing the \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/real-estate-land-development\"\u003e\u003cstrong\u003ereal estate\u003c\/strong\u003e\u003c\/a\u003e they were established on.\u003cbr\u003e\u003cbr\u003eIn February 1959, the company opened a store in Rego Park, \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/queens-new-york\"\u003e\u003cstrong\u003eQueens.\u003c\/strong\u003e\u003c\/a\u003e\u003cbr\u003e\u003cbr\u003eIn 1963, the company opened its flagship store on 59th street in \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/manhattan-new-york\"\u003e\u003cstrong\u003eManhattan\u003c\/strong\u003e\u003c\/a\u003e after it bought the land from a company controlled by Joseph P. Kennedy Sr. for what seemed like a high price of $125 per square foot.\u003cbr\u003e\u003cbr\u003eIn December 1968, Alexander's became a public company via an initial public offering, raising $41.17 million, in part to prevent a takeover from competitor \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/korvettes\"\u003e\u003cstrong\u003eE. J. Korvette\u003c\/strong\u003e\u003c\/a\u003e. Founder George Farkas retired that year due to failing health and one of his sons, Alexander S. Farkas, became CEO.\u003cbr\u003e\u003cbr\u003eIn the 1970s, customers defected to larger competitors such as \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/r-h-macy-co\"\u003e\u003cstrong\u003eMacy's\u003c\/strong\u003e\u003c\/a\u003e and Bloomingdale's, and discount stores such as \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/kmart\"\u003e\u003cstrong\u003eKmart\u003c\/strong\u003e\u003c\/a\u003e.\u003cbr\u003e\u003cbr\u003eUpon completion of The Mall at the World Trade Center in 1974, Alexander's became its anchor store. The location occupied roughly 1\/6 of the WTC's 500,000 square foot mall, the largest in New York City, and was located underneath 4 World Trade Center, immediately to the east of the south tower.\u003cbr\u003e\u003cbr\u003eIn 1980, after a proxy fight, Interstate Properties, controlled by Steven Roth, took control of the company, seeking to maximize the value of its real estate.\u003cbr\u003e\u003cbr\u003eIn 1981, management attempted to expand offerings beyond leisure apparel.\u003cbr\u003e\u003cbr\u003eIn 1984 at the request of Interstate Properties, then holding a 13% stake, Alexander Farkas resigned as CEO and was succeeded by his brother, Robin (1933-2018).\u003cbr\u003e\u003cbr\u003eIn 1986, \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/donald-j-trump\"\u003e\u003cstrong\u003eDonald Trump\u003c\/strong\u003e\u003c\/a\u003e bought approximately 20% of the company.\u003cbr\u003e\u003cbr\u003e1987 was the last year in which the company made a profit from its \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/retail-mail-order\"\u003e\u003cstrong\u003eretail operations\u003c\/strong\u003e\u003c\/a\u003e.\u003cbr\u003e\u003cbr\u003eIn 1988, Interstate and Trump each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for a personal loan from Citibank, and in 1991 was forced to turn over his holdings to the guarantor.\u003cbr\u003e\u003cbr\u003eIn 1992, Roth and creditors forced the company into bankruptcy and the company shut all 11 stores on May 15, 1992, laying off 5,000 people. The bankruptcy was also triggered by a put option Gruss family held to sell its 18% interest in the partnership that owned the 59th street store to Alexander's for $35 million and the company did not have the money.\u003cbr\u003e\u003cbr\u003eIn 1993, the company emerged from bankruptcy. The combination of an increase in value in its real estate holdings and shedding of its liabilities caused its stock to skyrocket from $8.50 per share before it declared bankruptcy to $57 per share a year later.\u003cbr\u003e\u003cbr\u003eIn 1995, Vornado Realty Trust bought the interest from Citicorp (formerly owned by Donald Trump) for $54.8 million.\u003cbr\u003e\u003cbr\u003eIn November 2012, the company sold the Kings Plaza mall in Brooklyn to Macerich for $751 million and used the proceeds to pay a $122 per share dividend to stockholders.\u003cbr\u003e","published_at":"2021-07-03T13:18:10-04:00","created_at":"2021-07-03T12:40:06-04:00","vendor":"Ghosts of Wall Street","type":"Stock Certificates","tags":["1940s","Alexanders","Bronx","Brooklyn","Date_1940s","Department Stores","Famous Companies","Manhattan","New Jersey","New York","New York City","Price_$50 - $99.99","Queens","Region_East","Retail \u0026 Mail Order","Specimens","Trump"],"price":6500,"price_min":6500,"price_max":6500,"available":true,"price_varies":false,"compare_at_price":null,"compare_at_price_min":0,"compare_at_price_max":0,"compare_at_price_varies":false,"variants":[{"id":40449704493215,"title":"Brown (Various Shares)","option1":"Brown (Various Shares)","option2":null,"option3":null,"sku":"8559br","requires_shipping":true,"taxable":true,"featured_image":{"id":29770925080735,"product_id":6909191913631,"position":1,"created_at":"2021-07-03T13:01:57-04:00","updated_at":"2021-07-03T13:02:21-04:00","alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","width":1550,"height":1043,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559br.png?v=1625331741","variant_ids":[40449704493215]},"available":true,"name":"Alexander's Department Stores, Inc. - Brown (Various Shares)","public_title":"Brown (Various Shares)","options":["Brown (Various Shares)"],"price":6500,"weight":7,"compare_at_price":null,"inventory_management":"shopify","barcode":"","featured_media":{"alt":"Alexander's Department Stores, Inc. 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Specimen Stock Certificate","width":1550,"height":1043,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559or.png?v=1625331754","variant_ids":[40449704525983]},"available":true,"name":"Alexander's Department Stores, Inc. - Orange (Less than 100 Shares)","public_title":"Orange (Less than 100 Shares)","options":["Orange (Less than 100 Shares)"],"price":6500,"weight":7,"compare_at_price":null,"inventory_management":"shopify","barcode":"","featured_media":{"alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","id":22152452997279,"position":3,"preview_image":{"aspect_ratio":1.486,"height":1043,"width":1550,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559or.png?v=1625331717"}},"requires_selling_plan":false,"selling_plan_allocations":[]}],"images":["\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559br.png?v=1625331741","\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559brvign.png?v=1625331747","\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559or.png?v=1625331754","\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559orvign.png?v=1625331760"],"featured_image":"\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559br.png?v=1625331741","options":["Color"],"media":[{"alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","id":22152452931743,"position":1,"preview_image":{"aspect_ratio":1.486,"height":1043,"width":1550,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559br.png?v=1625331717"},"aspect_ratio":1.486,"height":1043,"media_type":"image","src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559br.png?v=1625331717","width":1550},{"alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","id":22152452964511,"position":2,"preview_image":{"aspect_ratio":1.866,"height":818,"width":1526,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559brvign.png?v=1625331717"},"aspect_ratio":1.866,"height":818,"media_type":"image","src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559brvign.png?v=1625331717","width":1526},{"alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","id":22152452997279,"position":3,"preview_image":{"aspect_ratio":1.486,"height":1043,"width":1550,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559or.png?v=1625331717"},"aspect_ratio":1.486,"height":1043,"media_type":"image","src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559or.png?v=1625331717","width":1550},{"alt":"Alexander's Department Stores, Inc. Specimen Stock Certificate","id":22152453030047,"position":4,"preview_image":{"aspect_ratio":1.866,"height":818,"width":1526,"src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559orvign.png?v=1625331717"},"aspect_ratio":1.866,"height":818,"media_type":"image","src":"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/products\/8559orvign.png?v=1625331717","width":1526}],"requires_selling_plan":false,"selling_plan_groups":[],"content":"\u003cmeta charset=\"utf-8\"\u003e\n\u003ch5\u003eProduct Details\u003c\/h5\u003e\n\u003cp\u003eBeautifully engraved antique specimen stock certificate from Alexander's Department Stores, Inc. dating back to the 1940's. This document, which carries the printed signatures of the company President and Secretary, was printed by the Hamilton Bank Note Company, and measures approximately 12\" (w) by 8\" (h).\u003cbr\u003e\u003cbr\u003eThis certificate's great vignette features  Alexander's Fordham Road store front in the Bronx, New York.\u003c\/p\u003e\n\u003ch5 style=\"text-align: left;\"\u003eImages\u003c\/h5\u003e\n\u003cp style=\"text-align: left;\"\u003eYou will receive the exact certificate pictured.\u003c\/p\u003e\n\u003cul\u003e\u003c\/ul\u003e\n\u003ch5\u003e\u003cspan\u003eHistorical Context\u003c\/span\u003e\u003c\/h5\u003e\n\u003cdiv style=\"text-align: center;\"\u003e\u003cimg style=\"margin-bottom: 10px; float: none;\" src=\"https:\/\/cdn.shopify.com\/s\/files\/1\/0055\/6253\/1904\/files\/Alexanders.png?v=1625331624\"\u003e\u003c\/div\u003e\n\u003cbr\u003e\u003chr\u003eIn 1928, George Farkas, a \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/brooklyn-new-york\"\u003e\u003cstrong\u003eBrooklyn\u003c\/strong\u003e\u003c\/a\u003e native, opened a store on Third Avenue in the \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/the-bronx-new-york\"\u003e\u003cstrong\u003eBronx\u003c\/strong\u003e\u003c\/a\u003e with $7,500 and named it for his deceased father, Alexander. Catering to the well-to-do middle class, the store offered discounted designer \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/textiles-clothing\"\u003e\u003cstrong\u003eclothing\u003c\/strong\u003e\u003c\/a\u003e and high-quality private label goods. Its advertising slogan at one time was \"You'll find Alexander's has what you're looking for; how lucky can you get?!\"\u003cbr\u003e\u003cbr\u003eThe chain thrived even during the Great Depression, and opened a location on Fordham Road and the Grand Concourse in The Bronx in 1933. At its heyday in the 1930s, this store was known for its discount bargains and had more sales per square foot than any other store in the United States.\u003cbr\u003e\u003cbr\u003eFarkas was known for being a master at selecting locations for his stores, buying instead of leasing the \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/real-estate-land-development\"\u003e\u003cstrong\u003ereal estate\u003c\/strong\u003e\u003c\/a\u003e they were established on.\u003cbr\u003e\u003cbr\u003eIn February 1959, the company opened a store in Rego Park, \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/queens-new-york\"\u003e\u003cstrong\u003eQueens.\u003c\/strong\u003e\u003c\/a\u003e\u003cbr\u003e\u003cbr\u003eIn 1963, the company opened its flagship store on 59th street in \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/manhattan-new-york\"\u003e\u003cstrong\u003eManhattan\u003c\/strong\u003e\u003c\/a\u003e after it bought the land from a company controlled by Joseph P. Kennedy Sr. for what seemed like a high price of $125 per square foot.\u003cbr\u003e\u003cbr\u003eIn December 1968, Alexander's became a public company via an initial public offering, raising $41.17 million, in part to prevent a takeover from competitor \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/korvettes\"\u003e\u003cstrong\u003eE. J. Korvette\u003c\/strong\u003e\u003c\/a\u003e. Founder George Farkas retired that year due to failing health and one of his sons, Alexander S. Farkas, became CEO.\u003cbr\u003e\u003cbr\u003eIn the 1970s, customers defected to larger competitors such as \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/r-h-macy-co\"\u003e\u003cstrong\u003eMacy's\u003c\/strong\u003e\u003c\/a\u003e and Bloomingdale's, and discount stores such as \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/kmart\"\u003e\u003cstrong\u003eKmart\u003c\/strong\u003e\u003c\/a\u003e.\u003cbr\u003e\u003cbr\u003eUpon completion of The Mall at the World Trade Center in 1974, Alexander's became its anchor store. The location occupied roughly 1\/6 of the WTC's 500,000 square foot mall, the largest in New York City, and was located underneath 4 World Trade Center, immediately to the east of the south tower.\u003cbr\u003e\u003cbr\u003eIn 1980, after a proxy fight, Interstate Properties, controlled by Steven Roth, took control of the company, seeking to maximize the value of its real estate.\u003cbr\u003e\u003cbr\u003eIn 1981, management attempted to expand offerings beyond leisure apparel.\u003cbr\u003e\u003cbr\u003eIn 1984 at the request of Interstate Properties, then holding a 13% stake, Alexander Farkas resigned as CEO and was succeeded by his brother, Robin (1933-2018).\u003cbr\u003e\u003cbr\u003eIn 1986, \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/donald-j-trump\"\u003e\u003cstrong\u003eDonald Trump\u003c\/strong\u003e\u003c\/a\u003e bought approximately 20% of the company.\u003cbr\u003e\u003cbr\u003e1987 was the last year in which the company made a profit from its \u003ca href=\"https:\/\/ghostsofwallstreet.com\/collections\/retail-mail-order\"\u003e\u003cstrong\u003eretail operations\u003c\/strong\u003e\u003c\/a\u003e.\u003cbr\u003e\u003cbr\u003eIn 1988, Interstate and Trump each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for a personal loan from Citibank, and in 1991 was forced to turn over his holdings to the guarantor.\u003cbr\u003e\u003cbr\u003eIn 1992, Roth and creditors forced the company into bankruptcy and the company shut all 11 stores on May 15, 1992, laying off 5,000 people. The bankruptcy was also triggered by a put option Gruss family held to sell its 18% interest in the partnership that owned the 59th street store to Alexander's for $35 million and the company did not have the money.\u003cbr\u003e\u003cbr\u003eIn 1993, the company emerged from bankruptcy. The combination of an increase in value in its real estate holdings and shedding of its liabilities caused its stock to skyrocket from $8.50 per share before it declared bankruptcy to $57 per share a year later.\u003cbr\u003e\u003cbr\u003eIn 1995, Vornado Realty Trust bought the interest from Citicorp (formerly owned by Donald Trump) for $54.8 million.\u003cbr\u003e\u003cbr\u003eIn November 2012, the company sold the Kings Plaza mall in Brooklyn to Macerich for $751 million and used the proceeds to pay a $122 per share dividend to stockholders.\u003cbr\u003e"}

Alexander's Department Stores, Inc.

$65.00
Maximum quantity available reached.
Stock Number: 8559br
Product Details

Beautifully engraved antique specimen stock certificate from Alexander's Department Stores, Inc. dating back to the 1940's. This document, which carries the printed signatures of the company President and Secretary, was printed by the Hamilton Bank Note Company, and measures approximately 12" (w) by 8" (h).

This certificate's great vignette features  Alexander's Fordham Road store front in the Bronx, New York.

Images

You will receive the exact certificate pictured.

    Historical Context


    In 1928, George Farkas, a Brooklyn native, opened a store on Third Avenue in the Bronx with $7,500 and named it for his deceased father, Alexander. Catering to the well-to-do middle class, the store offered discounted designer clothing and high-quality private label goods. Its advertising slogan at one time was "You'll find Alexander's has what you're looking for; how lucky can you get?!"

    The chain thrived even during the Great Depression, and opened a location on Fordham Road and the Grand Concourse in The Bronx in 1933. At its heyday in the 1930s, this store was known for its discount bargains and had more sales per square foot than any other store in the United States.

    Farkas was known for being a master at selecting locations for his stores, buying instead of leasing the real estate they were established on.

    In February 1959, the company opened a store in Rego Park, Queens.

    In 1963, the company opened its flagship store on 59th street in Manhattan after it bought the land from a company controlled by Joseph P. Kennedy Sr. for what seemed like a high price of $125 per square foot.

    In December 1968, Alexander's became a public company via an initial public offering, raising $41.17 million, in part to prevent a takeover from competitor E. J. Korvette. Founder George Farkas retired that year due to failing health and one of his sons, Alexander S. Farkas, became CEO.

    In the 1970s, customers defected to larger competitors such as Macy's and Bloomingdale's, and discount stores such as Kmart.

    Upon completion of The Mall at the World Trade Center in 1974, Alexander's became its anchor store. The location occupied roughly 1/6 of the WTC's 500,000 square foot mall, the largest in New York City, and was located underneath 4 World Trade Center, immediately to the east of the south tower.

    In 1980, after a proxy fight, Interstate Properties, controlled by Steven Roth, took control of the company, seeking to maximize the value of its real estate.

    In 1981, management attempted to expand offerings beyond leisure apparel.

    In 1984 at the request of Interstate Properties, then holding a 13% stake, Alexander Farkas resigned as CEO and was succeeded by his brother, Robin (1933-2018).

    In 1986, Donald Trump bought approximately 20% of the company.

    1987 was the last year in which the company made a profit from its retail operations.

    In 1988, Interstate and Trump each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for a personal loan from Citibank, and in 1991 was forced to turn over his holdings to the guarantor.

    In 1992, Roth and creditors forced the company into bankruptcy and the company shut all 11 stores on May 15, 1992, laying off 5,000 people. The bankruptcy was also triggered by a put option Gruss family held to sell its 18% interest in the partnership that owned the 59th street store to Alexander's for $35 million and the company did not have the money.

    In 1993, the company emerged from bankruptcy. The combination of an increase in value in its real estate holdings and shedding of its liabilities caused its stock to skyrocket from $8.50 per share before it declared bankruptcy to $57 per share a year later.

    In 1995, Vornado Realty Trust bought the interest from Citicorp (formerly owned by Donald Trump) for $54.8 million.

    In November 2012, the company sold the Kings Plaza mall in Brooklyn to Macerich for $751 million and used the proceeds to pay a $122 per share dividend to stockholders.

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