The fabulous transformation of Flatiron and Fifth.

In the mid-19th Century, Fifth Avenue from Washington square to 14th Street was a rich and elegant residential neighborhood. The homes were large and free-standing, with yards and gardens, and barns for the horses which drew family carriages, and sheds for the carriages - a luxury of space not known today.

Above 14th Street, there was the Avenue up to 23rd Street and nothing else - city-owned land which was rented out for farms and pasture. Nowadays, as this area goes through a third rebirth, Pier 1 Imports is at 71 Fifth and Vidal Sassoon Hair Salon is at #90. The addresses between 15th and 16th Streets are: #73, Au Bon Pain; #79, Cosmetics Plus; #100, bebe, inc.; #104, Joan & David; and #108 Paul Smith's Men's Wear. Between 16th and 17th streets, one finds #85, Aeropostale, which is under construction; #89, Banana Republic; #91, J. Crew; #95, Kenneth Cole Shoes; #110, Emporio Armani; #122, The Gap Kids; and #126, The Gap.

Along Fifth Avenue from 17th to 18th streets, there are: #101, Zara, the newest arrival; #103, Eileen Fisher; #130, The Limited Express; and #140, Aveda. At #105, Barnes & Noble has always been there, it seems.

The area gradually evolved during the early 19th Century from farm to elegant residential. Later on, businesses and retail replaced residences.

In the 1880's, the area between 18th and 20th streets was home to #150 Fifth Avenue, built in 1888, which was the headquarters of the Methodist Church in New York and the Methodist Book Concern. No. 156 was the former Presbyterian Building, built in 1894. Look at the tops of these buildings; they still have their crosses. In fact, there were so many publishers of religious material in that area at that time it became known as "Pater Noster Row." Along the Row today is #111, Daffy's; #115, Nine West, Enzo Angolini and Victoria's Secret, on the former site of Lord & Taylor. No. 146, Warehouse Clothing, is from London. At the home of the Methodists, #150. there are Skechers and Lenscrafters. Country Road from Australia is in the Presbyterian building, and at #160 is Club Monaco, from Canada.

On the next block, there is #135, The Body Shop, and #137, Otto Tootsi Plohound Shoes.

On the corner of 21st Street and Fifth is #149, Ann Taylor. Beyond that is where Broadway starts to cross Fifth, and #161, Restoration Hardware, which was the Glenham Hotel, built in 1861. It has the advantage of having a dual frontage on Fifth and Broadway. The Glenham was there when the Flatiron Building went up in 1902, the first true skyscraper. Originally known as the Fuller Building, it was erected to fit the triangle made by the crossing avenues and sort of looks like a flat iron in shape, hence the nickname which stuck: It is now officially "The Flatiron Building."

Across from the Flatiron is file reason this area came into being in the first place: Madison square. First a marsh, then a potter's field, after that a military outpost and a reformatory, before it became a park in 1844. By the end of the Civil War, as the city grew gradually northward, Madison square became the address at which to live. Retail followed residence up the Avenue. Shopping on Fifth Avenue was born.

However, when the homes moved northward, the shops did too. Lower Fifth Avenue was forgotten. Until recently - about five years ago - when this part of the Avenue underwent a rebirth, attracting new and exciting stores. Paul Smith and Daffy's were the first. Then there was a lull. But now, interest in new retail space in the area is increasing, it seems, week by week. The third rebirth doesn't show signs of letting up. The Flatiron area is becoming truly fabulous.

(Garrick-Aug's Faith Hope Consolo can now be seen on the Internet, including the popular retail column "The Faith Report" and listings with color photographs of store-front - and recent news articles on the retail market. Her home page is http://www.faith-consolo.com; her e-mail address is [e-mail].)