New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-06
THE WEEK IN REALTY
The Business and Residential More
nlentS in the Central Sections.

While no new movements were revealed, The
.aS' week was not barren Of some pleasing and
important operations One OF the larger Of these
Transactions was the sale Of No. TO East Tween
fy-eghth-st-. by E. A Turner for Potter E. raro
10 L. George Forgotston, who will build on the
site a. twelve and q half story hotel which fact
was reported in this newspaper some DAYS ago
ms Is one OF series Of similar projects which
VIII in a large measure result in o,eear,-ire 81.
residential character Of the streets north of 1ar
y-thlro-st and east Of FIfth-ave. 10 Madfson-a,-e
Jew years ago il seemed that it would not be
long before business houses were firmly intrepcbed
IN this section, for the business area Of F7fbave
from Washington Square TO F'iftv-nirtret ~
growing rapidly, and indications were that II yss
likely TO change many dwelling houses fronting in
streets INTO business buildings. This expected de-
Telorment however not to be- at least not
loF many years The business and the residential
movements in the central sections of the city are
now well defined save in the district in which the
Pennsylvania union terminal station is to be built
The business movement takes in the east and
vest sides Of Fifth-ave, except in some parts Of
me avenue where the owners Of choice residential
property have made a firm stand against the en-
croachment Of trade. It extends westward from
II Ith-aye.. especially between Fourteenth and
rhirty-fourth SITS, while the residential movement
IS almost confined TO the streets from third
and Ihirty-fourth SITS. east Of Fifth-ave between
titIh and Madison aves. The characte, Of the
residential movement is apartment and transient
hotels and the plans for such hotels in the section
'--~-I ak wei ulCer way appear to be sufficient
barrier 70 trade for many years
HOTELS HELP BUSINESS HOUSES.
The business houses in the FYfth-ave district
contiguous 10 this hotel section should ind their
trade considerably increased by the OCCUPANTS Of
the hotels. whose numbers should be many thou
kancs, provided the hotel movement continues in
The streets west Of fth-aTe ana north of Fo1T
- C,st; 70 lnlrty-fourth-st-. Well suited for
ts erecu9n Of loft and some other types OF bust
M NUMBER OF Such structures
Sle = growing slowly but it is likely TO be con-
.rS;t1S4S increased better building
Estges conditions prevail and the building loan
business buildings as il is practicalv Ta1f oF The
steat shopping section Of Sixth-ave and the ask
Dishes e 1fT g-os IN The streets is attractive 10
Present signs do not indicate the probable fDt.,re
character OF the section which has been ava keneI
from a long slumber by the Pennsylvania tunnel
y Transient hotels on the south ana north eidCs
ana The bngir- ~ , Ii19 SeEfnth 70 Ninth ayes,
,IhTtieJh 10 Thirty-fourth sts between sixth and
The. demand for high class dwelling houses e
-; es1eF aLo inc prospect for near awaken
Cheerful The best dwelling house tran5aeiidn NOR Gf
me week IN N flIth-aTe section the sale of
for the }. @. wallace Company to Andrew " Pose
1S ;tb tbe' l aiG Giaer persons iden
its departure, the present year has been such
rosed. Bv large degree. the volume OF bI:sneESs
transacted IN the year 9oes not measure up that
year exees thar Of 1902 For instance, tho number
- buiiqnEs PROJECTED ~ AaItAat1an and The Bronx
for the corresponding period OF last year and this
increase is likely to be maintained until the end
- the year.
REALTY PAPERS OPINION.
The Real Estate Record and Guide" says in
part ir its last issue in regard 10 the zeal estate
situation:
The developments in the real estate market in
the last week have tenGcd confirm the impress
sion that whatever fault there is to find with the
business at the present Tins the prospects for an
Improvement IN the spring are becoming steadily
better one by one the labor difficulties being
removed. An arrangement has bean reached
whereby work be resumed two big jobs,
viz. the Belmont Hotel and the Barclay Building.
and one good result Of this arrangement apparently
IS that the American Bridge Company has worked
out method of organization whereby il cooper
Rtes with the EMPLOYERS Association IN this city
and with the International Union OF IronWOrl.ers
elsewhere. The LEGAL Union No. . is cor sideriHg
the inevitable step - breaking up and joining in
dvidually the Housesmiths' Union II looks
consequently. as II preparations could be made
toward the beginning Of and large buildings