New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-06-26
THE \ WEEK IN REALTY.
ActiUity IN Vest Thrty-fourth-st. a
Feature of TradiRg.

Feature of Trading.
The feature Of last week was The sale Of Nos 20
and 81 West Thirtyfourth-st by Ra=ad 4. Macdonald
& Co. for Francis X Pendleton North River
Savings Bank. As reported Tribune sorne days
ago. the bank VIII build house for occupancy
on one OF the plots loft
and store building. TIE property Nos u Vest
Thirty fourthst Is four dwelling houses each
a lot 25x3s feet.
IN the last few in Thirty-fourth ST. BE
tween Fifth and Sixth ayes. rapidly. at
rate even equal that many PARTS Of the central
F1fth-ave- district. q year and a half che
Thirty-foUrth Street Bank paid West Thirty
fourthst. 25X1oo feet. S155ooO % about
$1,000 front foot. For Nos. - 81 West Thirty
fourth-sr. the North Savings paid S4g3o0u
I or $1,000 front foot II a year from parcels
Thirty fourth St between Fifth and Sixth aves sold at
$4,000 front foot would the much surprise
Thirty fourth-sr. is indeed oldest thorough
fares of the ely Il also OF the widest. and for
considerable distance delightfully."- Many
things nave given a life in a real sense
Ana what profitable days to scores OF realty operators
investors ana business houses with the
awakening the rebuilding Of street section OF
the city The remnants u Thirty ourthst OF the years
which erection the ~ T. Stewart home
and brownsjOne houses fast being
wiped the buried there is another
modern loft building another up date baa@
building apartment house hotel fronting in the
thoroushfsre It IS only matter Of short time before
there VIII old bownstone landmarks in the street
tyfourthst entrance to The Pennsylvania tunnel ter
fourHt 6stTeen Ffth ana sixth avss? The re
the PENNSYLVANIA tunnel projects Ueie assured Even
signs Of new reality 5s t5-re that clearly indicated
who foresaw then what b. the future u the
pafis1ca wa" M 1 Slgy 'f1e d ans 5S ar his ne s
mems The natural suabeness OF the Jhorouafare for
and banking institutions Is what in part wrought Tie
man5 hotel ana retail business section Better traffic
facilities were anothe- important factor
central FIftH-are section begins about Twenty
ana exte.IS al present t % -o'lI LII I5
~ - .4.L likely tnIl us nlIlA 'iAs WI mo- {ri
nile long IN .ea9 ~ Sens, te more than mile it IS
iar 10 presume NAT me present P2IulaIl! ~
ana choice re-al business section would be- M loy fr
the proposed hotels and business houses for the
the avenue.
THIRTY FovRTH-sr. NEW THoRoUGHFARE-
When person talks Of the new Thirry-fourth-ss- it
strange FOR the usually with It rhe
idea = removed from the business or
socla. centres q The city hardly inch OF
Thirty qurths. Fifth TO sixth ayes which IS not
tho street contains some vacant parcels Waiting 70 2e I'M
lacie property northeast c1rne~ or Thirty-
f7urth-st and szth-ave That property and an adJol3
Ing parcel which forms part OF what IS eonmonIy
esIea me -il Hr7i..Tay pei. i,-e 81 q, ,5 &
5e sI1' llil.-n 1''las an t, ny 5e- is lIncs
being 3ercted The sale and or The ola Broad
Taheraaci- lot ia the last few wears would u seI-
SH" ' ~ S 'le 49, Ia, ' ~ r1e TX included
.r me Inc .5l ,.l rs-r-- o---s-v IN f4r--a1
= s4. ---r-- 81 $50
between second an Third ayes Tie s@n's 9r7se-. re-
sea -esat The .azt side II ne rs- ne $50 ~ when
Tl-- - t-rnrn.-s r. a client II the Book bounded by
RI rl ana PARK ayes hundred znd-e.siry e.shta
ana orshuHdre and sh5y ninth si5 The re- n n To
tai property the southeast corner ~ and
Pa Pa eye b. .s7aaat@ %aeh gl gsG Oh '' '
REALTY rArER's OPINION
The Real Estate Record Guide article about
renting says part 3 ia last issue.
Is ezraoranay bow the renting situation in
particular class ~ property changes IN ~ oE
Up 90 1883 ,aere had been .lrBe number OF .La m -
erected or yrrs, -i,a-sa we're vsrv poorly rented
o5-- 5-5 ~ ri 80, ' s,,-. IN -Ie arar-al iitrt-r
by making nesesslry use OF n ore space gy ge-roFe
tan u4urrs broke corporations and br the many
ttras ana Hhieh estaJlis6eI Offices in New York. Tho
consequence not merely Thar plane were .aisa5sy
arcoruo7u. that tire owners ~ the best situated
among -zstsu- buildings were enabled 20 raise ther
I ,-s5,erty - 5lv adjoining property al A high
Ill'.ss ne me- result was t11s IN ttree years t,y
even the demand was NOT n'ueA more taaIi
UP last spring th'fs NaT' t-rF t-W 1ess .-t
opened ,or ss;Ii'' a sacsennE Of general business
5t ~, lg, g'g and o-.y situated buildings ess occupied
aJed buildings have not suffered nuch as yet for IN
many sS1e7 os sy At ra ans but 9 ha; a tne sS
fs1r va,anc.es several large buildings IN
probable that FOR several
years theirs enough Offices 70 around
% cxuected however thar VIII suffer
any pprociable decrease that property values IN the
NnauriaI district will receIo. experience has
ryn plainly tha. well situated part OF the
tv mas exceedingly and its value VIII
character monopoly value
increases in space obtsiue! by taking In the
onir, building area by ths
area Broadway For the next Few wears however
wiz be confined 70 extremely well STU
ates 1i1t4 and such Boree Building, tho
back Of the camne7c,a! Gable Building. New ara
these improvements undertaken. by speculative
corporations but by very financial institutions.