The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-11-18
THE REAL ESTATE MARKET.
TWO Rooms ARE UNDER WAY IN
rEE "PENNSYLTANIA SECTION"
OWNS 10 difference OF Opinion as to
whether Thirty-secOnd or Thirty-
four,h street Is to Be the Main shop
ming ThOrOuEhfare Near the station.

ping rOuEhfare Near the station.
An .u,eresting feature of the market
recent y has been the renewal Of specuia-
zion In what is known as the Pennsylvania
distrc The south side Of I hirty-second
street Irtwccn Sixth and Seventh avenues
has been the chief centre of professional
activity although a number Of purchases
have also been made in Seventh avenue
and in ihirty-fourth street. Half a dozen
tansac' ons were put through in the west
erly end 4 the lhirty-second street block
last we"o. and il is rumored that several
other have been practically closed.
The buying in this block started in conse-
ouencc If a report that the plaza Of the
Pennsylvanin terminal il TO cover the
westerly half Of the square bounded by
Thirv-second and lhirty-third streets and
sixth and seventh avenues. including pos
siblv the west side Of Seventh avenue
between 1hirty-frst and Ihirty-second
streets. It was further stimulated by the
fact that the easterly half Of the square
net lhirty-second and lhirty-third
streets is to be occupied by the terminal
station of the Sixth venue spur Of the
McAdoo tunnel. The trolley cars running
t0TOuRu AlAs subway VIII Otlnk dl Lne
railroad ferries on the Jersey shore in direct
connection with the Pennsylvania terminal
at 1hirty-second street.
As the main entrance to the PENNSYLVANIA
depot will be on Seventh avenu facing
Ihi1y-second street. it is believed by many
real estate operators that the latter thor
oughfare will become the main artery Of
travel 10 and from the station. Mean
while tho railroad interests have not made
public the details of their terminal i'm
~provements. The speculation now going
on is. therefore. not founded upon actual
knowledy e of future traffic conditions. but
IA largely a matter Of shrewd guesswork.
Indeed, some T orators are OF the opinion
that the main arter y Of travel will be along
Seventh avenue and Thirty-fourth street.
This view Is supported by the fact that a
four trB ok subway is to be constructed
under Thirty Fourth street, oonnec ting the
East and North rivers. This road is ex-
pected TO tap the Fourth Avenue rarid
transit subway and also the various ele-
waited and surface lines, and will, it il be-
leved, tend to. divert trasio to Thirty
fourth street and Seventh avenue OF
course the generous width of Thi~rty-fourth
street and rre'ent standing of that street
Us an important business and shopping
tnOIpu mare dEC -NTbu HIS duulIlOUaI
arguments in favor Of the theory. Those
who infer that Seventh avenue and Thirty
fourth street are to be the main highways
Of travel are backing up their opinion by
acquiring substantial holdings at record
prices. Not long ago 1888 900 was paid
Tor No. 49, to 437 Seventh avenue and No,
1872 West Thirty-fourth street. The rarcels
form an l. o h southeast corner and
contain about 5 900 square feet. The averag 20
price per square foot was $50. Another
notable deal in the same block was the sale
Of the northeast corner Of Seventh avenue
and Thirtv-third street, including No.
t2i 10 i25 Seventh avenue and No. 1 50 West
Thirty-third street, for SASS 900, or
age Of Sill a square foot.
Prices such a these are justified on the
theory that sites opposite the terminals
will be in demand for tall buildings, par
tiCilarly Office buildings. The new post
of.ce between Eighth and Ninth avenue s
and Thirty-first and Thirty second streets
y counted on TO attract a numerous class of
tenants, and 1t Is assumed that the large
eSpressi companies will require extensive
RccG mmo dations in the vicinity.