Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-20
EFFECTS ON REALTY
BUILDINGS ERECTED FOR STOR-
AGE OF AUTOMOBILES.

| During the last two years the section Of
| Broadway from 47th to 10th street and con-
| tiguous territory in several Of the inter-
| vening streets in New York has become
the automobile center Of the world, &C
| cording to the New York Herald. Here
| garages have been built and others are
| in course Of construction that surpass in
| size and completeness any similar struc-
| lures elsewhere
The automobile business has routed
from this neighborhood the carriage and
wagon manufacturers who long had their
stronghold in the same section. It has
done more than that. It has caused the
improvement Of much vacant property in
that part of Broadway that seemed des-
tined to long lie idle: it has caused land
| values to increase from 20 to 30 per cent
and it has caused many Anticipated struc-
lures to be remodeled and leased as small
garages at largely increased rentals over
what they brought when used for other
purposes.
Many old buildings that could not be made
suitable for garage purposes have had new
| fronts placed in them, and they are rent
| ed as automobile sales and show rooms to
various manufacturers. Some stores that
| less than two years ago were leased as
show rooms to carriage manufacturers are
now leased to dealers in automobile sup
plies.
Effect on Carriage Builders
Carriage manufacturers. who formerly
| held sway in the part Of the city in
| question. are now scattered. Some of them
! have observed the trend Of the times in
| vehicular demand and are manufacturing
automobile tops. French automobile man.
ufacturers may surpass their brethren in
| America in machine perfection, but the
American carriage top makers have cap
tured their end of the business.
Many of the carriage manufacturers
have abolished New York salesrooms en-
| tirely since the great increase in the use
| Of automobiles and sell their product d.
| rect from their factories. There is prob
ably no other line Of business in this city
| a great increase in property values here as
| the automobile business.
| Is automobiling a fad that will eventual
| ly die out? Professional operators and
| owners Of real estate think not. They see
| in garages very good form Of specula-
| ton and investment. One of the most con-
! the Wendell estate. which Is usually loath
to make modern improvements has invest
| ed heavily in garages
| Increase in Buildings.
| Numerous owners Of private stables have
| had them remodeled into private garages
| and have leased them as such at more than
| twice as much as they rented them for as
| stables Nearly all tho large garages that
have been erected cover land that was
previously vacant.
! During the year 1903 only one garage was
erected in this city. at a cost Of $23, 600.
1 It was looked upon reckless expert
| ment. coverings-as 1t does. corner plot
| so Gx32.2 but it has proven otherwise
During 1904 three small garages were built,
| but they were all private ones. at total
| cost Of $4,000
Last year witnessed pronounced waking
| up to garage investment. This was un-
| doubtedly due primarily to the fact that
the fire Insurance companies placed a ban
| on stable or other building being used
as garage for automobiles placed In them
| by their own power. The companies re-
| auired cessation Of power before the ma
| chine entered a building, which required
| the owner to push the machine in by hand.
| The gasoline tank OF machine had to be
| emptied also.
| These were unpleasant as we'll as tedious,
| proceedings. The utility Of fireproof gar
| ages soon became apparent and certain real
| substantial investment in modern properly
| equipped garages.
| Amount Of Money Invested.
1t costs from thirty to fifty dollars q
month to house an automobile in a. modern
| to shelter one In most Instances than 1t
does to board a horse. There IL now space
| in these modern structures in the part Of
the city described in this article sufficient
| to house at least five thousand automobiles.
| In addition to these there are many private
| garages. numerous physicians and wealthy
| men having ~remodeled their stables and
made them sufficiently hreproof to meet
| the dictum OF the insurance companies.
/ Many thousands of dollars have been spent
| in alterations to stables alone.
| Last year eighteen garages were erected
| In the city. at a total estimated cost Of
| 81. 2S7 500. Value of the land is not In
| cluded In the estimate. One OF the struc-
| lures cost $350,OO0. one 100000 and two
$4,000 each. Others ranged in cost from
10000 to $4,000 each. while a few small
| private ones cost from $4,000 to 5000
| each.
This was considered a phenomenal ex-
penditurs for structural Improvement along
novel linesN and yet there was an over
whelming demand for It. It illustrated
more forcfbly than anything else could the
vast increase In the use Of automobiles and
| the importance Of the New York market
4 to both the domestic and foreign manu-
| facturers.
Greater stu. however, has BEEN the in
vestment In garages this year in this city
and moro extensive the construction Of
| them. From January I to date 81, 1874 500
has been expended In their construction
This sum surpasses by $47 ZOO the total
1 cost OF garage construction for the twelve
months of 1908