New-York tribune., 1907-02-17
HIGHER OFFICE RENTALS
Il go PER CENT INCREASE.
Charge for Loft Space Also Greater
than Fire Years Ago.

Ieal estate leaders were comparing yesterday
In downtown real estate office about the rental
conditions on Manhattan Island One of the leaders
owns many Office sky scrapers and a large number
OF modern loft structures Il do not know how we
are going TO find suitable space for all the firms
and individuals who new places of business"
exclaimed this leader. as he held to view a long
list Of rentals he had recently made in various
bulldlnSs. Last year thought would be able
to catch up with the demand for more modern
office buildings and loft and store structures, but 1t
seems to me that we are no nearer to satisfying
these demands than we were a year ago. II any
thing, we are worse off in this respect. Why 1t
was only some months ago that Robert e Bowling
filed plans for the erection of thirty-three-story
Office and store building at Broadway and
| CoTuandt st. at cost Of $3,4OOOOO Then
the work of excavatng the premises No 155 to
l6S Broadway was begun On that site, you know,
the Singer Manufacturing Company Is erecting
forty-one story office building which In height will
overtop the Washington Monument. Moreover, a
twin structure Of the Trinity Building is being built
TO cover the site of the old Boree Building 1t is
cost 100000. At the southeast corner Of Wall
St and Broadway, which is known as the famous
SIliman plot eighteen story brick and stone
Once building is in course Of construction for the
block fronts on the west side Of Church st. from
with twin Office buildings which will be known as
Ihe Cortlandt street tunnel terminal buildings I'm
der the roofs of those two terminal buildings to
ne ne noqsea hundreds OF men engaged in business
SheSyScfapers being built There are many modern
once ana store buildings and scores of fine loft
are ready for occupancy and a long list OF similar
structures to be ready for tenancy IN a year
Yet With all these new buildings to be leased
and which can be rented from the plans many
more office and loft buildings Will have 10 be erect
most Of the demands for more office loft build
ness centre of Manhattan Island the builder was
never buster in his life. II was not so very long
ing boom IN the Fort Washington Heights, the
llyckman and The Bronx districts. We thought
had all the work that he could do. and more too
had then, provided he knows how to build Office
tres Of the city are undergoing wonderful trans
IoLlnatign. IL has been estimated by trathce eX-
carry At least 100000 passengers "A year. A
larger number of passengers year is expected to
nov better known as the McAdoo tunnel route
tween BROOKLYN and Manhattan and Manhattan
routes. As regards the time spent in travelling
psl"ten lne suburban sections and New York
up-to-date travelling facilities viii undoubtedly at
concerns whose plants ar" now lscated near the
ualization Of their showrooms, agency Offices and
viii help their business This centraiization may
Iessen their operating expenses; but even n it does
carried II on along the best lines"
oes What Is the average rental a square foot for
aisgn, ely listened to the realty leader his
About 8 So Tie realty leader quickly replied
.!e yearly rental square foot n
O.. Si.-te may be rented IN some modern office
~, 81 ~ AZ az "oou. 81 - - a square 1907 "A year put
Increased value Of land and tn. cost Of r6nsrir
;.sler today than they We're five years ago BY
foot year the tenant gets free heat electric light
service and he has his once Steamed daii i,a nJ S
a.7' usually gets supply of clean towels once
and holidays Included he is able 70 get to and
from his office quickly AS most modern Office
q
"a, ieil you, ~" present tenants OF the modern
W by; the modern ohlgee buildings are Ike pol
,lr-fo-5atn 0fGa F,ifI,,,s @ III T t, ,,,., d9
water. are absolutely hreprooi. and have am ele-
aoor IN the building quickly and easily The aoor
pans 81 the qld structures apparently met the
i wrtie iar rom being falTly good Most Of the IN
lighted Improperly heated, badly ventilated, III
ot tho modern office buildings great pains are taken
10 make every room light airy and inviting. The
,n on, NV ''S i are 1a'TetiIe ao+ 20 40 business
M @ o'tE IN y",Iiia"ql1tS @ oihGes WIN eEery modern
in the slightest detail and under the health
ful conditions l well remember the nrst office
/ rented for my own use. It was in the Wall Street
section II was small, dingy ONCE. and how
eyer worked IN II Is now mystery to me paid
elevator AZ O'clock each waning tenaDts ,rsrs
some extra chairs for the Office or a desk YOU
any particular day The furniture would be turned
tor. and he might Immediately deliver IT TO you
or walt some days before placing II IN your room.
on the average lanitor or the old modern structure
was the boss Of all he surveyed. He saw TO sup
plying your Office with drinking water, ice 10
mer gas and to the cleaning out OF the office He
attended end & to m many other Of your ar wants want There Tas
YOU lust paid what was demanded Won received m
rired Years ago owning man, 0athouses or other
real estate. There are some office buildings still
this anuquated plan. but YOU can rest as
sured that the offices there not In demand and
that there are usually many vacancies
The tenant OF the present modern Office build
tie building. When he leaves his office for the
day he knows that when he returns the fol-
ing, and he begin new days business with
no worry about trouble with the janitor or any
owing TO the floor plans Of the modern office
buildings you can lease small or large space
have separate entrance doors but there doors
in the partitions dividing the rooms. Suppose q
or INC, year wants more space, II eljher OF the
adjoining offices IS vacant he has only to lease
larger space arc supplied As his business grows
he keep adding to his Office space, and
an unbrokon series Of well lighted, well kept and
steam heated rooms which he styles his office
generally at the same rate as for 300 feet. The
rental for outside Offices Is, Of course, always |
higher than for inside Offices.
begun the practise Of law office 1lxlSX irregular |
feet. He pays S25 n year Tor that office, which /
has two windows overlooking a large interior |
Office and sub-leased one-half the office space to
a business man. SO The Young lawyer now has /
paws about siso year In few Years ~ine" he viii
probably have got a good foothold in his profes-
Office exclusively for his own use"
what about rentals In the loft section" was |