New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-01-02

The vacancies in the houses led the money lenders
demands for money carry out similar projects in
the newer sections of the city. And as the great
money lending institutions were with ap-
plications for financial assistance for carrying out
larger building projects. the money channels con
tanned little ready money for the speculative build
Building conditions in this city are constantly
changing. and this readjusment of building affairs
usually puts stop TO an overproduction In any
~ slow 10 develop and then there is generally a
lo3g stasnatton of building activity in the section
turned the majority of builders toward the upper
airy. and Inducements TO build homes there were
then more tempting than in the older districts
When this rush in the newer sections well
under way. which was little less than two years
ago little attention was paid to the general pros
and many other business corporations seeking sites
IN the newer districts and titles were passed 50
frequently that only the real estate brokers who
in constant touch with the changes in ownership As
nearly every person identified with the real estate
wonder that builders erected many houses. 1t
%i DE e. MAN. months before 3notheI big building
In the mean time, however. bUiioe.s will idle
For this great reconstruction movement OF the
business centres OF New York is confined 10 any
one district, but includes them all in the streets
between lth and "a streets short distance either
SaSt or west OF Flfth avenue many business houses
2tnfr plots We're purchased by speculative builders
trict In the year, and how good the demand for
such parcels is may be had from the fact that
were leased from the plans before the ground for
About July Of this year William 6 McAdoo, pres
ident of the McAdoo tunnel companies. expected to
have the old Morton street tunnel line operation
ana, II possible. to have trains running between
!4th street. Manhattan, and Hobokcu, Spectators
nave been active in the along the route Of the
McAdoo tunnel and the opening Of the tunnel IS
likely to be followed by building boom in the dis
tricts through which the tunnels extend In the
Pennsylvania tunnel sectiOr. west there
siderable buying in tho year. bJt little building.
The most notable building erected IN that district
in the year was the Manhattan Opera House. Near
the Manhattan Opera House several big hotels Will.
in all probability. be erected l. the future
several companies have alrcNdy procured sites for
such structures. That section OF Seventh avenue
between Long Acre Square and 30 street forms 4
part of this Pennsy lyania tunnel district and a
number of large buildings in of con
StruCtiOD on the avenue.
Some fine sites in the Fifth retail shopping
activity in the district this year will probably be
much greater than in the just ended Values
IN the section still allurnG to the speculative
builder and Spectator, and for that reason they
continue to be prominent there Moreover the
number of sites in that district which for sale
or which can be improved long term leases are
becoming smaller each year. II Is only question
Of few years before business houses desiring
sites In the avenue will either have pay a large
bonus 10 get desirable locations viii have to uuy
up concerns having homes in that section.
The building tables for the last thirty wears shows
that more construction work is done I'm every five
weeks now than In year about thirty years ago
The table follows: