New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-07

IN aeOS over $50 100000 spent IN eonstrncuon
work IN Manhattan and The Bronx Ihat Is inc
largest sum spent IN year Tor builoins IN tIOo
borcughs Il was the year In which inc S"o"as
was opened. ana as the subway mace many VI .i0
I,pper sections OF the city more accessible 10 l7
city Hail Il was only natural that scores OK ouia
rs FASTENED 10 the upper districts to become lceh
fiaed there with vast projects Tor transforming
large areas OF vacant land into modern nauhouSS
and apartment house property. They built. now
ever too many hathouses which were quickly
nut M Even with ordinary wear and tear most OF
the houses IN question last the average time
of the old law hathouses vhich were built twenty
years ago. Nor they going just at present 10
tempt many families living in the crowded DOWN
town sections 10 move TO the upper sections There
are many such poorly constructed houses in the
Dyckman and in the Fort Washington sections
ana IN certain parts Of The Bronx, and tAeir own
ens Will probably have TO trade them for SUBURBAN
lots many miles away from City Hail. Manhattan
81 they want to be rid OF the realty burdens they
are now carrying. The majority Of these builders
thought they Here almost certain TO find quick
market for their buildings. no matter how badly
the structures built. so long as they were
erected according 10 the building laws. These
builders also thought that owing 20 the natural
charms OF the sections in which the buildings were,
families would rush 10 become occupants Of them,
and IN their eagerness TO do would overlook all
the defects OF the premises. These defects might
have bsen overlooked had the number Of new and
poorly erected structures been restricted so that
when they were ready for occupancy the supply
q new buildings was much less than the demand.
When the houses were opened the number OF fat
houses was much greater than the demand and
az fhs present rate Of increase Of population Of
Manhattan and The Bronx It will be several years
az least before the hathouse demand equals the
supply.
The builders IN the upper sections Of the city
who erected houses OF poor construction have al
ready learned severe lesson, and many building
operators who helped them erect such buildings
ere not likely 20 be unusually prominent again as
buyers in the real estate market for long time.
That IS the reason that e is such difficult task
70 fad buyers for many new hathouses IN the
upper sections Of the city.
The oVersupply OF nathOuses should have little
or no eject on trading on Manhattan Island south
Q. z2sth street. There is for there being
any dul sections south OF the Harlem River. for
in the downtown and in the midtown districts
tls reconstruction movement is well under way.
And 81 ne avenues in which Il is proposed 20 ex-
tend the subway system operators and spectators
sse by no means IDLE. IN the rapidly growing fat
house ana business districts OF The Bronx there IS
q much better market for parcels Of various
klnes than some months ago.
One % the leading transactions last week was
the purchase by z. II. Hartman for ss5OOo0 OF
plot-p1th frontage OF 50 feet IN the avenue and
ot 80 feet IN the street az the northeast corner
% sd street and Fifth avenue. He viii build a
has occupied for some months the premises No. II
East ca street. John n. Golding was the broker
IN the transaction and Frederick g. Bourne the
seller of the parcel
Tho site 20 be improved formerly a part OF
the Hotel Langham property, which had a frontage
Of 1s feet IN the and $50 feet IN the street
The hotel property was bought in 1908 by W. D.