New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-06-07

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- greet and No. III TO 121 William street. be-
.t,e northwest corner Of those streets. TO the
~s,s.n F5fn Building Company, OF which Henry S.
~.,-,rsor is the president. This property is a
oroId the term OF the lease being eighty-four
TIE ground is owned by the Dutch Reformed
- in America II is the intention OF the
- T57T COMPANY TO replace as soon as possible
- ol5 buildings on the site with big office struct-
= p be ready for occupancy next May. The
-ou,d rental for the term and the cost Of the
suzf,r VIII represent s2.50o GOO. Charles z
.--as and Robert T. NcGusty were the brokers in
.As deal Aln1et Reed Watson = lawyer repre-
60 TIE sellers The Golden Hill Company is
.o---oIed by persons Identified with various fire
assurance companies including the Globe & Rut-
rs-s Spring Garden. stuyvesant and the Pacific
.,o-her important transaction affecting down
- SIRE reported in the week was the sale by
-,ssnr r Davis 10 kalnan Hass Of the eight story
.,-e and loft building. Nos S3s and $40 Canal
--ae- L includes plot with frontage Of little
more than fifty feet, adjoining a parcel at the
sarthssst corner Of Church and Canal streets. z
: king & CO. represented the seller and I, !
rAgrns & Co the buyer
since The sale of the old Mouquin restaurant prop
~ in Sixth avenue Just south Of 2sth street =
+sr weeks ago. many big SPECTATORS and operators
hsve become active again in the central tunnel
-,re This section has for several years owing N
,ss tunnel projects Of the Hudson & Manhattan
Rsfxav Company and the Pennsylvania and the
7rrc Island IA lrcad companies. attracted wida-
q one Of
ne rosr remarkable purchasing movements in the
sfo-v Of me local market Some wears hAsor. tho
rurnel plans were made public. there were signs
hz- The district north Of 18th street and bounded
k Eighth avenue and Broadway and extending a.
tsr as san street would become great loft dis
rrct Scores OF old dwelling houses were purchased
sy builders or construction companies and almost
Immediately replaced by structures ADAPTED To lieb-
manufacturing purposes Here and there +ene
nent houses which were erected under the old law
sn6 were in tie line Of this big DEVELOPMENT
rrrs replaced by fne business buildings and most
q the occupants OF those houses were forced n
remove 10 1a-hOuse sections uptown In the l.e-
years millions have been invested in creating
greater loft or uanufa curing centre almost in
TIE heart II Manhattan Island. and there are IN
6icsfions thai builders VIII not cease this trans
formation work untii the entire section bounded hn
Eh ard I'd streets Eighth aveu1I. and F2-oaa7rs,-
has been rebuilt.
II ana near The Pennsylvania section Of this dis
tic ara many big construction companies control
ling large plots q ground which, II is thought
could be made 70 return their owners large rro7+e
By being improved with either modern hotels or
bg and loft buildings The ma 5or-v IF -7asa
companies expected carry out whatever Mans
they had for the Improvement Of the plots this
sp-ng but money conditions have not been favor
aha 70 carving out these projects. Meanwhile
there hzs been decrease in va ues tl1rourho,,t
the midtown district, are there any indications
O. ru1lC-s thst more of the concerns which
bought property there in recent years are looking
70 unload a considerably less than what they paid
Or have sh2ndoned plans for becoming identified
Tft lie as building movement which is expected
% e 9 feature of this midtown zone when the
FszHTFznia tunnel terminal station At sd street
and ssTsuth avenue IS ready for use
L s II this midtown zone that the strength Of
ne ut1tov7n market partly revealed n the re-
cent financial depression. A sudden check TO realty
PINS II q great zone IS likely 70 be followed by a
coEzEaEd tendency az prices. and 1t would not
Ase been surprising II there had followed a drift
fun this district Of spectators There was. how
sEs- the slightest display of weakness on the
jar C one big Spectator or construction com
pany which was prominent in the zone II the last
biz movement there This is Of the most
gratifying features - the present season. and
Ghfr which has caused considerable delight
En1ng realty leaders Is that prices are consider
r5F higher II the zone now than they were some
=uhs ago. and this upward trend of values has
NJ been created by phenomenal activity there. for
n zone has really figured little this season in the
azness transacted IN the local market
rs marked att-s ctiveuess Is once again appeal
hg sr0lglv 10 far-seeinE SPECTATORS. and its al
lrsnents s-rez- 20 be brighter now than ever be
IRE There are many midtown sections. and some
SIS linked together that II difficult matter
= 6gfne their boundaries. The north boundary IF
no tunnel zone is some blocks north Of SD street
7hs district extends 10 2 point 2 considerable dis
tnce south -F l-lh street. and its width between
81 street and 2oth street is practically the area
srd4red b~ Nf7rh and Third avenues Thus the
rs7trsl FRI avenue retail shopping district IS In
fs h7a- ~ one ~ the sections Of the tunnel area
r he central FIFTH avenue section there are also
Hrrs q renewed interest n speculative sites The
e--1ct likely - continue 70 be enhancing 70
nvsyrcrs s-- z long time The number Of parcels
t0rung II The retail shopping district Of Fifth
t7s-ue between 2st and 47th streets. which are in
ts market f-- sale Is much smaller than a few
-ssrs sEr sch parcels could he quickly counted
spscuato-z f- order 70 remain busy in this zone
asTs had u 70 % the nearby side streets and mat
esnes has been followed by an Increased activity
speculative sales n the streets q the district
Fe.e values are in part due 20 the tunnel projects
sa5 q ne ezee-ness u many hig hisiness houses
= c-- home there
ss7e-sl Interesting deals n that district we're re-
p'r'sd Il ne week. one Of the principal transac-
no-s beng The sale BY Albert T Ashfortn Tor / !
Ars-asr y -he premises Nos u and Is East $50
tsee~ -zc four story stone front dwelling houses
e { ploc with frontage Of % feet According 10
reEort. the buyer viii erect on the site large
hsrosrtle building Through Henry NJ Wei ".
.sFsnoe Martin disposed Of the three story ano
@ssraent h-,iding No IA West 51st street Il mas
st-Ontsge % % feet IN the big midtown loit Ns-
' the PRINCIPAL transaction was the sale ny n q
Eess q the Brunswick Realty Company. 70
Villain I Roseueeld Of the new six story ioIi
aActag Nc - 70 As West 18th street II occupies
5ot With 2 frontage Of about e feet
mere was considerable activity N the WEEK -
/ Z West Side north OF 5sth street Constructor
11psries and builders were busiest there - L.
Aoroecai & Sons Inc who held controlling IN
I Tss' IN the ATeuel Construction Company whcn
sotly butt the ATlenel apartment house No oo
% So street sold half interest in the company
1 aeller & Wolf The AIIenel company mas Oee't
'sanized. Z VII, improve plot, 5exlS0 1eeL a.
1 - southeast corner Of 10Th street and broaaF-s
% twelve story apartment house, for winch
1 ~ are being drawn by william L Rouse on :
- -vx-x Irregular on the southeriy side OF L4''it
- q feet east q Amsterdam avenue the 1uii'
&g and Construction Company Is going 10 DOi.1
! : sy ST.. -,--.-. - T. -,,,--ha sad the site