New-York tribune., 1908-04-12

yn builders are likely TO be more active than else.
where in the next five ten years. The number
of builders is large. and the opinions OF the
builders TO the best speculative fields differ
the builders likely found scattered
throughout the entire borough for many years to
come. Some builders have found that the East
New York district is their best field; others
more successful IN operating IN Richmond Hill.
Glendale. Morris Park or along Jamaica avenue.
Others have found quicker market for their
wares in the Williamsburg section and few build
ers have even introduced the five story ''Walk-up
fiat IN Brooklyn and experienced little difficulty
in getting tenants for their disposing of
their property when It ready for the market.
One Of the leading real estate operators in the
borough in speaking about the future Of Brooklyn,
said yesterday:
1t has taken the Manhattan speculators a long
time TO realize the real estate opportunities in
Brooklyn Somehow the majority of Manhattan
spectators looked upon Brooklyn until recently as
they would upon hazardous suburban develop
nent scheme, and OF their operations revealed
that they had been identified with the Improvement
OF big tracts of land many miles from either Man
haitian or Brooklyn. in preference TO BROOKLYN
operations. and some Of those operations have been
costly 10 them. It was the subway projects which
led them 10 look over the many charming resi-
dental and business districts of Brooklyn and the
realty measurements OF those sections were so per
rect that 1t did not take them long to decide to
become identified large scale with the future
growth OF various sections of BROOKLYN. In many
cases the price of land low to them that
they could not understand why it was that the at
tac1lVeness OF Brooklyn values had long es-
capped their attention 1t is the big Manhattan
builders who able undertake the fr1nrove-
ment Of entire blocks without much financial as
sistance from the money lenders. and their pres
ence IN the Brooklyn sections will be followed h,
the large Manhattan investor, who for year. ha
been buying the finished product of Manba+ta,
builders for the simple that the houses
are not only strongly built but can be rented AZ
prices which Will for him ha andson1e nro6+
upon his investment
41ott building on Manhattan Island clearly tndi-
Gates that scores Of little manufacturing concerns
urgently need space in modern buildings s17i+abla
for The use Of their business The rentals asLad
Ior space N the midtown loft district Of Msnbat-
I'd" Is4dhd Is already too high for these small
manufacturing concerns to become located there
brooklyn Is going to take care Of such business
houses and they are going to be located in the
near future IN the older business sections Of ,bs
borough especially in the sections bounded on +be
south by the easteTIy approach 10 the BROOKLYN
Bridge and the north by the easterIv aD,roao+
or the Blackwelrs Island Bridge
'F'lathouse rentals in New York have sI.o =.
come TOO high for the majority OF uorkingrnar
ana cheaper homes for such persons will have ~
De 4Ouho IN the newer or older sections of Brook
lyn within easy reach of the various hust,.s
zones Of Manhattan Island. The rapid develorroer,
OF Long Island City and Astoria which has beer
manly due TO the building Of the Blackwell's Isl.
ana bfloge the Pennsylvania Railroad projects
and the Belmont tunnel between Long Island civ
and Manhattan Island. indicates that in the To-g
Island City and Astoria districts homes for r,aS5
hundred thousand workingmen will be built vvtthir
. few years.
II viii be many years before rents for fat
houses IN those districts will equal the rentals
charged in Harlem various parts Of The
Bronx, and of course. when the rentals for cats
on both sides of the river are equal the earning
power OF land VIII be the same. and therefore
tere VII be no difference in the value Of property
These facts should convince the doubling snecu
ator and investor The opportunities for 50 "a
investments In the Borough Of BROOKLYN Tho
average Manhattan investor usually arrives az his
conclusions as 10 the realty future of a district
outside OF Manhattan too hastily II the Arst sur
vey Of a section does AT once appeaI m hin,
he seldom pays much further attention 10 tia,
district Take. for instance, Long Island city and
Astoria as an example Real estate men can re-
late many trying experiences which they had some
years ago IN trying to induce big specuIators m
become Identified with tenement house opera+io,.
thefe. Big speculatoTs usually remarked. after
looking over the section, that the districts wers
SO overrun with dilapidated structures that few
streets were attractive. that many thoroughfares
had not been properly constructed, and that the
entire districts with one two exceptions pre-
sented picture OF abject distress. II is no won
der that IL has taken many years get the neces-
sary support 10 begin the great work OF transform
ing this fine speculative field into u great residen
ial region. Few persons. Of course, expect TO se-
the district built lines ike the great West Side
Of Manhattan Island. II such a transformation
does take place il VIII probably be after the pres
ent school Of real operators and specuators
are longer active IL the great real estate mar
ket OF New York. 1t does seem possible that
the district could build up along such lines I'm IN.
decade, because the city If II wants to Dre
its industrial growth must provide neuya.
better areas for manufacturing concerns and in
those must be built houses in which the
NorIiugmen can live chcaplv and at the same
be within few blocks Of their places OF en-
ploymcut. Maybe after long lapse Of wears the
factory movement the sWeatshop movement viii
hc 10 The plots fronting the hays Of erAster
New York and then viii come the second ynb,,ud
inS ~ this great stretch of land north ~ the Mn
"a smsbulE Bridge
The realty future ~ J7maiCa. Richmond Hn
and u1anr of the other places east Of East N.
York is undoubtedly bright and the person ~,
invests property there will assu-edly he peu
rapatd for nj foresight -