New-York tribune., 1908-11-08


MIL not he topheavy and viii not form a weak
support in the realty foundation. With one or two
imperfect districts there is always need OF tue
forces which bring about readjustment OF con-
ditjons and whenever such readjustment processes
are under way there is likelihood of there being
considerable fear among operators and investors
as 10 the stability of values.
DISTRICTS READY FOR LOFTS.
It is thought that the bridges will largely
help the real estate leaders 10 solve this problem
of creating newer manufacturing zones. where the
permanent fixed charges will not fall so 'heaVlE
on the manufacturers as in the midtown loIt cen
tres and where better avenues of employment Will
be open to the toilng masss OF the greater CITY.
That vast area of land bounded by 18th and %th
streets and Third and the East River mas
long been ready the builders of manufacturing
centres The applies TO the great region
bounded by 59th and 42d streets, Third avenue ana
the East River. An effort was made few years
ago by one two of the real estate Leaders 10
bring about q movement Of manufacturers TO the
district north Of the Manhattan approach OF the
greensboro Bridge. and in adding to the attract
iveness of this part of the city TO manufacturers
speculative builders the city lent valuable a1o
by improving the pier facilities along the East
River north of 59th street. The city also Wldened
Exterior street, which begins at East oAth street
and extends in straight northery line to East aist
street. That avenue is now one or the pest thor-
oughfares for heavy vehicles in the greater city
1t borders greater part of the pier fronts whch
were improved at the expense OF the city. IL also
cant land and sites occupied by old structures
which could be easily replaced at a small cost by
large manufacturing plants. and this proposed
manufacturing centre might be EXTENDED SO as 10
obterate Little Italy, in the upper East Side
and several other tenement districts\tn there which,
somehow have remained antquated in spite OF the
needs in the greater city for model tenements-
IDEAL PLACE FOR HOMES FOR WORKERS.
The greensboro Bridge at its easterly end touches
section of Long Island City where there are acres
and acres Of unimproved land suitable for the erec
ton of modern family houses which could
comfortably shelter, according to real estate ex-
merits the greater part, If not all. Of the persons
living III tenement houses Manhattan Island IN
the districts bounded 59th and 3st streets Third
avenue and the East River In that district OF the
city modern manufacturing centre couId Dc Gre
/ ated in few years. and it would have excellent
pier facilities which the midtown zone lacks. and II
would have many wide thoroughfares for the use
/ OF heavily laden vehicles, and it would be Just
! as easily accessible to the toiling masses VINO
would find employment there as the great midtown
zones are to-day to the, thousands Of workers who
! live the lower East Side
/ WHAT BROOKLYN BUILDERS MAY DO.
The Manhattan Bridge which unites the boroughs
! of Manhattan and Brooklyn. cannot possibly play
| it is thought important part In the creation
! Of a model factory centre Manhattan Island.
but 1t may awaken builders in Brooklyn to trans
! form large plots Of land there into properties for
the especial use OF factories II present real estate
conditions allowed to remain as they are, the
/ Manhattan Bridge will undoubtedly be an I'M
portant factor in increasing the area now occupied
by the midtown factory and thus it will help
IN intensity the deporabIe conditions under which
/ a large part Of the working and women OF this
city must live work. Il may even lead to the
/ replacing Of many storage buildings on the lower
! West Side some of which have large frontages in
/ Vandam, Charlton, Spring, Washington Greenwich
and West streets with large factory plants. In the
lower West Side the builders Of storage houses have
! been getting q firmer foorhod each year. And
there is need Of larger area occupied by storage
houses, just much as there is need of greater
and better manufacturing centres. The goods pro-
duced bv the manufacturers must be stored after
/ they arc produced, until market is found for
them The country produce must also be housed
under the best sanitary conditions until it reaches
the consumer
NO DECREASE IN VALUES LIKELY.
If z newer and better manufacturing was
established there would be little danger Of a de-
crease in values in the midtown section because
| of the new business methods adopted by the ma
tority of wholesale houses TO reach the buying
firms outside of the greater city Most OF the loft
structures almost entirely devoted 10 manu-
featuring of various kinds and the other loft build
! ings are used partly as storerooms and partly as
| display In the days when nearly all the
wholesale houses relied drunlmers to reach the
| out-of-town buyers there few display rooms
in the midtown districts or in any other part of
the greater city. Few houses employ drum
ners travel from place to place to increase their
| trade the retail merchants visit once or many
times year the cities which the goods IN which
they deal exhibited. This city has probably
more buildings entirely occupied showrooms
! than be found in any other large distribut-
ing commercial centre. The permanency OF values
! in the midtown could uqquestonably be MAIN
| tanned by enlarging the area occupied there for
the display OF goods out-of-town buyers and il
is the opinion OF well known hotel men and many
! realty leaders that the larger the area so occu-
pied the greater will become the hotel zones Of the
| city, noted especially for their transient trade
OUTLOOK IN EASTERLY SECTIONS
| 1t looks as if the day was near at hand when q
| large part of the famous East Side would move
| northward, 10 a colloquial expression and
when builders Of manufacturing plants and model
| tenement houses would become active in large
numbers IN that section of the city north OF 18th
street and OF Third far north
! the Harlem River Many manufacturers de-
| mandinF the building Of larger and more modern
! quarters for their use in the Borough of Queens,
! and there is the slightest doubt that Queens
| is destined become much larger manufactur-
! ing centre, in which the laborng masses
| will find proper housing at cost we'll within
| their The Port Morris section OF The
| Bronx is also destined TO become a much greater
| manufacturing centre than at present. but there
IS little likelihood of the fathouse rentals there
! being as attractive to the laboring masses a
! those in Queens and in the northeast section Of
| Manhattan Island. All that the majority of realty
| leaders in The Bronx 10 think about is the
! creation OF blocks and blocks covered with tene-
! nent houses with from three thousand to five
! thousand persons on block. One real estate
pert in referring comparative values in the
| FTatbush district and in the various sections of
! The Bronx, said that when he studied Flatbush
| conditions and only from three hundred to