New-York tribune., 1908-04-12
ITS STABILITY

Ths recent financial depression has clearly DEM
onstrstsd the stability Of The real market.
IN the last SIX months there has been reces-
scr of values on Manhattan Island in The
HTasa. Brooklyn, Richmond Queens or in any
section comprising the suburban places within the
metropolitan zone. Early last September II vas
tho1ght that z few districts in the upper part OF
TINS cirv were overbuilt. and efforts were made
II readjus- conditions there that the general
n-s-ket would Dc strengthened. This mainly
oone bv gu-railment Of building operations, es-
pscisIy o. the five and six story fathouSe. The
present spring season already indicates that New
Tork is overbuilL and that everywhere ,a-ues
rave an upward tendency. Great business centres
are being created from one end OF the CRY 10 the
ether, and IN the outlying suburban sections wide
q land being rapidly transformed into
thriving industrial and residential districts Few
persons realize the great projects which have been
carried out in the last few years TO mee1 the de-
rands for factories. Office buildings store and loft
s--uctu-eE. South Of Chambers street large num-
bc-s q old buildings have been replaced by mod
EN- skyEcrapers. TWO Of which are tho biggest
buildings OF their kind ever put up IN this or any
ether country. The Singer Building, now ready
1o- occupancy, IS the tallest Office building in The
vcrld. and The city Investing Building, al Broad
way and Ccrtlandt street Is the biggest structure
ever built. regards floor area, FOR Office pur-
poses. and throughout this main ONCE district
Ct The city, in which many millions Of dollars
have been invested OF late years in erecting and
realty leaders ls plainly visible IN nearly every
Trsst
The NEW GREAT WHOLESALE DISTRICT.
r vas not 50 many years ago that the business
section principally used by wholesale houses had
rs northern boundary al 14th street but nov many
wholesale houses find large and commodous sites
fo- their II the streets adjacent 10 Broadway
Es fsr norm 59Jh street
One q the largest wholesale business districts
which has been developed from a small centre into
is present size in about FIVE years is bounded by
lth ard "a streets and Seventh and Lexington
avenues, and in that part Of town Will be found
10 Offices % many leading industrial concerns OF
this country To the east OF this loft district will
= found and rapidly growing business
centre opposite 70 the new Grand Central Station.
7 the of the district is modern and flourish
ing MOTEL. store ana Office district, Of which Sew
e1rH avenue Is the principal artery.
UPBUILDIHG THE GRAND CIRCLE SECTION.
n the Grand Circle district. at 5eth street and
kghrn avenue. thousands have been spent in i'm
proving district along the most suitable lines.
II Is now OF the principal theatre and Office
centres Of this city. with It's northery end almost
touching Sherman Square, and according 70 many
fss estate experts IT will not be years before
i is almost par with the principal theatre
centre between Sd and 42d streets, with Broadway
as Us principal thoroughfare.
INCREASE N FIFTH AVENUE VALUES.
Gigantic building plans have not only been per-
fectsd, but have been successfully carried out in
tne last few years between 23d and Goth streets,
s-ong Fifth avenue and II many streets in the dis
u1ct- II the Fifth avenue section remarkable
retail shopping district has been created within
tlTee years and result values have risen there
ron 200 front foot up 10 3s, 900 a front foot,
<nc Il is likely that sites at 34th street and Fifth
aFenue II they were offered for sale would
hEnd price which would astonish many Of the
lesding operators and spectators. In the
period Of time S4th street from Madison 10
point just Of Seventh avenue has become
one Of the leading shopping centres OF
the city and values along that street to-day
many times larger than what they a few
Years ago. II would be a difficult task 10 find a
section Of the city which has not been more or
iess benefited by the increase OF industrial con-
cerns here and by the tunnel and other transit
projects for making travel from one section 20 the
olner quick, safe and comfortable.
BUSINESS HOUSES IN MADISON AVENUE.
The increase n values in Fifth avenue from I'd
70 18th street has been great to force many
p-tsons who desired sites there 70 seek suitable
plols for their in Madison avenue in other
nearby avenues and in many cross streets. Thesr
s'eahef business zones haze resulted IN wonderful
Isnsforfnstons snd nave strengthened that vast
1s sluFinz Residential district north Of j9th street