New-York tribune., 1909-04-04
VAST SUMS FOR HOME BUILDING
LARGER MONEY CHANNELS FOR CARRYING OUT
SUCH PROJECTS IN SUBJ RBAN SECTIONS
Factors Which Haze Brought about THIS York
IN Local and Nearby Districts

time and the opportunities for larger tro,
investments were much greater than now. IN tns
last eight years almost the entire central Fifth
avenue from 23d street 5Ott street has been
taken over by large retail houses and operators
and improved with modern buildings for the use OF
retail concerns with loft and Of7ce structures
For this the number OF sites for sale and
which ne quickly improved with paying build
ings is small indeed compared the total number
Of properties which have been taken out OF ths
market and which have been so transformed as 20
bring the district up to a size equal 20 any dis
trct OF its kind in the world AT about the time o.
the opening OF the subway there urgent need
for the expansion OF what Nj DowIng has char
acterized the cCmmerciaI cathedral section q
the greater city viz the enlargement Of the great
downtown business centres
THE WORK or THE LEADERS
Messrs Flake and Bowling had never been large
" identified with the development Of the most
northerIy sections of the city. II was therefore,
no cause for wonderment that at the tms vhsn
realty conditions shaped themselves that thsrs
need for big operators in the lower districts
and vast avenues for safe speculation the upper
regions that those two indefatigabIe workers for
a greater and grandsr city decided 20 cast their
lot with the builders up OF the downtown zones
On the other hand, the realty records will show
that the call TO the northerly district sounded Ike
music the ears Of rhe late Charles T.
Barney. and that he lost time in joining ths
pioneers in the development OF Wsshing1c1
Heights and the Dyckman section At time
Mr.. Barney owned more vacant land in the north-
erly districts OF city than was ever controlled
By any other person in the history Of the city It
is estimated that his holdings there in those days
represented investment Of over sSooo0oo These
figures forcefully show what we're his views ca
the future Of those great sections. which are rap
idly becoming worthy aunexss OF the big West
Side
Mr.. Barney mapped out novel plan G, opera
he had
fully over the period which is known the SUB
way boom time ne would have placed insur-
mountabe obstacles in the way Of inexpertsrcsd
builders invading the upper West Side districts
and there would have been fewer faulty cen
structed apartment houses within rhs boundaries
Of this splendid residential area OF the greater city
But just prior to the opening of the subway tbs
demands of prospective buyers 20 acquire soHs O.
the sites became overwhelming and Mr. Barney
became a seller instead OF a developer Thoss 70
whom ne sold. time has revealed. made more sub
stantia profits from their purchases and from tcs
construction work than fell TO his lot When ts
subway boom had lost most Of It's vsor ne vas
still large holder of land there. nut his operations
throughout those regions had not been as pFont-
able him as he expected Uheu he devised hS
scheme OF operation In spite Of the many hsHh
which have been recently discovered n MS puI-
chasing campaigns that time on the West slas
Mr.. Barney will always be held by the naJofG
of able realty traders as being largely responSee
for the quick upbuidins of these zones soon sils4
they were brought much nearer, hgurativsly speAA
ing 10 City Hall. Manhattan. BY the opening u
the subway
IN THE DOWNTOWN DISTRICTS
While Mr. Barney was busy on the heights aad
in The Dyckman section Messrs. Flake and DoN-
ling were active in the wo K OF enarging the do"
town skscraper section. And in the doTntoNn
erations William H Chesebroush and WiHAln "
McAdoo. acting for their companies. were HnpN
~Tl-E
are not to be classed builders but as specuiS''
who laid the foundation work necessary 10 snS'1
age large mercantile houses needing bigger va
ters TO buy and build for their own use MI CA
brough. however, Is builder and a specuA'ol
his company has improved more land in the SOW
Ing Green section Of the city than any othef -
construction concern. large share OF the el
for many OF the vast Office projects WHICH -.
been successfully carried out in the downtown
trict since the opening os ths subway, N Is- -.
also be given 20 Harry S. Black and his As'o-
In the United States Realty and ImprovsmsSt0'N
pany. Id
Since the opening OF the subway large 81
the business centres south Of Chambers strse' -.
been rebuilt. not with skyscraperS or oroIhs41
put OF record width and height ,,d
While Messrs Flake Bowling, Cneseoro1s -
many others we're adding many millions q
able property to the downtown business N.
Hey Corn and his associates and many % srs
construction companies which had been AoA ~.
almost wholly occupied IN Ihe uSN NSASF1-
over Fifth avenue business area and IN "- -~v.r
regions were bIsy supplying the demand l , s.d
md more commodous homes for wno'e IN
.etail concerns in the loft and retail cehue, -,.s
If Washington Square. These men anu ~ SO orr
have changed the skylines Of these distrS'S g. ~-.an
,Ietely as have the individuals and coiis ,ss
companies identified with the recent grown "
over business centres
MILLIONS SPENT FOR BUILDING
The development Of the central Fifta 1s.--,atcr
eduired millions OF dsars. The transla az
" the downtown business regions repfs.-, Al
Investment OF many more millions ana - - -
he operations in the loft and retail o"siiS's