New-York tribune., 1909-04-04

The home building period is here. The larger vol
ume OF realty trading which will mark the spring
and will likely be the result OF the
activities Of homeseekers For some years the
spectators and investors who were chiefly respon-
sibe for the vast changes which have taken place
in the sky lines Of old New York have occupied the
most conspicuous places in the realty field But
they are apparently to occupy this year lesser
places In the market of the building of the
tunnels linking the Long Island. Manhattan and
New Jersey shores and the construction OF more
bridges the East River.
Those tunnels and bridges have been large factors
in opening up greet areas cf suburban land
vast army Of homoseekers by bringing the subur-
ban regions within easier reach Of City Hall, Man
haitian. Plans have already been drawn this year
for the transformation many attractive reslden-
taI occupying superb locations in the met
ropolitan suburban into modern village com
munities where most of the buildings Will be owned
by the occupants
The real estate records which are usually consid-
cred true harbngers Of coming events. yividly re-
veal the prominent part that homeseekers will play
In the realty field this year Never was there
more opportune time than for the fuTtherance
of the development along these lines OF the vast
stretches Of land within the boundaries Of
the various boroughs and in the many suburban
zones within short distance Of this city.
MONEY FOR HOME BUILDING.
Large are the sums of money which loan brokers'
and the big companies which lend on such develop
ment work have at hand for just such purposes
Eager the possessors OF these sums 10 get the
money once again into circulation, that it will
earn for them a fair income. In the days OF
brisk local market. occurred in 1901 1870 and
1906 local building operations readily absorPed
the greater part OF the resources Of the lending
companies and many individuals identified with the
realty growth of the greater city The local build
ers will not need tins year anywhere the sums
which they borrowed &c carry their operations
just prior to the opening OF the subway In 1894 and
for a number OF years following.
To understand thoroughly WIZ there have been
few periods The history OF the realty market of
the greater city so favorable the development Of
the suburban the present time, II Is
necessary 10 look backward over the stupendous
building work done in the short space OF about
ten years Ten years ago the upper regions Of the
great West Side which include the Washington
Heights the Dyckman, Marble HIN and Van COrt-
Iandt Park sections. were virtually an unknown
territory majority Of Gu lders and spectators
whose names are now familiar in the realty trading
Of the local market. Turn back the pages Of the
raalt, records 10 1900 and will then set a
glimpse Of the early operations In the central Firth
avenue zone. which at that time wss not numbered
among the largest retail shopping centres In the
world At that time there were few large investors
I'm comparison to the number now Identified with
Fifth avenue property.
II was the late Charles 7, Barney. ROBERT T.
Dovrng Albert Flake and several other persons
who we're the foremost buyers in those days OF
parcels with frontages the central Fifth avenue
-ors Tsav were paving the way, ii were. for
the future development OF the central Fifth avenue
district along present lines by the purchase and
resale OF properties there Most OF their deas were
characterized as spectacular because they involved
80 ,,,in, from, 81 O0 600 to 100000. When those
man first began TO buy heavily in this section of the
citv the ma jority OF investors simply studied 'he
operations. taking no part in the tradlIs- Mess'
Barney, Bowling and Flake clearly foresa" 'n7
bright future of the when the realty signs
taIca ting that fact were practically unseen by the
majority Of traders. BY their vast undertakings
those men we're able 10 prove concluslFely the az
tractveness of the district an investment he'u'
and they drew to the avenue scores OF wen ~ Ni'"
persons In realty walks who later helped to place
~ lttr,ct On the high plane as a retail shopping
centre that II occupies to-day. :
EARLY REALTY OPERATIONS IN THb /
AVENUE
This transformation work in central Firth avenue
was not accomplished in short period out was
the feature of the market for number or years |
preceding and subsequent TO the opening oi 'He
subway. How successful were the realty acn'eNe
ments of this group of men IN the avenue IS wen
known and is often looked upon as one OF the pest
illustrations cf how successful speculator accom-
plishes a task and how to reach the hsneS' pm
nacles of fame In the realty field
Some years before his death Albert Flake was
asked TO make public the methods necessary to
avoid foiIure In the local real estate market He
quickly renIied that there was no firm or fast rule
to Guide one safely through the various aiIuFihs
and investment zones VI the Guy O' "
one desired 10 fortify himself against being over
come bv disaster the thing do always to
stay as near as possible the centre of greatest
activity, and to buy without hrst becoming
acquainted with all the realty condi-
tiors affecting the zone chosen as speculative or
investment operation
The best time for investors and SPECTATORS In
central Fifth avenue trading was in the days
when Messrs. Barney, Flake and Bowling were
perfeciinx their earlier plans there. The values
hen uauch