New-York tribune., 1909-05-23

ing there has been of the real estate mar
ket and in that period many Of the choicest sites
the thoroughfare have been bought by spectators
for improvement with modern loft and store strnct
ures Other well located plots have been purchased
by big retail business firms as sites for structures
for their
Years ago scores Of large realty operators and
SPECTATORS wondered why this part OF the avenue
was principally noted for its realty sluggishness'
and the more they studied its physical character
istIcs the greater became their surprise at the
Iethargy there. No big artery of business was
wider. nor was there thOToughfare. centrally To-
Gated bordered by many long rows Of old style
buildings which could be quickly replaced. On all
sides there were many signs plainly visible. of al
most innuIerable opportunities for highly profitable
speculative or investment purchases. Yet the ave
nue. as far realty activity was concerned, re-
u1ained in a placid condition until increased demands
Of business recently led divestng the district OF
It's realty quietness and revealing the depth and
breadth of its attractiyeness.
Years go some we'll known operators. spectators
and builders became restless every time they
thought OF the central Fourth avenue district and
the absence Of many building operations there and
thev mustered then enough courage to express pub
llclv the opinion that II would not be a long time
before something was done TO change the skyline
Of the district and make it a great business sec
ton chiefly noted for its tall modern 'ulIdllSS
all pTOfitably rented
Those views were expressed in the days Z the
old school Of traders. when the Real Estate Ex-
change salesroous were the site I'm Liberty
street now occupied by the Chamber of Commerce
Large numbers OF members OF the old school OF
realty traders who helped to shape projects which
added TO the fame Of the city place Of big
skvscrapers. OF hotels Of record size, OF dwelling
houses Of beautiful architectural lines and repre-
sentinE an inventory Of many hundred thousand
dollars each and fo~ many other things worth re-
rne11borinE which form its realty growth and its
realty history have died since then. and many
members too Of what is called the school
And now, In every place where persons active IN
the real estate market meet the expression IS
beard. Fourth avenue has been discovered OF
course the saying does not harmOnize with the
whole truth, for Fourth avenue has not just been
discovered by realty men. but never before In the
development of that tho-oushfare have SO many
sDeculators investors and operators entered # at
the same time all with the same purpose. namely.
adding to its earning power by changing in a
marked manner its skyline.
OLD FEATURES OF SECTION.
The few changes IN the physical features OF tne
e,,a in the last fifteen years and then lis SUDDEN
r,s. 70 great realty prominence comprise one OF
.ho most interesting real estate Studies TO the
.vnort 81 many years experience in the market
r5 ~ those vast numbers OF persons who nave
,-a+ched closely the invasion Of suburban areas
;Dca tho dav the plans for linking the Manhattan
>avr Jersey and Long Island shores WIN het-
r,, ~ tunnel tubes were made public II is douoIy
,,.aresttnc II impresses upon the mind the fact
,nat a district which Is apparently forgotten TO-