New-York tribune., 1909-12-12

The attractiveness OF the new midtown
loft centres 10 speculative builders and oper-
stors was clearly reflected last week in the
large business transacted in that part OF
the city. These purchasing operations have
been among the leading features OF realty
trading since the spring season and their
volume has been rapidly increasing in that
period.
II only one-hslf OF the projects for ir<
proving sites in the territory are carried
out next spring. old Manhattan will witness
scenes OF building activity north OF Esd
street and west OF Sixth avenue which will
be among the most interesting and most
important In the history OF the greater city
AT present the majority OF realty walks
lead 20 this alluring speculative zone. There
would he no buying OF such magnitude IN
less the well known operators and specuia-
tors there were absolutely certain that the
city was In need OF greater business areas
for wholesale manufacturers and for retail
Display rooms.
For years the greater part OF the section
north Of 23d street and west OF Sixth ave
nue. has been noted for its long rows OF
old style flathOuses IL was truly a resi-
Genital district of many rookeries and with
few signs indicating that Il would ever be
q worthy addition 10 the great business
marts of the city
with the announcement OF the plans OF
the Pennsylvania Railroad Company for the
linking OF the New Jersey. Manhattan and
Long Island shores with river tubes and
for the building OF a great tunnel station
az 3sd street and Seventh avenue. the prob
able future outlines OF this old residential
centre became fairly discernible TO the
trained eye Of the realty expert The plans
meant the doom OF the district a tene-
ment house area. and its upbuilding into
region noted for its tall loft structures.
THE MOST POPULAR SECTION.
The present purchasing movement in the
area mostly affects properties west OF Sixth
avenue. between 2Sd and 29th streets. Years
ago these blocks formed part Of the section
known as the old Tenderloin.
Last week deals in this part OF the city
were features OF the trading. The section
Just north. between s4th and 42d streets.
and west OF Broadway, also furnished IN
the week a larger number OF important
realty sales than in a long time IT is
thought that thes~ sales indicate a pur-
chasing movement there in the near future
which viii equal in vigor that in the dis
ulct nom -oo 10 .sn Sueel
Edward Beer. Daniel p. Freedman. David
and Harry Lppman. Aaron Coleman and
a number OF other -ell known operators
and SPECTATORS figured prominently in the
deals IN the new loft centre north Of 23d
street Since the summer season many par
cells IN the district have changed hands four
or I'VE times. and large numbers Of other
parcels in the region are likely 10 be sold
onA heF q
builders early IN the spring.
That the speculative builders are going
to have little difficulty in marketing their
wares there Was Indicated last week by q
deal made by Frederick Fox & Co. On the
premises Nos. lis and III West 27th street
bOxsS.s feet. the Fleischman Brothers Com
pany is erecting for the Aurora Investing
Company & twelve story mercantile build
ing. IL viii be one OF the finest structures
81 its kind in the city. IL Is TO be ready for
occupancy on January J. The last tier OF
beams was placed in position about two
weeks ago. Frederick Fox & Co. sold the
property last week 10 Gross. Engel a. Co,
large wholesale manufacturers and import
ers OF rurs. now located at No. IA East l5tn
street. The property was held at s325 coo
and the purchase price was a little less
than that sum. The buyers viii occupy d
large part OF the building.
SOME TYPICAL SALES
a typical deal IN the new loft centre last
week was the purchase by Daniel b. Freed
man through the Edgar T. Holdridge Com
pany. Inc, from the trustees OF the Samuel
T. Reynolds estate OF the thr se four story
buildings. No. 245 70 24e West 9th street on
plot 75x9S.9 feet That was the first sale
OF the property in twenty-five years.
Another transaction rejecting the char
scter OF the leading operations in the zone
was the sale by David and Samuel NJ Korn
az the former De Witt Chapel property.
now used by the Longacre Athletic Club.
comprising a plot 59x9Ss feet, at Nos. I5S
and l6O West 18th street. for about So, COO.
Edward Raer was unusually active in the
section in the week Through the Henry NJ.
Well Company he and William Goldsone
sold 20 Charles A Gachot No. Iss West 26th
street, on lot lSSxs8s feet +. Michel
owns Nos. ls4 and lS6. adjoining. Messrs.
Gachot and Michel have agreed 70 com
oine their parcels. The same brokerage
firm also sold 10 Mr.. Baer Nos. Isl and lss
West 18th street two old four story tene-
ment houses, on a plot ssxlO7 feet Through
Frost. Palmer & Co. Mr.. Baer resold No.
I5S 20 .e2 West 25th street. three four story
dwelling houses. on a plot 55xss.s feet to-
sether with the abutting property. No. l57
WeFt c4fh snntr