New-York tribune., 1909-01-10


district which is traversed by the tunnel routes is
likely TO be greatly benefited by the tunnel systen
which has linked the Long Island. Manhattan and
Jersey shores.
Slowly the sky line OF s4th east of Madison
avenue is being changed II Is however, being al
tered In such way as TO impress upon the minds
or the majority Of connected with the real
estate market that the future of the thoroughfare
and also Of the northery part OF the Fourth
district IS bright. Plans were recently fled the
Improvement of the block front the westerly SIDE
or Fourth avenue. from 33d street TO S4th street.
with hotel which will be OF the largest on
Manhattan Island. The site is owned by Alfred
Gwynne Vanderbilt, and the hotel will be put up
from plans by Warren & wetmore, architects, by
company which has acquired control of the prop
erty The building at the southwest corner of 34th
street and Fourth avenue, which occupies part OF
the plot. was for many years the home of the
Princeton Club That club is located in the
Gramercy Park section of the city. South of the
site Is the Park Avenue Hotel. and diagonally OPP
postte is the block front which is thought will
soon be taken over by the New Haven Railroad
the site for great tunnel terminal station. Last
year a number of old hosteries in Fourth avenue
were closed and will be replaced by modern loTt
structures.
FEW BUILDERS IN LOWER PARK AVENUE.
Just north Of the central Fourth avenue district
the lower Park avenue zone. It was thought some
years ago that the subway would result in a large
enhancement of values throughout that district and
that the section might become unusually attractive
to builders OF big hotels and apartment houses
Since the opening of the subway there has been
little realty trading in the district The transactions
which have been perfected there have not wrought
any great change in the physical characteristics of
the region. On an easterly block front in the
nue. and within a short distance OF the Grand Cen
tral Station big office structure was recently
erected.
In the closing months OF year the larger vol
oTne OF realty trading of speculative character
was IN the upper districts Of Manhattan Island and
EgNfTf'S pnlr
10 that trading many block fronts the Heights
and in the Dyckman districts changed hands q
large number Of them being bought by builders,
"sio VIII improve their holdings In the spring with
apartment houses or groups of dwelling houses.
The activity there also brought about an increase
OF values throughout almost the entire district
many corner parcels in the Dyckman section now
find ready buyers at above the $4,000 lot mark.
The closing months OF last year were also marked
by movement which means much for the placing
of the Borough Of The Bronx on a foundation less
dependent for stability upon the Manhattan money
channels The chief aim of the builders who were
active in The Bronx zones about twenty years ago
was apparently to make the borough noted for
large residential centres. which appealed especially
to skilled working and women of thrifty
habits. This aim they attained in brilliant
manner, evidenced by the strength of the resi-
Dental which they helped to create. At that
time the upbuilding of the shore frontages OF The
Bronx and land adjoining was left almost entirely
to manufacturing concerns seeking homes outside
ings did figure such big initial burden in
the chief manufacturing zones on Manhattan Isl
and. As most of the manufacturing concerns car
ried out their plans without any effort to draw
TO their section other Industrial plants, the factory
centres thus built were scattered and in many
cases some miles apart end somewhat remote from
transit lines.
TRANSPORTING HUNTS POINT.
The work Of widening the channels of employ
ment In The Bronx for skilled and unskilled work
ing men and women Is now practically IN the hands
of group Of well known financial men and also Of
a number Of leading real estate operators These
have begun the work of transforming all the
land in the Hunts Point territory which is suitable
for manufacturing and pier purposes as rapidly as
possible and they intend to make the borough one
Of the strongest as regards manufacturing centres
In the greater city. Thus many more thousands OF
persons will find work there. and Of those numbers
it is expected that the majority VIII decide TO be-
come residents of the borough. In this way ten
ants will be found for many houses which are to oo
built adjoining the factory centres, and this newer
factory and residential zone will bring about the
building of long rows of fine store properties.
The Hunts Point section OF The Bronx was
about years age long stretch Of land on
which were a few od-fashioned buildings. 1t was
then really q long tract of woodland. Hunts
Point was then q forty-foot lane, with
woods on either side. To-day 1t is a 1O-foet ave-
nue. open from the Southern Boulevard and the
Sound, and paved as far as Lafayette avenue. In
this period of time great changes have taken place
throughout the entire district. Miles and miles of
streets have been laid out and graded, millions
have been invested in groups OF dwelling houses
most Of which have been sold and large sums Of
money have been spent in building large factory
plants. In this construction work Henry Morgen-
thau and Robert z Simon have been important
factors
TO OPEN MANY STREETS.
Last week one of the principal transactions in
The Bronx was the sale of what is known as the
Spofford tract It is in the Hunts Point section
It comprises twenty-five acres. beginning on the
west side OF Hunts Point avenue about 110 feet
south OF the junction OF Coster street and Hunts
Point avenue and including all OF the property
hetyeen the new Hunts Point avenue and the old
Hunts Point road to within 100 feet of the Eastern
Boulevard The parcel also includes large pot
between Randall and Spofford avenues. extending
from the side Of Hunts Point avenue 10 Drake
street Whittier, Longfeilow. Bryant, Faile and
Coster streets and Hunts Point, Spoford and Ran
dali avenues extend through the property At Spot
ford avenue and Faile street is the old Spofford
mansion The property was sold by George r
Johnson to the Spofford Estates Incorporated
company formed for the purpose oI Duylhs the
tract
Hunts Point avenue will be paved Immediately
with asphalt from Lafayette avenue to Eastern
Boulevard and ali the other streets Will be opened
regulated and graded
The tract is within blocks of the site recently
nurchased by the American Bank Note Company
and almost adioins the i97 recently bought by
Messrs Grant, E1liings and Brady In vie" OF
these facts there Isl likely 10 be no decrease but
g big increase in trading in the Hunts Point region
this year.
A number of vacant tracts In the Upper West
Side were sold last week Bernard Smyth q sons
cold to Charles N. Rosenthal for Hogenauer & Nes-
s,su q Mot 5lxlO3 feet. the west side OF Fort
washington avenue. about 30 feet north OF lo'h
street Mr. Rosenthal recently bought through the