New-York tribune., 1909-01-17

death was one Of the heaviest the local
real estate market has sustained in many years.
II was just before the announcement OF the
yertous tunnel projects which a part Of
the city were made public that R II Macy & Co
decided to move from 14th street and Sixth avenue
10 84th and Sixth avenue. and Saks & Co.
formulated plans for occupying site opposite that
selected for the new home for r. H Macy & co.
This decision create a great drygoods centre
al 3ith street and Sixth avenue was followed by
widespread activity of investors and spectators
throughout the section. and in a little while there
was noticeable drift Of we'll known retail houses
toward the ri tn avenue shopping centre
When the tunnel plans We're announced thers was
a rush Of most Of the realty leaders To take part
in the work Of placing the Fifth avenue shopping
zone on its present solid basis and IN expanding
that shopping district. that many OF the nearby
cross streets became prominent factors CT this
centre. Investors and sPecIlatCTs then
busy to take up the work Of transforming the
Fourth avenue district for those OF them who
we're prominent in other midtown centres
engaged in the work Of charging the newer resi-
Dental districts in the rorherly part Of city.
BUILDING PROJECTS THREE YEARS AGO
Just about the time the phenomenal building and
purchasing movement which followed ths opening
OF the suhHay in 1-yi losing It's attrdctveness
most Of the pig construction companies and specu-
Iators had work practically mapped ont for them
in the downtown zones. That work covered the
entire year of 1"S. and forms of the most in
terestins epochs in the realty history OF the greater
city 1t was the creation Of the present syscraper
district which gave the city such monumental
construction work the twin Trinity buildings.
the twin Tunnel Terminal buildings. the Singer
Building. the city Investing and the MetroroIi-
tam and moreover the largest office structure
ever put up on a site fronting in West street
Truly there have been few dull spots or periods
Of long inactivity in the real estate market since
1900 There a dull period from the fau Of 1901
to about the fall Of 1905 that was a result cf
conditions emanating from outside Of the real es-
tate market, and not within II. Because Of the
magnitude Of all this work which has been done
in this brief period Of nine years. there is little
cause for wonderment at the sugGishneSs OF the
market in that time for central Fourth avenue
properties. Now most Of big realty leaders can
get together and work for the uphuilding Of this
large thoroughfare within short distance OF
the principal retail shopping theatre centres Of
the greater city. q
The trading last week not only notable for a
broadening Of the market for Fourth avenue prop
critics. also for increase in the number of
sales Of high class dwelling houses. James r.
Duke bought for about S1.501c0 the four story and
basement dwelling house at the north corner Of
18th street and Fifth avenue. owned by the r. II
Cook estate The property has frontage of 100
feet on the avenue and l50 feet the street. II
adjoins No. 974 Fifth avenue, the home of Payne
Whitney and No. 2 East 18th street, the home OF
H H Rogers. l.. J. PhIips & Co. were the
brokers' in the deal
Herbert A sherman sold for George @ De Witt
and other executors Of the estate Of Matilda ".
Bruce No $40 Fifth avenue. northeast corner of
SD street on plot 255x for about 500 on
10 Gustave Amsinck.