New-York tribune., 1909-07-11
IN DISTRICT

.+o-. and loft space in the new wholesale ois-
+-ic4 between zsd and s4th streets west OF broao
way IN 10 few years age this olsu1ct was
,,,--ss, o,c,lnIed tv old style dwelling houses,
,s,,ch were poor income producing properties
,so,,,.- NJ +he buildings were then partly used Tor
business but such added little TO the earning
power Of the structures
IN 1870 there were big real estate spectators
ems investors who thought that this zone would
tr the near future be of the most interesting
On Manhattan Island from the point OF view OF
the speculator and investor. There were signs
however at that time Of serious congestion IN
many Of the wholesale business districts south ol
51th street and that those sections would have 10
se considerably enlarged at early date II suit
sble buildings were TO be erected 10 meet the ue-
rnands Of the wholesale trade Many wide awake
real estate brokers inclined 10 the opinion
that the extension Of the old wholesale mercan-
tie districts would result in the creation OF sn
annex 20 the almost northwest OF It's ou
boundary lines
What uses you'd he made OF the region which
now forms the great Pennsylvania tunnel area
were not easily discernible. and the outlook IN
that section OF the city in those days was SO
gloomy ss cause many big realty traders 10 oe
scrtve far away from that district Inc chleL
reason for this wonderful change which is taxing
Mao. s the district IS that far better suited
than anv other centrally located section for 3 DIG
wholesale trade centre Moreover. the new orlose9
have figured prominently in the shaping OF thls
f.--1torv into its present attractiveness as "hoe
81. 5,s+rir+ The district is nearer TO the Queens
horo Bridge by about mile tnan the older "hoie-
sale section in Manhattan Island II is elso
nearer by about the same distance to the spleh-
did new piers which have been erected IN recent
yes-s by the city and which extend for mora tnan
a untje along the East River from point just
north OF the oueensboro Bridge 1t Is elso hesIeI
10 the new Chelsea pier section The Chelsea ols-
trict really forms The southwesterF poloef I"
this new wholesale trade centre
Though tbs upbuiloins of the sectlon oe'"eeH
sss and Ss4h streets has attracted Widespread at
sent5on the development Of tbs district along lS
present lines is only in the initial stages Z rom
now until all the tunnel plans OF the FenhsyINsli0
snd the Long Island railroads and the Hudson &
Manhattan Railway Company are perfected 1nls
-cton Of tie greater city is going 10 furnish many
fz items Of realty news may be that the ouilo-
srs of lcf+s and stores there have got sucn II III
foothold that the projectors OF other centres u INC
zone viii have 70 limit their field o. scuViues 10
lessor area of land than they expected Some
-. sxo There IS not the slightest doubt That
hsg +-anzen4 hotel centre will almost SURROUND the
.ss1e-lv end Of the Pennsylvania terminal sIauoH'
<us+ as big transient hotel centre is oppoelUe 6io
also sust west OF the entrance 10 H4e
Central Station The principal theatrical cenI@
which is located IN the heart OF AianhAN'@ ~
a. ,.o ssnr 70 be extended If present real estate
I conditions are harbngers Of future uanlns' so as
20 OCCUPY many fine plots OF lano near INC Fe
tylvaria tunnel terminal site -.
som. real estate students also think that Iho
ANS@-~
> %ne retail shopping centre in Seventh aVenue
north of s4th street and south OF 40 street
nEA4s IN UPPER ST. NICHOLAS AVENUE
,z,,,. .,e ore-ations which rapidly changing
49,, ,,bz,sical characteristics Of this new nidto"n
trade centre are among the prlnclph o
tho real estate market. the activity OF ouloeiS anu
,,,rve-s i'm St Nicholas avenue. as We'll as lnNes'
-nent purchases IN the central FlI'h a'el'Uo O
trlct are Of equal importance
The volume OF trading in St Nicholas avenue naS
not received the attention due 10 It as the business
transacted there this season mas usually O0o
s--oype5 under Washington Heights rrallsaClloHS'
7-,,e-e are many aIluring investment and specu-
lstive sections Of Washington Heights but 9uos
.ne from the quick market for properties IN IhaI
fine residential region, thoroughfare there hoios
q higher plsce in the estimation OF many Dig ouAd-
.rs and investors than ST. Nicholas avenue II
- ,a-r of the wear trading in the local mar
n1e+ was notable for deals the Heights, and es-
-,scaJlv IN St Nicholas avenue AT tnls season OF
che wear when most OF the big realty leaders are
usually many miles away from the scenes OF ther
resItv achievements, the market for St Nlcholas
avenue properties su brisk This activity plain
lv indicates that large numbers Of buyers have
r,oztponed vacation trips TO remain II the CITY, IN
order 20 perfect plans for the purchase or the I'M
provenent Of sites with large frontages IN INC
thoroughfars.
. +.trlv accurate idea of the volume Of trading
q, rnre- ST Nicholas avenue this year may be
had bv referring 70 SONS Of the princlpa1 oeaIS
s~ecrtng sites there which have been made The
Henry MorEenthau Company recenty sold 10
rs.,vv = Fufunan tbs block front the westerly
,t6. OF 81 Nicholas avenue. between 'slst and lS5d
x+s II has q frontage Of 800 feet end depth OF
100 feet On that plot are 20 be erected TWO hleh
class elevator apartment houses Mrs FRANK Les
lie also figured IN q deal n the secuon le0enty- G
fhs soId q lot at the southwest corner OF ST
Nicholas sverue and 1Asth street TO builder Inc
ns,. which has q frontage OF 25 feet and oepth
Of 100 feet. Is 20 be improved IN the near Au'ui0
with six story apartment house
A,a.her recent deal n the district was the SAFE
So .b. estat. OF Philip Feuring TO the Newton
Holding Company Of a plot l0xDS 1eet on tne
essf-rlv side of St Nichols avenue 70 feet south
10 r77st street That was the first sale OF tho
property since 1888. .
p z Wood e. Co. recently sold for the Jonn d
r.ern Conservation Company the Hearnchn.
- 80 Elevator snartrnert house on plot 90 by
.aa 1eet The house Is No. $50 St Nicholas ave
nue. Nyron z oppenheirn recently sodd tne ma
,,ennolrt q six story elevator apartment mousse at
,h. northwest corner Of St Nicholas avenue and
lsoth street The building was erected al a COST u
x2oopoo from plans by Neville & Basse-
r~rese,5ck a Grossrlucs recently sold a plot %
b., 1na feet on the easterIy side Of St NicholaS
.-,s-,,,. inst south 1z5th street TO the swift
rsriIdinE Company, which VIII erect on the ste d
sly story elevator apartment house
- tLo r-,rcinaI deals in the district made
..s- year vas the sale by Gustavus L. Bawrence
- Franklin Petit OF q plot eS by 20 feee Al uIe
tL1zss+ corner of St Nicholas avenue and 10th
erect ar Lawrence bought the property aoout
q year ago from the Falcon healty Conlpe1s' ,nl 49,.
so.ber hiz transaction in the district was tne
=, r. che Willie Construction Company OF the
= s.o-,z elevator apartment house at the soulh-
&C, corner Of St Nicholas avenue ano ls5tn street
7. ss an plot 100 by 200 feet All OF the stores IN
.. h1g1lding were leased soon after the building
was completed ,s. ,,.,.-
1..,- . Mot l2sx124x irregular, on the easteriy