The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-05-15
THT REAL ESTATE MARKET
a GOOD BUSINESS REPORTED M
BR0KERS.

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mn Publle asryiee Csinmiullans RaRa ~
4 auoNHy % Qnelns ana ehs estgls
msaa e ths staaIualipEs' stsilss cav
a Nsw seaEt 70 fsNalng y sissa
Two important iisms q news hearing
On the real estate market wore published
Last week. These were 70 the eject that
a plan Tor q subway 70 Queens had bean
taken up for consideration aIad thas The
stoamfttsm' siFako. which has been q
Disturbing GaCioF 81 ire building industry
for some months. had been huOuGht "a
an end.
Ths Pubic Service Commission O. ID
nesting on Friday voted 10 instruct a.
chief engineer % repsEt On tho feasibility
Of rapid iranuit lna gssss tha Raftsry
through Seventh avenue 20 Flfty-pinth
street and thence ioros the onsonshogo
Bridge. The route buiwasn the Bataay
and Ssventh avenue b through Greenwich
street. Wsat broadway and VaEick street..
AZ present there b 10 diFDct connection
between vaFick street. and Seventh ayunua
but the oommiasion assumes that the. city
win extend Sgventh avenue sosthward.
This subway win ,hs II GraAt valhs 10
both borOuEhs. Ths residents a ouasns
have been ealing attention b the fact
that % far no provision haa hesn made Tor
q satisfactory connection batweom. tha
transportation lines conning through and
over the new bridges and tunnsls with
downtown Manhattan.. The aihway win
not only cross al tho north and souah
transportation lines An Manhattan bat
win run through the shopping and smuse-
n1ent centre down 10 he financial dis-
The subway VIII be q tire arse lnpor.
lance 70 The industrial nslFhbofilood
which has already sprung up a ne
Island City, a naighbOrhOod IN which
upward Of . dozen grRat business build
inga are already under construction
lt should also stimulate the growth Of
the Manhattan midtown loft budding
district IN the nelghb0rhOod of the Penn
sylvnnia terminal
The future Of Seventh avenna haa long
been a matter q speculation among rnal
estate men. Il was at one time regarded
az the coming wholesale avenue On
thu other hand the Pennsylvania
terminal win bring a tTun0ndous. vol
ume Of suburban tFaf7lc there which wosIld
make the thoroughfare available for high
class department. stores and hOtola.
The chief difficulty In the way q Ca dsVel-
opment a. a shopping th0roughfAFo. 4
the absence Of rapid transit. Vita q
subway IN touch with the popnlosB colo
mics Of well TO do commuters on Long
Island ard tapping the existing north
and south Transportation lines IN Man
haitian the frtnfB Of Seventh avenue
a. a shopptne thOrOughfarO would seem
20 BE- assured.
Other neighborhoods on the West
Side. inoluding the old Chslsaa and Green
wtch Villages and the waterfront further
south, should also BE- greatly benehted
by this West Side route. The lower West
Side q Manhattan has NOD recently hs~n
subjected 70 speculative Influences.
Prices theFe are low. and thsre IL c0nne-
quantity room Tor profitable buying and
building Tho lower Wcat Side IN FAR
behind the East In the matter nf develop
mant and Transportation ID all that Ia
needed 20 start q TnovemeBt hoOkinw toward
a reconstruction q the nslghboThO0d
AZ q conferences betWeen the repre-
aentatives Of The EnpaFprias Union and
the Master Steam and Hot Water Filters
Association earlier In the week an agree-
menf was Feached by which the strike
that has bsen IN progress for ninstnen
weeks vas finally esttled. The strife
has had considerable inlluence on the
building industry. IL has caused delay
IN the beginning % work on q number
Of proposed buildings. The prospect
o. q strike y always q serious matter
In town like New York. where frequently
a million dollars OF more n involved In
the construction a a new building An
Interruption q work, even u the inter-
ruption IN comparatively brief, means
the lo@s Of q deal Of money In interest
on capital and IN rests.
The fact that the dinlCulty between
the steamhtters and their employers |
has been settled viii no doubt bring out /
work that has hesn held up. Indeed 1
the improvements IN the building industry /
was unmistakabls last week. HtRh pricsd 4
sites we're bought In PARK avenue, Broad
way. RiveTuide Drive and elsewhere for
Improvement with apartment houses.
The demand for plots In the midtown
lCft building district was notable. In
Iced the dealing AZ private contract a.
regards both improved and unimproved
holdings waa hrger than is usual at this
seanon % The year. Il was widely dis
ributed and affected = great variety u
property.