New-York tribune., 1910-01-30

There was a good demand last week for
properties in many districts OF Manhattan
Island and in The Bronx which in the last
wear have been marked by interesting pur-
chasing operations and the replacing of old
residential or business structures with mod
ern buildings.
Some of the deals reported affected par
GELS valued at nearly a million dollars. the
total worth Of the properties traded in
being many millions. The activity of build
ers. operators and investors did not indi-
cate a drift from the we'll beaten paths in
realty fields TO zones which have been slug
gish for long time and in which q change
for the better has been expected for many
months
So attractive are the areas Of the city
which became aIluring to operators and
SPECTATORS soon after the announcement
OF the Pennsylvania tunnel plans and the
projects of the Hudson and Manhattan
Railway Company for extending its Sixth
avenue spur TO 42d street and Fourth ave-
nue. that IL is no easy task for the average
trader to wander away from the new busi-
ness centres. the new amusement sections
and the new residential regions.
There are almost countless opportunities
Sor safe speculation in the central Fourth
avenue district, in the Pennsylvania tun-
nei territory In the great amusement zone
Of which Times Square is a part. in and
near the Lincoln Square district and in
many other parts of the great West Side,
especially on Washington Heights and in
the Dycknan region. Moreover, there is
g wide field for energetic spectators and
builders In the wholesale business district.
Just south of Greenwich Village.
Though many millions have been invested
he n]
loft centres. In enlarging the frontage Of
the big wholesale business arteries of the
greater city. in adding to the area Of ground
occupied by modern hostleries, in making
the Sixth avenue retail shopping zone
greater in many respects and in the bring
ing up of the Fifth avenue retail district TO
the high plane that IL now occupies, there
Yet remains q larger amount of profitable
work TO be done in these substantial bust
ness parts Of the city for the present day
school OF builders and Spectators.
These wonderful transformations. cover
ing a period OF about five years, virtually
form only the initial stage of a stupendous
development period in the history OF old
New York. What has been done in the dis
tricts in recent years has been carried
out largely in response TO the demands OF
business houses.
SOME PESSIAIIST1C VIEWS.
In spite OF the bright realty outlook in
these zones Of the greater city and in
nearly every other part Of Manhattan
Island and The Bronx, there many
active traders who have recently expressed
the fear that this transformation work
has been accomplished too quickly and
that the near future will show that the
supply of new buildings erected for bust
needs Of the city. 1t is these traders who
are heard telling one another and all per
sons who will listen TO them that many
speculative operators in the newer loft
centres are bound to be overtaken by
financial disaster. They advance the argu-
Tnent TO sustain their beliefs that land
values iH-+fae new loft centres are too high
TO assure TO all improvers of lots there
profit for their investment. Similar fears
respecting the future of various districts
are usually voiced after every big change
in the physical characteristics Of a dis
trict.
The phenomenal purchasing movement in
the northerly districts of the city, due to
the bringing of those zones nearer 10 the
CITY Hall. as II were, by the opening OF
the subway. caused many Well known per
sons identified with the real estate market
TO raise their voices and exclam that
hundreds Of persons connected with those
operations were doomed TO lose all they
had invested. Time has proved that those
fears were Lnfounde1, for the vast specu-
lative flurries and the big building projects
a feature OF the northerly districts since
1904. have not resulted in heavy losses to
many persons. On the contrary, thousands
0f little and big spectators and investors
have made vast sums of money in the
zones. and the only regret OF large num-
bers Of persons now active in the market is
that they, too. were not prominent factors
In that speculative and constructive period
The big realty leaders and builders of the
present day can take large inactive dis
trlct. and in q few months make it one OF
the most attractive and active, from 4 real
estate point Of view.
OPPORTUNITIES IN FOURTH AVE.
The newer central Fourth avenue dis.
trict with its long rows of tall Office struct-
ures, occupying sites which were recentIv
dotted with landmarks of early New York
is proof positive Of what such men can do
IN a short time. It is this remarkably
quick transformation work which causes
many persons TO wonder whether or not
there are just as many realty opportuni-
ues IN the zone as there were year ago.
There are just as many opportunities. but
they are not as near the reach of what is
known IS the ''.ittle trader" as they were
a year ago. They are further away from
MIN, for the simple reason that values