New-York tribune., 1910-06-12

ErcS OF llE TtdA NSNFNtS A--~- -
months. Ten sears sgo the majority OF
these nroiecfs would have been considered
snectsc1ilar. as in most instances the prop
critics affected arc among the choicest Oh
Manhattan Island and are valued at con-
s5d.,atlv more thar S5o0 90 apiece But
deals involving 81 00o.eo0 no longer attract
unusual attention. n takes transaction
hevond the Sla0a.e0o mark, il seems. 10
arouse Widespread interest
II was learned q week ago that the olocK
front on the westerly side OF Broadway
from 35th TO 36th street. on which is The
Herald SQUARE Theatre, had been sold Tor
about Ss.0cA oee. ana that the purchasing
syndicate. of which Lee Shubert Is the
head. intended either TO improve the
rrel1ises with an office building. which
would be attractive to investors. or 10 dis
mise Of rhe premises 10 a drygoods concern
Tn, land and The building would represent
an investment OF about S1o1o0.oco-
This property is located in one Of the
,n+rsncing speculative zones of the greater
-l-v. II forms q part of the heart OF the
Tenderloin district. and the Broadway
buildings face the gay White Way. Yet
this big deal Was NOT the CHIEF topic OF
conversation IN realty circles TOT many
6svs. Ten years ago such q transaction
would have been analyzed at many realty
angles for many weeks, and II would un-
ooubtediy have resulted in the section in
which the property is located entirely
overshedowing the trading in other invest
rneut and speculative regions
The reason that these spectacular pur-
chases arouse less interest is probably due
so the fact that those identified with the
real estate market expect the big syndi-
ceres and individual investors to achieve
greater realty feats than some years ago.
70 FtsIpendous enterprises are not frequent
,v repo-ted st Is then that the entire real
estate market. 90 use Nesev street eE-
r-pssior. ''sirs up and takes notice.
City Growing Rapidly.
rpse n.-suse the New York market must
a. hsx rni,Ss snd rhe glitter and glamour
~ so,crSc-Lz- trading does not dazzle as
n esS = rse -c,S days Il has slso become
r,--s-hz- hs-Ss- - co1Tiacs the average
n,.v~- c. S-cSs- -ASs che present average
xoiu-z- 9. n2S=sSS transacted Is excellent
TAe cicy Is growing almost SIS rapidly as
a. any tine = t-s history II Is growing
ouickly skyEs-s sr6 n other directions. II
ss cstrtnr bsxxe- II the downtown business
ronss. and the central Fourth avenue dis
t-4ct- notwithstanding all the vast BUILDING
r-o,ects which have been launched there IN
recent years, is being CONSIDERABLY en-
Is-sed Beautiful types OF modern loit
buildings are replacing long rows or olo-
fashioned dwelling houses in other mlo-
town loft areas More hotels and once
buildings are being built or will be erected
sn +te near future in the Times Square dis
.-,o+ and many theatrical concerns are
b,,si,,- engaged in adding to the number OF
theatres in this part Of the city. The great
retail shopping district Of central F1fth
svenue IS vigorous from real estate point
of view. Several large concerns have re-
Gently bought sites there either for tner
ovrn use or as an investment. fraoe Is
moving RAPIDLY northward in this great
,boroughfare. and the adjacent side streets
are being considerably benefited by TINS
movement
The time is dra wing much nearer when
18th street now lined with palaual man
sions and known as the centre of the
finest residential district Of New York VIII
be largely invaded by business houses.
Park avenue is putting on new realty
sress In the section of the avenue Just
north OF 5eth street old-fashioned dwelling
houses and hathouses are giving way be
fore the creation Of one of the largest
APARTMENT house districts of the co-opera-
tive type in the greater city.
Millions. too are being invested in apart
r7,eut house buildings and in store struct-
,res in the older parts Of the great West
Side. and large areas Of land on Wash
Ington Heights, In Harlem, in NorkNiIie'
and in the central East Side are being I'M
proved With either modern home buildings
or business structures and investors are
eagerly taking over the finished prooucI
Of the speculative builders and operating
syndicates.
The Bronx also is enjoying = Sood
wholesome. vigorous growth and the chdl
scter OF most Of the structures being put
I'D there is a credit 10 the building IN
dustry of the greater city The type OF
The buildings is better than ever before
Flirnsy work is only to be seen here ana
there and only in sections where consioer-
sble doubt yet exists as 10 future realty
<strscssvsnsss.
The whirl of realty activity is so exten-
sive and covers such wide area that IL
i. really no cause for wonderment that
those identified with the upbuilding of a
district have little time to turn around to
measure the value of the construction work
and realty trading in adjacent or nearby
areas.
Briefly, the city has grown accustomed
20 its greatness, and its attention is not
entirely arrested unless there is a sudden
stoppage Of activity and things assume the
appearance Of moving backward
HIGH Class Sites in Demand.
Tie character of the recent trading IN the
-.sl estate market is reflected in the prop
er1ses sold in the last three months. An
sr,nortant deal recently made was the sale
,y Joseph P Day for the Morgan estate
Of the plot, 100 by 100 feet. at the south
corner of cd street and Central Park West
On that site is TO be erected twelve story
apartment house.
The SO000s0 deal involving the three
Eve story and two seven story old fash
toned Office buildings on a plot SoIl72-S feet
a. the southwest corner OF Broadway and
Park Place, was also recently reported On
that site a big Office structure Is 20 be
erected by r W Woolworth 81 Co. The
site was enlarged q week ago by the pur-
chase Of an adjoining building, fronting
on Broadway
A recent purchase, involving about ssp'-
oae resulted in a change of ownership OF
the old LIotos Club property, Nos b5o and
b.s Fifth avenue adjoining the southwest
corner % s7th street. the. property was
g,cucai by NJ KnOedier d Co. art dealers.
FROM q syndicate composed of the Alliance
Aalfv Company, Heilner & Wolf and Dan
:cl b. Freedman.
recent transaction, involving about
S5ea.eo Was the sale by Richtmyer & Irv-
,nc for tho GlracehuH Realty Company. OF
t.le Britannia. a uen ten story apartment
l.