New-York tribune., 1910-10-23

Rear estate trading last week clearly re
sected a broader demand for large I'M
proved and also big vacant properties IN
many sections Of the greater city. Wnere
speculative builders and important invest
raenf operations have been features for
some years.
The market last week truly showed not
only a marked improvement in realty al
fairs, but gave 8 pretty fairly trustworthy
sign as 70 what zones were bound 70 be
come brsier building centres and invest
r1ent areas in the near future.
In the present activity tie places of great
-Sr drawing power are those which have
become familiar IN recent years owing TO
tne wonderful transformations in their
building characteristics TO many persons
not connected with the realty market.
Millions have been invested in the last
two years in the central Fourth avenue
sone. from 14th 70 saith street IN fact. the
work done there by speculative builders
has been so extensive that the sky line Of
the entire zone has been almost completely
changed: and what was not so long ago
q dull business district is now one Of the
strongest store, loft and Office sections in
ths midtown area Two years ago there
were many long rows OF old-fashioned. low
business structures occupying the block
fronts n the thoroughfzre, and the number
of modem buildings in the avenue could
be quickly counted To-day the tall fronts
Of many high class mercantile structures
occupy most OF the principal corners Of the
zone. Yet there Is still plenty OF work for
speculative builders IN this part Of the city
This Fourth avenue movement is apparent
y 70 be continued without any interruption
until nearly every available site which can
Germs has been improved along the lines
for which the district is now noted Per
hgps 10 other district OF the city affords
better idea OF how rapidly and wonder
fully the city Is growing than this one
Ard Just when many persons were begin
ring 20 think that the zone had about got
through with speculative building there for
q year OF two, this class OF trading be
cones one Of the predoninating features
o the real estate market.
Along Well Beaten Paths.
The other well trodden paths in the real
estate field Just at present lead direct 10
the great Pennsylvania district, The newer
midtown loft centres south Of the Penn
Eylvazia station and west Of Fifth avenue
the central sections east Of the Fourth ave
rue wholesale mart, the larger cooperative
apartment house area in Park avenue. the
West Side section north Of seth street and
south OF 125th street, the Washington
Eeights zone and the Dyckman region.
Thus Il viii be seen that real estate men
whose activities are responsible for the
present good state OF the real estate mar
ket are going over very familiar ground.
and are ignoring sections N the northerly
residential territories where { big realty
invasion is Yer 70 take place The specu-
lattve leaning is a little bit more toward
rhe business areas. and the investment de-
Eanc greater IN the apartment house and
natnouse districts than anywhere else This !
means that Spectators find that there is a /
large and growing need for more com
rn"dlous modern housings in the wholesale 4
and retail bailiwicl1s, and that the investors /
are becoming more attracted 10 the better
income basis Of the newer apartueut and 1
fat houses Il is good 10 20 over old. sec !
lions or comparatively old paths in new
districts so long as there is profitable ave 4
nues for speculators and investors al /
Inolgh This character Of trading is far less /
spectacular than an invasion in q district
sparseiy settled or sudden reawakening
Of interest in an old section which has long
been dormant from real estate point of /
view.
Sale Involved 100000
As a result Of one OF the transa ctions /
effected n the central Fourth Avenue dis
kr1ct last week e change Of ownership took 4
place 70 one Of the finest corners in the 1
southerly part Of the district About $780, 1
eo0 was involved in the deal The trans 4
action was the sale by Henry Ideu, a 4
Manufacture Of gas fixtures. Of the group /
OF six old buildings at the southwest cor
ner OF 10Th street and Fourth avenue. 4
6chwanemsn & Dierker were reported 10 be 4
the buyers. According 10 the same report 4
they may build in the near future q loft 1
structure on the site. The premises have /
q frontage OF 100 feet on the avenue. 81 feet /
fn 2Jth street, and q westerly line OF lis /
feet DiagonaIly opposite the property. at /
the northwest corner OF 10Th street. q six /