The sun., 1910-12-04
TRADE SUPPLANTING VICE
L.A.HDM tRkS or THE OID TE>-
DERI0IN ARR NOSTii COVE.
Con, -r>Ion of Maito~n ~rr,Io" sni" .
s'onnirrria, Centre l. Rrnect'd 'n
Heal Estate Price, waiter Nho
tsrr~ Nirh vu 81 q DaJ i.rasr.

Probably No. quarter &C this town hl~
ever undergone - remarkable chahS"
m 40 short time ~ that RuilC"nt II me
P.nnsyIvanit -tn.or Fight years ago
h was the. r-ndrrloIn ot tn" CItT l"-naN
n !, . looming m.rCantil" 'entrr. i"r
which brilliant expectations are eater
tanned
Here We're the mos, notorious oi gam
bling houses. all night dance nails anu
dives: and here, was ho'i-"CI IN" mos
populou- colony of und"nrabl"- I" u"
found IN any American city. IN" COLONY
has been all but wiped ont and Tia" hnlk
of the dance halls has been replac"d hS
merca nt,l.. buildings or converted M"
shops The ,raffic in VIC" has been IN
large par, driven oTi by legitimate TRADE
"A more, proilia ble because less hazardous
industry.
Every important change III tine condl-
ton. and prospects OF a nclghOorhood -
recorded in its real estate values. 4
vivid impression Of the marvellous trans
formation that has taken place within
the sphere OF influence Of the Pennsyl-
vania station may be obtained by oo-
serving the upward swing Of land prices
in the last ter years.
In 1870, before the Pennsylvania tunnel
enterprise was announced. 5000" 10
SOS 900 would have bought any house
in the crosstown streets necr S-Hen'h
avenue in either direction TN lhirty-
second street between Sixth and Sc""n'h
avenue. $500 front foot was coa+ .f"~"d
a big price Sine. ;h.n more than 5000
"A front foot has hCcn paid th"r"
1, il safe to say thai property within
IN. parlIlalogram bounded by foi -
second - rect. Twentv-th!rd stree. foirih
ayent,. and Eighth av.nu. has increased
from ~ 70 ~ per cant ON" viii ~'lrch
the real esl ata history of thu town M Tain
10 end a section of similar eVi"n' iA".
has Increased in value or IN commercial
prornIrencr as rapidly 80 This dis, riot
Gre.siey Square. Thirty fourth 'tr'"t
and Fifth avenue were OF no great coh-
ssauenc" eight years ago. Greel"" Slulr"
wns surrounded by few hotels the
Standard. Theatre. Trainor's restaurant,
and a number OF old fashioned buildings.
Now !, l. the Creates retail mart N 'h'
COUNTY,
F!arkinS the square are S;hs's. Macy =
and G,rnbal's and a short distance "aS'-
ward are Altman's. McCrcery's, BonwIt'-
Tel,.r, Revii'icn Frrrcs and other stores
of country wide fa:I:e. \ hotel twsnt''-
TWO stories high and costing 5000. $50
- to :,c erected OF the MCAiplna property
on t,,,. nas- s,d, of Broadway from Thirty
thirc, 20 Thirtv-fourrh street and big
Office building il TO replace IN" old Dune
Savings Bank Building on the south side
OF Th;-ty-third street between Sixth and
avei.ur and BROADWAY. With the -Oai-
ple. on OF these two operations the entire
conYlaxion of Greeley SGuar. Will be
changed
Th, Dime Savings Bank property was
bo.ch, about year nEr hy Edward
H.d.e- Cuthbertson and Charles Kauf-
man. English capitalists for s,.jO0.0oo.
which il a; the rate ~ s375 squar. foot
The EngIishmcn had heard O; the Penn
sylvania zone and having come on 10
inspect lt- Investment possibilities were
content to pay record price.
At the northeast corner of Seventh
aven,l. and Thirty-third street. Just
oro,si-e tho main enrranc" 10 the Penn
sv,yania Station. is "a sit" which measures
ae nv SC ,ee,. Il Increased in value ac-
cl-,.tng to expert appraisers l1s per cent.
be;yvrer 1908 and 1893 II. 1908 IL was
valued. ~ Slb".-p. IEI I'S sIoJp'ss
ions a. seSi. .3ac H. 1905 at $3.50 la. and in
,oos at SI93.7-?. Alfred Sp1;t- bought the
properly bout four years ago for Sio0 ."c1
lie sold - 10 Ran7Id Macdonald for
SASS 600 Mr. Macdonald sold II to "A Mr..
CASSIDY for 3ijO. 900 Mr.. Cassidy now
wants $500 900 Tor the plot.
Property or Thlrtv->ec0rG street be-
,wesr the static. anc S:Ntb avenue Is
t.lc al fro'z Sec to So q SOU r" foot.
E.ch. years ago. before :hs Pennsylvania
velop:nent. 81 to So a square foot would
lave bought any hous. IA ia" block.
" ise and No. ios West ThIrty-second
street, rvo ramSha CNIr houses occupied
nv negroes were for sale n 1890 ~ SO .OOO
aacn. Afrsr the Peun>y!variI plans were
made p .hic the owner bsi"d hts time. bit
finally pir-ed with the tw" houses at