New-York tribune., 1910-01-16
MANY BUYERS ACTIVE
TRADING IN DISTRICTS NOTED FOR BIG
SALES LAST YEAR
Opportunities IN Some Other Zones-Big Investment and
Speculative Deals Reported Last Week.

The popularity OF the districts in which
many millions were spent last year in inn
proving sites is increa sing. rather than di-
ulinishing.
There were no signs last week of large
numbers of operators and investors getting
far away from the well beaten paths along
which the greatest volume OF business
transacted in the previous year. and the
prospects are that. regards Manhattan
and Bronx trading. the purchasing and
building operations from now until late in
the spring will be principally in the zones
in which considerable change in the sky
lines was made last spring and fall.
Undoubtedly there are many large sec
tions OF the city, which ought to attract
big buyers and builders in the near future,
IN which there have been few noteworthy
realty projects launched in recent years
One of these sections which ought TO prove
most profitable field for many classes OF
builders is the Third avenue area from 14th
street to z2d Another is the old Greenwich
Village district. and still another the old
Yorkville. Moreover, there is the central
eastern district just south of the easterly
approach to the Greensboro Bridge. which
IS virtually part Of the Yorkville zone,
where there have been for many months
almost innumerable opportunities for re-
placing old fiathouses with modern tene-
ment structures, old store buildings with
new business buildings and old factories
with up-to-date loft structures.
In this central eastern district few
operators and SPECTATORS who did not
heaTken 10 the call to join the ranks of
the invaders IN the central Fourth avenue,
the irving Place and In the Pennsylvania
Tunnel Terminal zone have been busy
for some time buying many choice parcels
These inviting but almost inactive districts
going 10 be rebuilt a splendid SCALE
but the time when that Transformation will
take place is. 1t appears. at present entirely
dependable upon the lessening of the vigor
Of the purchasing operations and also upon
q decrease in the opportunities for spectac-
uiar deals in the new midtown loft and
amusement centre.
The city is in need OF vast numbers of
more modern tenement houses In central
locations on Manhattan Island, and il
suitable sites for the erection of such
structures are not TO be found in the dis
frict just south of the easterly approach
TO the Greensboro Bridge. in the Third
avenue district from 14th street to 42d, and
in the Greenwich Village, then no sites
measuring up to the requirements will be
found anywhere else within the bounda-
ries of old New York.
REBUILDING OLD CENTRES.
Notwithstanding the natural charms of
the newer residential regions of the city
and the great area of land there TO be i'm
proved, the building expansion IN the newer
districts Of New York in recent years has
not overshadowed the rebuilding and the
enlargement of the older centres.
In the last five years hundreds of land
marks in the old financial district have
been torn down TO make way for Office
buildings of almost record height, long
rows OF old fashioned buildings in the old
wholesale districts have been replaced by
mercantile and storage structures Of great
size, both as regards width and height. and
scores of old and well known hostelries
have been removed and in their places
etand hotels which have many times
greater room capacity than the previous
buildings the plots and whose cost rep
resents an investment of many more mill
ions. And, furthermore, the great West
Side north of 59th street. which five years
ago was looked upon as a wonderful build
ing creation, as regards apartment houses
and apartment hotels, now contains several
apartment houses which occupy an entire
block and which were erected in recent
years.
Truly old New York is being rebuilt on a
inoet eAtehSlFe SCALE ana lhese repullolng
projects are only the forerunners of what
the near future holds in store for the Man
haitian districts Of the greater city.
A hig purchasing operation in one or
more of the districts where few big buyers
have been in recent years and where con-
ditions are so favorable for successfully
carrying out such undertaking may be
leading feature of the great real estate
market this year. A short time prior to the
ending of the old year there was a slight
furry of realty activity in Madison ave-
nue. just north of 42d street, and it was
then predicted by some real estate experts
that this fine section of the avenue, which
had been overlooked for so many years by
spectators and investors, was going to be
the scene Of a large speculative building
movement. Since the furry the district has