New-York tribune., 1911-04-23
Effect OF Overbuilding.

re most unfortunate effect Of such over
rldlnc IS nearly always seen in the re-
E.ung character Of tenancy Of such build
rs The excessive increase Of rental area
ssdenlv irt-c.luced into the locality neces-
| uriv demands a considerable widening or
ne demand for tenants. and as these are
., 10 be found waiting on the sidewalK
. a- such cOn7eniences. they have 10 be
ought and indiced 20 enter upon ten
ncv of This particular locality by various
oncessions or advantages, which are
ar9wn in and become deductions from the
znials
Thus. tenants Of class totally different
% shat which has accompanied the growth
o. the neighboThOD3. and which has aided
| 2 is increase Of values. are brought into
ne vicinity bringing with them very often
Isuitable acc0mpaniments. resulting IN
gradual depreciation OF the character Of
ne entire locality, or. at least, change in
is character which affects neighboring
Businesses and forces them 70 change their
Character.
i has ieeu very common 70 see just
Uch occurrences along the line Of Fifth
avenue A builder or an architect uses
vsiaable site amidst surroundings Of well
Snowu ard Wen developed character. which
o. his avenue have generally been the use
o. the street -r0ut FOR retail sales purposes,
ald erects. iu the midst Of these conditions.
harrow. lofty building of the cheese box
type, anywhere from ten 10 twenty stories
L height. -lus doubling or quadrupling the
ron "a ~ =
Lon
The building thus erected has. in It's
upper portion. generally. as temporary
yerggis.te. the use Of side windows. enjoy
1g light which is practically stolen from
Is n,ghbors This is utilized as one OF
es Inducements 10 procure tenants, ana
YER naturally appeals 20 that class who
eoSt require the use OF light, and thus IN
roduces into q nesghborhood not otherwise
ETed 10 the PURPOSE some form OF manu-
ae,rrng. From this cause Fifth avenue is
tTesent u0uce9bly suffering, and the eI-
hH are plainly 10 be seen in the presence
sErse numbers Of employees brought over
ahe centre Of the city 10 engage IN the
s'essses OF manufacture, which could and
nsd be better carried on elsewhere, II IL
's'e not for the effect of the operation or
"srouilding
such operations as described are nearly
ways qorarily successful, but eventu-
sY result in loss and depreciation. The
toien light = destroyed by the construction
heighbors Of similar characterize ex-
ssive amount Of rentable area created
~S 70 enter into competition with otner
'-oessiye amounts in SIS immediate neigh
"'hood-in other words. as has been point
= eot by a recent author. the facilities or
7s framed construction have placed IL IN
y power Of a single property owner 10
Ns~'e dlspropOrtionate competition. al
sSely affecting neighboring property ana
"en'uaily rejecting on the building
Slch buildings must inevitably lose the
,'ah,age of novelty as time proceeds, ana
~ tnsn become a heavy burden upon the
'rrly they occupy. BY reason OF re-
ing rates Of rental they become a less
0'Aoie Investment and when change
evidently desirable and necessary they
- locked up so much capital IN their
,suuctlon that their renovation becomes
great a burden for the unfortunate own
TO carry.