New-York tribune., 1911-10-29
WHERE MORE FLATHOUSES ARE NEEDED
District from Park Avenue to Exterior Street North of 42d Street
About To Be Rebuilt Extensively.


lI-N -
" the East side districts. between 42d
and l25th streets. there are manifold oppor-
tunities for making over at big proht
rows of oId-fash'oned flathouses, or lot
getting larger financial returns by re-
nlacing the structures with buildings with
spacious living and sleeping rooms.
Putting a new structural garb on the
zones should be done In wholesale fash
ion and attended to as quickly as possible
IN order to get the fun benefit OF the low
cost Of building materials. 1t is long
time since the price OF the majority OF
building materials was at such low mark
There is a cairly good demand for prop
critics in the zones number OF important
building projects are being carried out the
money channels for owners and construO-
ton comvapies are satisfactory.
Prices for Land and old structures VIII
hermit Of improving many blocks with fiat
houses Of the best type For up-to-date
,e,ement houses there are no better rental
6lstr,cts a new house honestly put up Is
generally entirely leased from the plans.
rh,s Is not a strange condition in the dis
tricts; II has existed for many years. yet
in spite Of IT the districts have not been
advanced 10 that building strength which ls
theirs by inherent right.
The location OF the districts is all that
could be desired by speculative builders
looking for good realty chances. And their
transit links while much inferior to those
of the great West Side. with its subway
and other routes. are many. They are
Going 10 be heightened. too. by the building
Of the Lexington avenue subway. as advo-
Gated years ago by wideawake realty men,
and II is likely that a more modern rolling
stock will be put in service on some OF the
surface lines. which have plenty Of an
tioue cars. both in summer and winter.
Being a pioneer in a new business or
residential district appears to suit large
numbers OF construction men better than
helping 70 mould an old home place into a
charming residential and business section.
That is one Of the principal reasons given
for so many clear eyed and brainy realty
operators not being active in these districts.
The underlying cause in recent years.
however for those places being kept with
most OF their out-of-date building garo was
the stupendous amount Of work that had TO
be done elsewhere and accomplished as
soon as possible. Included in this work was
the transformation Of the northwesterly
OlNlSlOn
words. the Washington Heights and the
Dyckman areas. into worthy annex OF
the West Side apartment house zone from
6sth street to l25th street Moreover. CEN
tral and easterly sections Of The Bronx
were brought into closer connection with
lower Manhattan by the opening OF the
subway in 1904. and consequently the choice
vacant plots along or near the subway
route could not remain idle any longer. To
make them productive sites they had TO be
improved with hathouses or apartment
houses or with store structures.
Just prior 10 and after the opening Of the
subway all realty walks, or. at least. the
most attractive ones, led to the most north
erly baniwick Of the greater city, to the
West Side above seth street TO central and
upper Broadway and to the central Fifth
avenue shopping section.
Millions Invested.
Millions were invested IN those parts OF
the CITY in the form Of unusually large
auartuent houses and hotels, private dwell
ing house projects. automobile structures
and stores and offices for central Fifth ave-
nue., which has since become the best high
class retail trade shopping centre in this
country.
From everywhere money seemed to pour
into the real estate market that the spar
kle and volume Of this phenomenal build
ing and investing period might not grow
less. Never before in its history was
bigger sum spent in a similar time for con-
sIuction work
Almost as quickly as the houses went w
buyers were found TO take them from the
builders One would have naturally reached
the opinion after a rigid survey Of condi-
:. tions then that the sudden, though not
Nlnexpected development Of the most north
Lrly territories would seriously affect rent
. ais in the older bailiwicks But no sweep
ing reductions in rents in old home section:
took place. Increase in population was
large enough 10 furnish tenants for the
new houses and to keep the old houses a.
WELL filed as ever.
About the time when some OF the north
erly realty operations were losing thei
vigor. the tunnel plans Of the Pennsylvania
and Long Island railroads stimulated buy
ing and building in New Jersey and Lonl
Island suburbs, and a little later the sub
urban trading Of all kinds reached nev
high record marks, and II was accom-
panied by most active realty days for tn
hourishing and beautiful Borough Of Brook
lyn.
At such a time when the drift Of opera
lions is easterly and westerly in the sub
urban regions it is useless to hold aloft thu
home and business advantages OF the Eas
Side baliWicks between 59th street anC
125th street, east Of Madison avenue, II
hope Of changing the tendency Of affairs
and getting for the districts their due share
of attention. Follow the lines of least re-
sistance and keep as close to the centre
of activity as possible are two realty ak
IONS which are never forgotten by sue
cessful traders.
Some men can create favorable building
conditions for themselves. and for the av-
erage real estate man. and also centres
of intensive buying or development. They
are the realty leaders They 90 not seek
advice. but thousands surround them,
struggling 10 obtain their views and help.
They could unQuestionably have removed
long before this numerous old-fashioned
fathouse rows in the districts and thereby
hastened the day when tine larger parts Of
these centrally located HE and business
zones will be Attingly decked In a modern
building form, and one which will raise
its earning power much higher But these
leaders were too busy in the northerly
building and buying operations Of the boom
period seven years ago, in the suburban
expansion that followed, and in the many
months devoted to readtusting affairs in
the days Of the financial depression in
1901 to spare many moments TO the upbuid-