New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-12-31
CHANGES IN VILLAGE :"
Groups of Large Fireproof
Lofts Built Here.
Charles r. Duross.

Another year has rolled around, and the
always interesting subject OF real estate il
up once moro for review and forecast. The
Ia st year has not by any means been one
o. booming activity, although the lower
West Side has gone steadily forward. in
spite of many drawbacks.
The Greenwich Village section. which lies
between Sixth avenue the Hudson River
and north OF Canal street to Goth street, has
seen many new buildings erected and leased
in the year just closed. Trinity Corpora
ton alone has built and leased no fewer
than six or eight large fireproof loft and
store structures.
No fewer than a score OF others nave
been built In this area south of lith street
This section is particularly we'll adapted to
several lines of business and manufact-
uring. The wholesale drug manufacturers
are settling in and around West 10th street
waverley Place and Christopher street west
of Sixth avenue These firms, such as the
Davis-Lawrence Company. the Fellows
Drug Company and the Perdue Fredericks
Company, are not coming 10 this section as
tenants merely, but they are buying land
and erecting their own fireproof buildings
which means permanent investments.
Other trades coming in are the wholesale
grocers, liquor dealers poultry, beef and
provision dealers. Greenwich Village is
particularly well adapted for shipping, both
by rail and water. as all the railroads and
the largest steamships are right at its door,
K is also in the centre of population or the
greatest city. and close by is the financial
district There are few advantages which
the Greenwich section needs before IT VIII
reach it's greatest development. The local
organization of property owners and resi-
dents known as the Greenwich Village I'M
provement Company Is doing valiant work
to bring about these very much needed de-
velopments First is the extension OF Sew
enth avenue down through the 9th Ward
to meet Varick street. thus opening an ar
terry for traffic from downtown to the Penn
sylvania Station and northward Second
the West Side branch of the subway. which
Is talked of as coming down Seventh ave-
nue. from 42d street. The subway question
will never be settled until this line is built;
and. last. the adoption by the city of Dock
Commissioner Tomkins's plan TO build an
elevated freight railroad structure In West
street, to be used on equal terms by all the
railroads coming into the city.
This plan cOnteHpldtes tne clcCOoH VI
large freproof warehouses, either by the
railroads or by private capital, for the ac-
commodation of such freight as may come
into New York on the different railroads.
This scheme of Commissioner Tomkins. to
my mind, would be one of greatest beneht
10 New York City. The plan is to have
spurs running from the elevated structure
into these large freprOof warehouses built
along the tracks. and thus save the usual
heavy expense of trucking from freight
houses TO warehouses. These improvements
are bound to come in the very near future
and then the Greenwich section may as
sumo a place of commanding importance IN
the real estate field There will he great
chances for profitable investments. There
is plenty of good property to be had IN TINS
section at prices lower than in almost any
other section Of Manhattan. Now is good
time for wise investors to make purchases
which later will turn out to be very valua-
BILE property.