New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-29

This is the time OF the year when the
,,siorjtv Of we'll known real estate eX-
,arts are bombarded with queries as TO
What district will be in the near future
,bo most inviting so spectators or opera
tors The REPLIES usually show large
variance OF opinion. for there are many
.pelas al which realty affairs are seen.
and what one person mignt consider
roaltv attractyeness OF high magnitude is
from another point of view OF much less
charm.
once I'm a long time occasions arise
,~oon even any one not identified win
the market can tell by clancing at the
sales REPORTS where the larger number OF
buyers are. and when. presumably. the
profits Of speculation are large ana easily
obtained
one OF those occasions was the boom
times" in the northerly districts of Man
haitian and IN The Bronx which preceded
and followed the opening of the subway
I'm 1901. Everybody Of some years expert
Cuce in trading was in those sections
then. and thousands of other persons On
tered realty walks at that time, so great
was the glamour Of speculative opera
tons and so numerous the possibilities
Of making money FOR beginners.
At that time the majority Of traders
we're Of one mind. The most inviting dis
trict 10 investors and spectators was
mat formed by the most northerly region
Of Manhattan and The Bronx.
Now, however. buyers are not close TO-
scther as ia the original subway epoch
and there is a marked tendency 10 get
further apart, because the building ana
buving activity cover a wider course than
in many q day and there are more CEN
tres where here IS healthful vigor and
which possess characteristics which arc
largely different from those in other ter
Tiiories.
Opportunity awaits the careful trader
almost everywhere.
The field of safe speculative operations
has become so broad that the answer to
the question Where will be in the near
future the most inviting district to specu-
lators and investors" depends upon the
source from whence It came.
Undoubtedly those who had q profitable
stay in the Fourth avenue loft section
would reply The Fourth avenue dis
trict"; those who are busy adding 10 Their
bank accounts by construction work or
sales or investments in the great Fifth
avenue retail trade district are sure that
that is the best of all places. and The
specialists Of uptown operations could
hardly be expected, owing 10 the strength
of the realty situation there, TO advise
any one 10 get outside of the boundaries
OF that centre.
The general real estate situation may
aptly he lkened TO the man who had so
much TO be joyful for that he could not
tell his neighbor what one thing male
him feel happiest.
II the opinions Of all the big realty
operators could be collected. It is highly
probable that most OF them would say
that the signs Of the times indicate that
section which Is going 10 be most
prominent i'm the trading Of the year IS
that bounded by 10th and seth streets,
Fifth and Lexington avenues. The inhu-
cnce Of the Greater Grand Central Sta
ton is largely responsible for this CHEEKY
outlook there.
The station improvements radically
changed the building aspect Of most OF
the blocks east OF the old Park avenue
cut and north OF the yards Most tax
payers have still a vivid recollection of
what feat il was 10 get buyer for
property just northeast Of tho station
about five years ago. Sales in that part
Of tie district were rarity, and sub
stantial building operations few and Tar
between.
Owners there were deemed unfortunate.
They are not considered 50 to-dey.
Rather are they looked upon az being in
tho favored circle.
An evidence Of the changing building
characteristics Of the easterly division OF
the distCic- was given last week by the
sales made in East SD street by Moore d
Nyckoff for clients 10 investors who will
erect on their sites nine-story and base
ment family apartment houses.
with the changing Of the motive power
Of the trains through the Park avenue
tunnel from steam 70 electricity the