New-York tribune., 1912-01-01

realty affairs and also by several realty
leaders that the city was little top heavy
as regards modern office buildings and had
many more paIatal apartment houses than
IT could profitably maintain.
No decline in apartment and office rem
tails took place, but there were increases
I'm nearly every part of the principal Office
and residential centres of old New York
and of the other bOroughs.
The value of land and building through
out the city was considerably enhanced in
the last twelve months.
Large budgets of sales and increases i'm
thS number of buildings and cost are eX
pected this new year in every section OF
the city. and there is not single sign that
the expectations will not be realized.
Had a, False View.
The daily lists Of brokerage business of
the year are forceful reminder that the
volume of big sales made in the year was
fairly good. and that fewer brokers would
have talked about woful realty trading if
they had not lost correct perspective Of
realty affairs.
New York has grown big so rapidly that
sale of an entire block, Of a modern sky
scraper in the heart Of the downtown dis
OI
voiving million or more is no longer con-
sidered specta Cular in realty circles. And
even the adoption of newer realty methods
which will have wide and permanent
effect on the future physical character Of
the city. does not create a furore and fur
nish a topic for discussion for weeks, as
innovations in methods did a decade age.
The realty market now gets uneasy and
oil, tfc1
as spectacular does not happen frequently.
The market was particularly noted in the
year for flurries of widespread activity on
Manhattan Island, fairly well sustained
volume of speculative and investment bust
ness in Brooklyn and successful enlarge
.ment of the manufacturing and residential
zones of Queens.
Richmond. too. was a lucrative field Of
operation for many builders and buyers.
The Bronx, however, was somewhat lag
gard and dil not contribute it's usual quota
of sales Dulness there was mainly attrib-
uted TO the attitude of hundreds of specu-
lators. who are more "at home in that
beautiful borough than anywhere else, who
were trying to determine the probable ef-
feet OF the new subways and other new
transit facilities on the growth of the Dor-
ough before becoming again prominent
buyers there.
Flurries of activity in Manhattan often
came unheralded, and disappeared in few
days A lull of some weeks or month
usually elapsed before another long list OF
sales was reported or the details of build
ing projects of large proportions were made
publtc. 1t is years since the market had
such sudden, vigorous awakenings, and
then lapses into the most peaceful state.
The primal cause of this vacillating char
sctsr perplexes the realty student and ap-
pears to be hidden. II the realty business
had been well scattered throughout the
year the attention of brokers and every
other person identified with the market
would have been almost continually centred
on realty matters, and there Woulo nave
been no time for the spreading Of pessimls-
tic views
Some Realty Achievements
Among the most important features OF
,ssItv progress last year were:
The enlargement OF the Fourth avenue
retail district some of the towering lolt
strpct,Ires there being sold by speculative
builders to investors.
The northward drift Of retail business
IN the central Fifth avenue area, the ban
AGAINST business use at last being re-
moved from the easterly block front III
FIFTH avenue from 52d to 5Sd street. OPP
posdte the homes Of w. D. Sloane Mor'of.
+. Plant, william X. Vanderbilt sr., ana
jr. ..u.o.
Expansion Of retail business In the street
arteries OF the Fifth avenue shopping zone
retail business threatening to occupy IN
about five years many sites In 5Ith street.
betreen Park and Eighth avenues.
The spreading out of the cooperative
apartment house colonies in the Park ave-
nue. region north of 57th street.
An invasion or apartment house builders
I'm West End avenue. just north OF ga
street.
Transformation OF a big part OF ola
Greenwich Village into stalwart loit dis-
trict.
Perfection OF plans for adding to the area
in the downtown district occupied by SKY
scrapers one OF the projects now Wen uh-
der way being the Woolworth Building al
PARK Place and Broadway. which VIII be
the ta,lest olicc building in the world: an
other providing modern home at Laperly
street and Broadway for ,he Guaranty
Trust Company.
New theatre structures representing an
investment Of many mlillons III uie PiH"'i-
nal amusement zone OF the greater city
The replacing OF many old business build
1ngs and nathouses i'm the East Side, south
of nth street, with playhouses. the total
cost OF which will be more than million
new high record price for an Inside
Fifth avenue plot few weeks ago when
s70O, 900 was paid for the five story dwell
ing house, No. AS Fifth avenue. on plot
sSxIOo feet. II was sold by Tucker. spey-
ers & Co for the Brady and Kip estates
20 r. V. and j. n. Burton.
Fifth Avenue Sales.
The following Fifth avenue properties
changed ownership In the year:
No. r. ten story apartment house.
through George e. Baldwin TO the Waverly
Realty Company.
Lenox mansion. four story dwelling, at
the northeast corner Of 18th street and
FIFTH avenue, which was owned and occt-
r,led by Thomas f. Ryan 70 Henry Corn.
No 14s. a four story building. by the l4s
Fifth Avenue Company to James f.
Meehan.
No. 1871 ten story business building, by