New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-13

profits are assured, II is thought, from
the moment the proposed building is in
Inc making.
The really company bought not long
eco an adjoining site with a frontage Of
% feet IN 18th street and OF about p feet
IN Nth street. It's combined parcels form
plot Of 90 feet in 5sth street. and of
about 8 feet in 57th street A. y, Glitter
man was the broker in the sale last week
II was also reported that sketches had
been made for twelve story apartment
house Tor the plot The. house is 10 have
az small suites as those structures re-
Gently completed further south in the
Us between Eighth and Ninth avenues.
= Ever since the work OF assembling a
plot In 5Sth street, between Eighth and
Ninth avenues. was begun some years
Ego by Huberth & Gabel for William
Randolph Hearst, as a site for a news
paper office building. the fear has been
expressed that the .suitableness OF the
rseet for home purposes seemed about
y disappear.
Other forms OF commercial buildings
have also threatened 10 replace the long
lows OF old style dwelling houses there.
sit Is the southerly part Of the thor
oushfare that is most suitable 20 builders
81 speculative apartment houses. II is so
for many reasons.
The dominant one Is the rapid transit
links Of the district Within a short
Falk is the 5sth street station OF the sub
way, many surface lines and the Ninth
and Sixth avenue elevated roads.
There Is a strong and growing club
cs7tre not far away. There Is also the
northerly part OF the great Fifth avenue
stopping section. the central Broadway
eStrict, with its numerous automobile
Salesrooms and garages.
Among other great physical assets are
central Park. the high class apartment
and hotel centre at 57th street and sey-
snsh avenue. and the proximity OF the
main theatrical section OF Manhattan.
TIE second reason. almost equalling
sae hrst in importance. is that the south
fry frontage OF 18Th street is an integral
pan o. the northerly lots in 57th street.
1ais Is getting the full measure Of prop
s'n value from the angle OF the apart
lEeft house builder.
All apartment houses are CLASSIFIED as
"nsment houses. and a tenement house
Sssnot be erected higher than one and
s'e-naif times the width OF the widest
ertst on which IL fronts
Sxty feet wide is 5sth street: one hun
1'ec feet wide is 9TH street BY adding
18th street frontage to 18th street
~ The plot can be improved with 80
tees structure. Omit the 9th street plot.
80 the 18th street cite cannot legally
improved with an apartment building
Saxt exceeds ninety feet in height
.Diagorolly opposite the site on which
se Eea Realty Company will build IS
r Princeton apartment house and the
49, side branch Of the Young Mems
NHiFtan Association. tt
%ost OF the old dwellings in 57th street,
eFssn Eighth and. Ninth avenues, are
s1r'shed room houses. Although they
ave Few modern conyeniences. they
ssftheiess are quickly rented at about
room week.
me premises No. sa7. a four story
sNsnirg house on lot % by 1908 feet.
ss sold In March last by an estate to
aasnry Moeller for 1880, or at about
$50 front foot. That is perhaps a
Mtss less than the present market value
Similar lots.
me property No 3os to So7 West I'D
aset vas bought last week by the An
+ony canpagna Construction Company
oarh siawson & Hobbs and Earle &
-'aeun from various owners.