New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-26
Topics Of Discussion
in ReofTy HfGb10ayS
The Effect of Big Buying and Building Oper a
tons on Trading in Greater City.

of its natural advantages. Is one Of the
cities I'm which living expenses. both for
food and rent arc excessive.
As 20 his Views that rents are excessive.
not an up-to-date owner has yet been found
who agrees with him.
No builders trust or coterie OF owners or
mysterious and enchanted circle Of mort
gage men dictates tho rental power OF
any kind Of property. Tho upward trend
OF rentals IS due 10 the rapidly increasing
value 81 building sites. IN" higher cost
Of construction, and demand and supply.
Tho majority OF property owners are get
ting an cquable return from their invest
mcuts. and nothing more. Here and there
some cxorbuant rentals have been asked
Iosse,s wanted 10 rent the properties and
none others. even though lower rentals
and more favorable terms MS regards need
ell or desired alterations were 70 be had
Notwithstanding h.s assertion that Excess
slyc rentals, his plans for public terminal
markets arc heartily approved by the pro
gresslvc associations Of owners. brokers
and other real estate interests.
Several OF the New Jersey railroad
companies" says Commissioner Tomklns.
have made strenuous oudcayors 10 induce
the commission merchants IN New York 70
receive their produce at the Jersey tcrm!-
mails and truck It across the river on the
ferries. but so far this movement has not
met with much success. / think 1t Is more
than questionable whether business can be
conducted as cheaply outside OF Manhattan
as on the island under the plans Of the
Dock Department"
The nOrthward expansion OF residential
centres is reelected by the inadequate ele-
yator service Of the lSlst street subway
station. The station was opened in 1896.
with two elevators In operation. In 1910
two more elevators were built. and now
these elevators are crowded I'm the rush
hours. Two new elevators are expected 10
be in before fan II the Board OF Estimate
ana Apportioumcht appropriates $1,000 for
this work.
In 1851 l.37SlS tickets were sold at the
station last year, 4,il3,eJG.
These are only few OF the signs which
indicate speedy change for the better In
the lot OF many owners OF apartment
houses on tho Heights with too many va
cancies.
OF course, brokers will differ on the
question, who got the best realty bargain
this year," Nevertheless. most brokers
would loudly say. II they could muster
sufficient courage, that John y. Jaryie got
one OF the finest which the Manhattan
field has ever furnished
His bargain" was the Tefft-Weller
Building. No. 326 TO $50 Broadway, which
he bought in January for $4,000.
In 1901 several appraisers estimated the
value Of the property at l,200,O0O.
Mr.. Jarvle recently leased the property,
through the Charles +. Noyes Company, to
the Tower Manufacturing and Novelty
Company Ire aggregate rental Will be
about 100000. 4 structure TO be known as
the Tower Building Is to be put up on the
site for the lessees from plans by Goodwin,
Starrett & Van Week. II viii cover "A plot
of II. so square feet and viii contain about
70 900 square feet of space
one OF the most interesting reviews OF
realty progress in The Bronx last year was
that Of tho real estate committee OF the
North Side Board Of Trade. A description
Of the growth In the shopping districts was
in part as follows: MANY new theatres.
such as the Prospect, Loews, the National
and the Mckinley Square, have been
erected. and several others are in course
OF construction. number OF banks have
Increased their capacity or moved into new
buildings erected for their sole occupancy
New churches have sprung up as new
centres OF population have been created
Prospect avenue, at l6Oth street, and
Southern Boulevard. at the junction OF
Westchester avenue and lS0th street have
DEVELOPED into important commercial com
tres
"Our shopping and amusement centres
make Bronx residents less dependent upon
Manhattan and are attracting thousands of
families who otherwise would not come"
The committee will have material for a
much more interesting report Tor this year
as the estimated cost OF buildings planned
for sites In the borough since January is
1874 for tbs corresnonS,ny 9 psrod pro