New-York tribune., 1912-02-18

In Eourtb avenue. from Union Square 10
S3d street one OF the largest. most lmPos-
ing and valuable loft and office centres IN
this country has been built within the short
space Of five years.
And only a block west Of this wonderful
business district is the lower Madison ave-
nue. section. which was for decade or
more exclusively residential. but Whlch Is
now rapidly losing it's old and famnar
building characteristics owing TO the IN
creasing demands Of retail and wholesale
business
II already has some splendid office and
store structures of many stories In the
near future II will have many more.
Among other substantially built and pop
ular loft districts in the greater city which
possess ell the essentials necessary TO at
tract and to hold growing manufacturing
concerns is the Irving Place, which is just
east Of Fourth avenue and is virtually
part Of that loft section.
When the northward drift Of wholesale
jobbng and light manufacturing houses be-
came extensive the Irving Place section
discarded large part of its old building
form TO put on a new structural garb. 1t
did that work In most up-to-date fashion.
The Northward Drift.
Much has been written in recent years by
well known brokers and other realty ex-
perts about some of the principal causes
which led TO the invasion of spectators in
the Fourth and Madison avenue office and
loft districts. and which was followed in a
short time by the replacing of many land
marks with big commercial structures, rep
-
These articles contain a part of the realty
record Of one of the most important build
ing periods in the history of Manhattan.
The substance of them must be known in
order TO get a correct gauge Of what was
done In the districts and what the future
holds in store for them.
Before the opening Of the subway in 1904
the lower Fourth avenue district was ON
the beaten path" Of wholesale business. So
was Madison avenue So was Irving Place.
Fourth avenue was mainly bordered by old
dwelling houses. some Of which had been
converted into nathouses. with stores on
the ground floor
A drowser business thoroughfare than II
was IN those days was hard 10 find in old
New York
Stores bulgine to and beyond the street
line with antiques were among it's land
marks. and those articles "of the dim past
seemed TO harmonic In most striking
manner with the building fronts. and also
the general atmosphere Of the place. Few
realty investors were there.
Up 10 that time New York and its thou
sands Of daily and weekly guests took their
reckonings from Broadway. All the ave.
nues were east or west OF Broadway. Visit
Ing merchants still get their street bear
ings In the same way, but most Of them
are now familiar with the other principal
tnoroughfares Of the city.
In the words Of one Of the most success
iui operators. "out-of-town buyers will
now 90 miles away from Broadway II there
~ only slight chance Of them meeting
"i'h some merchandise bargains" and that
u one Of the chief factors which brought
aoout the creation Of big modern whole
sale and retail trade centre in Fourth ave-
nue. ana the changing Of Irylns Place
Hoin a quiet residential place into an up
"-oate business region.
Maybe this part that Broadway had In
Aeeping the biggest and the longest estab-