New-York tribune., 1912-03-17

type Of lofts Then, II they will visit the
newer loft areas. and talk to brokers and
construction men there they will hear
CHEEKY views about the future and Will see
that this hopeful outlook is well founded.
Activity is plainly visible IN every part
Of the midtown loft zone, and so swiftly
are long rows OF old landmarks disappear
ing as 10 astonish not only passersby' but
longtime residents of the section.
Most persons, who have little knowledge
Of realty affairs, ask as they gaze at the
eross-street canyons formed by modern
loft structures Of many stories, Where 90
the owners Of the buildings find tenants
for their structures?" Even realty men
busy in other districts frequently make
y similar inquiries. because they know that
the transformation of this central region
into a great loft district was begun not
many years ago.
Rapid Growth Of Zone.
In 1870 this section contained compara'
tivev few tail structures used for manu-
featuring purposes or by johbers as dis
play rooms or distributing rooms.
Central Broadway was then the principal
centre for manufacturers and jobbers, Now
central Broadway is antiquated, and the
midtown loft section has taken the high
place as q trade mart II once occupied.
Maybe central Broadway, although IT rs
really a part Of lower Broadway. will re-
gain some Of its old glory If It discards its
old building form and puts on an up-to-
date one
But all the tenants in the midtown area
Old not move from central Broadway ana
adjacent regions Many hundreds are from
out Of town, and many more hundreds are
new business companies.
And the reason that the midtown area Is
eonsideraby larger in every respect than
the central Broadway territory Is that
trade demands of the times are for quar-
tsrs that are not only bright and well ven
hlated but also commodious. All three
building essentials are dominant in mid
town, particularly largeness. Why, the
older trade section would form only iitie
part Of the newer loft zone.
Since the new year the Fourth avenue sec
uon, the central Fifth avenue, lower ana
upper Park avenue, the Greenwich village
the West Side and the downtown office dis
trcts have furnished many interesting and
transactions So the attention of the pub
nc has thus been directed to the majority
OF sections Of Manhattan. In that time. 100.
'he cross streets OF the midtown loft re-
zion nave frequently contributed the prin-
'ipal news items. and. therefore, have
eho"h on those occasions the greatest
realty strength
ihere are many buyers and builders in
We easterly cross streets. and larger
number IN the westerly cross streets of
tnls great trade centre. There are likely
oe many more In both divisions next
week and there will be few weeks from
no" until late summer which will not be
notable for building and purchasing opera
York.
To Tear Down Landmarks.
The old building form Of the Tenderloin is
uooned. Within less than a year the fine
nome Of the police OF the sd Precinct will
" opposite long row Of twelve story loft
oUhoings. 1t would not be surprising TO
nno H. few years hence, lost at the bot
'on' az 1t were. OF a great canyon Of mer-
camille structures. When the iron shutters
VI those big business buildings are drawn
Silence will reign there which will be a
striking contrast TO the noisy night life OF
The old days.
a picture Of the old-fashioned buildings
which will be torn down 10 make room ior
tnese lofts was printed in The Tribune last
sunday. The property is No. ll5 TO l3l
west Goth street, 239.5x9lx irregular. and
was sold, as previously reported, by NJ &
"a Hess for the Chase Realty Company 10
sne Realty Holding Company.
~$Uong other transactions In the lateral