New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-31
MOVING DAY REVEALS
HALT IN TRADE EXODUS
Most Loft Leases Begin Febru-
airy !, Although Migration
Started Months Ago.
SHIFT NORTHWARD STACKS
Auctioneer Believes Tendency
To Go Uptown Has Reached
It's Zenith Owing to
Improved Transit.

Tomorrow is moving day for numerous
mercantile concerns, as many leases OF
| loft structures are written from February
But one will see few hurrying vans
laden with Office and factory furniture or
carts with heavy machinery The busi-
ness moving day is rot like that our
srandmothers experienced. nor is it at ali
similar 10 that which the average rent
payer Of home encounters when he
Seeks a new address.
Business removals usually occupy sew
erai months. owing 10 the size and weight
OF machinery to be set I'D and tho array
Oh iedsers and other office books and fur.
hituie to be placed in the new home.
Inc migration from old to new sections
generally begins about November I. and
ny CHRISTMAS most OF the migrants are
iairiy comfortably established in their
new berths. When February comes
'hey leei thoroughly at home in the build
ing in which they are tenants.
II business houses changed their ad.
dresses IKE individuals it is likely that
fepruafE would be a day of riotous
scenes IN New York. Streets would be
impa>sable' damned with wagons, trucks
ana vans. shouting drivers and i'll tenn
/ pered guardians Of the peace.
! Many old business concerns which de-
eide TO move go to their new homes abou,
November, occupying them rent free I'M
! III FEBRUARY !, thou. this concession
hardIy Offsets the cost OF moving and
holding & lease on the old home. But il
II Is newly formed concern or one from
out OF town 1t may begin TO pay rent as
soon as it sets foot in its new home.
IL Is probable that loft leases will one
DAY be written from May I. as office
leases are. In some sections of the mid
town zone. especially the lower Fifth ave-
nue. area, many store and office leases
are now dated from May + If this
| prophecy is realized New York will have
only two great moving days-May |, when
lawyers and others who use Offices find
new quarters i'm skyscrapers, and Octo-
Der ], when tho dwellcrs of apartment
houses and hathouses change their adj
dresses.
In regard TO the loft situation Herbert
A. Sherman, broker and auctoneer. said
yesterday:
There has been marked improvement
/ IN the loft rental situation in tho la CT
few months. The larger occupancy has
/ not yet. however, cauSh, up with the sup
/ ply, IN" loft districts being somewhat
! tophcavy. especially in the central zones.
whore there has been so much speculative
nulIdlnG in recent years. This oversupply
~ proving very beneficial TO lessees, as
/ thcy can got moro attractive rentals than
! they could some years ago.
! thlnk the craze for moving northWard
mas ABOUT reached its top notch mark
ana that the future Will see old estab-
!ishod firms remaining where they have
! been for years and expanding there I'm a
building sense. TO meet their necGs There
might have been cause for old firms de-
, sorting their old premises some wears
ago. but the transit facilities Of Mauhat-
tan are such that one district is amos, ~
Well located as another. And drlImnors
tell mo that they would much prefer to
haN" ~" business area confined within its
present limits They do not want To look
ont Of the rear or front rooms OF the biz
, midtown hotels and see the workshops Of
their clients. In other words. they want
a grander building view from the hotels
they patronizc.
William J. Kudner, Of George T. Read
& 60, said:
We have d number Of buildings Of the
loft type IN the Fifth avenue district.
from 9th to 3tth street There will be
few changes in that district. as the leases
are dated from May +. Tho situation
there is very favorable FOR putting up
more mercantile structures which will be
used almost entirely for showroom pur-
posog