The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-18

AWSON PURDY. president ~ ~
Department Of TaNeS and AS
IL sessnents, In an article pre-
pared for these columns several
weeks ago said tina. there would be
slight Increase in the C.ty's real es-
'ttr assessments during the next few
years. except as the result OF building
operations. If that is the case Nanhat-
tan Island at least should continue to
show satisfactory advances during the
neat year in the value placed on its real
estate by the city. fOr already there are
under way or about To be started build
ings Of total estimated value of more
than $50 900 900, and the season IS only
approaching when speculative builders
AXE on old or vacant properties for i'm
provement. In some ways the present
year promises to be notable: partly be-
cause of some of the new structures
that are to be produced and partly be-
cause of certain types Of buildings
which will not enter extensively into the
records.
No January in many years has seen
such an array of high class buildings
waiting to lie shaped as has been pre-
pared for at this time. Not only Is
building on the boards which will out
reach by many feet all present day sky
scrapors. but a building Is In process OF
formation which will equal in cubic con-
tents eleven slSyscrapers of ordinary
SIZE. This year will see the erection of
tho largest clubhouse in the city, besides
new hotels, great apartment buildings
and private dwellings of size and cost
to give them first place among build
inss Of their kind. Adding to the list or
buildings already planned those which
are certain to be erected this year but
for which no designs have been pre-
pared. the total increase In Manhattan
Islands value already contemplated al
ready amounts to more than 100000
HoH, These operations too include only
buildings on which the city levies taxes.
Were the list to include public. educa-
,onal charitable and religious buildings
the total value would be half again as
much.
~ private enterprises there are al
ready sixty. ranging in cost from $780,
600 to $4,000, 900. for which architects
have been selected. Plans for many OF
these buildings have been filed and in "a
number OF cases construction is already
under way. There Is no doubt that some
Of these structures are going to increase
present oversupply of space in certain
classes OF buildings. but builders and
mortgage money lenders are satisfied
that there will be a demand for the
space created AZ soon asgeneral business
returns TO normal volume, and so this
great construction goes on. The cost
OF buildings erected last year was
slightly over s7O,OOO.o0O, the smallest
total for Manhattan Island in ten years.
Structures already arranged for to be
put up this year will cost more than
twice last years total.
The big Equitable building. to be
thlrty-six stories high, is undoubtedly
the largest ard most costly OF the struc-
tures to be produced this year For
several months work on the foundations
has been under way and tentative plans
OF the structure have been with the
Bureau Of Buildings for some time. The
structure will be this years product
however. and will add something like
sl4.000.O00 to the value OF New York
city buildings. 1t IL this structure that
In size will equal eleven such sky
scrapers as are to be found In the vic'n'
ity OF Wall street. Nothing like 1t has
ever been attempted and 1t is likely that
many years will elapsc before larger
structure IL erected. 1t took an I'M
usual combination Of capital to promote