New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-02-21

To own propcrty in the heart Of the
greater Grand Central Terminal dis
trict is the most ardent wish of large
numbers Of professional traders or
BUYERS IN the real estate fields OF old
tnd new New York.
When once this wish begins 20 take
entire possession Of a person II soon
sfterward becomes the most directing
force In his life Every hour OF the DAY
he works and slaves so as 10 be one day
among the landlords OF this section.
Pitiably abiect are those who are en-
thralled with the idea Of becoming own
ers Of large premises in the centre Of
the choicest part Of the Fifth Avenue
thopping district. But more obeisRnt
and more bending IN form are those
men who feel their realty life will
never be complete until they see the
sun shining on ono or more prop
critics owned by them in the section
with Forty second Street and Park Ave
nue. a. Its hub.
The reason that the wish 20 be own
trs Of property along or near Forty
second Street and Park Avenue on
slaves so many men IS because no other
Tart Of the city has a brighter realty
future. no other district is being more
firmly welded 90 the principal divisions
Of the city and the outlying suburban
areas hy subWsys. and no other zone rs
more centrally located,
Millions have been made in the sec
ton bv many shrewd Spectator IN the
last ten years, and particularly since
the excavation work for the building Of
the greater Grand Central Terminal
was finished. Yet the realty riches TO
be garncrod in the district in the near
fLture will excel, IL is thought, bv many
figures the total profits realized there
IN recent wears.
In the very hub Of the section is 20
b. one Of the greatest transfer
points Of the dual subway route. The
riyer tubes Of the McAdoo company.
which join the downtown Office and the
Sixth Avenue shopping section with
the railroad terminals along the west
erly bank ~ the North River, the pros
porous cities OF Jersey City, HobOken
and Newark, 1.-The Queen City Of New
Jersey and its environs, IS 20 have its
northeaSterly terminus at this point.
The Steinway tube, running from the
Rapidly growing factory and Office zone
OF Long Island City 10 this part Of
Manhattan, IS 20 be included in this
prOdigiouS transfer terminal station.
And from the main subway line, at
Forty-second Street and Park Avenue,
viii extend the Lexington Avenue
branch.
In every direction from this centre al
FOrty-Second Street and Park Avenue
the building transformation and eX-
panslon have IN recent years been truly
remarkable Still, only the foundation
stone for the greater future building
achievements. fguratively speaking, has
been laid. Along the entire Forty-sec-
ond Street artery big changes have TAX
en- place. such as the erection Of the
Aeolian Building, one OF the most valu-
able as well as one Of the most srtis-
&c additions 10 midtown ofhcedom.
Then there is the spacious and attrac-
tive home Of the drygoods store of
Stern Brothers. a building which en-
bodies the ideas Of many persons who
are no noyiees in the erection Of de
partment stores. Even the improve
hents in many other places IN the
upper Forties and on Park Avenue
north Of the Grand Central Terminal
sfe directly traeeaOle 20 the New York
central projects. But IN this analysis
OF the constructive work az the Forty
second Street hub in the last five years
only the important tasks carried out an
the section bounded by Thirty eighth
and forty-Gfth Streets, Fifth and Lex
ington Avenues are herewith described.