New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-24
Bv FRANK REMLIN.


Many real estate experts are seeking
the correct answer for the query
What has the future in store for the
Chelsea section?" The heart Of the
Chelsea section is at 23d ST. and Ninth
ay., the boundaries Of the district
usually being considered 10 be l4th and
Bath SITS. Sixth av. and the North
River. with the old retail shopping CEN
tire in 23d ST.. from Sixth 20 Fifth avs
forming a part of IT.
Uncertainty as 10 what will be the
predominating building forms in this
division of Manhattan appears 10 be
indicated by the many differences OF
opinion on the subject heard IN realty
circles. But why this doubt IN sec
ton which for some years has been
drawing within its borders many pro-
gressive Wholesale houses and manu-
featuring concerns, long located IN
other central places in the borough
II is all too true that the northward
removal of most Of the Leading dry
good stores. that had helped 70 BRING
fame TO Odd ST., between sixth ana
Fifth avs, as a retail shopping ZONE
OF the best class, was quickly foIlo"eu
by sharp decline, and, in many cases'
a precipitous drop in values on the
south side Of this section OF 23d ST.
Granted, also, that this 23d ST. shoP-
ping zone cast its beneficial influences
in the path Of many owners or adJoin,,
ing property, still it is very douotlui
IL the same influences stimulated any
upward realty tendencies some oIochS
west. Further west, along Nlnth Avp
these factors must have been hardly
ever felt, from the day that Z5d ST.
began TO be respondent "a shopping
section until its power and lure as such
began TO vanish in recent years.
l. is only natural that many owners
Of Chelsea sites many blocks from the
heart of 23d ST. and Sixth av. called
attention in describing the location
and the probable future earning power
of their properties 20 the tact tnaI
their PREMISES were within short DIS
lance of the heart of the Sixth aV'
sbonninp centre and almost similar
distance from the principal intersect-
INC streets OF the leading theatrical
area of the town. However, the old
earning power OF their properties. eX-
cent in a few instances, did not depend
mon their nearness 70 the shopping
1one hut. on the other hand, on many
permanent neighborhood factors, ana
one of the most important and iorcetul
~ them was the situation OF chelsea
in one of the most central parts OF
tho CITY Other big factors were tne
nrovimitv of the section 70 the ola
Gountown Wholesale produce and mer-
camille shipping places, 20 lower BROAD
yav. 70 the railroad, passenger ana
freight terminals Of the greater CITY
ard 10 the main westerly gateways
IN the New Jersey districts. Nearly All
those factors are powerful In the sec
ton to-day, some more potent IMAM
ever before.
In 20 about ten years ago there were
,Isntv OF good reasons for wondering
n Chelsea was ever going 70 De the
scene Of extensive speculative bulldlngi
~ IN would add 10 its assets many mod
orn loft buildings. for showroom or
other purposes, and II desired and
NECESSARY twist in the realty makeup
~ the section would take place, so as
70 hiring about the erection OF many
model fathouses and apartment houses
there. No one in touch with realty
tendencies in the district thought IN
those DAYS that an expansion OF the re-
tail shopping area would occur so as
"a result in the improvement OF otner
blocks of the section in similar man
ner. Numerous owners Of more north
erly plots were then laying their plans
well 70 get the storekeepers 20 locate
ON their sites. A strong northerly
movement Of this character was lneyi-
table. and the most sanguine OF tne
Chelsea landlords hoped only 10 delay
the arrival Of the fateful day.
For short time il looked, indeed as
II the coming OF that day would be
placed a, a much later date than pre-
yiously anticipated, owing TO the sue
cesssful carrying out OF te plans o. me
projects launched By William u. NC
Adoo, Secretary OF the Treasury TO