The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-23
VINCENT ASTOR~ NOW CITYS LEADING BUILDER, HAS NEW
OPERATIONS UNDER WAY WHERE HE is SPENDING $4,000
POLICY inMan-
agement Of Vast
Estate Produces
Startling Results
-$5,OOO,OOO In.
vested in New
StructuresDurin
Last Two Years.

AoSS WV ~
Vincent Astor must no longer be re-
ferred to only rs the c!ty's largest and
wealthiest landowner. lie IL more than
n land owner he II n builder. developer.
maker OF values, upholder OF sections
and "A city bcdutiier. This tall, quiet
young man who a few years ago had
thrust on him the management of one
OF the most valuable estates In the coun-
try has proved himself equal to the
task placed on his young shoulders. He
has surprised New York. for he has done
things which no other Aston has even
attempted
He seems 10 have thrown to the winds
che old policies OF the estate which were
extremely conservative. In their place
IN has introduced modern policies.
which seem to indicate that the Astor
property will he modernized. Buildings
which have overstayc cd their usefulness
will be removed and new ones erected
in their stead. Vacant property will be
developed In accordance with the char
ncter of the adjacent section or In a
manner heht;ing conditions. SO radical
and sudden has been the change in the
estates policy that most real estate
men and the general public have not
awakened 20 the fact or to the .Aten. Of
the operations which have res Ilted from
the change.
Many structural operations have been
launched since the young man took In
hand the helm OF his estate. which in
the past has been held by old men tied
up in conservatism so great was this
that they would not even talk about
the plans OF estate outside the room
on the second floor front OF the Aston
estate office at % West Twenty-sixth
street. Information, II made no differ
= epna hnps ipzivpitgYuI WAS refused With
: as much seriousness as II on this infor-
: nation depended the entire fabric OF the
. vast estate. The present Mr.. Aston has
; changed all this. The story goes that
:. II hampored him so much when he took
= charge that he threw Il bodily over
board and introduced progressive policies
which were IN keeping with his ideas
OF how his estate should he shaped.
At the other side OF the helm Of the
estate he has placed Nicholas Riddle.
an outstanding young In years. hut
old in the ways OF business. especially
real estate. Showing the healthy tint
OF a man used to outdoor life II must
have been a relief TO him to be free Of
the close policies which had guided the
estate. the manager Of which he had
been FOR years. Real estate men are
surprised that ne did not lose long
ago his progressive ideas. which to-cay
- are seen in every move OF the Astor es-
tate. Together the men have done
things which have won for the Aston
estate a feeling of friendship. which ex-
tends through the city.
No only real estate brokers hut shop
. keepers and fiat renters reflect it IN
their praise. 1t is so different from
what was the feeling toward the estate
for many years that II Is surprising.
When Mr.. Aston undertook the man.
agcment OF his estate he had a big task
before him. II WAS not only big in a
business way. but. being youns. his ability
was put TO the test. II was the com
mon saying at the time that his sec
retaries would look after matters for
him" In other words Il would he n
secretary managed estate" which from
q tenants standpoint ~ rarely salts
factory, for the reason that the men in
charge do not want TO assume respor-
sibilities. Mr., Astor rs lot OF the absent
landlord type, but 4 man who IS on the
Job, thiukiIs out ard planning with his
young adviser Mr.. B'ddlc. ways and
means for hetter,ug his estate finaD
cially and physically.
The result Of his planning Is evident
IN many parts = the city. Here he h1'
erected a loft building. there an apart
nent house another place another kind
OF building and in another place sill
another type Of structure. Unlike tho
El'' 'bH.'AMN ffo 'l'h ~ 60
varied. He builds In a section that
which he thinks the section needs need
which arc determined sometimes 10y q
y rsonal study of rs conditions aud oi
the views OF Mr.. Riddle and architects
OF standing ard position.
Only the h'-t type az structure T.
ever erected, for It's AN uuwrii-,u rul,
of Mr.. Aston and his adviser 10 tOlor1j
10 lufor.O" construction. 1t IL to guar,
against this that architects Of the hes
populations In town are employed b,
tho estate. The employment OF GOO
architects Is ia hccriu" with his pro
Cressl,t IDEAS, a. il Is the estates ain
TO produce buildings 'qutl 20 II not bet
ter than is no.ChhoIs. This Is not ~
ambition born Of q desire FOR praise o
to be the owner OF sensational StruC
q. lures, but on the sound business thocr,
that the best will produce the best re
turns and for q longer period, Goo.
buildings add value To his lold!u-,
better the ne.ghborhood and incrcas0
the income to IN" city. At the same tim
establishing a precedent for buildcrs {
follow. thereby heautifyiuE as well a
uplifting the section. What Ninceu
Astor has done In upbuildlng the cit,
could not be duplicated by anoth"
builder, nor by several builders, becaus
OF the capita! Involved.
g More than 100000 has been appro
priated in the last seven or e,gh
months for buildings alone. one 0
these operations is 20 cost Sl,JOD,0u'
1t is the apartment 10 be erected on Tn
east side Of Broadway from Eighty
ninth to Nlneticth street. Then tNore /
The building on the site Of the Asto
House, which Is TO cost S6oU,UuO, an
the market al Broadway and Ninety
NTH street. plans for which We're file
last week. Oue Of thes" operations. III