New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-27

20 structures are planned for the
.,,rsl mercantile district, represent
an investment of s5,So5,OoO, one
Sch If the greater city's total
REESE six buildings are twenty
Nv hotel at SD ST. and Broadway to
- q. 5OO.O 600; nine story apartment
20 West 10th ST., seven story eluo
Of Rsrrow ST.. a six story apartment
l,s and 1T West 10th ST., twelve
- hotel at sos West S0th st. and a
Zen story municipal building at lSS
west SOth st.
considering the fact that the cen
-, mercantile district covers an area
- one-thirteenth of that of Manhst-
ubich IN turn represents consider
p, , Iess than one-fifth the area OF the
ss horoughs, the above statistics lndl-
I'VE ~ imnortance of the district 10
ca ostste investors" says an expert
-seltv conditions in the section
on. bird largest single investment in
v.a' Work CITY for 1916 is the s4,ooV,
~ hestlerv. which leads the districts
PTSySlism y. Fitzpatrick, the well known
,.rder recently speaking OF the on
su .1 Mercantile district, said: The Ell
H - The advent of the New YORK
r~.-ei's marginal elevated trelgnt
~. between Canal and Both SITS. VIII
.be upbuilding of warehouses ana
ss.nries on the land adjoining the
',,e The Borough of Manhattan mas
iVsssrsd heavily through lack of freight
sssiiities for the receiving OF the ra"
Tsterial and shipping OF the manu-
s.ctured article within the ouilolhs
.S;cb houses the manufacturer.
Mercantile Disadvantages Here
T1 these DAYS Of keenest competition
.asts must necessarily be kept 10
rinimum. The immense cost OF VrueS-
nc. rehandling, delays, loss ana piean
zoe have initiated against the Nc"
ysrk manufacturer competing win ,ouV-
siders who do not suffer from t.esS
mercantile disadvantages. Inc cost %
tracking alone amounts TO an ehotil'o %.
sgure One large concern whlch leIs
Manhattan some years ago because %
he absence OF freight 1aclilties esei 5
mated its saving of truck ana hihuIeu
charges at 100000 year. ms uIas
s.s' sVnense will be largely eliminated
SS the railroad spurs which VIII enter
~ - buildincs to be erected
~ ov, land values will admit OF rea-
,o,sble rents. With easy ana CON
s.n;cnt access to the North River piers
"a economy and speed secured IN the
s~Sl6inqs tapped by the new frelght
i;.e il IS Obvious that the antiquate,di
ss "a useless buildings on the route VIII
sIu a;.nieced INV a great number of new
tv;iSi5gs of large floor area. There is
an unsupplied and unsuppllaDle aeHahs
g., sncb space. Due TO this demand
he announcement of the Greenwich vi
L.. and Chelsea districts, which mas
bHsn bealtbilv slow, will go forward on
Sigb GEAR. A low rent Is gradually
SsTng recognized by the loaning instl-
tstiors as an asset, so that the inahc-
nc of these efficiency buildings Till De
essier than was formerly the case
@The high water mark IN hreprooI
construction has undoubtedly Oeen
reached. judging the future ny tn'
p8st. The buildings which the zen
trails new freighting facilities VIII heIP
reate will represent the acme OF SUN
construction. They will afford the
.avirum of protection TO human life
snd obtain the minimum of insurance
rstes. They will rent most readily ana
move most excellent investments Tor
buyers and loaners.'
Lower Broadway Revival
AZ TO the building strength in the
Greenwich Chelsea district, another
well known man, thoroughly conyersaant
with conditions in the district, mas thls
go less authority than Charles F.
Moves recently declared, 'Broau"a!
from CITY Hall 10 Fourteenth street Is
undoubtedly coming back, ana this Is
particularly true of the middle sectloL'
between Canal and Fourth streets.
new building for the Remington type
writer Company containing 49, VIZ
souare feet at Broadway and Whlte
Street. the purchase of 451-453 Broad
wav. containing $4,000 square feet, by
Lester S. Woodward, manager OF the
Globe-Wernicke Company, and dozens
Of important leases all signify a real
activity 80,
ditions can 20 from south 10 north, re-
fsrrinr 10 sales in the Chelsea district;
more transactions for cash in the
Washington Square district during the
last wear than in any other three pre-
yious wears: a betterment OF conditions
in the long dormant Pennsylvania as
trict. with its new twenty-five story
Printing Crafts Building, and the pig
hotel now under construction opposite
the station.
"Builders see new prosperity IN the
zone regulations Just adopted by tne
Bureau of Estimate, and nearly. SoV,-
100000 of construction is called for by
the readjustment.' III.
Projects i'm the central mercantile
district continue to increase iWpoI
,snt projects registered during, the last
fortnight include the purchase OF
two five-storv flats at $40 and o4'
West Twenty-third street, between
Eighth and Ninth Avenues, by the
Cushman estate. The frontage Is on
feet bv qs9 feet. The Cushman Cor
porstion is one of the largest property
tvners in Chelsea. Owing 10 the
growing demand for small apartment
suites in the locality the corporation
i is said. will improve the plot.
Old West Twelfth Street Church
vest Of Sixth Avenue, has been puT-
chased by a building syndicate when
plans 10 erect a nine-story apartment
With studios and small suites on thls
desirable Greenwich Village site.
To Erect 100000 Settlement House.
A 100000 settlement house, it mas
Just been announced, will be erected
BY Greenwich House at p TO 81 par
row Street The architecture Will mar,
nonize with the charm Of the. OLD req
irek houses in the village, dating from
ne early part of the nineteenth CEN
hry
Vincent Astor will invest s125,0o0 in
ienodelling the old Altman building,
Sixth Avenue. between Eighteenth and
Nineteenth Streets, for lofts in view
Of the influx of wholesale and large
lobbing firms into the central mer-
n Carfilo H. EcounmU Wlp-