The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-18
Liberal Use Of
Bright Colored
Paint Turning
Sombre Looking
Section IntoPleas
ing District...
Many Leading
Concerns Moving
Into Old Mercan-
tile Haven

The old mercantile zone has been out
hack IN the running by a band of
psintsrs n gallons and gallons Of
paint Middle Broadway and Its neigh
boring streets have stopped losing value
since this band OF mechanics with their
paint cans came on the scene about a
Dozen months ago. The influence of
bright paint Is everywhere to be seen.
Broadway, Duane, Walker. Lispenard.
Canal. Howard, Greene. Mercer and the
o,har streets have taken on n remark
abs rev appearance. The sombre old
mercantile atmosphere Is no longer so
evident. Instead a wideawake TWEEN
tsth century appearance Is creeping in
and all over the district.
u IL probably the most remarkable
comeback IN the real estate history OF
New York. Not a similar incident can
he recalled in the last quarter century.
dur.ns which period many sections have
sid Up and down the thermometer Of
real estate and business popularity.
From a territory which had practically
lost It's last shred of real estate worth
a. we'll as business reputation it has
reya,red In the short period OF two
years a place on the high road to the
~pinnacle position which II held in the
business ae.d Of New York city before
the northwGrd trade migration cf ten
years ago stripped II OF much Of Its
business population. The switch back
has been 80 sudden as to amount 10
complete revolution. 4 doomed locality.
4, once again holds a position In COM
nercial New York.
I. Is Questionable II the public out
eide Of tho dyed In the wool real estater
has appreciated that up TO eighteen
month"; ago lofts in Broadway build
,,s, forlrtrl" worth $1,000 could be
had A, rentals much less than those
prevailing In Hoboker and many parts
q: commercial Brooklyn and queens.
Paint has JUS, added from 80 to 200
pe- cent. 20 the value Of these work
shors. Two years < d lot whicn
t-oucEt $500 in the old days couid
be rented for $500. To-day 5000 Is
being received for these premises winch
are the same except for some orie n
paint and minor structural changes ae-
uanded by the labor law.
MANY pereons Will he pleased TO sec
Broadway and its neighboging streets III
the I'D mercantile compounds once again
n leading locality lii busting NeW ft''
Sentiment leads them to "cl! "ish 'hi..
part OF town, because. OF the pa't IL
has played in the Development OF 'he
city and ~ long time as the n'ercah-
tile centre Of the Americas. ror uecdurS
II vas the HON. OF the leaders IN every
branch ~ the textile industry ot me
United states. Through II passed mil
hons AID millions OF dollars worth or
business wear in and year out. It's ran
from the ~iu.tiest and lowest II an ola
s,ory. Ever real estate man KNOWS
u. II L. q repetition Of "ll*t mas nap
pened time aud again N talLuuS parts
Of Ne~ York. but not 50 noticeable! as
In the Broadway loca!!t! Ne OF lis
prominence In the business environment
OF Manhattan.
Refusal 20 comply with economic de-
mands brought about economic changes,
The subway and the building Of the
Pennsylvania station made several up
town sections attra tive tor business de-
yslopment structures were erected and
the old mercantile distric: was picked
cut ae the recruiting ground for SottinS
tenants for tines, structures. An easier
fed could not have been desired. Rich
and powerful conc rms. s,nhrtilg under
the indifference Of owners :" the con-
ditioa OF their buildings. stepped ont OF
the old zone. and with them vent Others
snd ,ti'l more until the northward ca
odus became a regular movement a
parade.
All Who remained were "A. y. Claim
Ard several concerns IA that particular
i!ne. M other conce ms awaited the
movement Of the Claim firm. which only
= few months ago decided TO remain at
It's old stand.
Paint saved claim and the Others for
the old gone, which Will be a most im-
pprt.ut nucleus for Il new mercantile
centre n can be seen that paint has
done What realty experts and thei" n>ny
cures have failed to do. Every known
remedy for SAVING sinking Incomes WAS
brought into play IN the old zone, but
! r"msiNed tor paint and a band -
PAINTERS to bring cheer to the hearts
arl smiles H. 'h. faces 90 many owner
VINO have spent upward Of six years
t''nhlns. worrying and planning ways
and means foI RESTORING incomes from
bindings formerly realty gold mines.
The story Of the beginning of the sal
'sllpn ~ the fOrmer mercantile centre
e warped In mystery. No one seems
70 know Just when or where or how II
GOT started. Neither can any one ha
Wound "a claim credit for planning II
II IS Just one ~ those movements which
started II it's own accord and spread
through the district until now there are