The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-08-25

been swept away by the outward rush
OF its FORMER population. Lean years In
the business world increased the hard
ships OF the owner In the old zone. New
concerns were not being formed, and
those In business were conserving their
finances and holding on to the premises
they had. 1t was truly a deserted MI
iage. The situation had reached the
pomt that real estate men advocated as
q means OF producing some income that
the old buildings be made over into
.ehements for the use OF families whose
members were employed In the general
neighborhood. Scrubwomen EMPLOYED
IN the ohice buildings at the lower end of
| ehe city would prefer this section for their
homes rather than the extreme East and
west sides. as 1t was near and the
nscadway car would take them directly
10 their work. The suggestion was not
carried into execution fof%some reason
which has never become known.
Al any rate the tide has now turned.
Tor the old district RndN business and
vaiue are coming back. The war has
placed a great premium on business
space. and naturally vacancies in the
old district have been taken I'D, but at
nothing like the rentals paid lin other
zones.
A buying movement has been deve,op.
Ing In the district and the opinion of
the real estate men who have been
active there Is that It will continue
until the district Is once moro one of
the principal business and investment
locations OF the older sections of the
city. Prices are now considered about
right which Ii sufficient inducement
to the average real estate investor and
SPECTATOR. Confidence in the new fu-
ture Of the territory, II seen in the fact
that several properties there have been
sold and resold several times. each
time at better figure than the previous
one. These transactions cannot be &C
cepted by tho old owners IN any other
light than q censure. 1t happens that
every building that has been put In
good condition, modernised as much as
1t Is possible to modernise. has been
sold without much effort and at a
pront. 1t would seem that lack of
| modern improvements was all that held
back the district. Now that up to the
minute real estate men are In the
section the changes already noticeable
will be even more SO. because they
are doctors Of real estate and will
anxlyse the ailment Of the location and
prescribe for It
Tho treatment % far prescribed seems
to have been successful % thsrs Ii little
reason for doubling that the old district
Reasons for thinking optimistically Of
this location are to be found In the sale
records for the last twelve months.
Only those who have taken the trouble
to enumerate the transactions recorded
between June. 1917, and June, 1918.
will know that there were elshty-eight.
many of which affected several build
ings, There are few business sections
which can claim greater trading than
this. OF course there Is the possibility
that some of the deals recorded did not
mean a change of ownership. but real
estate men who have worked through
the district say comparatively few of
the recorded transactions are what may
be termed waste sales.
Wooster street seems to have been the
most active, as sixteen transactions were
recorded for, property on that street.
Mercer street came next with fifteen
deals. and along Broadway from Canal
- Eighth street transactions affecting
fourteen parcels were recorded during
the June to June period.
Statistics show the following prop
critics were transferred during the year
Wooster street, 23. 81, ~ and as. 81. 10
and 70. 7s. so and SO. $50. l4s to l63.