The New York herald., 1921-01-16

One of the most calamitous predic-
tions regarding the end Of New York
city, and often expressed by timorous
but well intentioned country visitors. is
that If many more subways honeycomb
the ground and ambitious men OF
Gotham don't stop trying to hobnob
with the clouds in such gigantic Office
buildings. the very earth under them
will either crumble or sink because OF
the terrific weight and what was once
the metropolis of the world will then
become desert of ruins or an expanse
of salt water.
Somehow these direful prophecies
have not lad much effect in the way of
putting n stop to the erection of tail
buildings even down in the toe of Man
haitian, where it is popularity supposed
the acme of skyscraper development had
already been pretty nearly reached.
Every time an old building was torn
down in lower New York a new one. at
least three times it's height. generally
sprang up.
Country visitors are not the only crepe
hangers when IL comes TO limiting the
future development of downtown Man.
haitian. For number OF years even
hard headed real estate experts have
shaken their heads and remarked that
the toe Of the island Is getting so con-
gested that It Is doubtful whether many
moro tall Office buildings will be erected
there. They reason from a business or
economic standpoint, In which the cost
Of the land and tho doubtful wisdom OF
investing in extra tall buildings play an
Important fact.
Whether or not the geological founda-
tions OF rock ribbed Manhattan Island
are equal to the strain. man continues 10
gamble on the chance OF disaster and
during the last year or two. in spite or
the all too well known handicaps 10 the
building industry. the section of the
island below Fulton street has witnessed
epochal building projects.
Unprecedented demand for space in
which to house the undreamed OF COM
merce driven TO our shores by the world
war caused most of this spurt in building
activity at time when the cost of
building was prohibitive. Many Of the
individuals or concerns who bearded the
labor lion and wiggled their fingers in
the face OF alleged combinations to boost
the prices OF building materials weren't
taking so many chances as the uniniti-
ated supposed. A majority OF the big
gest buildings were started after the
owners had been practically assured OF
financial risk after, Wen say, five or six
years This was especially true OF the
structures undertaken by shipping con-
Germs. The marvellous growth In ship
ping interests during 19i7-19f9 enabled
them thus To insure themselves because
OF tho incesshnt demand for more space
on the part OF these lusty young world
trade concerns.
The accompanying map clearly shows
how much OF the new building has oc-
CURED In sections hitherto overlooked.
tapping over even as far toward the
Hudson as Greenwich and West streets
and south as FAR as state. Whitehall and
South streets.
The biggest and most important down
town building operation of course is the
giant twcnty-one story Cunard Building
now nearing completion at 1927 Broad
way. southwest corner of Morris street.
extending through to Greenwich street.
and occupying half Of the large oiock
bounded by Broadway. Greenwich street.
Battery Place and Morris street. The
famous old Stevens House Hotel aud
several other Broadway landmarks were
demolished to make room for this struc-
t,ire which will cost about 5000. 900.
AZ the northwest corner OF Beaver
and New streets tho Standard oil Com
pany Is erecting n twenty-four story
building. which will cover the site Of
s to IL Broadway and I to Beaver
street. 10710x7a7 This Improvement
win cost s3.00oooo
Ground has bcon broken for the three
story Curb Market building at IS TO sc
Trinity place. almost IN the rear OF
Trinity Church. The structure will front
1910 feet on Trinity place. 1871 on
Greenwich street and will have north
crn line of 1914 feet. It is expected that
the curb brokers will be able to move