New-York tribune., 1921-12-11
Buy Realty ON
Heavy Traffic
/ 1Thoroughfares g
James c. Bolger Says Streets
Patronized by Crowds
Means High Rents and
No Vacancies

Any one who doubts that real estate
is not the best form of investment that
is offered, or that it's future is not
promising would do we'll to have a talk
with James c. Bolger, who recently be-
came vice-president of the Schultz
Realty Company, the realty holding
company of the Schultz Cigar Stores
Corporation. Previous to joining Mr.
Schultz Mr.. Bolger was the boss of the
real estate affairs Of the United Cigar
Stores Company. His knowledge of
real estate is country wide. He knows
the best corners in Houston, Tex, as
we'll as those in Bangor, Me.
The eccentricities of crowds in this
city and that city and the other city,
all of which make or unmake property
values, are as familiar to him as con-
ditions in New York. Having such a
broad knowledge of real estate, his
views on New York property condi-
tions and the possible direction of de-
velopment in the next few years are
worthy of serious consideration, for it
is his business to be right on these
things. The expansion of the Schultz
business in this city and other cities
en- the American continent is up to
him.
"Bull" on Real Estate
Pm 'bull' on real estate, and par
ticularly New York real estate,' he
said yesterday. "It is the greatest city
i'll the country
II feel that operators will have a
busy year starting January 1. I also
think that investors will be active.
Prices at which property is held are
too high and rents also are in need of
readjustment in order to promote a
good volume of business. Owners are
not inclined to trade on values that
will permit the other fellow making
things go.
eve are now passing through a
digestive period, which is being accel-
demand for retail space. Periods of
this nature always follow two or three
years Of activity.
81 am inclined to believe that the
upper West Side will be made active
next year by the operations of profes,
sionals. Builders will be seen there
end also in the Bronx.
Business Property Best Buyer
My preference is business property.
| think it makes the best investment,
provided the investor uses discretion.
property on lines of heavy traffic is
always the best, for there is alwavs
market for it. Rarely are such neigh
bors limited to any particular char
acter of trade. Traffic means good in
come and big demand. Values will al
ways be high for good locations"
There are many locations in the city
which are full of promise of early
development into valuable districts Of
nature another hn%
thinks that the most promising is that
between Forty-second and Fifty-nin
streets. from Fifth to Lexington ave-
nues. There will be greater Develop
ment there than in any other part of
Manhattan. His observations are that
it will be wonderful store district. He
says that Fifth Avenue business will
expand into this area and that the
movement, when it starts, will con-
tinue for ten years. The development
of the section will come with the re-
vival of trade which is on it's way.
1t is his opinion that there is not
enough of Fifth Avenue for all the
concerns that want to get locations
there Much of it is we'll developed
now. From Forty to Fortv
fifth streets on Fifth Avenue is a
closed book, he said, so far as new
business was concerned. Attention on
Ihtn avenue from now on will be
north of Forty-fifth Street People
VIII get in the habit, he said, of ac
ceptng the section off the Avenue as
part OF Fifth Aveune
10 illustrate his views he mentioned
Fifty-seventh Street, which he regards
as as one of the most important bust
ness streets of the future in the Fifth
Avenue district.
Forty-second Street is Wonder Street
From Sixth Avenue to Park Ayent,e
on Fl ty-seventh Street he regarded as
= stretch holding wonderful prospects.
Although these blocks are now the
center OF some of the finest establish
ments in the womens wear business in
the city. Mr.. Bolger still holds that
they have not reached the limit of their
progress either from the standpoint of
real estate values or as a business
center.
"Forty second Street is the wonder
street of the city," Mr. Bolger saws
There is nothing like it. Everything
radiates from it and every one seems
to know it.
Business is crowaing in there be-
cause business must 60 where the
crowd is. That is what makes business
and property values. Cheap stores do
not -