The New York herald., 1922-09-17

OF those concerns have been in the Fifth
avenue center for long time and their
leases in buildings there will expire be-
tween October l and February /. A. i.
Lefcourt, coat and suit manufacturer
the first TO see the wisdom of making
the Pennsylvania zone the center for
making ready to wear goods. predicts
that the day when the trade will be
quartered as far west as Eighth avenue
Is at hand.
I'VE have received" he says. many
inquiries from manufacturers OF women's
apparel in buildings east Of Fifth ave-
nue. for space In our sixteen story
buildings, 287-23s West Thirty-seventh
street and 246-250 West Thirty eighth
street The Inquiries indicate clearly
tho interest in the Seventh avenue dis
trict."
Activity on Third Avenue.
During the last six months consider
able activity in Third avenue realty has
been noticeable Operators and investors
have been about evenly divided as
buyers OF holdings in the avenue along
the length Of the avenue. Among the
chief purchases have been those of ten
ants OF buildings on the thoroughfare.
The operators frequently have resold
their purchases TO tenants.
The invasion Of Seventy street
particularly between Broadway and Co
lumbus avenue. by business has been the
cause of a war between those who would
keep the street restricted to residences
and hose who would have such restric-
tions abolished.
Because OF the depression little has
been done In commercial building prof.
Gets since the war stopped. and before
81. ruta In Hs. ri
with the revival OF business activity the
need OF more buildings will he apparent.
The principal changes IN recent years
affecting commercial building plans are
the labor and the zoning laws The lat
ter. recurring sctoffs. has obliged archi-
tects 10 set elevator shafts further into
the building IN order that the elevators
might 60 10 thestops OF buildings built
according to coming law requirements.
Demand for large floor areas has In
creased as a concern would rather have
IL 900 square feet on one floor than
seven floors Of $500 squsre feet each.
Az opa architect described IT, the city
viii get 10 look like ancient Egypt or
Central America Of the old days. and
suggest ia time Little Nemo's dreams.
Large Plots Have Been Leased.
The figures for new mercantile build
ing construction are interesting and
show more projects but lower avera &c
costs. compared with last years show
ing indicating that few plans for large
and costly structures have been filed for
this year.
An important feature Of this year =
market has been its leasing side. Large
plots for sites OF hotels and offices have
been obtained. Prominent in the leasing
has been the renting Of large and old
buildings Mt advanced prices and the
subsequent subleasing Of them for sub
stantial profits. a great number Of
leases Of properties have been made to
banks for use as branches. some for new
ones and others FOR new quarters for old
branches Tho Federal Government has
been active In taking parcels under lease
for post offices The removal of MUIR
ray street china house 10 Twcnty-third
street added another firm 20 the china
ware colony IN the latter and removed
an old concern from the Murray street
belt Of the trade. Longer term leases
for large holdings are becoming general.
on the other hand hrohcra. especially
In the business districts of the outlying
wards. report that merchants have been