New-York Tribune from New York, New York • Page 61

PART VI. i i REAL ESTATE MARKET STRONG ITS STABILITY CLEARLY. REVEALED IS THE EAST SIX MONTHS. Expert Vicxi Regarding the Various Sections -The Situation in the Entire Suburban Field. recent f.n^nriPl depression clearly mogstrated the stability of the ret estate market.

In last sue months there has been no of values en Manhattan Island or in The Brooklyn, hmond. Queens or in any rnmprieii suburban pla es within zone. Early Vasx. September it was thought that a few districts in the upper part of this city were overbuilt, and efforts were made to readjust conditions there so that the general rarln would strengthened. This vas mainly dfwe by a curtailment of building operations, es- JrtcUlly of the five and fix story flat house.

The present spring eeason already Indicates that Tork te not overbuilt and that everywhere values a- upward tendency. Great business centres -r reaied from one en-3 of the city to the and in the outlying bur ban section? iand being rapidly transformed into thriving and residential districts. Few peisoiu ee the Ereat projects which have out in the last few yeara to meej the for fecTories. office huildir.Ers. store and loft Structures.

South of Chambers street numbr-s cf buildings have been replaced by zr.oi•m two of which are the biggest buildings cf their kind ever put up in this or any other country. The Elnper Building, ready ficcurancy, is the tallest ofSc- bulldin? in Ihe TcrM. ud City Investing Building-, at Broad- May s- Cortisndt Ftreet, is the biggest structure ever as regards floor area, for ffice purpsjM throughout this main district cf the city. In which many millions of invested of late j-ears in erecting and iTr.provir:*; iden the work of various leaders is vis In nearly every THE NEW GREAT WHOLESALE DISTRICT. ft wu not po many years ago that the buaineea section prir.cipjilSy used by wholesale houses had its northern boundary at street, but now many wholesale fir.4 and rommodious their use in the ptreets adjacent to Broadway fi north aa Mth itn I One of the largest whole! business districts has developed from a.

small centre Into l'-J present eize in about five yeara is bounded by ar.d Cd eeta and Seventh and Lexington and in that part of town will be found of many leading Industrial of this country. To th east of bia loft district will be found a and rapidly busineaa ortre opposite to the new Grand Central Station. the of the district is a modani and flourish- Sr.jr hotel, Etore and office Itatriet, of Seventh avenue in the principal artery. EPBCILDINQ THE GRAND CIRCLE the Grand Circle- district, at Htfa street and avenue, thousands have been spent in hnproving the district along most suitable lines. is cow line of the principal theatre and BSBtras ri'r.

with its northerly end almost touching Eherman Square, and according to many Mi estate exparta It will not be many years before is almost on a par wttll the principal theatrecer.tr* 23d and Cd streets, with Broadway its principal thoroughfare. INCREASE IN FIFTH AVENUE VALUES. building plans have not only been perfected, tut bsea successfully carried out In laet years 23d and 50th Btreeta, rr Fifth avenue ajid ii many streets in the district, in the Fifth avenue section a retnarkabte chopping dlEinct has been created within three years, and as a r'rsuit values have there frr JS.ooo 4. front foot up to J16.000 a front root, it is likely that sttM at 34th street and Fiftn Be, if they were offered for sale, would comr a price which would astonish many of ttje operators and speculators. Jn the of time Hth street from Madison avenue to Point juet west of Seventh avenue has become of the leading cress street shopping centres of the city, and values along that street are to-day Riicy larger than what they were a few Masa ego.

It would be a difficult task to find a aaatisa of the city which has not been more or ifs benefited by the Increase of Industrial here and by the tunnel and other transit for making travel from one section to the quick, safe and comfortable. nueixEgg houses in madison avenue. Jn-rease in values in Fifth avatUM from 33d to 50th itreet has been no great as to force many pererns who desired to seek for their in Madison avenue, in other f.efcrny aa4 many istaaai Bsnej resulted in renjrtheneri recid-naaJ dielrict north of ttreeL A BIRDS-EYE VIEW OF GREATER NEW YORK AND VICINITY. and wsst of Central Park and exter ng to the Harlem ship canal. The demand for apartment bouse has eei growing steadily, and the number private dwelling as a result has been growing- less each It would not be surprising ff ten years hence the entire district was covere with apartment houses of the most model a type.

RECORD BUILDING OPERATIONS. The opening of the subway was followed by one of the greatest building- movements ever known in the history of th- city, and long stretches of lan-J In the uppei or newer districts, which had lons been vacant, were quickly improved with rows and rows of modern flathouses. Here and there the speculative builders, hoping for the greatest profit from the smallest expenditure houses with pniall rooms and which were cheaply constructed; but time has proved that such structures are not: profitable ventures, as few of them were quickly or at the figures that the buildors I There Is not room in the Washington Heights and Dyckman sections for the poorly built house, and in view of that fact, the future buildings in these sections will be along the liesL and therefore the most profitable lines. Washington Heig-hts and the Dyckman districts are destined to be as high class in every respect as that t-harmingr district just south of them. Tn The Bronx the speculative builder became so active after opening of the that he found difficulty In marketing his wares, and there were signs there for a long: time that scores of builders would probably have to suffer a loss, as they appeared to have overburdened themselves.

-As a result of the congested conditions, In the. lower East Side sections NEW MANHATTAN BRIDGE THIS-STRUCTniE IS PART OF THE TLAX FOR BRINGING CONEY ISLAND AND OTHER BROOKLYN SECTIONS NEARER TO BROADWAY. end the attractiveness of newer Bronx however, thousands of persons soon the builders to The Bronx, and it was not before a good renting market was therefore found for moat of the houses that had been put up. Tne ruajority of the houses are now fairly well rented and it will not be many months before the supply Is about even with the demand. It Is not likely that the oominp will result In largre flathouse building operations In The Bronx.

WHAT THE BRONX NEEDS. What The Bronx urgently needs Is the small detached one or two family dwelUng house, and butlders who have heeded thesn calls have had no trouble in disnoatng of their properties. Ab yet most of the suburban sections which comprise vast metropolitan zone have not attracted the speculative builders large numbers. In the next two years, however, the speculative builder who successfully carries out each year operations Involving many thousands of dollars la expected to be unusually active In the many alluring suburban places within easy reach of the city. PERSONS SEEK SUBURBAN HOMES.

The great increase In flatliouse on Manhattan Inland and in The Bronx anj Brooklyn has led thousands of persons to seek In the suburban sections with many city advantages. in fact, so large the demand for apartments In reuses of tne two family type in attractive easily sccessibie to principal of New York, that -who Rre strh i that that It will Impossible for them to An for rmne unless they gel IMlltllfi fiom men who are largely NEW-YORK, SUNDAY, APRIL 12, 1008. identified with construction work here. Many builders are keeping shy of the suburban owing to the financial conditions, whirh make it Impossible for them to get satisfactory building loans. Not only is the population of New York rapidly Its commercial frreatness being quickly ausrmented.

but the area of the metropolitan which, briefly expressed, comprises what in known in real estate circles as greater New- York and its suburban rones, is broadening at j. rapid AREA OF METROPOLITAN ZO! The. limits of metropolitan zone are revealed of the transit facilities between those suburb places near the rity and the business centres of N'ev York. Any place that Is easily accessible to this city and not over an hours ride, by rail is numbered among the towns in that sreat district. Even the and that fact is not widely appreciated In real extended the area of the.

metr.opolita'* ssonu. For many pers min comfortable circumstances considared until a few years ihnt Port Chester, on the New Haven 111 was of rthe most. northerly towns in suburhan The autornobllf however, tins changed this view of things, and many well known business men havi their suburban homes Fixty or more miles from this city. These men do not depend upon eithei the railroads the trolley lines as vehicles for travelling to and from the city, except during inclement weather. Their vehicle of locomol 1s the automobile, and any person in Park Row netu-een the hours of 4 and 6 each evening 1 will pee many automobiles hurrying northward or over the.

bi dge to Brooklyn, and the destination of these nuromohlle trips is far beyond the old boundaries of the zone. LOCAI AND SS FII ED With the aid of skillful 5 and scores of Investors Manhattan Island has firmly Joined to New Jersey, Westchester and Island. In the near future the Blackwell's Island bridge between Lonsr Island and Manhattan Island will be opened to the public A little later th hugw East River bridge of the New York Connecting Railroad, which will sweep in a praceful curve over Hell Gate, Ward's Island. Little Hell Gate, Randall's laiaxid and The Bronx Kills, will be for the purposes for which it was designed. When that bridge is completed and tha last spika driven in the four railroad tracks it there will be, for the first tlma In the history of this an all-rail route through New York between New England and the South.

An idea of the engineering feats accomplished In erecting this bridge may be had from the fact that its carrying: capacity will be about twenty times greater than that of the old Brooklyn Bridge. Of the four tracks, two wli! be for passenger and two for freight service. The passenger tracks, by way of a cut-off in Queeng County, will connect with the Pennsylvania Railroad tunnel ami its central station at 33d street and Seventh avenue, Manhattan, and the Island Railroad, wltii itM seashore resorts and city stations, and all of these railroad systems with New York, New Haven llartford and other New Unas. The freight tracks will run across Queens, and with the Long Island Railroad will form a hljr loop around Brooklyn. BUILJHNO FREIGHT CENTRE IN BROOKLYN.

Through freight from New England for the Routh and West will be carried over this route and across New Tork Ray from Bay to Greenville, N. J. Thus there -will two fllsllnrt routes for the two of truffle and neither WiD Interfere with the other. With this connecting rallroail and brMge and with the many plans being carried out by the city for Improving pier facilities of Brooklyn the industrial growth at Brooklyn is eippctPd keep with its remarkable residential vicoi. ihould prove to many more ttmnf attractive to Industrfal lhan it ami If many of the hig factory established throughout ths in Brooklyn, it will mean gredter MAP DRAWN lOK THE NEW-YORK TRIBTNE.

of emplf building of asi numbers of A JAMAICA BAY PROJECT. A ii is also under way to transform the large part, if not the shore front, of Jamaica Bay Into sites suitable for use as piers for vessels of doep draft. Plans to that were formulated by IT. Harnman several years and the total sum be invested In those operations will be over according to a report made at tlie time the plans were first made public. Then there is aNo talk of thfi Flatbush avenue lino being extended so as un over a viaduct direct to the Rorkaways, and the carrying our of th.it scheme would nuthingr more or than Rockaway Bench and the adjoining territory closer by trolley to the prindj business and residential distri'-tB of this city.

It has estimated by experts that la expeiiMled by in 1 transit facilities of this cityi and that the aitn of all thepe pians will Flilt in the creation of a New York on a soile more magnificent stupendous the realty leaders of the present day imagined would be formulated and carried out. TUNNEL AND BRIDGE PLANS. Some of the projects which have either been carried out or will soon perfected are as follows: The two-tunnel tubes of the Hudson Manhattan Railroad Company, between the midtown section of Manhattan island and Hobokei The twin-tube system of th" Hudson Manhattan Railroad Company befw the principal downtown district of Manhattan It'and and New Jersey. The twln-l system of the Pennsylvania Railroad between Manhattan Island and Newark. The four-tube plan of the Pennsylvania Railroad ween Manhattan Island and Jamaica.

The tliird-ral! system of the Island Railroad between Flatbush' -avenue and City, extending on the nortl to Port Washington, In the central section, to Hempstend, Garden City and Mineola, and on the south sido to Coney Island, Manhattan Beach. Far Rockaway and Long Beach. The six-trnck system of the New Haven Railroad between Port Morris, The Bronx and Port Chester, with a branch extending northwesterly to White Plairus. The electric system of the Harlem Division, ex- tendlni? from the Grand Central Btatton, to a point a little beyond White Plains, and electric system of the Hudson Division of the N-w York Central Railroad to Croton-on-the-Hudson. The Stelnway Tunnel, with two tracks, between 42d street and Manhattan Island to Long Island City.

The Manhattan Bridge over the F.ast River, with a westerly approach at Canal street and Bowery, Manhattan, and an easterly approi ut Flatbuah avenue and Fulton street Brooklyn. Then there is the New York Connecting Ballway Bridge, to which reference has already been made; the new Bpuyten Duyvil Bridge, over Duyvil Creek; the Blackwell'i Island Bridge, over the East River, and the 207th Street Bridge, over the Harlem Ship Canal. Moreover there aro a large number of plans being perfected for new trolley llnea In Tha Bronx, Queens, Westchester, Richmond and In many New Jersey districts. There is also talk of a four-track rapid tntnsit lino, with a terminal near Boboken, which will extend along tha Palisades, and which will bring that entrancing realdentlal within easy reach of thia city, anil the suburban places which be benefited by plans of the New Haven. New York Central, the Pennsylvania and the Islaml SOME OF THE REALTY PROBtEMS Just hat dmtrict will he more than any or her these vast undertakings is one of the great realty jet to solved.

xernis that the district which forms Quern's Borough is weP iken i-ate nf, as regai projected transit facilities, and opinion Is so firmly by TO ELECTRIFY THE PUTNAM EISE WILE FORM PART OF S. V. ESTRALS THIRD RAIL SYSTEM, U'hnt the Project to This Charmimg Rural Region 'Along the Hudson Ri: er and Harlem Divisions. T'i- electric system of the York Centr-il is to i'" enlarged. It announced a few years railroad wnuM transform from a "team ruad Into an electric the Hudson River division as far north as Croton-on-the-Hudson.

a distance of 33.9 miles, to North Plains, a distance of twenty-four miles, and would probably hanse th" Yonkers branch, between Ijsth street ari'l Yonkers. into a third rail electric short time prior this announcement plans prrtectetJ by the New York Central for enlarging the Grand Central 'Station that it would cover many more blocks than the old structure. Early Irist year the electric system of the New York Central as far as Wakeflelil. on the Harlem division, and on Hudson River division, was completed and was permanently opei plans of the railroad call for a third rail sys- many of the leading realty operators of this city that most of their future plans will result in transformation of hundreds of blocks In Queers into residential districts, all enticing to the residents of the upper sections of New York. Even In this present season, which has been noted for Its many dull days in the real estate market, vahieg in Queens have been goins upward more steadily than probably in any other district.

OUTLOOK IN QUEENS BOROUGH In fact. Queens is expected to furnish for the larger part of the expected increase in population In thin city in the next five years, and in view of that fact Queens Borough Is likely to become a flouriahing Sathouse district. It Is to the nearby fuburban places en Loi Westchester. New Jersey and tn Richmond that the prospective homeseeker. looking for a comfortable house, with rural surroundings, will be forced to go, if wants to live in a place with a rural atmosphere and having city advantagna Many realty leaders hold to the opinion that the trend of suburban development will be greater aloig the New tunnel system than alonjj the easterly lines of the tunnel projects.

These persons, however, seem to have overlooked the alms of the Long Island Railroad system. Which is planning to afford residents of Brooklyn adjoining places an attractive means of travelling to and from points beyond Jamaica in, a manner entirely satisfactory from the point of view of the commuter. AIMS OF THE LONG ISLAND RAILROAD. The Flatbush avenue extension of the Long Island Railroad Is now at third rail tunnel system, representing an Investment of over $12,000,000. an many millions more will probably be expended by th" company In niargini that system or Improving it in the next few years.

aims of this system re to afford a ch-ap. safe and easy vehicle of travel to and from all stations within looal districts and to points I.on< Island at all hours Of 'tie day until early the following Whenever the trafflr warrants it the road to operate trains on a schedule of about Hfieew minutes' headwaj aftei midnight, unrt thus the persons who make their homes on the islartcl anri in city until hour will able to without much delay and aimon as quickly as In the daytime. FOURTEEN PAGES. of four tracks on the Hudson division fmr as Croton and of two rrarks on the Harlem division as far North White Plains. NEW YORK NTRAI.

ELECTRIC SYSTEMS. In near future this entire suburban electric zone wi'l be in operation between Htid-inn arvl this city and between North Plains anil this city. This system represents an investment of many million doltarr and has already stimulated the development West nh ester County on a larcr scale than ever before in it3 history. For rears the Putnam Valley, lying between easterly of the. Hudson River and farfamed Harlem Valley, has been practically an unknown field to the speculator, and la speculative builder.

A few careful stud-nts cf real estatn conditions decided -when N-w To-- Central first made known its mammoth, pswjseta) for from s'eam to electricity many miles tracks that thos- plans would ba satoHM in a few years so as to embrace Putnam Valley. 3o bous-t many tracts of larvi Briarrliff Manor and this ettjr along of New York Putnam Italliiwai which some years was known as Tork Northern Railway. Some of the parcls of were either divided into lots and sold homoseekers or Improved with houses casting a thousands each. VALUES IN PLTNAJI VALLET. Land values, however, throughout this region just aortl of this city have only slightly increased in the last tan How the valley escaped the attention of the majority speculators is a mystery, as it can be easily reached from sather Harlem division or Hudson division, of the New York Central Railroad.

On either side of the Westchester sections adjotnlntr valley there few tracts to be had much under 13.000 an owing to tha projects of the New York rvr.tra!. Th- Ptitr.am division of the Now York from ISofti street an-1 Eighth tn Brn of fifty-four At rhnortherly terminal of roatl. the of New York Central extends in a northerly to the iipper Vallej. At this Junction there Is a branch of York. New Haven Railroad, connect!" with ami many orher Connecticut same also parallels Harlem division of New Tork Central for several miles north nf Brewster and runs in a erty direction.

The Putnam Valley divistcn of New York Is to I- electrified throughout its length, ar.il this hranch of the railroad will become one the longest third ra'i electrie lines traversing an alluring suburban nel.i of city. It is the intention of officials of the Xew York Central to maker the southerly terminal station of the Putnam road at 42.1 atNM and Fourth avenue, so that persons to on the line will not have to USjasfM 155th street to get tn the mi'Jtown districts of city. These plans for chaneinj: motor cf the Putnam railroad from slssin to will undoubte-lly result in rapid development of not only every town along the of road but also that flourishing county of Putnara County, village of Brewster. PLANS WILL BENEFIT BREWSTER. It seems as if Rrewster would a great residential buaSr.ess and railroad beins linked in the near future with thia city, rot only by the Putnam division of the New York Central but probably by an extension of the electric line of the Harlem division from North White Plains.

As name imiilies. Putnam Valley is in from Its southerly end to most northerly point by a high range of hills, noted for their picturesqufr.e«a and for their many healthful Buxnmer resorts. this electrie project Is completed, which will be in about a few years, it will possible for a person to leave tht' city In the hot days of the summer ursd after a short uml quick ride through the Pocantieo Hills section of Putnam Valley find himself in the heart of charming rural region. IN THE NORTHERLY Just south of Brewster, along the line of Putnam. Is Tilly Foster Mines, one of few 1 a in Putnam County iron mas discovered many years ago.

Near Tilly Foster Mints is Carmei. which II flourishing town In Putnam County, being Just fifty north of thtl city and journey of about four miles from LaM Mahopac, which is of largest lakes wtthta few hours' of this city. Owing to and to -ts many natural charms. Sfor attracted numbers Cootinaeti twelfth.