New-York tribune. [volume], May 15, 1919, Page 7, Image 7

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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A Problem in
Real Estate
In a small area of downtown New York
is centering the financial and commercial
power of the world. Shifting of values, cre
ation of new opportunities of trade develop
ment, occasioned by fhe world war, are
throwing upon New York City a new task
of leadership and new demands. A space
holding a few blocks of buildings is the heart
through which pulse currents of world-wide
Growing Business Demands Space
Leadership entails growth; it attracts new enter
prise. It is bringing with it, as never before, a concen
tration in this limited district of Manhattan Island of the
machinery of banking, shipping, insurance and world
commerce.
Expansion of established concerns, creation of new
ones, involves enlargement of personnel, greater needs
for office facilities and physical equipment of all sorts.
This means a tremendous and growing demand
for space.
Enormous Pressure on a Small Area
. To this demand the conditions in Lower Manhat?
tan erect a natural barrier. Big business is virtually
restricted to the small triangle below Fulton Street and
between the elevated railroads on Pearl and Church
Streets.
Corporations with a realization of the increasing
Shaded areas indicate properties full})
improved or otherwise unavailable.
difficulties of the situation have seen the necessity for
prompt action. The)) have learned that the only assurance
of adequatel]) providing for their requirements was to become
owners of their own homes.
The process of buying for this purpose has now
gone on until there is little left to buy. The pressure
has become enormous and increases daily. Rents have
begun to feel the effect of the demand and promise a
continuing rise. What is to be done?
Buy or Vacate
In many instances the choice presents itself: Buy
your own building or building site promptly, or face
the possibility of being crowded out of your present
quarters or allowed to remain in cramped space on suf
ferance and at the cost of a special premium on your
rental.
A Narrowing Choice of Location
? What is the outlook for buying, either:
1. A building already erected
Of Interest to
Business Leaders
international business. It represents a mass
ing of the strongest influences in the financial
and commercial life of the country that is now
the creditor nation of the world, the greatest
manufacturing nation in the world, the largest
producer of world necessities. A grave
problem has sprung from this fact. It con
fronts all business men called upon to serve
the needs of the new situation.
IHfl# 2. A suitable site for the purpose of
erecting a building?
Some available properties of either kind remain.
Few large sites, however, are to be had?-sites of suf?
ficient area to accommodate buildings of the size de
manded by downtown requirements. The few sites that
remain are adaptable to individual concerns, which
could rent space not required by themselves at present,
but which they could hold for their further growth.
An Investment Opportunity at Present Prices
To the investor also this situation presents remark?
able opportunities. The prices at which buildings or
building sites can now be had are still reasonable. They
have not reached the high-water mark of values. A s the
pressure for space increases rental rates will increase,
making appreciation in value and increased returns to
the investor certain.
HOW CORPORATIONS
The foilowing purchases are among recent
UNITED STATES STEEL CORP.
SINCLAIR OIL COMPANY
FEDERAL RESERVE BANK ?
NATIONAL CITY COMPANY
ROYAL BANK OF CANADA
CANADIAN BANK OF COMMERCE
SEABOARD NATIONAL BANK
GASTON, WILLIAMS & WIGMORE
CUNARD STEAMSHIP CO.
Steel?71 Broadway
Oil?55 Liberty Street
National Finance?Block on Nassau S
Bond.?52 Wall Street
Banking?68 William Street
Banking?16 Exchange Place
Banking?Broad and Beaver Streets
Foreign Trade?39 Broadway
Shipping?Plot on lower Broadway
ARE ASSURING
transactions which indicate the trend toward the securing of permanent footing
THEMSELVES OF PERMANENT HOMES
t.
ATLANTIC & PACIFIC STEAMSHIP CO.
NORTON, LILLY & COMPANY
BLANDY, MOONEY & SHIPMAN
LAGROSIP INTERESTS INC.
MEXICAN TELEGRAPH CO.
WESTERN UNION TELEGRAPH CO.
CUBAN SUGAR COMPANY
AMERICAN MOLASSES CO.
NEW JERSEY ZINC COMPANY
Shipping?Water St. and Hanover Sq.
Steamship Agents?26 and 28 Beaver St
Lawyers?38 Pine Street
Exports?Water And Front Streets
Telegraph?Broad Street
Cables?Broad Street
Sugar?Wall Street
Molasses?Wall Street
Metals and Paints?Burling Slip
in the rapidly narrowing available business area:
MARDEN, ORTH & HASTINGS CO. Oib?Liberty Street
Leaf Tobacco?130-132 Water Street
ELIAS BACH & SON
Increased Holdings:
BANK OF AMERICA
GUARANTY TRUST CO.
NATIONAL BANK OF COMMERCE
NEW YORK STOCK EXCHANGE
BAKER, CARVER & MORRELL
Banking?William and Pine Streets
Banking?Liberty Street
Banking?Nassau and Liberty Street*
New and Wall Streets
Merchants?Water Street
Expert Advice Needed
tlxpert advice is manifestly essential. It can best be supplied by the real
estate firm which has an intimate knowledge of conditions and is equipped to
obtain financial backing for purchase or building operations. Consultation
with Wm. A. White & Sons will serve to put the inquirer in contact with the
dominant factors.
Buy for Insurance or Investment
The urgency of buying to insure space for occupancy is evident. It will
make itself felt in individual instances more acutely during the next two years
than it is to-day.
The logic of buying for investment at this time is equally plain. Build?
ings in this area are good investments to-day and will remain good investments.
46 Cedar Street, New York
Established 1868
Telephone, John 5700
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