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AND
NEW YORK, .AUGUST 9, 1913
THE DVCKM.A..\- SECT10.\, LOOKl.XG -NORTH.
Note the facilities for extensive commerce. The bridge connects 207th street, Manhattan, with Fordham road, Bronx.
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STARTING A NEW BUILDING CAMPAIGN
Activity in the Dyckman Section Has Unusual Features—Completed |
Houses Readily Tenanted — Building Loans Not Easy to Obtain. |
IN the upbuilding of a great city
there is so much haphazard develop¬
ment, encouraged by more or less arti¬
ficial methods that it is particularly
gratifying to see a comparatively new
portion of Manhattan where building
improvements are traceable to a definite
and legitimate demand.
In the Dyckman section there is now
progressing a quiet, steady series of
building operations, all of which have
l^een undertaken on account of a genuine
demand for moderate priced elevator
and walk-up flats, and not because the
liuilding loan oper¬
ator had lots to sell
or the big lending
institutions were an-
.xious to make con¬
struction loans.
There is said to
be hardly an apart¬
ment house of the
many completed in
the last two years in
which there is an
apartment or store
to let; in many in¬
stances tenants are
moving in before the
mechanics have com¬
pleted their work.
While this building
movement has not
been conducted on a
very large or com¬
prehensive scale, it
has been steady and
is increasing in volume right along; and
present indications seem to point to
the Dyckman as one of the next impor-
tatit tlieatres of building operations.
Charles Griffith Moses, vice-president
of the J. Romaine Brown Company, long
considered a foremost authority on
north end real estate, says the chief rea¬
son for this state of aflfairs in the Dyck¬
man section is the fact that this is the
only section of Manhattan remaining
subway stations (existent and not mere¬
ly contemplated) can be purchased at
prices that enable the builder to improve
them with well-built apartment houses,
the flats in which may be rented at six
to ten dollars per room, and the rent
rolls shovi' a substantial and profitable
investment to the ultimate owner.
No Semblance of a Boom.
"The remarkable feature of this whole
condition of affairs," remarked Mr.
Moses this week, "is that, in spite of the
fact that every builder who has gone
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GE.XEK
The
where good building lots, contiguous to
.\L VIEW OF THE DYCKMAN TRACT. LOOKINtT WEST
Hudson River can be seen through the Inwood Hills.
into the Dyckman section has come
through his operation satisfactorily as to
rental, mortgage, and, in many cases,
sale of his houses, there is not the slight¬
est semblance of a lot boom, and a num¬
ber of very desirable plots may still be
had at figures that must show substan¬
tial profits to the builder.
"There is small doubt that if building
loan money becomes easier to obtain
this fall, and surely this will be the case,
we shall witness a strong building move¬
ment that must be satisfactory to the
lot owner, builder and investor alike.
"Few people realize, too, that the
Dyckman includes the only unused and
available waterfront suitable for com¬
mercial purposes remaining in Manhat¬
tan, and with the approaching comple¬
tion of the New York State Barge Canal,
with its port of call at Dyckman street
on the Hudson, and its freight terminal
at Academy street on the Harlem River,
there will be a tremendous demand for
high-class manufacturing and assembling
plants right in this section, which will
increase the values
of the adjoining
property for mod¬
erate priced apart¬
ments and stores of
all kinds."
.\n estimate of
population which M.
Just, real estate
agent and operator in
the district, has trans¬
mitted to the Board
of Education, put.s
thc nunilier at eight
thousand by the
first of ne.xt January.
Thc district has one
public school and
one church of long
.standing,and anojlicr
church and a Idrge
theatre in course of
erection. The streets
are paved with as¬
phalt block and soon all the elements of
a civic center will be present.
.-Mtogether about thirty building oper¬
ations are in hand, and the local authori¬
ties state that activity would be more
pronounced this summer but for the diffi¬
culty w-hich builders experience in ob¬
taining loans. However, the money
stringency, because of the limitation it
places on the volume of construction, is
not viewed altogether as a hardship by
real estate agents, They say it will br
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