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REAL ESTATE
AND
b^ BUILDERS
NEW YORK, OCTOBER 18, 1013
THE GATEWAY TO LONG ISLAND.
This photograph was made primarily for its historical value, tor within flve years' time all the vacant land shown in this picture will be one
continuous built up section of modern factories, stores and tenements. It convincingly demonstrates the remarkable
possibilities for industrial and residential development in the Borough of Queens. The section
has been held back for years by lack ot rapid transit facilities.
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I TENEMENT BUILDERS NEEDED IN QUEENS
Ten Million Dollars' Worth of Factories Under Construction — But Not
Enough Houses—The Chamber of Commerce Conducts an Industrial Inspection.
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NOWHERE in Greater New York is
the effect of the present money
stringency more apparent than in the
Plaza section of Queens, for nowhere
else would there be more action in the
various branches of real estate if mort¬
gage money and building loans were in
even fair supply. Speculative builders
and developers prefer to take the view
that the money market in general is at
fault rather than that the loaning in¬
stitutions of the city are not alive to
the opportunities.
Here is a section of the city which is
getting more new manufacturing indus¬
tries of importance than any other. It
is a section which will be the main traf¬
fic and business center of a great bor¬
ough. It is getting
direct rapid transit
facilities to all the
other parts of the
city for a five-cent
fare, and it is nearer
the heart of New
York than is Wash¬
ington Hei,ghts and
most of the favored
residential districts
of Brooklyn, The
Bronx, East Jersey
or Westchester.
Actually under
construction or con¬
templated at the
present time near
Queens Plaza are
factories estimated to
cost nearly ten mil¬
lion dollars and
which will give em¬
ployment to 10,000
people. What does
that mean to men
who are looking for
opportunities in the
real estate field? It
means that those
ten thousand employees will be newcom¬
ers needing houses or apartments to
live in, and that they will bring ten or
twenty other thousands of people with
them, members of their families.
The Queens Chamber of Commerce,
through its secretary, says that the par¬
ticular need of the borough at the pres¬
ent time is tenement houses, and in or¬
der to build tenements building loans
and permanent loans must be available
to operators. It has been difficult when
not impossible to obtain loans on any
but small properties even at a fairly
high rate of interest. The chamber rec¬
ommends concerted action on the part
of real estate and mortgage interests
with the object of bringing the desira-
Electus D. Litchfleld, Architect.
HOUSES AT JAMAICA—ONE GROUP OF FIVE HOUSES,
bility of New York mortgage invest¬
ments to the attention of investors
throughout the world.
An Industrial Inspection.
These and analogous facts and topics
were discussed upon the occasion of an
industrial inspection of the borough
made on Wednesday of this week
under the auspices of the Cham'ber
of Commerce. First there was a
reception and a luncheon at the rooms
on the plaza and the rest of the after¬
noon was spent in automobiles. In the
party were many representatives of the
railroad, manufacturing, banking and
real estate developing interests of the
city and country. From the viaduct
across the Sunny¬
side yards the party
viewed a landscape
very much like what
is in the picture
above. Within half
a mile radius of the
viaduct there has
been during the past
year the largest in¬
dustrial development
that has taken place
in any part of the
greater city.
Looming up above
all its neighbors
is the Loose-Wiles
Biscuit Company's
factory, the largest
works under one
roof in the city, which
is estimated to cost
$2,000,000 and em^
ploy 2.500 persons.
The new building
of the New York
Consolidated Card
Comnany will cost
$300,000, and em¬
ploy fifteen hundred,
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