Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 109, no. 15: April 15, 1922

Text version:

April 15, 1922 RECORD AND GUIDE 457 Activity in Mercantile Building in Midtown Section Many Fine Structures Now Under Way in Districts Between Fifth and Eighth Avenues From Thirty-fourlli to Fortieth Streets A STUDY of the building activity al present under way in the mid-town district of Manhattan is probably the best method of dispelling the impression prevailing in the minds of many interested in the construction industry that residential building has dominated the local field to the extent of eliminating practically all other kinds of project. For many months past builders and their affiliated interests who are not concerned with the usual type of speculative housing operations have decried an apparent lack of mercan¬ tile construction that has curtailed their opportunities for profitable business. It is only because the volume of residen¬ tial construction now active in this city is abnormally out of scale that this feeling exists as there is a tremendous amount of high class commercial and industrial building now actually in progress and infinitely more scheduled for a start in the near future. A very definite idea of the scope of the mercantile building now in progress may be obtained from an analysis of this activity in the district bounded by Thirty-fourth and Fortieth Streets, Fifth and Eighth Avenues. An investigation made by The Record and Guide shows that within the bounds of this area a sum of approximately $20,000,000 is at present being expended for commercial projects of one type or another. This amount only represents the total cost of about a dozen modern fireproof office, loft and light manufacturing structures and does not take into consideration several smaller operations involving new Duildings nor does it include the large amount of extensive alteration work which is transforming ancient residences into business structures. There is little doubt that if the total cost of all commercial and industrial construction now under way in this district were added that the expenditure would involve upward of $24,000,000. .'\lthough this section of the borough is particularly active from a construction standpoint, and the total for a limited area was only exceeded two years ago when the group of large office buildings was erected in the Grand Central Ter¬ minal Zone, there is scattered throughout Greater New York a large amount of building operations for commercial and industrial occupancy the number and total cost of which would represent a very satisfactory percentage in any normal build¬ ing year in which the tremendous volume of residential con¬ struction did not overshadow the combined totals of all other types of project. In the mid-town district of Manhattan there are now under¬ way several imposing banking buildings, a department store addition of unusual size and a group of modern fireproof of¬ fice, loft and light manufacturing buildings. Contracts have been awarded and the site is being prepared for the erection of an eighteen-story addition to the department store of R. H. Macy & Co. This structure will occupy 149 to 159 West Thirty-fourth Street, through to 148 to 156 West Thirty-fifth Street. The building will be constructed accord¬ ing to plans by R. D. Kohn under a general contract awarded to Marc Eidlitz & Son. The cost is said to exceed $4,500,000. The steel contract for this structure, awarded to Levering & Garrigues, involves a total of 8,200 tons of fabricated material and it is said to be the largest single contract for structural steel awarded since the Equitable Building was constructed about ten years ago. Wrecking contractors are demolishing the old buildings on the site of the new building for the North River Savings Bank which will be located at 206 to 212 West Thirty-fourth Street. This building will be two stories in height and will cost nearly $200,000. The structure was designed by Charles E. Birge, architect, and is being erected under a general contract by the Clough-Bourne Corporation. Foundations are under construction for a twelve-story store NEW BUILDING IN 39TH STREET FOR MILLINERY TRADES and office building to occupy the entire block front on Eighth .Avenue, from Thirty-fifth to Thirty-sixth Street. This opera¬ tion represents an expenditure of approximately $1,000,000 and is being erected from plans by Buchman & Kahn, architects. The contractors are G. Richard Davis & Co. This building is being erected for Ludwig and Albert Baumann, furniture deal¬ ers who will utilize a large part of the space for showroom purposes and the balance will be rented on long term leases. Contracts have been awarded and work will soon be started on the new banking building to be located in tbe north side of Thirty-sixth Street from Broadway to Sixth .'Xvcnue. This structure is for the Greenwich Savings Bank and it will be erected according to designs by York & Sawyer. The general contractor is Marc Eidlitz & Son, who have already placed contracts for wrecking and other subs. The cost is appro.xi- mately $500,000. Foundation work is under way for a fourteen-story office and showroom building at 1,32 to 138 West Thirty-sixth Street, through to 1.39 to 145 West Thirty-fifth Street. This building is being erected at a cost of more than $2,000,000 by a corpora¬ tion in which E. Morrill Banner and Herbert H. Mitler are in¬ terested. The plans were prepared by Robert T. Lyons and the structural engineer is Robert E. Moss. No general contract was awarded on this operation and the owners are letting separate contracts as the work proceeds. The work of erecting the structural steel skeleton is pro¬ ceeding rapidly for the fireproof office and loft building at 124 to 126 West Thirty-sixth Street for the Dongan Investing (Continued on page 438)