This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
What see we for the future?
Fifty-seventh Street, the great retail street, the natural avenue for the distribution of Queensboro Bridge traffic.
The great hotel center in New York facing Central Park.
Fifth Avenue above Fifty-ninth Street turned into high-class apartment hotels and family hotels like those in Paris, where strangers spend their winter months.
The amusement center moved up to and around the Central Park Theatre, etc., and from that running up to the Seventy-second Street express station of the subway.
Hudson River Bridge landing people between Forty-ninth Street and Fifty-first Street, and another up around 167th Street, having the Palisades as one of the piers.
Sixth Avenue, between Twenty-third and Thirty-second Streets, changed into a good retail and amusement center. It is a natural link that has been neglected.
The water fronts on both the east and west sides improved, as permanent sites with uninterrupted light can be secured, prices being abnormally low.
One Hundred and Twenty-fifth Street duplicated by 145th Street, between Sixth and Eighth Avenues, which is also a great connecting link between Washington Heights and the Bronx. Small stores in adjacent avenues are forerunners of this trend of development.
Get close to permanent centers, such as financial, retail, amusement and local, like 125th Street, 149th Street and Third Avenue, and all great junctions. Prefer corners on account of light and rents. In retail sections give the south side and west side preference over the north and east sides.
Remember, that the land alone increases in value, and not bricks and mortar.
Watch developments and give the section where population is densest the most attention. Above all, give transit facilities great weight. We are all lazy and in a hurry. Remember, that the store floors of buildings in retail neighborhoods produce 70 per cent of rent, as against 30 per cent for the upper three or four floors.
Real estate cannot be handled like railroad securities. Frightened stockholders fix their prices, while if one or two houses are sacrificed, it is forgotten.