RECORD OF TESTIMONY AND STATEMENTS IN RELATION TO 149 



NECESSITY FOR DISTRICTING PLAN 



we will have the conditions as at present existing in some of our congested 

 districts, or certainly only a very small improvement. 



Too liberal restrictions penalize better developments 



By not having strict enough regulations you are penalizing the landlord 

 that would attempt to use his ingenuity to develop an enlightened type of 

 dwelling; in fact, it is almost impossible to attempt any schemes in this 

 direction unless the surrounding district is protected. On the other hand, if 

 there is adequate protection the ingenuity of the builders will be taxed to 

 provide an adequate building within the regulations enforced. I do not 

 believe, therefore, that your Commission should 'hesitate through any fear 

 of supposed opposition on the part of real estate owners — an opposition 

 which I do not believe will be encountered — to provide an adequate regu- 

 lation. 



I hope you will understand the spirit in which the above suggestions are 

 made. I have only been impelled to make them because of the enormous 

 significance the regulations adopted by your Commission will have upon the 

 future of New York City. 



Statement by Frank Lord, Vice-President, Cross & Brown Company. 



Real Estate and Insurance, March 29, 1916 

 Condition of real estate 



After an experience of 41 years in New York business real estate, I 

 cannot remember a time since 1875 when the plan of restricting heights and 

 limiting areas would have caused less disturbance to real estate values than 

 now. Values have been greatly reduced and activity almost suspended in the 

 districts below Chambers Street, where high building and light monopoliz- 

 ing has been most prevalent. In the districts where activity and stable 

 values have prevailed above 34th Street, high buildings have until recently 

 been considered unnecessary and will work great harm if one or two build- 

 ings of the superdreadnought type are constructed to appropriate and con- 

 centrate in one or two spots the business activity which should be spread 

 over a reasonable area and impart benefit to a large section. 



In the midtown section of the mercantile district, say from Canal Street 

 to 23d Street, where there has been almost complete prostration, the restric- 

 tion of the height of buildings can work no possible harm and may encourage 

 the construction of eight to ten story buildings, with all Labor Law require- 

 ments that will command reasonable rents. This district will then gradually 

 regain its lost character and in a measure its activity and value as a manu- 

 facturing center will be re-established. 



New York has had a high building debauch and I believe has learned 

 that there is some analogy in after-effects between high buildings and low 

 vitality in inverse ratio. It is too much to expect that building restrictions 

 will create value, but it is fair to believe that the reasonable restrictions 

 proposed by the Commission on Building Districts and Restrictions will 

 conserve value and stabilize districts. 



Present appropriate time for districting 



The permanent location of two great railway terminals at 33d Street 

 and at 42d Street, the building of the Broadway or Central Subway, the 

 Seventh Avenue or west side subway on Seventh Avenue, and the Lexington 

 Avenue or east side subway, mark this time as the most appropriate in the 



