The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-02
REAL ESTATE NEWS

New York realty. That this should be the
showing OF tho last week OF June presents
condition upon which there is no occasion to
thaorize.
Among the buyers OF last week are the large
Investors aud the large SPECTATORS the small
investors and tho small spectators. Every
element in the purchasing class was represent
ed With the buying without class or feature
but simply concertvc. explanation Ia found in
the strength Of real estate and universal con-
fdence in IT,
The largest transaction OF last week was OF
the purely Investment class. This was the
purchase by James Il Haggin. the copper mag
nate, OF the Silk Exchange building at Broad
way and Broome street. 1t ia gratifying that
this property has been taken out OF the specu-
lative class John 4. Williams put up the
building three years ago for the purpose OF
sale 1t has been on the market during this
period at 81 100000 He called 1t the SILK Ex-
change building. for the reason that many OF
the tenants are engaged in the silk business
and the Silk Association OF America has its
headquarters there. There is no Silk Ex-
change and Mr.. Haggin may conclude to
change the name OF the building. 1t Is said
Mr. HaRgin pays SS50.000 for the property.
This IL doubtless an exaggeration.
Henry Corn's trade by which he acquires so
feet front at the southeast corner OF Broadway
and Thirteenth street in exchange for new
mercantile building in Broome street Is inter-
esting for the reason that it gives promise OF
the early improvement OF the Broadway cor
ner. Mr.. Corn Is a builder and Spectator. He
has done more than any other one man for the
development OF Fifth avenue. between Four
teenth and Twenty-third streets His plan Is
TO buy old corners. erect modern commercial
buildings and hold them for sale. Latterly he
las diverted his attentions from Fifth avenue
somewhat to Broadway.
Sometimes it takes very little to shape the
destiny of a locality Fifteen years ago IL was
thought Fifth avenue. between Fourteenth and
Twenty-third streets. would become a retail
centre. proprietors OF large retail stores then
existing or in prospective were looking about
for building sites. But they wanted entire
block fronts. and found their negotiations
blocked by the then practically prohbitive
prices demanded by certain owners. Half
block. seventy-fve and fifty foot fronts were
more readily obtainable. A start was made in
the putting up Of ten and twelve story COM
mercial buildings and the indications now are
that for all time to come this section OF Fifth
avenue will be a wholesale instead OF a retail
centre.
broadway. INN ediately below Fourteenth
street. Is in transtory state. The line OF de-
parture is hardly yet formed. Most OF the re-
Gently constructed buildings are cross be-
tween mercantile and Office buildin gs. with
the former favored The Astors are contem-
plating, 1t in said. the erection OF an office
building on the site OF the present Star The
atre Mr. Corn's projected improvement on
the opposite corner may serve to turn the tide
In favor OF purely mercantile buildings.
purchase Of the investment class was that
by VI. J. O'Shaughnessy OF 33 West Thirty
second street. This purchase gives this st.
Paul investor a six-lot plot extending from
Thirty second to Thirty-third street. and
subject o, much speculation ia. what does he
intend doing with it? The theory that he pur-
poses putting up bachelors apartment hotel
seems more practical than the theory OF large
retail store. Surprising this section were
sought as the site for such business enter
prise. it would appear more feasible to select
Fifth avenue or Thirty-fourth street. Thirty
second and Thirty-third streets are of the limo
OF travel. and do not seem capable OF affording
the volume Of trade necessary to support
great retail store.
Among the deals OF the week in vacant
realty the most conspicuous was the purchase
by William r. Travers Of the twelve lots at the
southwest corner ofMadison avenue and Tooth
street. This g a speculative purchase. another
result OF the recent activity in the blocks east
OF Fifth avenue Mt the northerly end OF the
Park. Eventually this plot will doubtless be
improved with high-class flats similar to those
In the rear on Ninety ninth street. Madison
avenue furnished two other large vacant lot
bales during the week. one being at the south
west corner OF Ninety ninth street and the
pther at the northwest corner Of 1l7th street
Amsterdam avenue also furnished seSeral
large vacant lot sales.
Private residences OF the better class figured
prominently in the transactions OF the week
dozen such sales were reported. the houses
scattering through the cross streets below and
west of Central Park. West End avenue and
Riverside Drive. OF the private house sales
the most noteworthy was that OF the Gen. Viele
mansion. Riverside Drive. which Isaac l..
Rice OF Wall street bought for personal occu-
pancy.
That section OF the Bronx lying between
fremont and Bedford Park will he benefited
by the extension OF the elevated railroad to the
latter point. Land along the proposed ex-
tension has been anything but drug in the
market since II became known that the Man.
haitian Elevated Company was the actual buyer
Of the tract OF 12O lots recently purchased and
transferred to the City Real Estate Company
as dummy.
This is not the season for the voluntary Of
ferng Of real estate except in the line Of
building lots. and most OF these latter Offer
ings are taking place on the premises. Save
for an interesting sale Of Jamaica lots. billed
for July T. the Broadway salesroom will pre-
sent no attractions until next fall. Two large
lot sales are set for the current week. one be-
ing Of Brooklyn lots on July and the other
being of Arverne lots on July 3. and both TAX
ing place on the premises
The following are the imperative tables for
Manhattan AMI the Bronx Of the conveyances,
mortgages and projected buildings for the cor
responding weeks Of 1899 and 1893. az com
piled by the Record and Guide:
CoEvEYASCEs.
1889 1929
Jun, SS 10 Jun, n 10
June 20. NC June So inc,
Total number ...,......,. 3l7 15p
Amount involved ......,. S3,l6l.26l IS so7 o2s
Number nominal. .....-.. $50 2S3
Total number OF convey
AnCes, Jan. | t. date S,9ll 1901
Total amount Of convey.
EnceS. Jan. to date, sa5.5s5.o27 162.o42. 500
MORTGAGES.
Tots. number .., ..,...,. 49,. 400 SAC
Amount involved. ........ S6,09l, HD7 So4l5.2i2
Humbcr over per cent lN2 Pa
Amount involved ...,,.,.. $685. S4,llp.O5B
Number at . per cent ..,.. 1888 2lp