New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-11-18
THE WEEK IN REALTY.
ACTIVITY. IN ALL BRANCHES OF THE
MARIETTA S2,5o0oOo HOTEL FOR
BROOKLYN.


last week both by the number and variety or sales
and by the many negotiations reported az
being we'll under way. The silver terror which
hung the heads OF investors before the election
has been dissipated by the defeat OF Organism, and
confidence has been restored not only in the loan
market but also in almost every other line OF real
estate.
Two deals contaminated last week as a direct re-
suit Of the election the sales OF the stewart
house at F1fth-ave. and Thirty-fourth-st and OF
the old Morse Building, Beekman and Nassau
SITS. Although the first sale not unexpected
owing to the announcement the week previous that
negotiations for the purchase OF this property by
the DEMONSTRATION syndicate were wen unoer way
and had already assured a contamination or the
deal, nevertheless the fact that the papers were
signed for the transfer OF the property was attended
by much comment and great interest The latter
transaction the concerning the Morse Building
the form OF trade of properties. the Wash
ingtOn Life Insurance Company having transferred
the building to Charles Ward Hall in exchange for
the twelve story granite marble and brick Harnil-
ton storage warehouse at One-hundred-an twenty
ffth-st and Fourth-ave but the deal will have all
the buoyins influence the market that a straight
and out sale would have had This will result
because the OF the Morse Building IN.
tends TO improve the structure throughout besides
adding several stories.
The announcement made last week by Mr.. Shell
don, who. together with Mr.. Barney heads the
syndicate which has purchased the Stewart house
that the marble pile will he down was received
with mingled commendatton and regret That such
a removal was inevitable was everywhere admitted
but regret was expresses that such a noble land
mark Of the city should be destroyed The price
paid for the property. which has a frontage in
Fifth-ave Of 11s feet. in Thirty-fourth-st Of 175
feet, with an l running through TO Thirty-hfth-st
. feet wide is understood TO be 81 30. 600 The
purchasers say they will divide the property into
smaller parcels unless il be disposed Of
whole. The latter mode Of disposition is thought
ny most real estate hardly probable. and IL
IS rumored that the land will be up into no less
than three parcels-a lot 150xl1s. at the OF
FIfth-ave. and Thirty fourth-st, lot 25x9s g. ad-
joining the first named parcel and facing in Thirty
fourth-st and lot of the same dimensions direct
" IN the Of the second parcel and facing in
Thi-ty-ffth-st.
a history 81 this notable piece OF property shows
with what strides the price of realty IN this OF
the city has advanced IN the last century II was
a part of a farm Of twenty acres sold IN 1873 TO
John Thomson for s4s2 los. about s. $40 The
farm sold to Isaac and Thomas Lawrence in
1929 for s14 900 In 1927 Thomas Lawrence sold his
half ". r. Astor for $40. 500 In 1910 Isaac
Lawrence and Mr.. Astor divided the land into 24s
lots and in 1s43 124 lots belonging TO Mr..
Lawrence, Of which this Stewart property formed
part, were sold at auction The corner lot al
Thirty-fourth-st. and Fifth-ave.. 25xlO0. brought
S13 600
This lot, together with the other lots in the block
front in F1tth-ave. between Thrtyfourth and Thir-
ty-fffth SITS, and having a depth OF 200 feet were
sold TO August Belmont IN 1851 for $4,000 The plot
Thtrty-foUrth-st. sold IN 1852 to Samuel Rich
ardson FOR $4,000. and several months later by
Gorham D Abbott for $3.50 In 1862 the property
was sold by Sheriff to a, T Stewart for 1880.
subject to mortgage Of $4,000 thus making the
total price SuS,00O. The present purchase OF the
corner property by the Barney Sh eldon syndicate
tirry-eisht years later, when the price OF the land
without the mansion is couservativeIy rated al
4 OtUVuO. shows increase Of values for
q nearly Loo per cent The two lots adjoining 10
TIE west and forming the L were bought by Mr..
stewart IN 1873 for 10000. This present value is
rated at about s275,OO0.
The runor that the Tiffany Company IS max
ing overtures for the purchase Of the whole prop
erty although denied by all parties concerned is
Still persistertly CIRCULATED
Another sign OF the renewed and increasing &C
tVity or the market IS the reported purchase Of a
big tract OF land at Hunts Point from the Failas
The sellers include Edward C. Failes Thomas
Falles and other heirs The property contains 1913
joins the George johnson tract on the north ana
On the east the holdings Of the American Real
Estate Company
The building trade has also received a boom bv
the election Of a Republican ticket. Plans for
apartment houses are now announced each day, 20
be built in different parts OF the city, and especially
column II Is now announced TO erect at cost Of
brooklyn. The builders are W. K Kurtz, Of ms
city. and Walter Z Selby. Chicago capitalist
The hotel Is 20 he managed by James H Breslin
veteran hotel man, and formerly interested in the
Auditorium and the Annex. OF Chicago. The struc-
that II viii be the largest hotel OF lts kind the
world Il VIII front in Cark-st with depth 1913
feet N Columbia Heights and NiHow-st
IN the renting branch there is renewed activity /
also. Among the important leases reported last /
week that OF No. = Washington Square North !
by Cornelius Vanderbilt. Offerings az auction are |
which was hardly if at all the case before the |
election.