New-York tribune., 1901-09-01
THE WEEK IN REALTY:


in buying wisely. He also sought the advice OF one
OF the best known operators in this city
After he had learned much about the value OF iots'
and had read many articles the possible future
development Of the city by persons who had made
a study OF realty transactions, he started out 10
choose a parcel for a home site. He considered
several sites, and then told his broker that ne
thought a certain plot near Fifth-aVe was an
ideal one.
Il think you have overlooked point Mr..
Huntington" said the broker, in considering the
parcel I'm question.
What that"
You have not looked al some OF the old city
maps showing the streams of water that once
flowed through the city and were long ago hlled
in"
No I forgot TO look at those maps
We'll here they are.' exclaimed the broker, as
he held before Mr. Huntington several maps that
sboyved the brooks and the underground streams
70 be found years in certain parts Of the CITY,
These maps show" said Mr. Huntington, that
several streams once flowed through the plot whlch
l am thinking Of buying. In eKcayating these
streams might be once again revealed or brought
into play. and the possibility Of unearthlhg lHeh
removes the parcel q suitable home SITE
This discovery led Mr.. Huntington to buy plot
AZ the southeast corner OF Fifty-seventh-st. and
Fffth-ave, where he built for his own occupancy
the house that stands there
This plot which / bought for home site was
considered to be dry land years ago. Mr.. Hunting
ton once said in speaking about his purchase ana
there little likelihood of II being ever sneclu pe
some unknown underground stream. If had not
studied old realty maps l might have bought a
marcel with a beautiful stream in it, mean IL
had bought without consulting my broker
Mr. Huntington was well repaid for the time ne
spent in choosing home site
There are many persons living in this city now
ever who do not seem 10 be possessed OF any
business aclImen in their realty transactions As
investors they are woful failures. and they 90 not
take the medicine which they made with their Own
hands without loud lamentations over their hnan-
cial losses. A well known investor said a fe" DAYS
ago in speaking about the realty market;
.arhere are financial wrecks strewn all about US;
wrecks which result from want OF a clear and
thoughtful brain; wrecks which are due 10 an idea
that the majority Of realty operators are schen-
ing for their pocket all the time and are never
panning IN the interest of their customers Ana
there are wrecks arising from conceit following
successful operations. When man thinks no one
else knows anything about lty dealings, it IS
about time he retired forever to some secluded
spot He is likely 10 become not only dangerous
10 himself. but a menace to a stable market. Such
men are generally responsible for unhealthy
boouas and booms Of that kind breed distrust in
the public mind. / once knew man who called
al an architects Office one day and said, l want
you TO build for my plot in Popular-st an
Office building like Jones has on mis- parcel
Your plot is not as big as Jones's' said the
architect In have to build smaller house OIL
your site.
".Au right. But want my building to have just
as many offices as Joness building Make the win
dows doors and elevator shafts smaller. BY doing
so you can save space There was man rush
ing disaster"
What happened?" asked the reporter.
Many things. When the building was COM
pleted he discovered that he couldn't rent the
Offices at the sum which ne asked. Why? The
offices were Ike little cupboards The windows
Of the building small that he could not get
large safe through them, and the thought Of
carrying safe up on an elevator out OF the
question: Ana that is a question that appears to
building investor-the placing Of safes in Offices.
More business would have safes in their Offices
II they could get the safes easily and quickly into
the building"
or put into buildings asked the reporter.
Almost any day you can see safes being hoisted
up into office ny means Of ropes operated from
a beam fastened TO the roof Of the building by
a portable derrick. Safes were got into offices in
this Uay years ago. and the prospect OF a change
OF method seems 10 be far distant Many OF the
vators capable OF lifting the biggest and the heav-
ii5s sG,e 'L nave enef seen ralseo N 'front.' OF a
ever refuse TO lift safes in the elevators beyond
safes will be too heavy strain for the elevators.
This fear is baseess; Every Office building
are safety appliances in the market that win
@ @sLano a sudden pressure on them Of more than
With these appliances II is almost impossible for
}nese elevators 70 fan more than few feet If the
Have you ever seen elevators with these appli-
i have witnessed several tests. well known
oulloer put NJ an office building in the downtown
section without giving much thought TO freight
eieVators After the building had been open for
some months he received many complaints from
MS tenants about the trouble they had n getting
safes and large pieces Of furniture into their Offices
elevator he was asked
The elevator isn't strong enough he replied
The speaker told him that he thought the ele-
vator could lift several large safes at one time
Ana III prove it, he continued. and IL the
elevator is damaged by the experiment / win de-
fray the expense of the necessary repairs "
Was the experiment made?' inquired the re-
porter.
ne use or certain safety appliance for elevators,
big safes could be placed in Offices on the tenth
toor n about ten minutes and at cost Of about
50 81
This elevator is still in operation II was exam
med 5y the reporter a few days ago. The reporter
was told that the elevator frequently tested.
on one occasion bags Of coal, the total weight OF
Wflch was ABOUT nTe tons were placed in the ele-
Vator, and then the lifting ropes Of the elevator
were cut. The elevator fell hve-eighths OF an
Inch The safety appliances worked perfectly at
Better freight elevators arg demanded by scores
Of tenants OF downtown and uptown Office build
ings, and II is likely that this demand viii receive
the attention that il deserves. II some big Office
buildings which have now many vacant Offices had
better freight elevator there would undoubtedly
be fewer vacancies in the buildings.
Some important sales were re00rted last week
and some unusually interesting leases The rnnet
important deal the sale Of the block bounded
by ScVenty-third and Seventy-fourth SITS West
End-ave. and Riverside Drive. by the Nev-YorL,
Orphan Asylum Society. The name OF the brver
is stfn unknown.
Another interesting sale was the Thistle = FIVE
story apartment house, Nos. 2s and 22l West For
The announcement that ex-Judre FIbert II Cary
had leased from Frederick GehharG the house No
s East SeVenty-ninth-st. which Mr. Cebbard b,fl.
for his last spring attracted considerahla
attention.