The sun., 1901-03-03
REAL ESTATE NEWS.

This weeks brokerage rcports ough, .,
remove any miSgiving- that may have hae,
raj 'cd by the surface indications of a CON
Traction Of business noted the past fortuigii
III" volume Of dealing oNcr"dad by a gov.
erou. margin what would lee regarded A, III.
sct-pnahl" aNerdg" nriC' iCll'y every ola.
81 property W., affected aud the d",llng a.
u whole va. OF a notably substantial cha
Gcte- tn" access of professional .,r,i,I,.
va YER m1r,rl A. tp the Degree IN yhio,
ontid" investors participated in TIE nova
ment II i not possible to speak with .ru,l
c"rtaiutv, b"call.c of practice which broker,
hnv" Of Withholding III" name, ot bny.r.
e'o"pt whore the buyers Themselves insis, on
publicity BIi from the number OF trar..c
tons reported ~ which the purcha.ers ii.u.
iity W., not revealed the difference may b.
drawn that capital IN appreclahe amount I,
golnc into real estate for permanent lny.st
mont as well A. for speculation ~ a,y
rGta, the proportion of improved property
fiat, tonemert-. business urcni-es and n,,.
ti"llarIy high-grai. dwelling, that ngur.3
IN the news w,is worry considerable
While. indeed, every section that has "a
comfy been commented upon a. a centre n,
activity was represented during the wess
attention was drawn more particular, n
Washington Heights The Knapp property
Of sixty lots wa- bought by LOYAL l. Smith
who not long ago acquired the abuttl1E
Columbia 'oll"2" trl"t. aud another purcha.or
whose nam" l. not known. bat who l. said =,
b" Voll-knovn operator. acquired the hl,cl
front on tho vast side Of Broadway. RON
lS2 To- 1873 street, I'nt - eeven lot. atts
mort hcH-r corner Of Broadway and l&.th street,
and a parcel Of the same -iEa at the .outhw""
corner o' I}roadNav and l45th street l. a.
n ha
been signed for fully POO lots in the vicinity.
ON the lin" ~ the Rapid Transit rond.
In" dealng IN mercantile property how
ever. Wa tho most salient feature Of 30 Noa,
although the property dealt IN nss not con
fined to Huy Particular section. Charles I.
Gould bought IT." new twelve-s'0ry l0''
building AT the southeast corner OF Broadway
and Thirteenth street. llake 4 bowling
exchanged twelv"-story office huIldlns n
Liberty street for the sevcn--torv I mon
Building az the southeast corner Of William
and Pine street, Nathaniel l.. McCreadv.
special partner in tho banking house Of Post
flagg bought the seven-story Thomson
Building AZ 80. IS Wall street and ihe sale
Of the triangle. formed by Fifth avenue.
Broadway. Twenty-seCond and Twenty-'h,-i
streets. to syndicate was announced beside.
which several smaller deals IN business prop
erty were effected.
The Central Realty. Bond and Trust Com
pany stepped into prominent notice again
during the week by the sale of the 1homs n
Bulliins and by its connection with the syn
dicate which is to take over the Twenrv-ti.tj
street triangle. This company has boucli
some Is. 900 600 worth Of property during tts
past three months. it, purchases comprising
eleven parcels. all Of which. with two or tt-.s
eXcrptionS hav. been resod The hrokera."
commissions which the company has IyI
out In tn" quarter aggregate t0N.I -
special business. in so far As 1t appears '-ou
the brokerage news. consists Of deaNn- =
costly building sites. either vacant or suii5u"
for Improvement The COMPANY, of course,
hy no means confines itself 20 any one hrtn
OF business. but TO the extent that 1t raS '7s'a
M this specially IL has entered = field of novel
and suggestive poss ollltes
livery stage in the industrial progress that
has been the most marked feature of economic
achievement in the past two decades hi~ been
registered IN real property. It - onl} within
twenty years that real estate has com" under
the royolutIonlzlng influence Of Two SPECIAL
factors steam and electric intra- mural uan.-
portal and steel construction SUPPLEMENT-
cd hy elevator service. Twenty wears ago
a five or -ln-story building on tw"n'N-
uEs-ibb' lot TtIfP-tnltI lH' Ifii fr'i.'
unit from the investors standpoint. To-day
a block covered toy twenty OF thiity-st"r~
building il the standard toward which 80
unit tends to approach. A building recent
constructed contains floor space IN e
twenty stories equivalent 90 ten acres. each
square foot Of which will rent at from s. 'r
s2 Land in Wall street, At the SOUTHEAST
corner Of Broad. has sold at sS4s 81 per square
foot
II il obvious that when modern down
town business building has come g. inv".'"
an investment Of several millions II capital
tho old method Of individual m.'iat'y" -
speculation aud investment must 80 I'tu.
ticailv abandoned But no CORPORATION
backed bv sucn vast lnoneycd interest az
are found in indu strial combination hal
entered tho field Of real estate ,perula'..r
until the appearance Of the central KeIl'-
Bond and Trust Company. Naturally. ~
new field the frst activity will be 70 r'..F"
tho quicker profits Of buying and soi.irs ~
builders sites suitable tor mprov"r "u'
But II l. only ono step from tins - 'nVr0f'g
property and issuing bond- agains' ~ o. -
in sense been done in the case ~ ~" B'HaH.
Exchange Building There Is uut'Li'r ..'
a profitable A.ld for trust stock u.'~0''u't
~ real estate" and n COMPANY comp pa~ei Fl"
va'l-LuOun fin nrlar- j. now H. It..'.- I
O .au.Iatiou which will devote t-eF =" i.''
particular neII
The following sra the uorN p8rat ve f7N .. -
doing. in real ct ite r.I". in Manhattan mi