New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-15
CLUBMEN BUY REALTY.
THEIR PURCHASES EXPLAIN RECENT
BOOM IN DWELLING HOUSES
on EAST SIDE.

se,ar houses in Fifty-ffth-st between Park and
Lexington ayes were sold yesterday by Herbert
A sherman for various owners TO some members
Of the University Union clubs and a nuihper vi
friends Of these members. This transaction Is one
Of the most novel Of its kind ever made IN thls
civ and if reve4 led the fact that the recent nys-
trolis heavy buying and selling Of private dwell
ing houses on the East Side of the city anoNe
Forty-second-st-. especially between PARK ana Lea
iugton aves was mainly due 10 the purchases OF
rrivate dwelling houses the section by cluhmen
II is said that few dwelling houses between fark
and Lexington AYES above Forty-second-st solo
in the last ten years were bought by cluhmen OF
g7ersons well known until few months ago.
About the beginning Of the present year it he
came generally known that several well known
members Of clubs like the Union and the CniFer-
sifv had purchased or We're seeking TO buy houses
for their occupancy a little further east VI
Madison than usual Apparently these opera
lions became widely known to real estate brokers'
who carefully guarded the facts for the heneht OF
many Of their clients not for the general pup
lie In view Of these operations. hundreds OF per
sons were found only too ready and willing 10
rasn the opportunity Of being the owners OF MONIES
in a section Of the city to which men Of wealth.
had suddenly been attracted. and where the Naiua-
lion of property was considerably lower than In
the Fffth-ave section. Most Of the buying between
Park and Lexington ayes, however. has been pe-
tween Fifty-ninth and one hundredth sts. but the
extraordinary activity this section resulted from
the closing Of deals like the one reported by MI
sherman Yesterday. according to several OF the
leading realty brokers. What is the approximate
value of property that has changed hands because
of the carving to successful end of the transac-
tions with which cluhmen and their friends were
interested cannot he learned and it will prob
ably never be known Undoubtedly the valuation
OF the property is many millions, and it is consld-
erably greater to-day than at the time the con-
tracts TO purchase We're signed.
The houses bought by clubmen and their friends
81, Ny
East Fifty-ffth-st hye four story brownstone
dwelling houses each. with the exception of No.
1Ss on a lot 1873 10y loo feet, and Nos Jos and ia
East Fifty-fifth-st- two three story brownstone
dwelling houses. The house No. 1873 is on a lot ID
by Joe feet and Nos. Jos and ia each on a lot
$50 bv 100 feet The buyers of the houses as
follows: No I25. Stuyvesant Wainwright No. 127
Park f. Bell; No. 129 H. r. Tibbetts; No 1Sl. J.
Mathew Wainwright; No 49, Richard I VAIN
wright: No. IGS ]. Howard Wainwright, and No
ia Charles c. Marshall
These houses are within easy reach of the Fifth
ave- section, and particularly the University Club.
which is 1T Fifty-fourth-st. and Fifth-ave. At
Twenty irst-st ana Fifth-ave is the Union Club,
and new home for that club is being built at
Fifty-hrstAst and Fifth-aye. This building will
soon he ready for occupancy. When it is opened
the members Of the Union Club who have bought
houses in Fifty-6fth-st. viii also be living short
distance from their clubhouse.
The Union Club property in Twenty tirst-st. was
Bond and Trust Company. of which Henry Nor
genthau is president Since the cornerstone of the
new home OF the club was laid several syndicates
composed entirely of cubmen have been formed
and have built apartment houses for the exclusive
use of persons who belong the principal clubs of
this city. These apartment houses have been built
on sites adjoining parcels which are restricted to
dwelling houses apartment hotels or houses OF
the best type, so the present attractions OF the
street are assured for some years. 1t could not
F4z--i hist
between Park and Lexington ayes. had been re-
Gently restricted. but by the purchases made yes
terday the Improvement Of greater part OF the
street is certainty for the houses bought by the
clubmen and their friends are 10 be remodeled.
As the buyers Of the houses will have common
IN crest regarding the preservation Of the present
atactohs o. me sfs' 1, a. bIing bouf other
i.ea ne palcaS =; Nm S for r5nro2enent as
private dwelling houses the architectural appear
hef fs e IN the near future Not long ago mum
Der OF houses in East Fifty-siXth-s. almost IN the
reaF % me houses So'o yesterday were y
Action has already been taken, owing to the Pur-
ffth-st over the Park-ave. tunnel torn down and
,,c bridge viii iro6abIy be built at an early
date 1t is said and when it is finished it will be
possible TO drive a carriage III straight line from
Lexsngton-ave. and Fifty-ifth-st TO Fffth-aVe ana
An IDEA as to the recent increase of valuations in
the East Side section above Fifty-ninth-st- was
DAYS ago when he sand that houses which could
have been bought last year for $4,000 We're quickly
The houses bought by the clubmen and their friends
valued at about $4,000 each The number OF
persons who can afford 70 pay S5oVp Tor dwell
ing house is much greater than those who can pay
Fifth-ave prices The former generally like to live
near as possible TO the people VINO are prornl l1
,lent in society, and a large number OF theIn wlIl
tween Park and Lexington ayes; and above Fifty
linth-st many well known members OF the leading
clubs Of this city and their friends should build or
buy houses for their own occupancy