New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-06-14
THE WEEK IN REALTY.
Not WhoHy Slozc, Despite
the Usual Summer Dulness.

Many persons are so disturbed over the building
trades conditions that they appear TO have over
looked the fact that the hottest days or summer
at hand. and that at this time of the year
few large transactions expected to be begun
or to be closed. Instead Of thinking about WORK
the majority of leaders realty matters are read
ing pamphlets summer resorts and preparing
their plans for vacation in the near future tsu-
ally, under the most favorable norma! condluohs'
the market at this season of the year is quiz
Duiness ought to be and is visible IN the hathei'
and yet the market is not wholly slow Consiue'-
ing all things that likely in any way to AFFECT
K; IL IS q good market. In fact, il is such an eN-
celent market under existing conditions that there
is sufficient cause to rejoice
number of large and important transactions
were reported last week. The principal one per
hans was the obtaining Of option on the prop
critics No 25 20 Pine-st by the Bankers Cor
poration 1t said that the Bankers Corpora
ton would exercise its option in September Ii was
said also that Russell Sage had bought through
DR.. John P Num- the we'll known physician. NO.
go Fifth-ave-. from Mrs jeanette p Coin On one
= day of the week William VOLTS Sons reported a
large number OF sales in which they were the
brokers They sCld five story building, with
stores. at the northeast corner of Sixty-ninth-st
and First-aye to Daniel Lowenthal, for SSs'5oO NO
LOGO Lexington-ave; Nc. 122 East observation-disclosures
twentieth-st., five story tenement house. on a lot
2595x100 feet 49, $50, and No. 334 East Forty
seyenth-s four story tenement house, with store
on a lot 20x1G0 feet. to the Charles Hammei Com
pany for SIS 900.
The brokers in another important sale were L. j.
Phillips 6 Co. and L. Solomon. They sold for Fan
ME NJ. Crowley to James Hunter McHefery NO
20a West One-nu1dred- and-nineteenth-st-, q hVe
story double apartment house. on lot 2oxlooll
feet.
George c. BoIdt figured prominently in the news
of the week He bought from the Peter Marie es-
tate the house No 6 East Thirtyseventh-st., where
Mr. Marie lived. 1t adjons the Moller house, No.
East Thirty-seventh-st, which Mr.. Boldt has
owned for some months. He has plot with
a frontage of about fifty feet and a depth OF one
hundred feet. He is thinking of making the two
houses into one for his own occupancy.
1t was learned also that Mr.. Boidt was the buyer
of the northeast corner of Fortyrstst. and Fifth
ave- which recently sold by Zelah Van Loan
to Richard NJ. Montgomery. Mr.. Montgomery rep
resented Mr.. Boldr. In the last two months Mr..
Boldt has figured in four important realty transac-
tons.
Three of the sales at the auction rooms on Tues
day were of more than ordinary Interest The sale
of the former home of the Knickerbocker Athletic
Club It the southeast corner OF Madison-ave ana
Forty-ffth-st was knocked down to Adrian Isein
the plaintiff for $4,000 The mortgage which Mr.
Iselin held was for 100000 1t was announced
about three months ago that the property had been
sold about $3.50 0O0 At that time the foreclosure
suit was pending, and it supposed that the
suit would be dropped. 1t is impossible to say how
much of loss the sale TO Mr. Iselin for $4,000
represents. It is not known how much was paid
on the contract. The defendant in the suit was
John Davis Adams.
The northwest corner of Whitehall and Pearl
SITS. went to outside bidder, Paul F. ONeill for
$50. 500 The parcel comprises five story building,
lot 265x62 ks 7x60.6 feet. The amount bid was
about $50 60 a square foot.
third ST., which bid in by j. o. Scanned last
February for sos 900. sold yesterday to Jack
& Stern for go difference of S2s $50 1t Is
said that Mr.. SCANNED. the day he bid II in had
an offer of $4,000 for it, which he declined
The Real Estate Record and Guide in its last
issue says in part, the real estate sttuat ion:
I'VE have received number of inquiries as to the
effect which the readjustment Of general business
conditions taking place is likely to have upon
the local real estate market. OF course. such
become plainly apparent how far the read
juStment is going. and whether the recent Nqufda-
in the stock market has been due to temporary
financial conditions whether 1t is really an an
-ticpation of period of depression. So far can
be at the present time. however, we should
conditions would be to change the character of
the real estate trading without diminishing its
amount.
f'Tenements are being erected at a largely in
creasing rate: apartment houses are being planned
in very considerable numbers: the smaller bust
is increasing his factory or loft space,
and anticipate that in year or so there viii
be revival the building of the small residence,
both Manhattan and The Bronx. At the same
time immense amount of private business will
under way. Moreover. believe the strength of
the local position be such that a dimunition in
general prosperity and activity would indirectly
stimulate building in Newly ork. A large amount
of new construction is undoubtedly being held up
until the price of building materials becomes more
materials would be of the first effects of
Sla ckenng of general trade