New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-02-01
THE WEEK IN RE4LTI.
Deals IN FJfh-aUe. Reported Sales
CDfO7en.

n
last week viii shcw that among the leading feat
ures were auction sales in partition proceeding
held BY Peter r. Meyer & Co. the Fifth-ave. deals
and the reports of sales of properties in OF
the uptown sections The Fifth-ave district, par
ticularly that part of it with its centre the
northwest of Ffty-second-st and Fifth-ave..
has for long time furnished a large number OF
the most interesting and biggest deals of each
week Far from losing any OF its attractions from
the point of view of real estate student its hold
becoming daily stronger. The transactions which
the most gratifying to those actively identified
with the real estate market those which either
reveal high prices some important improve
r:ent tending TO increase values.
From the reports OF last week and many previous
weeks the transactions in the Fifth-ave. section
have clearly indicated the excellent and growing
demand for choice dwelling house properties in
that district. There also signs of growing
demand such properties in other fine resi-
dendsl sections of the city, such the West Side
above Fifty-ninth-st. Ex-Congressman Jefferson
NJ Levy. whose prominence in realty affairs is due
not 10 the fact that he is large owner of real
estate. but because he devotes much time each
day in studying realty conditions. is thoroughly
conversant with almost every line Of the business.
and his opinions and predictions realty affairs
always command much attention. He recently
said that he expected to many good trans
actions made in the present realty season as in
the last which in most lines of business was
record breaker lie also said that he expected to
great activity in the F1fth-ave section and in
many other districts
In the choice dwelling house sections OF the city
vast number Of the property owners live in their
houses. which they bought permanent homes
These houses practically out OF the sales mar
ket unless tempting offers made and the own
ers can satisfactorily renvest in another dwelling
house FOR their occupancy- But here is the
most Perplexing problem that confronts the real
estate broker: How the owners Of dwelling
houses in the choicest locations best taken care
OF? The best residential sections are limited in
area For instance, they may each contain two
thousand dwelling houses and If the demand Tor
such houses is four thousand. and the demand Is
growing astonishing rate. what steps must
be taken TO supply it? 1t thought that with
the building 81 hundreds and hundreds OF modern
aDartnent houses and hotels the demand for dwell
ing houses would show a great falling of, and for
time the demand for the dwelling house did
grow less. There have been excellent movements
TO supply this need by the creation OF new choice
residential sections. such the F'ffty-hfth-st
movement in which Herbert A, sherman Moritz
"a yer and many others. including number OF
clubrnen- figured prominently. Then the improve
made the section Of the city east Of Park-ave and
north Of PROFESSIONALS. more attractive TO per
section only in their infancy. and whether they
thought UPON eoneered eorfs Of the Property
owners OF the section 1t is undeniabe fact that
on FTffhSave or in the centre Of the old choice
residential sections. But they can live in or near
these sections. and if they deC1qe TO i've in mod
ern dwelling houses they will take part In the up
some Of the old downtown residential districts. in
which business houses or cheap tenement houses
now occupy q large space. There is wide and
profitable held for Investment for q syndicate OF
builders. il is said IN the Greenwich Village sec
ton. The greatest obstacle 10 getting such syn
dictate TO undertake the building OF modern dwell
ing houses here is the lay and width Of the streets
which twist and turn in every direction. Some OF
them narrow as to make the lower rooms
OF houses damp because Of lack OF plenty Of sun
shine and air.
The recent increase in values or properties in
the SixJh-ave. district from Thirty-fourthst. north
was plainly shown last week IN the auction sales
in partition proceedings For No. $50 TO 654 sixth
three five story brick buildings plot 5s5x
- feet. the southeast corner Of Thirtyeghth-st
Wirnerding & Field paid S1S1.5o, For No. 765
Sixth-ave.. -5.5 feet south OF Forty-fourth-st-,
four story brownstone front 1athouse with store,
on a lot 25x75 feet. James J. Coogan paid $4,000.
The property No. 651 Sixth-ave.. southwest corner
OF Thirty "a SX6o feet. four story brown
stone front fiafhouse with store. sold to Rob
Geller for $50 800 The property Nos s3s and $40
Sixth-ave.. and No. 81 West Effty-third-st-, the
northeast z3x9X10o5 feet and irregular. two
four story brick buildings. with four story brown
front dwelling houses adjoining in the street,
sold to William P. Rooney for S144509.
William s Devery bought at the auction sale OF
the Josephine l. Payton properties hei0 last Feb
story brick and b1ovustone building a plot Sex
81 feet fer s42 SOC In February Of the year
Robert Taggart bought No. &c Sixzh-ave. at an
auction sale in partition proceedings held by VIII
lam NJ Ryan. for $40 CSC The property is a four
story brick end tenement house. with one and
tVo story brick extension. a plot about % Xln
feet.