New-York tribune., 1903-03-15
THE WEEK IN REALTY.
Sale of Old Sirth-are. Car Barn
Little Other 4ctirftu.

There less activity in the real estate market
than for a long time last week. 1t closed yester-
day. however. in pleasing way with the sale of
the ole Sixth-ave. barn property. the east
side Of Sixth-ave. between Forty-third and Forty
fourth sts- by the Century Realty Company. to the
United States Realty and Construction Company.
This sale undoubtedly means Improvement OF
the property a big scale in the near future.
For several years the property has been in the
market, and from what could be learned YESTERDAY
could easily have been sold in plots many times
over since it vas bought by the Century Realty
Company. But acting upon the advice Of its presi-
cent William II. Chesebrough. the company de-
eided tc sell only the entire plot There are few
who could handle such plot in comparison with
those who could buy several lets similarly located
The persons who could buy apparently did not see
their way clear to take over the plot. Some OF
those who could have bought # did not think II
worth the price the Century company paid for It,
William H. Chesehrough Is young man. he
heard these opinions but he was as confident as
10 the future and the value OF the property
after he heard them before. In fact his con-
hdence in the property grew each week. and he
has satisfaction of seeing his opinion justified
and good profit from the sale turned into the
treasury Of hts company.
According to a number Of real estate experts. the
sale will have excellent effect properties IN
the avenue the plot. A sale OF this ktno
usually stimulates the demand for property IN the
eection. Some interesting purchases in this ois-
trict are expected TO be made in the near future
q good Improvement The district is a part OF the
theatre 1t is also part Of the section IN
which many conmodious clubhouses stand 10
some investors the elevated structure Is SERIOUS
detrrnent the improving Of this part OF si1th-
in attractiveIy profitable manner or In a
way to assure IS good profits are assured hv
similar investments elsewhere The areas or the
theatre. tho clubhouse or the hotel sections are
not large In comparison TO the area OF the cl'S-
II growth OF values is due TO increased de-
rnand-and the demand for properties in this sec
1on is increasing daily-it would appear that the
cid barn property is one OF the most atoao-
tive in the city 1t is just between tne
Fffth-ave and the Broad dway sections Where pFIceS
have risen considerable in the last year with IN
dca lions that they will continue to soar for long
title TO
To those who have had many years experience
n the real estate market, and who students or
realty conditions. the tendency Of the market IN
The last few years has been plainly evident Inc
majority OF improvers. investors and specuiators
been active IN the central sections OF the CITY
O. as near to the central sections their purses
would permit them 10 be The cue for this &C
,7it3 was taken from the people who either live
here do business here Most business houses
wish 20 he where the greatest throngs are ana tfeF
have paid will pay well to get there Now. to be
IN A position q command or to attract the great
~st thronss central location must be obtained
which can easily be reached by surface and eie-
waited lines. the Herald Square district was
.elected as meeting thess requirements. and the
more and spectators resulted in others
entering that section Unless present signs are
fafsc ;hc Herald Square section hVe years he1'Ce
will u greater grander in the nuTnber OF
attractive and Important buildings. and nearer %
many large cities and towns in Ncw-Jersey. Long
1s.and and elsewhere. account Of the PennsEI-
~anla and Long Island tunnels and the otheF 'un-
rclS which will then he IN operation
To many persons this IS the time Of year o.
.he greatest activity in rentals. 1t is said that in
creased rentals usually show increased value
A canvass OF sections shows many new rental
figures In the Sixties between Park and Lexington
avee there are this year few houses TO be rented
ro- about 81 so. Last year al this time. II S!'Ssj
ves obtained for the leasing OF house for a
tear il was considered to be very high rental
The average received then was from si4p TO sl,e'
Now the rentals from 5000 to S9tn In the
S'xties between Madison and Park av"s,. rentals
ra- houses are now from SStta to SsaH- as against
3 80 y"ar 1t Is said that houses which
.aail ha1e been bought IN this section last year
for 81. 7iI5 no had now for much Jess than
S.0a The rentals for houses between Fifth ana
Madison s-es from Fifty-fifth to FifiE-ninth ST
"a from & 81 nh 4 marked increase In rentals
-1t-5 n Fity-ffti'-st cast o. Fourth-avH Last
way Aos=x here could have oenn leased for Ho"nt
So Tne erase -ontal Il thc street now is said
So
Tie -oze--e-- - form association ot real
estate DIVERS - safeguard their interests has az
--a.+ed 7ylI----aat attention. II : the oqinfoh
% the .eadi-g tn the real estate market mat
-Ae-e as bee. need ct such organization for
-ea-s TIE 7@w association is 10 be launcheo al
r9ce1ine 20 p. held Wednesday At the office OF
-ae :sri-ke.b,pcker Trust COMPANY. No % BROAD
.7-lr Zeal E~Iat. Record and Gude I'm its last
iss1,a sare in regard the real estate situation:
Tic rresa1gr scti,ity very extra ordinary and
e-.-4are - ro increasing rather than dimnfshing.
There hay recorded this year already some
hundred thirty more oHNeyanc@s IN Mali
iz-.an than wcre recorded during the correspond
i,s wear of 1sg year which largely surpassed all
PREVIOUS ycare Rut Of this increase almost . per
-aI took f.a.e during tn" first week III March. and
= "Te naX udg' by m nrr,' m ] srser Ar
Ih~ firs' week il! April, IN truth utdeL eAls.
estate Is large and 19o strong TO ne dHlieo ~
* not iaunIad ny any "f tt" usual obstacles ne
ai1Eotgb - d"ih;iass riadfv ITS direction and
ihare Is no reason why they should The majority
ieturning better income az thc present time than
. I All 1d 'i' m F very oo after tHer srected TIE
demand for good residences does not fail and: most
WesP SIDE and HarIen ffa9hoses has very much
mnlshed The great erl e: former Years H. N1d the ne
Al up the buildings no longer prevails because II
no longer Eeoesssry consean"ntly the building 81
h-Einnine again on verr large scale They are
showing n substantial increase over the figures of
last year. and every week q large numh@r OF new
SS eecr service ~ tho Msnhafan
elevated trains has also contributed TO the happier
Harlem property owner easier and more prosperous
looks sso . # tSr h 1 small nag was For coming Ing
last years the real estate ma rket has been
,saI operations which II offered 1t has been a
season Of large speculative transac ctions. which
c5iefy 1he price u real estate on The main
naes and s,re@,s But 50 far the year 1903 has been
d@ed continued to advance in Fifth-ave loVer
I'D ffere are many notable irnprovements fore
shadowed. but sill these spectacular transactions