New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-02-22
THE WEEK IN RE4LII
Marhed 4ctiuity an Val Street ana
Mann Other Sections.


much excitement they did some years ago
It be inferred from this assertion now
that they attract attention as they ola III tne
days when there were no such big realty and con-
struction companies at present. The number
of persons interested i'm the real estate market IS
much greater to-day than il some years ago.
closer attention is paid to detail of the hns-
ness and the little and big sales. the small ana
extensive plans for improvement are studied more
carefully than ever At least this is the opinion OF
many who have been for long time ldeli'iieu
with the real estate market
A little sale may be the key transaction 10 NaS'
undertaking. and person who would overlook one
of these little deals might let pass unnot1ced an
opportunity to make profitable sales or IN
vcstments. That is one for the daily record
of small transactions. on the day that they are
reported evidence of their importance may De
discovered but later report of the purchase OF d
parcel in the district or in the same street
may reveal the size of the transaction. To be able
to discover quickly the important and non-unm-
portant transactions requires constant attention
The alert broker investor is like man on the
lookout for surprises, and in that condition ne Is
able to talk quietly and express his views clearly
when the details of important transaction OF
which he had idea about to be closed are
told him. In the last few years unprecedented real
estate deals have been the feature of the market
and the realty students and hundreds of other per-
sons identified with the market have come TO ex-
pect such transactions each week.
The Sturtevant House property was purchased
last week by the United States Realty and Con-
struction Company. The property was held at ST.
ECO 600, and is one of the landmarks OF TINS CITY
More than fifty years ago me hotel opened It's
doors, and for many years. under the management
of Warner. Leland. there held there many OF
the most important dinners of each year p" Iiis
the sale of the property attracted wide attention. II
did not cause brokers to become excited, nor dld q.
lead chronic prophets of the market to draw Won
derful pictures of the future 1t was not followed
by vivid announcements from some owners or prop
erty near the plot sold that land there hau risen
80 per cent in a night. that the purchase Would
lead hundreds of big investors to build falryIke
office buildings or fathouses nearby sites. Yet
the transaction will undoubtedly have an excellent
effect upon adjoining properties and many parcels
in the district The plot is likely to be improved
extensively in the future, and such improve
rnent tends TO enhance values and 10 quicken the
demand for sites suitable for improvement on d
scale
In the news of TIE week the Wall Street section
showed I'D brilliantly and furnished some OF the
best reports of the week These. however, did not
disclose any new movements but rather the per-
fecting of plans drawn up months ago For some
years W. X. Aston has been prominent hsure III
the upbuilding of the east end OF NaIl-st-' anu
gradually skyline of tall office buildings Is get
ting close 10 the riverfront. Mr.. Aston is truly to
be considered a pioneer in this improvement W nat
success he has met in his operations is sel-eV1deht
by the magnificent buildings which he has oulit
and also by his latest purchase As his operations
in the widen, and old buildings give way ~
modern office structures the architectural appear
ance of the street improves and the area OF at
tractive Investments especially for realty corpora
lions, financial organization and trustees OF es
tates becomes much greater. and the street from
an operators point of view, grows more aiurlIs.
Mr. Aston's latest purchase was for the Jaulcey
co,7na,,- of which he is president. He bought, as
reported in The Tribune some days ago, the four
story and basement building at the southwest cor
ner of Water and Wall SIS. from Joseph D Ease
who owned the property since 1865 The famous
Phoenix Coffee House stood on the site. Inc plot
has frontage of e5,7 feet in Wall-st OF 4o4 1eer
in Water-st south line OF 643 feet and an east
line Of @ feet sin, An gg the Work of Erecting this
building is 10 be begun on May l. Ihe Pr3pereT LIS -
ton of this building the Improvement OF the -FOUR
corners Water and Wall SITS VII De &c NJ Wo
eomerv sold Nos 81 and So Wall-st and Nos 81
which has resold the property The property e com
prises three old fashioned buiidinss with Iros
Of NJ feet The other dimensions are irregular.
and on The west the Sampson Building. 1t was re
Gently reported that fifteen story office building
"4 anoth U important WaIst report was that the
Century Realty Compapy ana sro 1iiaa Parcel
bounded by VAL 7 mod f Pe Si par W OF the
site of the house in Pear-st- occupied by captain
" The Gehtg a Re Realty Company also reported last
week that it had bought for about $4,000 No II IL TO
= Fast We The plot has
frontapA Of - feet in of 80 feet
small gore lot at the southwest corner of the plot
was owned by William l. Kennedy Mr. Kennedy
represented in the TRANSACTION by J. Tolidti me
Brown & Co. The owners OF the REMAINDER OF an, inc
Mot were Francis A. Clarke and Ellen Bradley
Steese and their brokers were Gllsey Brothers No
on the block front the east side or Fltth-StVe-
from Twenty-siXth to Twenty-seyenth St, the New
IN his CITY is to be erected. The plans Tor the
building Of this big hotel it is said have stmula ted
the demands for properties the hotel site and
many important improvements 10 parcels in the
district are likely be made in the near future
The present TRANSACTION is The hrst pig purclds IN
The purchase by the Coe estate of the Reform
club property, at Twenty -seventh-st and Fifth
ave attracted considerable attention.
1.-The Real Estate Record and Guide IN us issue
of YESTERDAY. says in part regarding the real
estate situation: 49,, . ,-..
IT is difficult TO keep abreast of the many diverse
currents of activity and Improvement; put II rs q
sufficiently accurate description OF the present STU
alton TO say that at time since the present
movement began have the transactions mad 2
isreer sronc or A more healthy tone All kinds
1T iTnnrovement are being planned in large num-
hers The different classes of business property
ultimate plans the Equitable Life ASSURANCE so.
cietv may be- It's action Will obviously tend sun
further increase values IN me region o. pecear
II high prices. The immediate vicinity O the
new Hotel Brunswick WILL it is expected be meta
r1orDhosed and buying has begun in Twenty-sev-
enth-sf between Madison and Fifth ayes Twen-
t-aebfb-st from Fifth Fourth-aV will also
uhtyav station at that street will very
b,,er. fra fIe west Broadway In fact as Tho
tacyord and Guide frequently pointed out the
whole section between Fourth and Fifth ayes, N
4iIis ,cinfty Is coming In for radical changes. II
shoud be noticed also that in Thirty-fourth-st
also east of Fifthave; there Is evidence of bust
ness Intrusion But, although the most irnportan.
transactions OF the week have been in business
ronertv there Is evidence OF similar activity III