The sun., 1904-06-19
THE REAL ESTATE MARKET.
BRONX PROPERTY FINDING
READY SALE.

Great Demand for Flats and Vacant
Lots Aiong tho Rapid Transit Road.
Transactions in Bronx realty constituted
a notably large part OF the brokerage news
OF last week. The proportion OF activity
credited to that borough Is growing rapidly
as the summer advances. In many quar-.
ters it Is believed that by next fal! the cmei
seat Of speculation and investment VIII
have been transferred from Manhattan TO
The Bronx.
This opinion is conditioned by the sup
position that trading will for the rest OF
the current year continue to be confined
10 the less expensive grades OF residence
property. At the present time there Is no
Indication OF any revival OF business IN the
mercantile and fashionable dwelling dis
tricts of Manhattan. In the absence OF
any restoration OF activity there, expansion
OF trading in The Bronx at the expense OF
Manhattan Is regarded as a certainty.
Prices OF flats and tenements have been
raised to high levels throughout practically
the entire length OF the easterly part OF
Manhattan in consequence OF recent speou-
lation. The operators who took the lead
in that speculation are now figuring prom
inently in the new Bronx movement, which
Is to constantly increasing extent receiving
the support Of capital formerly employed
below the Harlem.
The northward progr ess Of professional
enterprise is evident in many ways. The
building and oonveyancing fig ures for
The Bronx are far ahead Of those OF last year,
The private sales reported during the week
Just closed were more than once again as
An n
corresponding week a year ago. The bulk
of the trading was the same in general
characte as that which has been in progress
in Manhattan. 1t affected fats and lots
suitable for improvement with such houses
The activity Of property OF this kind kind
follows the line OF the rapid transit ROAD.
Five story fats are being erected in great
Southern Boulevard, Westchester avenue
and intersecting streets. The territory
within, say. fifteen minutes walk OF the
rapid transit road is virtually projection
of Harlem, and fats are selling there as
soon as completed. They generally bring
Rents in these Bronx fats are the same
as those which prevail in Harlem. They
prove attractive because the houses are new
and built according to the improved models
law, and because rapid transit will presently
make The Bronx as accessible as Harlem
now is. The tenants are largely people
displaced in Manhattan by Jewish and
Italian immigrants. The main factor in
encouraging building enterprise in The
Bronx is that lots available for the same
grade of improvement are cheaper in that
Borough.
While the larger share OF the new move
ment north OF the Harlem River Is limited
to what may he called the hathouee dis
trict tributary to the rapid transit line,
the demand for private dwellings and two
family houses is also considerable. Such
property is, of course, distinctly suburban.
It has to meet strong composition from
Brooklyn and Queens, whore suburban
lots are lower in value than in The Bronx.
North Of the Harlem the existing supply
of one and two family houses Is to a large
extent already in the hands Of owners
living on the premises. The nei eighborhoods
sold at profit are comparatively restricted.
They are generally limited to tracts that
have remained in large individual holdings
until recently. Where such infrequent
tracts are to be had within reach Of trans
By operators and resold at lower prices
than those which prevail where lots have
passed through several ownerships after
being marketed at retail.
One such neighborhood Is comprised
in the old Fleetwood Park racetrack, where
a GROUP OF fifty lots was bought last week
by a syndicate for Improvement with two
family houses. Another is at Weetcheeter.
where eighty ceres belonging to the Buhre
and Ferris estates were purchased by the
Bankers Realty and Security Company.
ton Of j. G. Van Horne. civil engineer:
1t Is the intention to sell improved as we'll
as unimproved lots and twenty private
dwellings will be erected that will be offered
at s., 600 to $4,000 each. The holding fronts
on Eastern Boulevard and Pelham Bay
Do rly Tha 1d
will, it is said, be extended to the property.
the purchase of which was induced by the
improvements about to be made in Pelham
Bay Park.
In Manhattan, activity has been falling
on rapidly in the recent past. The period
of midsummer quiet has already begun
here, although in 1901 and 1902 1t did not
commence before the middle OF July. The
volume of business was. indeed, larger
last week than in the same week of 1903,
value on account OF the shutdown In the
building industry which then existed.
It now appears likely that new labor
disturbances may develop. strike has
been declared against the Otis Elevator
Company and the brieklayers are threaten
enterprises requiring large capital are
Of course, peculiarly sensitive to changes
in the labor outlook. Any renewal OF con.
struction work in Manhattan beyond thai
whlCn mas already Cdk6n plaC6 ID the t6nG-
ment sections is therefore regarded q,
improbable during the rest of this year.
Private Sales.
DRoSX.-M. Morgenthau. Jr. Il Co. hav,
sold for Conrad kopp to the Penates Realty
Company the plot s27xi3S. on the ives
side OF linton avenue. 2o7,6 feet norti
Of l8ist street. The property Ia two block
from the rapid transit station at Prospect
sold to client OF Charles Jungman.
SHERIFF STREET-John X. and Oscal
L, Foley sold for the Trainor estate. No
on lot 2ox9o.
FIRST. AvENuE.-John Peters has sold for
Charles F. Davod, No. 1907 First avenue
a five story tenement with stores on lo'
25x0i.
PARK AVENUE. The Borough Realty Com
pany ,Boehme & Boehme), have sold K
the northwest corner OF Park avenue anc
Sinety-siSth street. Mr.. Rohrig will erec
six story elevator apartment house.
NINETY-FIRST STREET.--Mrs. E. P. Schel
has sold No. Al West Ninety first street
three story and basement dwelling. OF
lot ls.9xl0o.5.
i04TH STREET.-Alcna B. Shaw has sold
No. 3o7 West l04th street. three stor,
dwelling on lot l7xi00ll.
l84TH STREET.-Silverman Levy hav,
bought from Leonard WE'LL the plot, 7Ox9s. l
on the north side of l64th street. 100 fee
west OF Amsterdam avenue.
AVENUE Airs. NJ. A. Haag has sold Nos
nd ~ at brio