New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-04
THE WEEK IN REALTY.
Market for Improved Manhattan
Property Has Groom Better.

erty Manhattan Island Is growing better. This
is the type of property that is usually most aur-
ing TO investors and TO number of the leading
operators.
hundreds OF operators. however. II not the
majority OF them. the vacant land sections the
most pleasing. Those operators generally lead the
way for the speculative builders and for scores
OF persons looking make quick profits from
realty deals. In me early days of the stupendous
purchasing movement in The Bronx the big oper-
ators were more prominent than any other per-
sons. Now hundreds of builders among the
largest buyers of vacant land in The Bronx and in
the Fort Washington Heights and Dyckman sec
tons.
The presence OF large numbers Of builders In the
vacant land purchasing movement means much to
The Bronx and other districts of the city where
there are vast tracts of unimproved land. The
builder takes out OF the market for months
at least. great areas OF land and when he has i'm
proved his parcels he will look for investors
spectators in improved parcels to take them from
him. So next season should be notable for q record
breaking investment movement in Bronx improved
property and in the sections OF the city which will
be transformed by the builder the result Of the
present record purchasing movement In vacant
land OF course, unusually large investment
movement next season Of plots that now being
improved or are about to be improved will depend
more or less on good financial conditions and the
successful carrying out OF the building plans
Should there be serious building delays in improv-
ing the parcels it would be necessary for the build
efS 10 ask higher prices for their when they
place them on the market. and higher prices than
what the builders expect to ask may cause stsgna-
non, instead of vigorous market This is looking
at the dark side of things at a time when snch
thoughts are seemingly forgotten in the glare OF the
remarkably successful deals made IN the present
vacant lana purchasing movement. But the aver
age builder does not overlook such possibilities and
Tor that reason few tedious months or seasons NJ
realty istlesSness be laid to rash acts of bild
eis 10 Dc successful. builder must have an &C
curate idea Of market demands and IF he saw Moor
p-oStcc'S tor good demand next season for the
buildings he will then have ready for sale the
present purchasing movement in vacant land would
probably quickly end
Considering the magnitude OF the vacant land
uels II could hardly be expected that ths market
LOT improved parcels would be Of such volume as
to attract much attention. The majority OF brok
ers have been SO busy trying to find customers for
vacant land that they have had apparentIv 1t+Ia
uIle 10 seek market for many improved parcels
Now that the market for improved property is much
better IMAM II has been at any time since the be-
ginning or tho present realty season. large num-
beTs OF brokers are looking for buyers for many
Of the choicest parcels on Manhattan Island I'm
oouotedly the feature OF the realty market last
week was the better demand and the larger num-
Der OF deals in improved property
One Of the principal deals last week was the
sale by Boehm & Coon of the Lichtenstein Build
ing, Nos. 53S and $40 Fifth-ave to AdoIpb Levi
sohn. as an investment. L. ]. Phillips & Co. were
the brokers
The property is five story store and loft build
ing. on a plot 5O5x1O0 feet 1t is on the west side
OF the avenue. 90 feet south of Forty-ftth-st II
was built by the sellers in 1902 on the south half Of
the old site Of the Church of the Divine Paternity
The Brook and the Suburban Riding and Driving
clubs figured prominently in realty news OF the
week The Brook Club bought a new home for
itself and the premises occupied by the Suburban
Riding and Driving Club were sold through George
R. Read Co. 10 q company recently formed to
take over the property. George R. Read & Co
were also the brokers in the Brook Club deal
Since II was organized, little over year ago.
the Brook has had its home at No 8 East Thirty
hfth-st It's new home will be at No 7 East For
teth-St., four story and basement dwelling house
on lot 25X947XS5.6 feet. James Stillman lived at
NO Last tortleth-st for some years. The dwell
ing houses Nos. 10 and u East Forty-frst-st,
which adjoin in the the new home Of the
Brook, were also sold last week by George r Read
d Co. for Jackson Stern. The Forty-drst-st
houses are each on 2 lot 2OIOx1o2 feet. The name
OF ne buyer OF them was not made public last
TIE PT9perty occurred by the Suburban Riding
ington-ave. and on the south side of Depot Lane
l. was owned by r. Blocker Rathbone George
h. Read d co. also sold for MIR. Rathbone the
property on the north side OF Depot Lane on which
rs oe hoCSe oGcupe e by Mr. Rathbone The two
pan Riding and Driving Club to the site it occupies
Another important transaction in improved prop
erty was the sale by slawson & Hobbs for Noble
me new I'VE and one-half story American base
InenL oweiIlng mouse No. 154 Riverside Drive size
ZixlgU rect This is the first be sold OF two
Gauss on the Drive, between Eighty-seven4h and
tlshty-elghtn SIS, and the second large new rest
oence property on the West Side which has been
weeks. -N7' WV
John McCullagh. former Chief Of Police, who is n
iheInoeF OF the real estate firm of E Tanenbaurn
Co, sold last week the ten five story fiatbouses
with stores the east side of Third We occI,1tI-
ing the block front between One-hundred-and-
! EeTent!eth-st and St PauPs Place, owned Pv the
10 r+aJ
10 have been about $500 coo The properties Vii he
resold through Z. Tanenbaum &, Co To investnre
one OF the leading transactions in Park-ave was
parcels Nos SIS and Gas ParkaYe hei NAY or me
west side Of the avenue. hetween Sixtv-slxtb enS
SSII%Iy,seyenth sts plot 40xS1 feet. for Charles G
stoTy high stoop brownstone dwelling house ~;
| 10Y Ll.oNlFj2 feet. for Albert s. HeideIba CHI - ~
The Real Estate Record and Guide saws IN tts
ket. in part follows: ~ -44'
Dealings IN improved property in Manhattan
made a better showing this week than FOR a nm
the borough l22 improved parceis nnHtI, 81
Or thes" being rat and tenement houses ans tuar+--
seven dwelling houses. There seventy-sjT deals
IN vacant proDerty representing $50 lois OF ,Tass
4i9 were on Washington Heights In The 1srnrT
practically all of the business done IS still IN
property; the only change being that the maioritv
west OF Jerome ave. instead ~ a. IN
section affected by the opening the suhyVa1, 1rh
total number Of transactions for this borough 1.re
l69. l60 OF which were in vacant property renre-
sentnG 1879 lots. 80 'ePie-
small, but the offers they represent are in Soma =;
stances, big a house.