New-York tribune., 1904-08-21
THE WEEK IN REALTY.
Demand for Flats in Harlem Many
Times Greater than the Supply.

There IL rot single report In the list OF 1e'i'S
transactions announced last week that is hKeiY 70
cause rny operator, specul1tor or any pe'90
,6or.taeJ with the market have nervous prostra-
lion or 20 be overcome with Joy. The hst Oh re-
ro-ted transnc ctio-s is ordinary. with only few
sales In that list there are no signs that can De
.a.o-,a 10 guides 10 future conditions SO
ouefly and nosele5siy is the business OF the 'e'tS
market being transacted just at present thdt ''e
rroblems awaiting solution are almost forsot'en
One of fhose problems IS how the building 1faues
sifnclItles are 20 overcome. that buliders may
have an onno-tunity - catch with demands TOT
fatsouxes IN Harlem and in otllcr sections ol ''ie
city MANI owners CT North Side properly asseit
,s-v one of their houses is flied. and there arc
seve-aI families waiting 70 take the lrst FacaIi0'
Yrtero are some other owners of Harlem properly
vbo saw that all this talk about the city oeiiis
yra, l1nderi,.lt in fEthouSes for tHe houSI.e
aarso,.s O, moderate means is "all bosh- III 'h's
,alk is all hosh' however. neat Duhco g.
- ,,;avad on the hundreds Of investors "no
bought Harlem fathouses last spring Ht pi.
and 20 per cent higher than at wha' 'He "o r
could be boueh: year before NO o"e " -
Investors thinks he was buncoed. so far as Aiio,
.r5 81 "a almost n certainty that every one Oh
Thorn personally investigated the Harlem ha'houNe
situation before buying in that section
HARLEM PLAYHOUSE MOVEMENT
Was there ever a realty Increment IN th's eits
81 fascinating from a purely real estate PoH' 80 |
view as the Harlem fathcuse movement -, % |
surinr7 And has that movement oieu t.,r
so,b mr. n Is ONLY slumberng now ana se',ims
o.,- ,teor for a surprising awakening Ihe Puo'i0
IS not paying much attention TO the ffafieii H'
horse situation, for It seems 10 De d -. !
.r,het,z evervbodv's business is nobodys business
- II.-Ian, aathouse movement of last spring !
-. ,t+riru,ed to many causes. One was lhcrea'
rcntals in the Jewish colony In INC io"Vi -
Side another was that the modern Vehe" -
- educated MANY thousands of tenement mus
- - = ri~bt npprecation of It's superiority |
over The unsaa attary old buidings still snother s
the desire OF many Jews to live IN q pe'te ~.
ton ~ 4be city than the lower East Sioe anu 80 -,
a.,rac+iveness of Harlem rents in comparison WIN
,., -o,ts From the spectators point OF
,-,.u, tho demand for fats in Harlem ana the gen
eral opinion that owing tc the buluihs -
troubles IL would take several years peIo'e o ~
ers would be able 10 meet the demands p9r neNOI "a
DrIced Oats were given the principal cause Oh
tho purchasing movement in that section
since that movement have the conditions afIect-
ing the medium priced fats improved OF sio".
porse? Building trade troubles still continue ana
the money market has not been as allurlhs to
builders as they had hoped. Against these oo-
stacles building ia Harlem and The Bronx mas
gone along slowly and all the while the ueiiianus
So, noreons in moderate circumstances for mats
IN modern houses have been growing DAILY IN
creased demand for such flats means higher rent
ais AS one large owner Of hathouses IN ffarleh
said TO a Tribune reporter on FRIDAY IN speaNe
of the Harlem hathouse situation Inns Is 'iui'
landlords day in Harlem
PRINCIPAL. DEALS OF THE WEEK
was the sale by the Century Realty company TO
charles Brendon Co. builders. of two lots 5oxlco6
on the south si6e Of Fifty-second-st 10 feet west
Of Park-ave.
B-endon & Co, who are successors to Charles
Buck G. Co, will at once begin the erection OF
three high class five story American basement
dwelling houses, with frontages respectively OF
IS L and Is feet the site
These lots were purchased by Flake Dowl-
ing from the Roman Catholic Orphan Asylum.
sold bv them to the Central Realty Bond and
Trust Company, and by It to the United States
Realty and Construction Company at the time the
latter was formed. The Century Realty Company
acquired them from the United States Realty ard
Construction Company at the time tho former
sold the stable property at Forty third and
Forty-fourth-sts. and sixth-ave. to tho latter.
The brokers in the transaction were Buck &
Crawford.
Y A. Berwin g. Co. sold for Frederick C. ZobeI
10 Randolph Gpggenheimer the nine and
half story Office building on lot 50xl1o feet, Noe.
q and IS East Twenty-hrst-s... adjoining Broadway
This building has just been completed and has
rent roll of $4,000 In part payment Mr.. Gug-
genheimer gives No. to l3 walker-st-. six
story mercantile building. plot eOxO7 feet; also
40 l.5S TO 15sS Lexngton-ave, six three story and
basement dwelling houses. on plot io0x75, and two
lots at one-hundred and eighty-hinth st. and Au-
hs IS e second fe5 Guiding ths ooSt Bs4W
Co have s2ld for Mr. Zobel this year, the other
i West e vent ftST st. 0ndins NOS ~ ana
wheh2gss u fsasss Porter sold FOR william TRAY
zweg and Samuel Green the block front on the
sixth ard One-hundred- -and-seventh-sts The size
e of the plot is 2Ollc11Oo feet. The buyers have
h On nes e!sf m tSe old ID PsTaa s se9n s1e. Mot a.
the southeast corner OF Forty-fouTt-st and Fifth
Company The Gn:ted States Is Realty and 'e1,r Com
corner plots IN this section Of Fifth.ave. uniR
proved Title 20 the property is now held by the
p which the Century Realty Company retains one
dent of the Fifth Avenue and Foriy,f6urth Street
Company. Among its directors are H. s Black
r. j. Babbage and John NJ Stoddard
and rea word d neds en4E Il ihe and e
iTrson Seligman. Edmund L. Baylies and Percival
1903 II was sold by this syndicate to the Century
Realty Company in May Of this year.
Is known shat several proposition .oncsTn5g
Gently been under discussion.
A REALTY PAPERS OPINION.
The Record and Guide" says. in part in fits
last issue regarding the real estate situation:
Apart from few sales Of private dwellings. the
og fea din estate m transaction ans of any interest
interest OF the old Paran Stevens property Al
Realty Company 10 the United States Realty Com |
pany. '' ~oii-
II was intended originally that A hotel sbouId h. !
erected on the site. and indeed, hotel after the
manner of the St Regis would. under ordinary
circumstances. be the most profitable manner In
which tho size could be employed But lust at nr.a 81
ent ne would be bold man who would put sew /
70 matter how excellent the site might be- Three |
hlg new hotels win be opened this fan and sew |
sr'l more win follow soon thereafter. New-Yorz
a. MIN spite m @ Of me passing by Of several older hotels
VII oe suEnclehty wen stocked with this sort OF
Ecc,olnnodation for many years to come, particu-
larry since the new apartment hotels are also tax
~ with hotel out of the question and ohssgqent, v
remaining club IN New-York s,fficientlv o1t,en3 9
POSITION Of m %ond Be- ie s sa 9y 90 other possible dis
frn, and this Is probably the best to which it