New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-27
THE WEEK. II REALTY.
r.rs-ol Increase in The Bronr
Building Plans.

- tttAAaA'ts
,..-- ,s here hu. lot The expected s7TlHs &C
.. II trn5i-g operations. Last week mo ala'-
w. = ---.-s..v. and barren q spectacular sales
fe' 70 80, more ol many large and interes ling
sh' 100 f..t not one of these could be VeTlaeo-
= e--.7.ses and tenement house purchasing move
- ..r continues % be one q the most interest
,-..,-es o. TIRE market. ard shows no tELs
i-s -t-r y IS likely 20 become more vigorous
9 ,---r re duL summer season. as the
from p. a. and tenement houses which can
N -, - aD wei rented. anc are On Eooa
~ 800 Ills Is particularly ettrHctiNe 10
p's'-s Investors as they Go not have 70 wa-t
r.. --,-trs fcr r. return, as they would u taes
- vacant property.
i.-s - tf--e TO study The comparative tables ~
-...ie-f~s fo- the first three months or ms
re-ll --- though The last week contained no
- -t.,-s revelations o. new purchasing move
,-----ve-re-t projects % cid not JACK some
-. es wei - dlspleas.ng, features one ar
.-st~h caused considerable rejoicing was me
~ l---.-re "a the number o. plans fled for
t---~- 20 - erected 81 The Bronx as com
- 4.A che corresponding week o. last year.
---s-ver -he number o. plots In The Bronx
go Isst week Tor Improvement IN the near
-. was large. and gave indications that the
- ENACTED TrorK building boom was vel under
wy. ... ,- a.. See.
- as 81 against Il for the corresponding week
,-gs Fo- she erection o. the 80 buildings about
-so ss 10 De spent The = buildings erected last
- eor which plans were fled IN the week q
--s-.b o. 1902 cost about 900. i is an almost
..-7ien-fte5 assertion that there never time
!, dis city when there was need OF more modern
tenement and fat houses. u this were not true
shore would then be apparently no major reason 70
trur1r- the great rat and tenement house Tur-
chasing movement OF the present season, which IS
~ srl-h magnitude as 20 have attracted not only
,be at-eution ~ nearly every owner OF hathouse
-.- lie NH -H O. raH O.
aot Identified with the real estate market
INCREASE IL BUILDING PLANS.
So Tar this year The number % Manhattan and
Bronx building plans fled reach 2 total Of AZ.
gain OF Co over the corresronding period OF last
vear. and the majority o. these are fiat or tene-
,,srf houses About $500 900 less is 10 be spent
.o- the erection Of the 81 buildings than for the
lesser number. but this decrease affects only Man
haitian and not The Pronx. The statistics Tor The
Bronx show that the cost OF the buildings 10 Doe
erected there this spring sOr which plans were
er-5 since January IS more than s. 600 90 greater
than the cost given Tor tho buildings projected
eo- The borough in the first three months Of last
sss- These figures mean that more modern fat
snd tenement houses VIII undoubtedly be built IN
The Bronx this wear than last year. and these
buildings should help 20 place within the reach or
Thousands o. families OF workiuEmen comfortable
and clean fats az rentals well within their reach.
The Bronx is an ideal dathouse section despite
been laid out and arc stiu nothing more than dirt
roads. The water system q The Bronx is said 70
be tust as good rs that 81 Manhattan, and ITS
sewerage system lis iu many sections newer, and
Therefore better There was time mot SO long
arc when The Bronx was often called Malaria
vile bat that time has gone by. Improvements
have practically wiped OUT IL Is said the pools az
water in which the mosquito. held responsible
sor malaria bred The Bronx IS now one OF the
most hoalthfUI sections of the city according 10
many real estate and medical men. and within its
borders is Pelham Bay Park. one OF the largest
parks 'u this city
Speculation is mot abundant IN the Penrsyl-
wanna tunnel terminal section and this fact should
cause considerable surprise, Il is true that the
value o. lots in the section has largely increased
since the Pennsylvania Railroad Company
nounccd its plans build tunnels under the North
snd the East rivers The asking price % lots there
now is not within many figures so high as prices
recently paid Tor lots IN side streets near the
Pennsylvania station "a Philadelphia According
20 real estate operator. many OF the Philadelphia
lots cannot be bought Tor much less than 500 900
each. while lots in West Tweuty-seventh. Twenty
EiEL-h and Tweuty-uinth SITS, within short dis
tance Of she Pennsylvar1a tunnel terminal here
can be bought Tor about $4,000 each
A REALTY PArER.s OPINION
''TEe Real Estate Record and Guide" IN its last
issue. says iI part regarding the real estate Eltua-
ton.
The existing speculation "a fats and teneuents
ftpas-ez iu us way anything OF the kind which
tory ut The city. Week after week the sale q
almost one hundred ana ffty q these buildings IS
Ielo.teai whereas only a year ago. when real es-
tate Ta- very active there were not reported each
week one hundred and fifty 81 les OF all the DIFF
ferert classes o. real estate combined. OF course,
many r- these 81 les represent only the passing on
o. p contract from one sueclIator 20 another. bur
this fact. while q disriUEuisheS the existing a--
tyty flats and tenemeuts from an Investment
terlze The speculation than 10 diminish its !m-
portarcc.
class ~ properly which is usually sold only with
some alttrllty. The reason why zeal estate is not
east 20 sell De- that buyers and sellers usually dfer
leo-9a.E about their estimates o. The value q
uon as the one nov taking place in tenemeuts
would De- possible were not The value ~ these
standard conditions. At The present time rents are
ii.tNrTulF high, Ta2aLCHS are rerTCed 20 mini
mum and me pTei7e TaIlo q the property. -rc-n
e. income point q view can be pretty Wen Hs-e--
tatrcd j}ut rs 81 is only recently that these con-
o-tlols nave rrrviilec- big opportunity has been
o1erco 70 sDeclafars . rid 10 the prices ~ te-e-
merts in certain new districts 10 the lCKcl estal-
lEfed IN other parts u The CITY.
TIE truth is THAI Che ownership and care q
people - small capital who are making business
q trading i1 them and exploiting rreu The o.
49, 1910 W. ii+ti 81, ..-i ne , Is g. go s nave
class ~ property. however profitable. a nuisance:
md y BE- people who do not mind TIE boiler end
who Increase their profits by collecting their own
- g. These people are experts IN the possible and
present value q tenement houses and we fully
lsh ~ Eaet Broadway p tenement house exchange
N Which quotations Tor standard classes Of rero-
Lsl,s WI he placed on board and VIII vary 40
torong 10 prospective renting, taxes ard tho like.
-R
TRANSACTIONS m REALTY.