New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-04-24
THE WEEK IN REALTY.
n Record Price in the Central Fifth
aUe. Section a Feature.

Many choice parcels were sold last week and IN
some Of these sales more than 100000 In
volved. The central FTfth-ave. section continues
to stand out one Of the most active and best
investment fields. Realty conditions for the hand
ling OF high class parcels IN a manner most salts
factory to owners have not been FOR some months
so good as they could be. OF late. however. they
have improved. because Of the settlement OF the
Tcklayers' strike and an easier mortgage loan
market.
Despite the imperfect conditions which have
made it impossible to find quick market for many
types OF choice parcels there has been decrease
OF prices In any realty district and the general
trend OF prices has been upward. Judging from the
frequent reports Of record prices IN the last few
months. Last week was not wanting IN reports
about new records. and. as expected. the banner
sale Of the week. according the opinion OF many
persons identified with the market. was a Fifth
ave business building. occupied by Black. Starr q
Frost which stands on plot 49.5x100 feet at the
southwest corner Of Thirty -ninth-st.. diagonaIIy
opposite the Union League Club. This property
was bought by Jacob Dreicer the jeweiler.
Investment at reported price Of 100000.
Considerable doubt has been expressed to ths
correctness OF the reported price paid for the
property. II may seem TO be an unusually high
price to pay for corner lot having a frontage OF
about fifty feet tn the avenue but will it ap-
pear to be so in q few years when the great ho-sI
district from Twenty-sixth-st. to FOrty-second-st
in course of building Is completed? This big
hotel district extends as far west the east side
Of Fifth-ave- and at Forty-second-st. extends
far east the west side Of Park-ave Within its
borders two s5O00O0O hosteries. The Belmont
and the New Brunswick are being erected. well
many other smaller hotels. and when all are
fully occupied they will house many thousand
persons 1t seems that the day is not far distant
when most OF the side streets from Thirty-fourth-
st. to Ftfty-ninth-st. between Broadway and Madi-
son-ave.. will contain many more high class tran
sient and apartment hotels
SUBWAYs WILL RAISE VALUES
To a large extent the stability Of values in the
centre FIfth-ave section depends on its proximity
TO the best residential sections Of city and
improved transit facilities. When some OF the
principal plans for underground rapid transit
In operation the central Fifth-ave district is
pected to be brought much closer to New-Jersey.
Brooklyn and Long Island shoppers. The best OF
all IS that almost every section OF the city from
time point OF view will also be brought nearer 70
this section 1t cannot be expected that when
these rapid transit plans in operation there
will be any better opportunities for investment IN
the district than
In considering this question OF the conditions gov
erning the value Of property in this locality thu
length Of the section must not be passed
lightly. The section begins at about Twenty-sixth-
and runs to about FOrty-eighth-st.. little more
than mile. large part Of the section is already
out OF the market. as IT is improved or is to be
improved with buildings be wholly partly
occupied by some OF the leading retail houses Al
most week after week other parcels are beiry
bought BY retail houses for their own use. and as
the supply Of available plots for improvement Is
decreasing and the demand increasing there be
only one result higher prices in the near future.
The day for dazzling record prices IN the
Fifth-ave. section is apparently at hand
a comparative table OF certain prices paid for
parcels IN the section Of the Black Starr & Frost
building furnishes fair idea OF the rise Of values
In the section in the last thirty years.
Price Prices 8 y ear;