New-York tribune., 1904-10-30
The WEEK IN REALTY.
grOar Deal Nets a Railroad Man a
Profit of More than $500 900.

]
.Fuuos dollar deals were reported elmost every
AZ OF the week ane there Rere countless rumors
= IRE probable sale IN the near future cf more
s.rzs tracts OF vacant land. The last six work
~ days have been appropriately named the sub
-. week IN realty. for the plans that we're ma
auFsd and revealed were mainly the result OF the
eunding OF the subway and thu recent announce
.-,n, that the SeN-Roehelle branch OF the New
rort KeU-Haven and Hartford Railroad was 70
4. maze six track road Rnd operated. II possible
!, ooninncgion Ntth the subway. X there ever
sus 9 purchasing movement IN vacant land IN the
prckman and the FOrt Washington Heights sec
sions and The Brcnx that Is greater than the
vressnt one. II within the memory OF the
Generation now active IN the real estate market
Ths purchasing movement is unquestionably the
largest and most spectacular Of its kind In many
-earE II apparently offers 50 many chances for
quick ene large profits that Il has diverted
attention 70 6 large extent from the readjustTneni
cnerstions OF many OF the big builders and opera
so-s owning high class Investment property.
What many persons Identified with the realty
market would ike 70 know is how long VIII the
purchasng movement II The Bronx continue and
how large. if any have been the sums made By
callers o. vacant land IN The Bronx in the present
hooua. How much was the profit from the sale OF
ths Fane. Meyer and Crane tracts IA The Bronx
&c Questions which realty operators. investors
brokers and many other persons in the market are
Esgtng one another. These questions remain IN
answered Il Is. however. well known fact that
boom there have made more than 100 por cent
proat from their Investment
RECORD OF ONE BIG DEAL.
ore OF the most successful sellers was Henry F.
eho.enisker the railroad man Realty records show
thar Mr.. Shoemaker bought some three hundred
lots IN nehuadred- and-forty- y-ninth-st. Prospect
ers end the Southern Boulevard IN 1885. al auction
for ssooN He sold the plot OF lots some days ago
= rbe Central Realty Bend and Trust Company. Of
which Henry Morgenthau is president tor about
a OseV cash Il Is fslr 70 assume thar the hxeo
charges for carrying this plot for nine years weie
rot r,ore than $4,000. Thus the total cost OF the
Plot 10 Alr. Shoemaker was not more than $50 Oea
end the pr6dt he made from the recent sale Of the
tract vas about S55oOo0
one o. the leaders IN the market told TTibune
reporter yesterday that he had received word that
the Central Realty Bond and Trust Company had
Already made $50 600 profit from its Bronx pur-
chases THIS company sold the Shoemaker tract
before Il took tttie 10 IL
Ths principal Bronx transaction last week was
fbe sale hy Charles H. Esston s Co ana Malcolm
2 Fane for the Crane estate CT TIE six blocks
bounded by e-hurd-ed- and thirty-eiEhth and
Cre-huudred-and-f -foTty-hrst sts- and the Southern
Boulevard and Oppressive The United States
Resl1y and Improvement Company and the Century
Realty Company we're the buyers About 100000
Vs raid for the property. This is the third time
espce the eighteenth century that the tract has
rfrarres hands Governor Morris got the prop
r-yv sucer grant from King Geo-ge III. and n
J. Crane the famous clE pet SNIP oNa-S-'
bo,.ght il from the Morris estate as site fer
eoprrrv home ara as an Investment. Mr. Crane
vas member Of the firm o. Bucklln. Crane 8 Co
Ff-un,y believing n greater realty rupure TOT
The Bronx than was foreshadoved by the building
Of The elevated lines years ago. the Crane estate
zen, ra t-ac- irrec. The elevated lines made The
BronK ailurirg as & home site for thousands OF
persons and one OF The Bronx sections 70 be
benefited By the building Of those lines was thai
e which The Crane tract IS part As e result
vu-TFF, SIC
The streets thro9ga The tract were laid out son
years ago Sever. gas and water mains also run
through the property. he parcel has for some
ysga been ready FOR The builder. and ii Is expec-ea
rasi Il viii be long before rows and rows Of
eatheuses are built on t.
ENTERING THE sRoNx
This IS the first Bronx purchase made by the
United States Realty and Improvement Company
rad the Century Realty Company What caused
these companies 70 enter The Bronx was the al
trsotiveHess from realty point Of view o. the
property. The tract is within e short distance or
the New-Rochslle branch OF the New-York, New
Haven and Hartford Railroad which. as already
Ea.d- Is 70 be MADE into six track road. II is
slso within easy reach OF the Third-ave. elevated
fced and number of scrface lines
L was learned yesterday that the BUYERS OF the
Crane tract could have resold the property o..
Friday 81 . tsiT advance over the purchase price.
This oher was not satisfactory ard therefore was
not Ecce--ed
reported
week Ves four blocks owned ty William z BeeI
and The william 2. Beal L,and and Improvement
Company. The blocks reported sold are bounded
ay Powers and Cypress eves- Orle-hundred- and
solty-frst and 81 Mars SIS: by Or4S -hunered-and-
tortS-tTsT ana One-hundrea-a and -torty-second sts
FoNers and Robbins aves-: by Powers ana Robbins
ewes one-hUndred-s -forty-second and ST Nary's
sis and BY OBe-hundred-and forry-arst and ST
Hays sts~ Beekmsn and Cypress aves with the
exception OF eight lots IL One-hund red-and forty
I1s'-si, which were sod some years ago and are
improved
MANY DEALS OK NORTH SIDE
J Clarence Davies was the broker in many Bronx
essls He scla for Charles Strauss the plot Of
sos al the northeast corner Of College-ave. and
honared forJys!xth-st I09xlssxl5Oxs2 feet:
eT Loals z Mi.ier the plot 65xl5s feet the west
sAo-Ait3 -sixth-st.: for Kari NeuhOf lots 50x
81 teet on the west side OF Prospect-ave.. north
>eslis two lots the west side Of Prospects,
5sel north Of One-hundred- and forly-nint hist.
Aol ony was the plos Of rs lots IN the blocks
kg-aoee oy One-hundfed f1d thirty-thlrd ane One
Cen5rai Pealtv Rond snd Trnst Son1aT5Iv ana he
fleisehmsan Realty and Construction Company,
rs ,sS9o asi week oF L } Phillips q % 70 various
va found Bernard smyth & sons we're the brokers
ne llernann deal Charles NJ Rosenthal the
'F end SOM Brothers the sellers
,l1e Ilemsnn tract sold comprises two square
tEsnty-hfJh 10 one-hundred d-tverlty y-seventh
tontaFes IN One-hvndred- -and-twenty- -afth. One
ttSsaTse -anei Senty-sixh and One hundFed-ahd-
The sellers purchased the property a few years
tnann. who Inherited the pro5er1y from his father
entoHy Tismsnn IN lgs when fhe tract farm
slooe on the parcel Ter many years fie lived there
n - e 1850 he period - Ms administration as
- tne subway station Manhaftan-st and Broad