New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-11-27
THE WEEK IN REALTY.
I'm prOrcmcnt IN Manhattan Business
-MOrgan's Plans.

There Was 2 marked Improvement last week IN
the market for choice parcels on Manhattan Isl
and This Improvement Is likely to continue
Throughout the present season. and result IN the
erection OF many sIysCTapcrs in the downtown
section ana in the transformation OF many plots
~ the best residential sections with high class
modern dwelling apartment houses. At present
there Indications that the volume of deals
IN choice property on Manhattan Island this year
viii exceed the reTord ~ 1907 be fair
second 10 IT. II is seldom thar the realty market
aWakcns from q lethargic state to one OF unusual
activity for any type Of property I'm week a
day. The present purchasing movement of land
81 the upper sections OF the city not the
suit Of quickly laid plans When the subway
routes now IN operation approved by the
Rapid Transit Commission the spectators and
operators began 20 lay their plans for their
trance into the vacant lane sections OF the city
this year. Il the men OF small means in the mar
ket had had their way. the remarkable purchasing
movement in vacant land would have heea we'll
under way before tho subway was open TO the
public. But not being financially strong enough
they had to wait the leaders in the market
The principal transaction of the week was the
purchase by J. Pierpont Morgan. through Douglas
Robinson, Charles 5. Brown & Co, of Mrs Arson
Phelps stokes's house. No. 229 Madison-ave..
parcel at the southeast corner Of Thrty-seventh
ST. with frontage of $50 feet in the avenue and
~ 157 feet in the street With this purchase Mr.
Morgan now owns the entire block front on the
east side of Madison-ave from Thirty-sixth to
Thirty-seventh-st.. which fact reported II
The Tribune at the time OF the sale Of the Stokes
house For some years Mr.. Morgan has owned and
occupied the house at the northeast corner Of
ThIrty-sixth-st. and Madison-ave. He recently
bought the Dodge house. No. Do Madson-aye., on
a plot $50 by i5T feet, for about $4,000. He also
owns with the exception OF the Park-ave. corner
block front on the north side of Thirty-sixth-
ST. between Madison and Park aves. In the rear
Of the house he occupies he Is erecting an annex
.r-,-
and library treasures.
The Dodge house IS the only one between that
in which tie lives and the Stokes house which
rented last year for the winter 10 z. H Har-
riEnagl. What NJ Morgan intends TO do with the
Dodge and Stokes parcels IS known. He has
get MADE public his plans on account Of
The ma gntude OF his realty purchases many
suesscs have been made by real estate brokers
as 70 what ne would DO with his realty holdings
Ore real estate man thinks Mr Morgan VIII IN
me near future be the owner Of the whole blo,u
bounded by Thilty-sixth and Thirty-sevefl:h ets
Madison and Park aveS., and that he will then
erect there large mouse for his own OCCUPANCY.
with greater annex for his art and library
treasures.
The price paid by Mr. Morgan for the Stokes
sorse was not made public. One report was tbar
he paid slo0ot1o fer the property. The Stokes and
Dc6ge houses are in many WAYS similar and the.
occupE plots OF the me size. The assessed vain
stlcn % the Dodge plot ls S25ey9 ord os tho plot
"a aud
feT the house ana plot :;a905. M Morgaa.s home
properly go feet deep IS assessed at Ss9Q0U
Mrs AascI Phelps Stokes is TO live opposite the
old home. She bought last week from Mrs Anne
~ Arehoold, "'il@ OF John D. Archbold vice-presi-
gent ~ rs >'aHoarf Oh COMPANY. tie house at
;he northwest corner OF Tnfrty-seventbs- -
Msdisoa-2ve-. on a 10, c7.sx95 feet Mrs s.okes
formerly Owned The property. Saa sold II about
nfefB gears ago .,Ee viii make extensive a'--rsN
tors au1 then occupy the house. pe.Ee IN
man we're tse 2foAels II that Transaction, Got
oTliy Eesa Douglas Robinson. Charles p,r.... g
90. Ihe DroarTs u ire Stokes transsotiof, -. =
sac iast week for the estate Of F;IjzaHeTI ~
Russell OF the northwest corner of PsTL -, "A -
a1';-elshth-st comprising n four story brick ana
stono oEtlDpE house on dot OF ground = feet
81 Park-aye. l.y 100 feet IN Sixtv-cici,tb m
asking rrtce for fhe property was $4,000 re
lste f:cHEy Russell bought tie proDerfv II, 1S. "e
Through AiaeTt r. AEkfortn Or. William p NJ,
fsncorf bought last seek Nos. IA and l;C Madi-
son-siye from the CITY Real ProDerty .,s r -1Hli
gasEt Company: iie owns an adjoining parcel
tons vas The sale ihro.sh the Charles = 80 So
COMPANY TO client for tks Lucius 11cksry3a g