New-York tribune., 1905-02-19
THE WEEK IN REALTY.
Increase in Number of Pirate
Transactions

Activity In realty fields is daily becoming more
widespread. For the last few weeks the volume of
business transacted has been unusually large and
almost every day a remarkable increase in the
number of private transactions IS noticeable. There
IS unusually pleasing market not only for CEN
trail 5th-eve.. upper West Side Dyckman. Fort
Washington Heights and Bronx parcels. but the
demand for choice downtown plots in the business
section IS excellent. The time when builders will
he ready TO begin work many plans for imprOv-
ing largo areas Of vacant land IN the Dyckman.
Fort Washington Heights and Bronx sections
is near at hand. and Il is expected that the pur-
chasing movement Of vacant land in the upper sec
tous of the city will by that time be nearly twice
large il was last fall.
II is the duty Of writers on realty subjects to
tell all the pertinent facts about realty operations
IN clear and concise manner. even though the
facts may be CALLING 20 all some Of the persons
Identified with the market For that 1t
stated in this newspaper last Thursday that
tain little spectators according 10 the assertion
of some realty leaders had lost money in The
Bronx purchasing by trying to swing
10000, and S3coepo, deals with a capital Of
about 5000 The inference has been drawn from
that statement that The Bronx purchasing move
ment is only dazzling realty operation TO lure
into financial straits scores Of spectators builders
operators and investors. No such idea was in
tended 10 be conveyed. but the fact that of
the pestiferous nuissnces Of the market the little
spectators with sums OF from $500 to 5000 now
know 10 their sorrow that 10 contract buy par
cells in The Bronx valued from 100000 TO $4,000
with 5000 capital leads financial disaster. And
moreover. other little spectators with similar
ideas should be benefited by the experiences Of
certain members of their ilk.
II is the judgment Of nearly every leader IN the
market and OF most every wideawake broker.
Speculation and investor that The Bronx is one of
the safest and most attractive fields of specula-
tion. Thousands Of dollars have already been made
by scores of persons in the present Bronx pur-
chasing movement, and these and hundreds of
other, persons expect to make equally large
sums Of money from speculative purchases there
the coming spring It is undsputed fact that
the city is wofuIly underbut in fathouses and
because Of this and the betterment of the traffic
facilities in The Bronx and many plans being per
fected carried out 10 make The Bronx more
slurng 10 the fiat dweller and other persons. land
values in The Bronx have risen rapidly in the last
year. and, unless all signs false, will continue
10 DO 50 for some years
Some idea to the stability OF The Bronx pur-
chasing movement may be had from a letter
written by Frederick Johnson Of the we'll known
real estate firm OF George F. Johnson & Sons, and
addressed 70 the real estate editor Of this paper.
Mr. Johnson says:
This firm George F. Johnson sons sold for
ny Sr,f tateer n George Johnsoa nearly $4,000
rather owned for twenty years. In
for the property neither has there been one single
Instance in which the purchaser has rejected the
this property ffty-four APARTMENT houses and from
H6 70 80 feet in width The builders of these houses
Include James a. Frame & Son. who have had a
extremely high reputation as builders in Manhattan
Tor several years (they lately built at the
ad-St- and 5th-ave). and George c Edgars Sons.
who have an equally good reputation in Manhattan
and whose last operation at 92d-st. and 5th-
ave We ourselves are building twelve 4o-foot
apartment houses.
One OF the principal transactions reported last
week was the purchase by the Century Realty
Company and Charles T Barney and several other
persons Of the Alison apartment house. No 80 to
e54 Madison-ave., 7433xl0o feet, from Matthias n.
Forney. Richard NJ Montgomery was the broker.
Mr.. Forney acquired the corner from J. y. A. Girls
void in 1880 and the other two properties about
ten years ago.
The City Investing Company Rlake & Dowling)
bought; through Robert Colgate from Archibald D
her of e3d-st. and Broadway. The price was about
t275. 90
Another big transaction reported last week was
the sale by the Fleischmann Realty Company TO
Sismund Nettel, through Nathan Weiss. from the
plans, eight I'VE story four family houses, each on
plot 4X9 II feet the north side OF l35th-st. 100
feet east OF Broadway. The buyer is said to have
paid about $4,000 for the property.