New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-05-21

,,h5ec+ Their onnion may be accurate. but after
listening for many months TO the pleaolhgs OF
the majority of real estate men Tor puiluIS 10
hasten the erection of more modern HA'louSeS
and after meeting a vast army of persons uIisuc-
! cessfully seeking for homes in new Ia" hd'house
| and then getting in the whirl Of ACTIVITY IN the
vacant land sections it Is difficult 10 UNDERSTAND
how any hold the opinion that the oeih'Hlu
for modern fathouses is not greater than the sup
ply For a long time all realty signs have forceLul-
| Iy indicated that great many more ne" Id" 'e'e
ments were needed and that more attention shoulu
be paid this year this type of building than any
other Surely the subway cannot be considered the
sole for the phenomenal speculation III va
land parcels for the building DOOM III ING
vacant land section, especially in The Bronx. NJ
the opening Of the subway it appears was only one
of the causes of the various kinds OF realty V'gor
of the last eight or nine months. and another OF
the principal the general pellef thau
the supply of modern law houses was lar less
| than the demand.
It was not so long ago that the market for mod
ern fathouses was far from being excellent what
| a pleasing change in realty conditions mas DC
Cured since the speculation in vacant lana began
to attract widespread attention! Modern nat
| houses find a ready market before theS are
built and in many cases before the foundation IS
| laid That this is fact became more generaiiy
known last week, when the Fleischman realty
Company sold from the plans to the WILKINS ReaIly
Company. for $4,000, twenty-siX hVe story nat
| houses to be built on the block bounded by Wll-
kins-ave and Charlotte and 10th SITS Inc olocN
forms part of the original Bathgate-Beck holdings
| in The Bronx.
The houses are to be ready for occupancy IN
eighteen months. Sixteen Of the houses VIII Dc eac
| on a plot 376x10O feet and ten will each occupy d
! plot 4Ox1OO feet Nathan Weiss was the broker.
| The Fleischman Realty Company also sold nVe
six story law hathouses to Blumenkrohh q
FTeundlich. They are the structures on the north
side 102d-st the south side of lo5d-st 20
feet east of 2d-ave.
At noon on Tuesday at the New-York Real Es-
tate Salesrooms, No Il and 16 Vesey-st, an oppor-
tuny will be offered to investors. spectators and
builders TO buy parcels of the remaining unsold or
| uninproved Bathgate-B Beck tract in The Bronx,
owned by Henry Morgenthau. Some 300 lots are to
! be sold auction by r. E Simon. the auc-
tioneer OF the firm L. J. Phillips & Co. The
| plot of lots adjons the parcel bought last
week by the Wilkins Realty Company. 1t is
bounded by 170th-st.. Boston Road. Stebbins-ave.
and Vyse-ave In the last two weeks $50 men have
! been employed daily laying streets through the
tract cutting down trees and making temporary
sidewalks in order that all the advantages Of the
! property could be properly appreciated by pro-
spective purchasers Large numbers of persons have
an idea that The Bronx is still suburban village.
| These people know little about the section at
149th-st. and 3d-ave where land is valuable in
125th-st., and where many representative business
! firms Of New-York have stores or branch stores;
! or of the Boston Road. Westchester-ave. and the
! Southern OBSERVATION-DISCLOSURES where hundreds of
law hathouses have been erected.
| Lots on Manhattan Island suitable for tenement
| houses have recently sold for more than $4,000
! each. Choice lots suitable for fathouses can yet
be purchased in The Bronx for half and even less
| than half the price that being paid for similar
| lots on Manhattan Island
The attractiveness of the property to be offered
at auction by NJ. Simon is manifold It lies be-
| tween the 2d-ave elevated and subway lines and
! the 3d-ave elevated. The Boston Road and South
ern Boulevard tolleys pass through it. The ground
! is high. and there is rock to hinder Immediate
| Improvement The Bronx and Crotoua parks
| with fHaTF ffro,a +frr-
the former within eight blocks and the latter al
most opposite the property. Prospective. called
'the 5th-ave. of The Bronx" is within a block
That the value of this property its desirable
| fly for building purposes are not unknown is best
shown by the fact that some of the leading build
| ers Of the city, such Sauer. Gross & Herbener
| nave built twenty-four houses within few blocks
! OF the property, and have sold all except one be-
fore completion.
The great Importance of this sale is due to the
fact that the property is desirable the terms
! so extremely attractive that should the sale Lot
rally affected The property viii be sold Id Also
t!tteIy without reservation or protection, it Is
create their values. Mortgages up to 70 per
cent for one two or t Pee can remain ut az per
cages containing a privilege to pay at any time
days interest title policies viii be f9rn as6 ih TREY
VI T1 fIaI TO tne PuTcaasers savings handbook
1Tt E IN oIoeI 10 gy 7 the small investor chance
now reached by the 2d-ave. elevated, are near the
! property.
A number of large transactions were -eported
last week K The HIPS Bay Realty Company pur
George P Co the Buildings Me- PSI shT TO
West 64th-st, 85x15 feet Nos I72i and 728 BroaI
way, JGXSo feet, and No. 232 West 55th-st 20xl005
chased from Mile FaSas No PA R Vest also pgF
2Sxl0 g feet The combined plots comprise about
frontage of S feet in 54hst 40 feet in 55thst Vs ana
90 feet in Broadway. The Autonobile Club Of
distance vest Of this property. Francis B. Rob
in The eile Soi NJ r. hrwan were the other brokers
are: President, Allen L. Mordecaf of the firm %
a l. Mordecai q Son; vice president E. c. Potter
! Heilner, of the firm of Heilner & Wolf ana secTe
fary, John NJ Stoddard. of the Century Realty
The United Cigar Stores Company leased the
I1ho1 BulIaIng at the northeast corner Of Fulton
| twenty-ore years. with three renewals iargs
ogdlng VIII VII, De erected on the site. the main floor
! u rr %hIch WIN De occupied by the lessee
! The trustees OF the Manhattan Eye and Ear Hos
P ala soIQ Inc hospital property. four story and
| ST and Park-ave The plot is IS 9xSO feet The
pIlce was between $4,000 and $4,000 big hotel
S. Osgood Pel & Co. sold the Emma Tborne
R[oPer!y OF more than two hundred acres at Great
-E(7cA 10 tHe country investing Company of this
| city This tract extends from the Great Neck sta
! frontage. The lower end Of the tract will be d.
yded into quarter TO acre plots in about year
Inc 3aance or the tract will be laid out in build
ts p9Is AT once ana sold for residential purposes
| SeEera! dwelling houses will be built on the tract
ms sumner Inc house on the property will be
IdIseu ana converted into high class hotel
/ Tho SchenGk farm OF sixty acres at Great Neck
| vas also SOLD last week to the Cortandt Realty
company or New York for about 81 200 an acre il
| WILL be cut up into building plots next wear.
Inc United States Realty and Improvement Com
Psiiiy bought IN me week a large interest in the
Alliance Realty Company. The Alliance win mere
/ after cooperate more closely with the big realty
! corporation and become more active in the realty
! field; The two corporations jointly the Broad
Alliance is 5000 600 81 10000 of which has been
Issued In addition TO this It has surplus Of about