New-York tribune., 1905-01-15
TIE WEEK IN REALTY.
r.styaI Fifth-GUe. ActiUsty Remains
a Feature.


....,,-.s Of the real estate market last week
.sles n OF near the central Fifth-ave. section
- -, announcement that Messrs. Flake g. Dowl-
a. - .-rs -etire as vice-presidents and directors
= "a United States Realty and Improvement
c--.-w 70 become the managers Of the City In
-ss-ment Company. recently formed, with capi-
- - ssDO000 AIessrS Flake and Dowling have
= sor mary years leaders IN the market and
- - ,hs most successful operators that have
-, heen connected with the local real estate
- !, hss been said that they VIII resume their
- ,aarss in the market Naturally the inference
-, be drawn from that expression that they
- hasr unidentified with the market for some
-.rs or some years Such an inference would
= s,- rom the truth as vice-prssdents OF the
--,,fes states Realty and Improvement Company.
-. Isrsest realty operating and construction con-
=, N this country. and as managers OF the real
80. business OF the company, they have been
,..vs ard prominent in The market for a long
-. Is individuals. they have also bought or
90 sane large choice parcels n the last few
- Bur ss most OF their principal early sue
.sssful transactions were made by them as vice
-.s,ss-ts and managers. respectively. OF the New
-o-k Realty Cooperation. an operating company,
. I'll truly seem Ike ''old realty days" 10 have
- leading and managing again purely operat-
a. rsnse-r such as the City Investment Company.
re- vii take Up the work OF managing an
,-s-s+iur company during the present strong mar
~. sor choice parcels on Manhattan Island. It
.-rs that a resumption Of such work on their part
.s-a not have been better arranged 1or al inter
sss II the market
m. activity in the Central Fifth-ave. section is
,,uss s5r 10 surprise, for most realty roads have
~ sns now lead there. Il IS & natural activity
a. fHsrefsre benedcisI and pleasing 10 the mar
IL szd Is apparently only in the first stage. With
s.e succeeding month Il is expected 70 become
re-s vigorous The principal cause OF the activity
a tie carrying OUT Of plans Of many high class
rs,su houses to ecqu.re permanent homes for their
rr8-F 70 and
syn sves- OF il Fifth-sve.. north OF Twenty
trdEt
DEALS IN FIFTH-AvE.
rbs r-!ncipsI Fgsth-ave. transaction OF the week
xas re sale q TIE corner parcel OF the Paran Ste
rsrr PLOT 81 the southeast corner Of Forty-fourIh-
& snd Fsfth-ave.. hy the Fifth Avenue and Forty
szrth Street Company. the stock Of which Is held
scusIy by ne Century Realty Company ana the
U.tsd States Realty and Improvement Companies,
= ezEisigh Thorne president Of the North AIneri-
O. Trust Company. HIS plans fer the parcel have
nE yet beea MADE public bit it Is understood that
a poI VII be improved in the near future. There
wa report that the proposed First Night and
Dr. State Bank would build the Tho-ne plot,
bH several persons interested n the bank project
ny ttAt such plan has not been considered Ths
PlTsE Stevens parcel sold IN the week has 'front.'
ass OF feet In The avenue and OF le5 feet IN the
EGeet TIE present purchase price wzs little less
iasH $4,000. or about s12o & square foot.
-ne 9rglna4 Faran Stevens plot hec frontage OF
sIsel Il vas bought several years ago by & syn
essis organized b Richard Ii Montgomery and
ias Present seller A Ftfth-aye. tailor reeendy
SsE 2s e1steTy T part o. = ne ne Pi9S @ PaEcei
sallh Of A15 feet For that parcel he paid about
@aeA- The selling company sliH Owls the south
Gs parcel OF the original Paran Stevens plot a
Srca Win a frontage OF BIO feet II the avenue,
m o Stevens We s dot 27eaag SO sod 'S By PI0f fhe Ffb q
1vsaae and Forty-tourth Street Company Is greater
- tae s5nount TIE company paid for the entire
- SAD that whatever sum II receives from the
..S--.iag lnsold parcel Dal be the profits from
80 interesting and important deals The Cnsold
p&fce e held 81 $50 Oo0
PURCEAsE OF BROOKS LEAsEHoLD.
lhs1e were number of other important transac-
uoas IL OF near the central F1fth-ave section re-
loflsc II The week. One OF them was the purchase
'ahn y Golding for hts own occupancy OF the
SsooH ieaseh0lc northeast corner OF F1fth-ave.
sSa Eorty-hfth-st-. from Robertson Brothers. who
sc1E part OF the premises Mr.. Golding will
s-.-lae MS Fefth-aVe. ofIce from No. 81 Fifth
ss = LAe Du--clng, and VIII occupy one-half Of the
-she ability OF rea! estate brokerage houses n
.-sse to remain fl the avenue. owing 70 the in
saasss n nc thoroIshTare- has been matter Of
49, 49, l12pecta1ce 10 the former With the pur-
s--Ss ss oi l4e Brooks leasehold Mr.. Golding has
's.h-gve s.gve branch OF his business.
tlS-aef transaction OF this type was the leasing
sefy building No, 20 West Thirty-fourth-st, on a
m 80 leeI for 1Wenry-one years The lease
- oe N effect when the leases Oh the property
Ts-e which VIII De next fail Julian Benedict
----e elOhe-- Inc headquarters OF Albert j.
~.HS ~-HS vas for some months tho ground floor
= Se building. The total rental OF The term OF
srTi ITiLln I'D 4 cos lease Is more than s250,0Oo.
- 49, saolner similar deal The lease made by
E sS- sS sDoWney estate 10 Albert SiEnonson, OF
49, sL.h-aFe, for twelty-one years. at $1,000
a. -. wiz the privilege OF renewal for twenty
- sesls more. Mr. SlmOnson viii erect on the
lass-1.As 10y marble front building. for his own
fs.-e-.cy, = cost $4,000.
tssersn and c. on IseIin. sold IN the week
lie "a z Z. lse y NisSnsn and Louis B Preston
tie tA1lcketo booker Athletic Club Building. at
sss -t-sast corner Of FOrty-hfth-st and Madison
Cs.r--Ss - o13 ers are John D CTirnulins and the
- saese-Ly company. They paid S5o00-o cash.
- sgrg fronts = feet beth IN the avenue and
ost os-tFs sGiioing On the site wac put up at a cost
wa,-s ~ ~ 1ea5, for the Manhattan Athletic Club.
ae9U.r.s s1ee rec - lssS and the property was then
FrSessSslDy ~ ne Aessrs. Iselin under foreclosure
VA - The KnlckerbscI[er Athletic Clap which
bsr ba1loctea by the Piqua Association. J. Her
esto1 - si',e y as the hacker Of the Piqua Asso-
Hs hs4sa ha Organization ceased 10 be the lessee Of
aer- or..-ls ard The Knlckerbocker Athletic Club
Assoes5o- sA-steLlce. BY the failure OF the PlQua
ogre-sa aLon the Messrs Iselin again became the
eone I, ne property because they think the land
tsrcsi .a9Te valuable than what thew paid for the
a L Ne We plot contains 1900 square feet
Century sai q Son also resold last week 70 the
clPsn5sS sallg Company for the syndicate recently
sststs a. y Y tnem the property known the Lees
= lots ir - AliigoTnery estate comprising about
/ Ia r1rsetneTbed Lane and MacoTnb's Dam Road
Eur 'glssssy was purchased BY a syndicate about
&SsS Aortgaee Company. HeIIre- X Voc Klein
4 enugI =, Potter d Bro, and william II Cheese
sslEsg has control Of eight bioeks of IaSd IN the
Fsshirs--so hlciztty of the essterly approach Of
e n sons5s 5sslege with frontage OF about $500
scforp pI.aspa nc deal Of the week IN the West side
ssithelgr b % Eltty-ninth-st. was the sale OF the
t5s,56S riverside Drive The property IS assessed
i thEkSArTtnRc