New-York tribune., 1905-02-05
THE WEEK IN REALTY.
VoIame of Business Transacted
Greater than for Many Months.

80 and more widespread than for the correspond
-r-sek Of last year There has seldom been bet
- money market, and the majority of operators,
t-s5ers and investors are taking advantage Of the
- conditions. II is the opinion of many lead
= - tse market that the present unusually wide
.-,ea5 activity VIII not only continue until the
-,-,-,a- season but Will increase in vsgor Many
-sslrv e1per.s said months ago that 1865 would
\. marked BY widespread realty activity especially
A. tie building line. and the realty plans already
-e-faeted aB6 made public indicate that those
7Dr1obeces VII be fulfilled.
Tls The present market IS much more favora Bile
"a realty progress than st any time in some years
bs4te- progress would be assured If certain obsta
oes in the path OF advancement could be removed.
One Of the greatest obstacles has been for years
,oor tralc facilities. The subway has helped 10
Improve the situation 70 large extent but the
zrerage running time Of express trains in the
sutTay or the elevated roads between the CITY
Hall and The Bronx IS not yet pleasing 10 the
thousands Of builders and operators who are active
IL rhat borough or in the upper sections Of Man
haitian Island. Nor IS the number Of such trains
II the rush hours Of the morning and evening large
enough 10 attract many persons living in the
tenement house sections Of lower Manhattan Island
70 move 10 The Bronx.
BRONN PURCHASING MOVEMENT
TIE opening Of the subway and the cheapnAss Of
los L The Bronx were two Of the principal
causes which brought about the phenomenal pur-
chasing movement in The Bronx last fall As a re-
suit O that movement. many SPECTATORS made
large SUNS Of money from their purchases
GIs Eea- builders expect 10 make profitable
deals in The Bronx but unless the demand
fur living rooms in the fathouses to be built by
tsn IS excellent. investors viii not want their
houses There have been signs for some months
thai Long Island builders were finding a quick
market -7r their wares, and that building on Long
Island was likely 10 be more profitable than the
Wo1 II The Bronx il the future, but the ac-
uoH Of The Long Island Railroad in increasing its
Mileage rates for passengers has undoubtedly af-
fsc1ss Long Island real estate values. The Long
k<nd builder. however. has proved himself able
. stand Up firmly under many severe trials and he
nay SIN fnd way 10 preserve the attractiveness
q his II the Long Island builder IS able to
Temove some Of the unfavorable conditions sur
rounding him. The Bronx builders may not have as
pleasing q market for their buildings next fall as
they expect
Il Is not 50 many years ago that many Bronx and
Manhattan builders seemed 10 be working with the
Rea that the public must take what was built for
ihem, and a result many poorly built tenement
hBses were erected. Those houses were mere
sa5iag shells. and they did prove profitable
& fae buildings Of the honest builder. The money
Ig6ers we're wary o. advancing money on them
and without the a.d Of tire money lender the ma
aaty Of builders would have work
WIDESPREAD BUILDING ACTIVITY.
The most pleasing feature Of the present market
Is the unusual activity ia nearly every section Of
ths CITY Tn the last week the Charles F. Noyes
campany. Dennis & Preston and Z. P. Holdridge
perfected s250o00o deal It involved the long
lease and probable sale Of the J. l. Mott Iron
Works property, No. 81 to 30 Beekman-st.. and the
recent sale Of the northwest corner Of 5th-ave-
ead I7th-zt. TO the Eugene A Hoffman estate,
Sot 52sa1l0 feet. together with the immediate i'm
Eevemelt OF the 5th-aTe- plot 10y the purchases for
II j. I. Mott Iron Works.
ne Charles F coyes Company negotiated q $780,
Hase Of The s.. George Building. No 81 to 80
Bssrnan-st.. northwest corner Of Clf-st for The
Csnpany- The J Z. Linde Paper Company also
STAINED through me same brokers an 9puSn; ;, ~
Flchase the property At about S9tS1' - ne ouIia @
ags cover q plot Of l5o square feet Iney con con
ri = given ia 1906 Wasserman & Jacobus, coun-
= for the J Z Liude Paper Company, represented
S5Ees C5mpany The }. !. Mott IRON Works,
IN 1g03 the Charles F: Aoyes COMPANY SOD SOTO 20
pIot Of 601o square feet adjoining the buildings
51st leased The Two deals have disposed Of all the
N0tt c0l1panv's holdings in Beekman-st.
z p Holdridge, Dennis q Preston and the
caaries r Noyes. Company negotiated the recent I
ssle Of he northwest corner Of shave and l?th-
g for Charles a Peabody 10 robert Z. LOVING ,
NJ Downg intended = that 1Ine 70 secure , ,Ti ne
adjoining plot. and erect a buldlHg iof 5 Ihe AooI @
nsvlng fallen through tl.s same pIoheIs % @ @ 75a
Gr DOwIing this property togeLtlef win 40. -
gouer yv,.odi1l~v 10 the Eugene A. Hoffman estate
Tie plot Is 53eX1l0 feet. and contains e'''o
Tse same brokers jointly negotiated a deal for for
sto-r 1000 bI1iIding for the J. l. Mott Iron
Works Tor a long term Of years on the ste IhlS
TIE Eugene A IiofTman estate owns property sur
Founding the northwest corner OF IIt-st ana % o. "a IA
sqase feet. -'S '0--
CENTRAL 5rH-AvE. DEALS.
One OF the principal deals last week in the cen
Ia 5th-ave section made by NJ q L. hess
They leased for the Gorham Manufacturing com
pany the new eight story and basement hreprooI
buil5lug % be erected az No 3s4 5th-aVe. zAS4zo
feet OF land owned by Mrs. Catherine L. Ker-
hochan 70 a well known eth-ave merchant ior a
term Of twenty-one years, 81 an aggregate rental
fis,y- ms pullo1i-s N-lag9 ~ ~, The fsorhsn1
s-s new building 70 be occupIe0 " N-io
manufacturing Company .. - +t
7l9taer important ceaI n liiS - Ms H. p
Bets ~ ~ FSl5cIid Ending No So to 5ss 5tt-ve.
81 So ~ l1,.1 ,s,1e e- q Mot q gxl91 feet ad-
isnng me 0litvrest corner Of 4eIh-st and 5th-aVe
oas cf Tie I15st Interesting deals in the old Broad
va TabernacIe block bounded by 54th ana 7 SSIl
s@g 5th and 9Th aves- was the lsasils " - %
Best 2zth-st. 59x9ss feet. for Francis H. Leggett
well known Broadway house. So.
Al announcement Was made lasI week llleL a: n
aenune & Co. would make extensive ateIaL.ot9 ateI5,ea
IL oud-ngs, On plot csN-z 1eeL & a,i1e @ C,i-+
ssssly them IS branch store 1oT tne-F O+4S'i~ i~@1
REALTY PAPERS OPINION.
The Real Estate Record and Guide" says in ITS
Asi issue regarding the real estate situation IN
Bart As follows:
estate activity reported. The total number OF
eAsac~oLS Published Is not lar from ~ ~ -- -.
l3flz1 and % n The Bronx. The aggregate TO- ls ls
tEo bgroughs IS q little less Tran 80, "a4cn y
-ger tEan The aggregate OF tHe lsfgest "eoA S
sL TAI spring. The MtdWlnter lHll Is over; t1-a
-e spring trading Is well under way II y NJ ~
sFthing Ike its present volume until the halouie %
sthe il WI keep real estate brokers aiio opSl ga
sssorI buster than they have ever Deeh DeAoI 3
AoreoVeF. tie spring business forestaoowed Dy Ln
tslasact0ng Of the week is usually good IA cLiat
s-sF During the fail q very large pfoloIlio - -
- sales furnished by the speclia lols At. ~.
tonx lots. Now. The Bronx furnishes onIy 49,. t
-r OF the total. the other 30 per cent D,.s
rsA distributed throughout the whole OF Mahha'-