New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-09-30


been placed on record. The estimated cost Oh
the proiect. is 500 721 295 In the first ten
months of last year plans for 1,765 Bronx pulId-
ings. TO cost $50 500 40. were filed. SO FAR THIS
year the Manhattan and Bronx builders haVe
perfected construction work which will result III
the erection OF Bill houses of various types anu
which will cost 1922. so, $50. The total COST Oh
building operations for Manhattan anu i"e
Bronx planned in the first ten months VI 'a'
year was $l29 $50, 100.
Last year was a record year in building in
Manhattan and The Bronx. This year many
houses being erected in The Bronx 90 not rep
resent so large an investment as most OF inc
structures built in that borough a year ago
The majority Of Bronx builders last year were
busy putting up hathouses. This year. an UNI
usually large number of the builders are identi-
fed only with frame dwelling house operations
Dwelling houses cost much less TO buiid IMAM
Hathouses and that fact partly explains the de-
crease in the cost Of construction work in The
Bronx from $50 $50 100 for the first ten months
of last year 10 SD 21 go for the first ten months
Of this wear Another reason for the decrease Is
the higher rates for money this year than last
year and the inability of many builders 10 get
their fathouses. which they built some months
ago quickly occupied. If the fathouses were
sn well rented soon after they were ready for
occupancy there would be an excellent market
for the property and the majority Of Bronx
builders would undoubtedly be perfecting other
fathouse projects. At present the supply OF
Bronx fiathouses as well as that in the upper
sections Of Manhattan Island is much greater
than the demand. Until there is positive eVl-
dence that the demand nearly equals the supply
the money lenders Will not be ready to help
such building operations they were last year
There was a marked improvement in the sales
market last week. Many fine dwelling houses
In the choice West Side section north OF oSth
ST. changed hands. 153 lots of the Morris PARK
tract were sold at auction for S2oo,ooo' several
big leases Of improved property were made ana
a number Of investment purchases of store ana
loft structures fronting in the streets between
18th and Bath SITS. west OF 9th ave, were re-
ported Moreover. several large building loans
We're recorded.
The Real Estate Record and Guide" says IN
its last issue in an article about the real estate
situation in part follows:
Real estate transactions for the week now
closing have the color and tone of health ana
good spirits, and have furnished number OF
evidences that large capitalists are returning
from their vacations and taking up the strings
OF business again In the first half OF the week
q renaarJIa bic interest was being shown in dwell
tng house properties OF the West Side, ana lal-
terly this were added important transactions
in the business district, and also in the money
market. Private house buying on the west SIDE
Of Central Park has become q decided feature
after five years of inactivity. Several builders
are carving forward large operations, Dul more
than this is a new demand for old dwellings, aS
well. Business prosperity has evidently turned
the thoughts OF many heads OF families TO the
subject of private houses and for several weeks
more dwellings have been sold on the West size
than the East During the current week also
particularly large loans were MADE, one LOT
the new Hendrix Hudson apartment house on
Riverside Drive. and the other Tor the new
Brunswick Office building in Madison Square.
affording some evidence Of a lOosening OF the
money market and also Of the truth OF the an
nouncement recently made that at least some
life insurance companies proposed hereafter 10
loan funds on real estate direct Attention was
again attracted 10y important sales and leases in
the district between 14th and 23d SITS, Broadway
and bta ave, where a reirlarKaple IepulluIIi iSS
movement is in its final stage Soon there VIII
be no dwelling houses remaining in that once
fashionable quarter
one Of the principal transactions OF the week
was the leasing Of the Hotel Bartholdi, at the
southeast corner Of 23d st. and Broadway, by
Harry LeYeY from the Pike estate NJ. * l..
Hess We're the brokers. The hotel has a frontage
OF 1926 feet in Broadway and Of 92. IL feet in
23d St. facing Madison Square. The lease is
Tor term of twenty-seven years at an aggre-
gate rental of 81 100000
John L. Wall of Stamford Conn., sold plot
OF about fourteen lots comprising the block
front in Riverside Drive, between l5lst and 152d
SIS. The property has a frontage Of 2OS.3 feet in
the drive. OF l45 feet in lalst and BOB feet in
l52d St The length Of the east line is 1870
Leopold stiassny sold Nos Al ano 40 West
I3Ith st. two hve-story fathouses Oh plot 1Ox
NJ. d l.. Hess sold fer t,s = atty Holding
Company No. II Wes- Goth ST. SR92 Feet The
purchaser Is preparing plans or tie erection or
a ten-story store and loft bJl.:ins ca the site,
Mrs. Valentine G. Hall scId tract Of about
thrty-seVen acres at ClasOn Point. west Of the
Cason Point Military Academy Of tie Sacred
Heart
William Rockefeller bought No 9 East 54th
st. fve-story dwelling house a lot 2Jyl0
feet 200 feet east Of 9th ave, from the Curtis
one Of the most successful auction sales of
Bronx lots ever held took place Thursday at
The Real Estate Exchange Rooms. Nos. IA and
, 10 Ees9y ST The offering was 800 lots Of the
MOTIFS Park tract, owned by the Fidelity DeVel
opncnt Company. e J. Roberts and ]. Barry
Iounsberry. OF the McVickar-G aillard Realty
company were the auCuoneers. The sum re-
allied Was $4,000 for 1913 lots. After the sale
many persons either added 10 their holdings in
NC tract or became owners OF one more lots
or tlis famous property which were to have been
included in the auction sale, but were not Of
fered because OF the lateness OF the hour OW-
ing 10 the number OF lots sold after the auction
sale il is thought that all the lots still remaining
unsold viii change hands at private sale in the
near future. Prices paid for lots in Bronxdale
ave. between Ehinelander and Muliner aves,
ranged from 81 800 TO 50 l25 and between Mu-
liner and Matthews AYES. from 81 500 to 50 325,
the northeast corner OF Bronxdale and Muliner
ayes, plot 54xl76 feet. bringing S3715.
On Nell ave. from Fowler to Matthews ave
prices ran from 81 O25 TO 81 975 a lot and i'm
Matthews ave. between Bronxdale and NELL
aves.. from $1,000 TO 81 800 Prices for lots In
MUliner ave. between Bronxdale and Neill ayes
ranged from Sl.3oO to Sl.SI5 and in Nell ave-
between Muliner and Matthews ayes. from 81 400
10 5000. The lowest price paid for a lot was
$500 and the highest price $3.50
More persons were present at the sale than at
env .ip,ilsr sale held in years according 10
many well known real estate men. About two
hundred women occupied seats near the auc-
sioreers stand, and they were among the largest
buyers Most OF the purchasers intend 20 i'm
prove their lots Immediately. The curbing and
era ding work on the streets, the laying OF sew
ers. water and gas mains. etc, are being done
hy the developers OF the tract at their expense.
The Security Trust and Life Insurance Com
pany transferred title in the week to the ST