New-York tribune., 1906-07-01

,-tse for cheap lots IS no longer s0ou. Inc a0S-
49,, sale Of Whtestone lots held OF Ihuisuay At
N ,nst, lots Of a tract of SsS lots had been sold
e = soes that must have made the scores OF people
= ho,qbt lots twenty thirty miles from the
! rs. Hail for 500 and upward imagine the market
9 - lots had almost vanished some OF Ihe Ninee-
9 - - lots which are not part OF a wild, barren
-to ~ land but form a tract within easy reach
q manhattan Island and have such improvements
e eater and sewer mains, etc, were sold Tor soOO
socb. But The average price was $500. Some real
,ste men attributed the failure of the Whitestone
o.,tof 10 the reports TO the effect that 1t would
80 many years TO finish the East River tunnels
=, - ne pennsylvania Railroad at the present pace.
= rogsra 10 these reports Samuel Rea, vice
-.issnt Of the Pennsylvania Railroad, who is in
h.voe of the improvements and tunnel work OF
2 - coronanv in this city, denied on Thursday the
,-,ors that the tunnel builders had met insur-
I. ,,tahle obstacles in boring four tubes under
= - East River What he had 70 say about the
: .,-+e was printed in The Tribune on Friday.
3 -. never expected 10 complete this great work.
h,cb is TO cost in round figures, about $SooO0cOO
= rsfore the fall Of lsOS" said Mr. Rea, "and from
: sbs present rate of progress which is about what
,re expected I feel sure that we shall be running
trains under the North River, the city of New
~york and the East River to Long Island by the
date we had planned OF course in any great
7oy9 especially submarine tunnelling, difficulties
will arise We have had TO face problems and big
,nes too but we have faced them and are solving
chem The real estate interests on Long Island
have been impatient at what they thought was de-
lay in the East River work, but can assure them
that We have been doing as well as could reason
ably have been expected. We making tests of
the freezing process of tunnel construction. but
that does not necessarily signify that are going
20 use that process We may it if it is success
ful and may not We shall make tests OF other
methods OF construction and Of any new discov-
cries that may tend TO aid US naturally We
would not boldly adopt some untried scheme for
so expensive a work
II should be forgotten in comparing the
present volume Of lot transactions with the lot
sales in any week several months ago, that many
Of the big tracts which cut up into lots have
been sold to little buyers. Thus there are less big
home site tracts for sale. and naturally there
should be a marked decrease in the number OF
such sales. Moreover, at this season of the year
there is usually lull in the real estate market
The hot weather causes the majority Of brokers to
forget business and seek cool rural places. Hun
dreds OF real estate brokers are now out Of town
There were two large sales last week of tracts of
land which are to be subdivided- One of them was
the sale by the Freehold Real Estate Company and
Charles Crosby 10 the Wheatley Hills Land Com
pany. Of the AIbemarle stock farm. and the NJ. c.
Meagher tract Of goo acres in the Rosyn section of
Nassau County Long Island. The properties have
q frontage of 500 feet the Long Island Rail
road and adjoin the holdings OF W. K. Wander
bilt IT., Clarence AIackay and John S. Phipps.
In September the entire property viii be plotted
in lots 40Xl6J feet each and improved with high
class dwelling houses. Charles A. Fagan. Leopold
Vilsack and n. ". Byrne members of the
Wheatley Hills company.
The other was the sale by Maclay & Davies and
Frank z. Smith for the Agricultural Fire Insur-
Company Of Watertown. n. Y Of over go
acres in East Chester, Westchester County. The
tract includes Pauding Manor. Allerton Park Fair
view Park and Waverly Heights. It Hes east of
White Plains Road. a syndicate formed by James
E Ratchford Of Syracuse. is the buyer
Some important transactions affecting Manhattan
Island real estate were reported last week. James
McCutcheon &, Co. Of 12o II West 23d St, estab-
lshed over half century ago, leased from Henry
Corn the store and basement Of the new sixteen
story building TO be erected at Nos 341 343. 345 and
3i7 9Th ave, g feet front by 100 feet Deep be-
tween 33d and 34th SITS; a six story building to be
erected for their sole occupancy at Nos ?, and
East 34th 81 feet front by 100 feet. adjoining in
the rear the 18th ave. property. The lease is for
long period Of years. and was made by Albert B.
Ashforth. who also the broker in the lease OF
Nos ?, and East 34th st. from William Waldorf
John Hoge, Of Zanesvire. Ohio added last week
70 his holdings in the central 5th ave- district
he bought through George r. Read q Co, No. 3
East 4lst ST. a fiye story brownstone front busi-
Miae 3Iq5Gg @ On I9t sSS 1Ir ieeI' IF2 }cb a9Ip i If
forms an L shaped plot with the premises Nos
ing S3Ilj6xsS9 feet also owned by Mr.. Hoge. The
total square foot area Of the combined parcels is
Between a plot forming the northeast corner Of
slst St and 9Th ave. ard No. East 4lst St Is
FOR building purposes Owing 10 this, the light and
are permanently protected. In realty circles No.
: East 4lst ST Is known as a key parcel, There
actions IN the last two months in the section -,
re1ace he "a Z iOSs I,e p M M NS gS~ 5tb = ave- be-
tween S5th and 36th SITS, with five story modern
front This firm viii also erect a twelve story
building On the premises Nos S24 and 326 9TH ave
AEff laaG cd m lTd
ana Siegfried Blumenkrohn for twenty years the
al No q ~ y Wssst Sad 81 o Mot 63 Is9Ss feet
together with No. 40 West 34th St, a five story
building, on lot 25xS8.9 feet. The lessees intend
70 have the premises large retail store for the
sac Of woTHes g wearing "a apparel ~, estate -
S,5 SIh Long No J6l 1th ave. nortaeast corner %. or
properf 5V e ,ss a ms i;e - Ire re 1 tbe heirs of
ne ne Patrick Brady estate. who own adjoiping par
corner plot 5lts 5s8Sso d' feet TINS
The Charles F. Noyes Company sold for Mary
a Walsh and Anna r. COggey TO John Y. Black
40 IS Frankfort St. five story building, covering
he 10y 5 ~ & tee, e ~ tnS R9FfnaSG H P eK
ioFt and Rose sts. and the Brooklyn Bridge. COM
pan By the new eleven story Black Building at
MILAN SNiisn and Frankfort sts The , same firm ,t Of
S.Fankel INC five story basement and attic building
property adjoins the northeast corner OF Beeknan
ana Pearl sts. and abuts four Beekman St build
hgs, There has been considerable buying IN this
socuon recently on account oi the pToposeu tuiei
s2q subway corrections at thls point. n 7,o,,,,a
ana CSar q T nelTI lj1 e,ecnfors 6f the estate
of Henrietta ]. Douglas No so 9Th ave- a three
story store 172xlO0 feet. to David and Harry App-
mann.
Archibald D. Russell leased for a term OF years
ne Old Guard Armory, at the northeast corner OF
ssth 81. and Broadway, together with small ad-
;;Slnng building. The two structures occupy plot
s96XlC81 feet The lessee IS a restaurant pro
pIetor- he viii open a restaurant it was said
&C P. H Gilbert. the architect hled plans in the
S9loings Department for six and one half story
tllgate dwelling house, 70 be erected the
premises, No. West 5lst street for NJ +. Null
ss.ne- The building viii be 2 combination OF the