New-York tribune., 1906-04-01

than il few weeks ago. A fair volume
OF business was transacted last week, but there
were few large deals for this time of the year.
No two persons have yet been found whose opln-
ions to the cause of the marked decrease IN
business are similar. The majority of brokers,
spectators. investors and builders think the
falling of in business will not last long They
Usually look at the market from the most cheer
ful and hopeful point Of view.
One Of the leading real estate brokers. when
asked yesterday for his views the subject,
said: In the present realty season trading in
high class residential and business parcels has
been large. A market has been found for the
Old Broadway Tabernacle property, at Bath St
and Broadway: No. 1925 5th ave. one of the
best dwelling houses ever built in this city 10
sell in the open market the Coal and Iron EX-
change. ar Church and Cortlandt sts.; num-
Der OF other big buildings in the Cortlandt st.
section. the Guernsey Building, No. 160 Broad
way; the Bennett Building and many other large
parcels In view Of these sales the asking prices
for large number Of desirable parcels were
increased. and the new asking prices are not yet
attractive TO prospective buyers. The lu will
nave beneficial effect. Owners will not try
10 get the sum they have been asking for their
property. and their asking price then will at
tract buyers" Though the present market is
dull compared 10 the activity of the market in
the early part Of this season. yet it is much
stronger than the market was several years a go
AZ this time of year
More money was spent last year in construc-
tion work in Manhattan and The Bronx than in
any previous year Building operations this
year. it appears, will be considerably greater
than last year the record year in building.
Plans have been fled since January for lois
buildings 10 be erected either on Manhattan ISL
and or in The Bronx. as against plans for 944
structures filed in the corresponding period of
last year. The total estimated cost Of the build
fngs already projected il this year IS $40 296435.
The total cost OF the buildings for which plans
were fled IN the first three months of last year
was S2S,961,G25. Here is an increase in the cost
Of construction work Of over S11 100000.
The Real Estate Record and Guide" says IN
its last ISSUE regarding the real estate situation,
IN part as follows:
The revival Of interest and the increase in
values which has been taking place in 10Th
81. is the illustration of a process which has
frequently occurred in the history of New York
real estate Values on important avenue or
street, may, during the early years of its real
estate development. be increased to q level not
justified by substantial business reasons and a
reaction may follow; but eventually the growth
of the city Will Justify the most eXtrava-
CANT anticipations. So it has been with Fifth
ave; so il is with 10th st: so IT may well be
with the BoweTy. In 1890 and theTeabouts
prices on 125th ST. were advanced TO very high
Z level the conviction that this street would
rival some of the broader streets downtown as a
shopping and amusement centre: but while many
stores and Dlaces of amusement fourished in the
street. il was found subsequently that they were
neither numerous was anticipated. nor Of
such high grade and sharp reaction in values
succeeded. OF late, however there has been
gradual recovery. brought about chiefly by the
building UP Of the upper East Side, Of Harlem
and Of the lower part OF The Bronx The char
acter OF the business transacted in 10th st
has not been raised to any considerable extent,
but its volume has considerably increased, and
many new enterprises have been started More
over, there Is every reason to anticipate a still
further Improvement Of the same kind. AS
Washington Heights becomes populated the
business men OF 10th have still larger
area upon which depend for trade, while the
same statement is even more true of -he Bronx
It cannot be expected that this trade viii be
concerned with q high quality of goods, because
the population Of this whole neighOorhood is
composed Of comparatively poor people who, when
they want 10 spend more money IMAM Esual VIII
take advantage OF the improving means of COM
muncation 10 travel down to the big stores on
Sixth ave. but there Will be an ever larger num-
her OF prosperous shops who sell cheap goods.
and Of vaudeville stock theatres It so hap
pens that 125th st. is the only broad crosstoUn
thoroughfare between 59th ST. and the Harlem
River which runs at even grade from the East
River to the Hudson River. and it is sure 10 get
whatever general business that part OF the city
affords II viii probably even be more con-
venient for the residents Of the west side of The
Bronx than any centre Of business which may be
built upon the east side Of that borough
conrad L. Peters sold last week No. 26 Beaver
ST. four story building, on a lot % 22X53.9X235x
IS . feet. extending 10 Marketfed st.
The Charles f. Moves Company sold to an
investor for the estate Of Samantha Y. Lapham
tLeNis Il and John }. Lapham executorsl the
six story and basement Office and loft building
-(os 26 and IS Ferry 81, covering pot ABOUT
beXll5 feet. The building is occupied ny tle
United States Leather Company under a term
lease The property has the right OF access
light and air from a 12-foot alley to the easI.
u adjoins the new ten story Schleren Buhqlng
~ Perry and Cliff The property was neld
~ about $4,000. This is the first time II mas
changed hands in thirty years.
William t,rlIil.shank's Sons sold for Charles
Lane 10 n client Nos. so and So Leonard st, a
fve story mercantile building. 50xl00 feet IN
part payment the buyer gives Nos. ~ ana 20
West nth ST a vacant plot 40x95.5 feet which
viii be improved with tenement houses. ABOUT
5000 900 is involved in the deal
Hamilton =. Weeks sold 70 Oswald Garrison
Willard No. % Nesey ST. a five story store ana
lot F,,,ildlng on lot 24.2X16 feet. II adlolns
on the west the plot 10 be improved by me Gar
rison Realty Company for The Evening Post
II will not be included In the improvement
samuel Williams was the broker
y Mathews sold for eX-Mayor Charles A
Schieren the Wilson Building, No. - 70 .s : Z:
son - northeast corner OF Cold 81 Inc sIucL-
ure is SIX stories high. and is on plot Six
r(,glaS Po,fnson Charles s. Brown & Co
IA ~ g. and ca West 4Tth st. two brown
stone dwelling houses 70 John and Mary r
Kfrkpatrick the tenants These houses are - -
Junabia College leaseholds- There are nov ollIs
fo,,r remaining unsod houses out o. slHly-oiie
offered for sale two years ago 10 the tenants by
C,olurabia University through Douglas Robinson
Charles s. Brown s. Co
A large number of leases to Columbia College
lois IN the section bounded by Attn and DIST SITS.
nth and 6th aves. viii expire in October. Some
tenants OF the houses on the lots say the terms
of the proposed new lease are unsatisfactory 10
them The tenants seem 10 have overlooked the
fact that the rentals they have paid for a long
time Tor the premises occupied by them are 9th
ave rentals for jth ave. houses. Values in this
section OF 5tn have risen considerably in the
last five years. The rental figures which
Columbia University asks are based on con-
serzative appraiserent of the property, and the
Of he