New-York tribune., 1906-11-04


most uninteresting week in the real estate mar
Eet Just before an important election in many
years one two large transactions were per-
fected but they would have attracted little at
tention in a fairly busy market. Moreover. they
revealed no activity in a section which has not
been affected by the phenomenal buying
building movements OF the last two years The
largest buyers In the market now are investors
and persons who buy 10 occupy the premises
they purchase
Besides the central 5th ave section.
unusually attractive district appears TO be that
part OF the city known the old 2Sd Ward To
many real estate men II is better known as the
Longwood avenue district Of The Bronx. Atten-
uon was directed last week 70 this section by
the purchase OF some parcels at the junction OF
Bryant ave, 10Th ST. and West Farms Road by
investor from the Henry Morgenthau Com
pany. through A l. Gitterman. About a year
ago a number OF leading builders purchased
many lots in the Longwood avenue section and
erected On them modern fye-story apartment
houses. Up 20 that time the district had been
@ high class two-family house section. The
building company which had been improving the
section along these lines moved its centre OF
realty activity q few blocks northeast of Long
wood avenue. as the presence there Of the fat
house builders drove the prices OF lots so far
upward that the lots could not be profitably i'm
proved with email houses That company bought
three hundred lots in a tract bounded by Whit
lock ave. Hunts Point Road and Lafayette ave.
with Garrison ave. and other streets intersectng.
On the Whitlock end of the property the
company is building fourteen two-family houses
On the westerly side OF Whitlock ave another
builder is erecting nine two-family houses. Still
another builder is putting up tWenty-four two
and three family houses. These houses are be-
tween Hunts Point Road and Barretto ST. and
between Tiffany ST and Lafayette
Eight OF the houses have already been sold
in Faile ct a well known building firm has
begun the erection OF twenty-five two family
houses and has sold one from the plans. In
Fane St, near Aldus. a real estate company
has completed twenty two family houses. most
of which have been sold. In Vyse and Long
fellow sts, twenty-eight two family houses
have been built and a number OF them have
been sold
''The Real Estate Record and Guide" says in
fts last issue. IN an article the real estate
situation in part rs faIows
The lease Of the southwest corner of Madison
ave. and Slst St. which was announced over
q week ago. has not received the attention
which IL deserves. II is stated that the lessee
viii erect on the plot a ten story business build
ing end II such Is the case IL win be the nrst
important business building 10 be situated
Madison ave, between 27th and Bath SITS
BUT II will not be the last The Record and
Guide" has frequently pointed out that this par
t!cuRr part Of Madison ave. inevitably
destined to be improved with loft buildings. So
far, no such improvements have taken place
The new buildings erected on Madison ave.
between 27th and s4th SITS. during the last
few years have been. with one exception. apart
ment hotels. and that exception consists OF
Womans athletic club. Moreover, the improve
ments in the side streets adjoining Madison ave.
have also been, Tor the most part apartment
hotels although some few business buildings
have been erected near Fifth II is evil
dent, however, that this whole section is becom-
business II
for hotel purposes The new wholesale district
between l4th and 2Sd sts and from Broad
way TO Sixth ave, is now tolerably well occu-
pied. The overflow fsom this district must find
the needed room north OF 2Sd st, and loft
buildings are already being erected between
Broadway and Sixth But the available
area west Of Broadway is not large. and the
streets on the East Side Will necessarily be
sulfed In this irresistible stream of business ex-
psnsion. Fifth avenue IS. for the most part,
given over 20 the retail trade and prices thereon
are so high that very few wholesale merchants
could afford TO pay the necessary rentals. But
Madison ave is admirably adapted 20 their
purposes. II Is a convenient neighborhood situ-
sted 10 the most important retail shops in
the city and space can be secured this part
OF Madison ave az comparatively reasonabIe
prices Neither Is IL 10 be supposed that the
property owners VIII offer any resistance TO its
Improvement with loft buildings. A large pro-
portion OF the old brown stone buildings have OF
late years been occupied as boarding houses and
there has been no attempt 10 erect modern resi-
North Of Ssth st the property owners are de-
termineo that business shall be kept out; but
che building OF tall business edifces is precisely
the best thing that could happen TO the property
owners on lower Madison avenue.
Daniel z Seybel bought last week, through
Alfred Seton from the American Brass and
Copper Company the lot I2.ez7o feet at the
southwest corner OF Elm and Howard sts and
srom Daniel B. Freedman the adjoining parcels.
Nos. Is. Is and IL Howard ST. and No lzs Elm
~ The sizs Of tbs combined parcels is s7xloO
feet
ie East slst ST. four story brownstone dwell
ins house on lot 2O.5xlO22 feet. The buyer
will alter .hs premises for his own occupancy.
Conway Corouke bought for the FIatiron
Realty Company from the David Stevenson
Brewing Company a parcel 25xloO feet at the
southeast corner OF seth ST. and I'd ave. A E &
A. Marks were the brokers.
I. J. Phillips Co sold for William C Saw
age No, AS Riverside Drive, a i've story ana
basement dwelling house. 25Xss feet, between
1lsth and ilsth sts- 10 Helen S. White. Also
Berry estate. 70 Daniel B. Freedman No. I0s
West s7th 81 a four story dwelling house. 2Ox
Pease & Gilman sold for the estate OF Thomas
z. Stiipan No 81 East Seth ST, a three story
house on a lot 25xl00 feet. 20 O client
A. ~ Gtterman sold for the Henry Morgen-
thau Company TO an Investor the block front
the west side OF Bryant ave. between 10th st.
and Westchester ave. a two story frame build
ing on plot fronting Ioss feet in Bryant ave,
12o4 feet IN westehester ave. 1880 feet in I67th
premises for many years
NJ. II. Berger e. CO. sold 10 a client for John
J. Latteman No 465 to 46s West Broadway be-
tween Prince and Houston SITS II is six story
loft building on plot 75xloo feet
Mrs. Francis Hessberg bought the two
six story apartment houses al the northeast
corner Of 1880 ST. and Sth ave. from a Dir.
Iiebman. A. Finkelstein the broker.
c. Grayson Martin sold TO DR.. J. y. Beekman
No. 2l9 East 10th st. q four story dwelling
house on a lot 22xsS.s feet.
Gusiayus /. Lawrence sold No Sc West SGD
ef q four Story broMnstOne dwelling hnuee on