New-York tribune., 1907-04-21
TRADING NOT CENTRALIZED
Long Acre Square Deal InrOng One Million Dollars FcqteS
of Mortgage Loans Mach Geatsr than of

fair volume OF business transacted last
week In the real estate market. The trading was
widely scattered. too. and from brokers' point OF
view that will probably be considered one of the
most pleasing features OF the transactions OF the
week, for activity. throughout the city generally
indicates that prospective buyers just likely
TO purchase parcels in the uptown as in the down
town districts. Whenever a great realty movement
is under way and trading is centralized. certain
districts contiguous the leading OF activity
usually forgotten.
In the present market there are only two or three
sections OF Manhattan Island where buyers are
much more prominent than elsewhere. but the
Character Of the business done in those sections
has neither attracted the attention that It should
nor overshadowed realty operations in other parts
OF the city. The market is so accustomed TO wit
Messing a series of spectacular deals in one week
that transaction representing an investment OF
one million dollars but wanting In novel features,
no longer avouses unusual interest
In the last week there fair number OF big
deals reported. One of them the sale of the
southwest corner of 10Th street and Broadway a
plot OF l2.S64 square feet by the McVckar- -GalaTd
Realty Company for the Ross estate 10 syndi-
cate in which are Walter }. Solomon and Jacob
Wertheim. That 100000 sale. and the plot
which changed hands Is in the Long Acre section.
one OF the most attractive speculative and invest
districts Manhattan Island Yet many
persons active in real estate when asked last week
what they thought of realty conditions said the
y
ing was unnterestlug. There is other expana-
tion for such views except that the holders OF
item cannot realty activity anywhere unless
there are large number Of remarkably large
transactions reported and big volume OF little
sales. In the opinion OF these same people the
market has been dull ever since January ! Yet
since the first OF the year there has been realty
movement large scale in the section between
lith and sd streets and Broadway and 9th avenue,
a good market for parcels in the central and upper
sections Of Fifth avenue many sales of down
town plots and large number OF buyers of parcels
the East and West side north of seth street and
south OF l25th street. Then the vast holdings Of
the Doherty estate offered auction at the
Real Estate Exchange Saesrooms in Vesey street
by Joseph p Day. and nearly every one OF that
list Of parcels was sold at record price. The
total sum realized that sale was Sl.9lS600, or
Just $33S co more than number of well known
appraisers estimated the value OF the property to
be. II that sale demonstrated that the real estate
market is dull that it is a difficult task to find
buyers for centrally located property Manhat-
tan Island. and that realty speculation has been
overdOne Manhattan Island. the persons who
think know nothing about realty trading or
realty conditions
From January 1 to date the volume of business
transacted In the real estate market has reflected
the stability Of realty conditions. Occasionally
there has been a lull in trading. but after long
strain of phenomenal activity these periods OF
quietness should be welcomed and not deprecated
The total sum OF money lent on DcnO ana uloEt- !
gage Manhattan and Bronx parcels from
January l TO date Is S15O14S.62O against Sis \
4O9.57 for the corresponding period OF last year
The estimated cost of Manhattan and BTo3x
?S5. as against Sl4s72lO for the similar period
The Real Estate Record and Guide says In
its last issue regarding the volume OF business
transacted last week In part as follows: ,
ment both in the character and tone of trading.
One of the features Of the market , was =, ten
dency on the part OF investors toward ard tne pHr- /
iariy noticeable in The bronx Among the larger :
transactions the sale Of the Ross holdings on
Times Square was the most important ana ac-
proved by the erection of another new theatre or
hotel. Other transactions were for two broadway
the Harlem. The total number OF private sales
Ts Tsp9T'eS g. WAS s d Of ThSh & a. mere below h
One of the leading transactions reported last
estate TS 10 r GoidstSn ~ ~ of Nos S and sS Duane
street, four story buildings on a LOT S5x6 lx5Qx
III years. The plot has about 1000 square feet.
aTes Lane H6 S s9d 10 5og 20 'ss sb end
2s1 and 26s West 21st three story build
Avenue and 100 feet in 0ssg Ss street the estate
owned the property for seventy-twO years. The
z. De Forest simmons and Moore 6 wyekor
sold for Mrs; C. C. Harrison 20 George T. Moody
dwelling house. on a lot iS.4x5o feet
on a plot s7sxsSu feet. In part payment the
northeast corner of 10th street and Cypress ave-
Horace 8 Ely & co. sold for the White estate
20 20; 4d Water street nye story egildns 2oxsS
Gently by the Robert estate.
Charles 3, Gunb bought from Herman Singer
ment house. with store. on plot ASKS feet adj
}9lnphF }hF Ins mortnwsst corner OF sth street; also
street, hys story te5eme1t house on lot 2Sxieos
tenement house Sn a Iot s5x5 rst e s'0FS
A4rris = Vaughan sold for Potter Brother