New-York tribune., 1907-11-24

mainly IN the newer apartment house districts Of
the city Soon after the opening Of the subway
shout three years ago. hundreds Of persons who
had never before been identified with a building
project joined the ranks Of builders A large num-
her Of such persons operated with small capital
and the EtrUctUres they erected were covered with
many mortgages. This activity resulted in more
building in one year than ever before in the his
tory OF the city After the structures were ready
Cor occupancy Il was indeed hard task TO find
tenants for them and as tenantess houses are
unattrsctive 10 investors there was IcF d 'oHs
time practically no market for the houses. fOI
scme months = looked il II would take seEeial
years before the demand for new houses wou4a
equal the supply. IN that time many old ana ne"
builders alike sustained losses through theF
inability 70 put quickly their houses on paying
basis and there we're Indications Lat II CAete
was not a marked change for the better in the
building situation the building loan operators VINO
held the mortgages on the properties would sen
the parcels al foreclosure. Some properties went
to foreclosure and then came the hopeo LOT 1tii-
2Toveusnt n building conditions aIIectlhg ti'e
-newer districts. The Improvement was chle.4y cue
n the spreading out ot the population or the cty
many persons who had for years lived in the lower
sections moving 10 the upper newer dlstr1cts
IN little while two-thirds OF the apartments o.
TIE houses we're occupied and investors TOOK over
sone Of the houses. with better renuhg cono'-
tons many owners were able to readjust the
mortgages On their parcels 50 that they were
Strengthened financially. About year ago a oe-
crease IN the volume OF money available for real
estate projects noticeable, and since tneh an
extensive readtugtInent OF realty affairs has taken
Place. When the financial depression came the
real estate market I'm splendid shape ihe
strength OF the market has attracted Woe atteh-
uon' and thousands Of parsons who have never
esnea parcel Of realty are likely soon 10 be
ieeaa II IS thought. among the prospective buyers
Two big and spirited auction sales were held
ast week IN the Real Estate Exchange Sales
fosns.
For the elghty-nine Bronx lots owned by David
. Cocks, Joseph P. Day quickly realized on
tuesday s455Z. That sale was held by order Of Mrs
agnes K Murphy The prices for ten lots in Web
.r avenue, Just south Of issd street, ranged from
@aS 70 $50 each; for eleven lots IN Decatur ave
-s 1ust north Of Kingsbridge Road, from s. 80 to
sso each; for thirty-four lots forming the block
s--aesd BY Mount Vernon avenue. HeTkimer
s'ees lsd and zS5th streets, from 300 20 s2.iO0
ssesi Ter four lots in Decatur avenue, just south
= Aco street. and with depth Of about il5 feet
-, from $500 20 1900 each and twenty-nine
- "a the block bounded by Napier avenue. Herki-
t0.
5000 prices were also obtained for six OF the ten
seiees offered for sale on Wednesday. Bryan l..
eehely had difficulty IN finding buyers for
-, parcels He sold no. ls9 East @th street, a
g., stery nathouses with stores on a plot Z7xloo1
- % Walter Heilbrun for s24.259; No. il7s Second
saue four story hathouse. with stores, on a
~ @xis7 feet. 70 A echne.der. for sz2.eo0; No 545
.asoa street. four story tenement house, with
s"s' On lot 3osxo-5z irregular, 70 c. II. Benner.
- - ier s515o. and no. so West I'D street, five
~ hathouse plot 5s.zzIoo.n feet. to ". D..
-srinzn. for $4,000.
l.ss Real Estate Record and GUIDE says In its
- ~ lfsus. IA an Article about the renting cendi-
80 ~ On Washington Heightx. IA part, follows:
a. great desl has been said and written abou.
'ssfbult condition OF certain parts of the city.