New-York tribune., 1907-12-27
MANY BROOKLYN SALES.
SMALL BUYERS 1CIITE.
Market Found for Manhattan Parcel
Oscned by Ronalds Estate.

In the last two weeks there has been large
increase in the number of sales Of improved
Brooklyn property. This increase has not yet been
reflected in the realty records of the borough and
for that reason this interesting fact has almost
escaped the attention of the public. Many brokers
who make speciality of Brooklyn property fire.
quently act like ashamed of being identified
with the Brooklyn real estate market. at present
one of the most stable speculative and investment
markets the world. It is not due TO their efforts
that 1t is such market. When they make sales
they are slow to give publicity to the Transactions
and when opportunities are presented TO enhance
values in Brooklyn and to help improve conditions
affecting the realty market there, they appear to
be trying dodge instead of grasp these oppor-
tunites Many recent sales of improved Brook-
Iyn property have been made by some OF these
Ibrokers and It is therefore no wonder it has
taken a much longer time than 1t should to learn
that large numbers of one and two family houses
in various sections OF the borough have changed
ownership in the last two weeks.
If there is a allurng and safer investment
field for the little realty buyer than Brooklyn real
estate measurements need thorough readjust-
ment, because they point the way to the small real
estate purchaser to Brooklyn. About fifteen years
ago persons with capital of few thousand dol
lars could pick up good Manhattan investment
parcels fine Bronx speculative properties at the
Real Estate Exchange Salesrooms Manhattan
Island In that time values on Manhattan Island and
in The Bronx have increased 80 rapidly that few
opportunities to by Al improved Manhattan and
Bronx parcels are now within the reacn or the vast
army of small buyers looking for Manhattan
and Bronx bargains 1t is true that certain
tions The Bronx good speculative lots yet to
be had about $500 each, but the distance between
those lots and the City Hall, Manhattan. is three
times greater than that between many
nourishng districts of Brooklyn, where fine lots
are to be had at 5000 each, and City Hail. Man.
haitian. In the Manhattan market the value of
property is based the cost Of the building
the land, the earning power of the structure and
the probable future of the section OF which the
land forms a part. The measurements of
value are used In Brooklyn and in every place
where property is appraised correctly.
Wideawake builders know that the supply OF
Manhattan and Bronx tenement houses is equal TO
the demand, or, rather, meet the present needs i'll
that respect
They also know that what The Bronx wants is
more one and two family houses. and that such
improvements be made much cheaply
and in attractive residential sections in Brook
Iyn. AT the present rate OF building apartment
and fat houses Manhattan Island 1t will not be
long before the great West Side is practically
unbroken series of big apartment houses and fiat
houses bordered the westerly side with large
dwelling houses fronting in Riverside Drive. There
are few dwelling houses Manhattan Island
which a speculator would consider good invest
ment. If he buys such house he does SO with
the prospect of finding quick market for it, and
at a sum considerably more than he paid for it.
In The Bronx dwelling houses are excellent specu-
latve properties because the value OF the land is
rising rapidly that it often builders there
to tear down rows of new one-famiy houses or to
transform one or two family houses into tenement
houses. Brooklyn dwelling houses consid-
cred, and are for many reasons, splendid invest
ments to every person connected with realty trad
ing Some OF these The rise III land
values offset the depreciation of the houses, the
decrease in the area of available land in Manhat-
tan and The Bronx for building dwelling houses
that be marketed for from 5000 to $4,000 tends
to improve the Brooklyn market for such houses
and the realty opportunities in Brooklyn for the
small buyer considerably than in any
other section of the city.
One Of the principal Manhattan deals reported
yesterday was the sale by the Charles f. Noyes
Company for Phillips &; Avery. representing tho
heirs of Peter Lorillard Ronalds, No. 3is Front
st. aox7o This property has been owned by the
Ronalds family for about one hundred years The
transaction was an all cash one.