New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-26

Big unimproved and improved parcels were IN
greater demand last week than for a long time
The volume OF business transacted, however, was
not as large It should be at this season of the
year. Hundreds OF operators and investors nave
become identified with the various suburban pur-
chasing or development projects and their absence
from the Manhattan market is seriously felt.
A number of large Manhattan deals reported
and market found last week for several
Bronx block fronts One of the Manhattan trans
actions indicated that the cooperative studio apart
rnent meets the needs Of many artists and IS
an attractive Investment. syndicate OF artists
bought last week plot about co by 125 feet at the
southeast corner of 63d ST. and 9Th ave. from Harry
J. Luce for sl250 900 through Parish Fisher q Co.
and Albert B. Ashforth. Mr.. Luce bought the
premises 1904 for about $4,000 On the plot is TO
be erected a twelve story studio apartment building.
The parcel together with the premises at the north
east corner OF 52d ST. hich E. H. Hartmann In
tends erect house, forms the entire bockfront
in 9Th from 52d TO 53d st.
Inquiry to the cause causes OF the popularity
of the cooperative duplex apartment house propo-
sition reveals features that have hitherto
been publicly considered. The proposition Is not
new Where Il first originated is not known, but
cooperative ownership has existed for generations
in Scotland Germany. Belgium and Holland at
least, and perhaps in other countries. well known
New York realty operator said yesterday in speak
ing the probable origin Of cooperative houses
that his grandfather owned e four story apartment
house In Amsterdam, and IN his will left it 20 his
four children in common and severalty, one floor to
each child. They in turn either sold bequeathed
the floors separately with all the right title and
interest In the property held in common, end in
time the property passed entirely into the hands OF
strangers
It is at least twenty-five years. and perhaps
longer. since the first cooperative ownership house
was built in this city Tho Knickerbocker. at the
southeast corner OF Fifth ave. and 18th St. was
built In 1882 and the Gramercy, the east side OF
Gramercy Park in 1893 Soon after that IT.
de Navarro exploited the celebrated Spanish fats.
IN 18th st. and 18th ST., eastward from Seventh
nue., but made failure of them and they were
finished by tho mortgage. ]. Jennings McComb. by
whose estate they still owned. This failure. the
Of which bore relation to the general
plan. set back the development OF the cooperative
ownership idea for many years. Its recent revival
has been upon essentially the same plan. but with
features Of organization that leave, 1t is said,
chance for wreck!ng by individual perfdy.
Neither Is the duplex plan of floor arrangement at
all novel, some apartments on both sides OF tho
city having Incorporated this feature to some ex-
tent. chiefly IN the first floors and Easements many
years ago. The feature that IL comparatively new
is the peculiarly attractive studio or living room
running through two Stories with the living rooms
and sleeping rooms IN two floors the same gen.
erai level
One of the principal transactions in the down.
town section was the purchase by Adolph Hol-
lander through the Mcvckar- GailIard Realty Com
pany and the Albert Booth Cohn Company of No.
los to III Broad st. extending TO Nos % and rs Water
st. and Nos. 26 and Is Front St The plot comprises
about $500 square feet
A large Bronx deal was the sale by the Henry
Morgenthau Company OF plot OF ten lots COM
prising the block front tho north side OF Tiffany
ST., from Fox st. to the Southern Boulevard. The
size Of the parcel is 20x1os feet. Catholic church.
parish house and school Will be erected on the Site
Father Dougherty will have charge of this new
parish.
Jesse C. Bennett G. Co. sold last week for George
Ghrte+
and Anna NJ. Muller the property No 23s West ssd
comprising the northeast corner of SD st and
Broadway. being lo2 2xll4 feet. on which is a five
story building.
The awards for the widening of Riyerside Drive
have aroused realty leaders concerted action
TO have the work OF the commission In the con-
demnation proceedings nullifed Controller Metz
has expressed himself strongly on more than one
system of condemnng land In this city for public
use. He is TO address the meeting to be held to-
morrow night at the old Colonial Club house I'D st
and Broadway, under the auspices of the Allied
Real Estate Interests. 10 protest against the
awards.
Allan Robinson. president of the Allied Real Es-
Monday night will be held for the purpose of dis
cussng the awards made by the commissioners APP
pointed in condemnation proceedings affecting prop
erty In Riverside Drive, between f5sth and i65th
The Allied Real Estate Interests does not take
up matters Of mere local interest. but this case
apparently exempfying the abuses that have
ter affecting the entire city. and the association
has taken II up the broad ground of public
upon to pay exorbitant prices for practically worth
less pieces of property. In many cases condemna-
ton proceedings have been begun and carried
through where the city does not need the prop
candeyu al ThaYA In Holh xrh