New-York tribune., 1908-05-04
TUNNEL ZONES ATTRACT
INCREASE IN TRADING.
Market Also Found Last Week for
Many Plots an Other Districts.

Owing to the progress being made In building the
Sixth avenue extension of the Hudson Man
haitian Railroad Company's tunnels between Man
haitian Island and New Jersey, and the prospect
Of the extension OF the route being opened to the
public in the future. large operating compa-
MES and investors once again unusually active
in what is known the midtown tunnel section
of this city. Some experts say that this is likely
be the attractive district for investors and
operators for the remainder Of this season. and
that In view of the trading there this year many
of the old buildings fronting Sixth avenue and
in adjacent streets will probably be replaced next
year in few years By modern loft store and
office structures
One of the features OF the trading last week was
several important deals In o. this section.
The Alliance Realty Company and Daniel B. Freed
man bought last week from Frank J. Ransom the
premises. Nos asa 456 and AS sth ave. $50 by 100
feet, adjoining the southeast corner Of 9th
and 18th St, and occupied by Mouduin's restau-
rant. Robert Colgate & Co. the brokers The
restaurant pTopTietoTs have a lease the prop
erty. which has still three years TO The prop
erty is Just south OF 18th st. where there Is
elevated station of the Sixth L. and where
there Will be station of the Sixth avenue sub
way, connecting the Hudson Tunnels TO New Jer-
sey. The building the site is the original
Varian mansion. one of the oldest and most his
tOric buildings in the neighbOrhOoi. IL Orig-
naiiy located in the centre Of the yarian farm.
For some years it was known the Kuickerbocker
Cottage. The old house has been rebuilt In brick
and greatly enlarged for business purposes. ard
has been occupied restaurant since 1901 On
November Is. 1855. title TO the premises trans
ferred by Gustavus A Conover and wife and
Charles E. AppIeby and wife 20 Felix Aston for
s162J0- The present value OF the property is est-
mated 10 be about S225,00o.
Another interesting deal the district the
sale by s. B Goodale & Son 10 George Kern Of the
premises No. 254 7th ave, a four story business
building with frontage of q feet and depth OF
IS feet Mr. Kern owns No. 252. adjoining.
The volume Of business transacted in the week
also reflected a broadening Of activity in the
trail Fifth avenue section As a result Of negotia-
tions successfully carried by Chambers & Veil
Ter the estate OF H. 5. Tavshanjian will erect a
business structure the premises No. SIS 5th
adjoining the northwest OF 43d for c. G.
Gunthers Sons. The site has been leased by C G.
Gunther's Sons from the estate for term Of
twenty-one years rental OF $500 000 for the
term. The fee Of the property is owned by Henry /
G. Trevor who leased the premises last year
through the same broker TO Mr.. Tavshanjan, who /
intended erect a building the site, according /.
to the terms Of his lease This is Of the most
important leases affecting a Fifth avenue parcel (
which has been reported in some months.
The upper West Side districts continue be at
tractive to large number OF builders and operators
Investors also prominent there, buyers Of
high class apartment houses which well built /
and which proftably rented. Last week Klein 4
& Jackson sold through Solomon & Greenbaum d
plot at the southeast corner OF I44th street and .
Riverside Drive. It has a frontage Of 100 feet N
the Drive and JOG feet in the street. The buyer is
a realty company which VIII erect the premises .
a six story elevator apartment house. The same
brokers sold recently three lots the southeast .
corner Of Riverside Drive and I3Sth St to Bing
& Bing, who erecting apartment house
the site The plans perfected SO far this year for
the improvement of plots in the district will mean
an expenditure of many million dollars for con- 4
struCtion work there. There is also a good
market for dwelling houses IN the district and
the houses which have recently been sold have
been disposed Of at good prices The RentOn-M Moore
Company found a buyer in the week for No. 40S 7
West 1+sth st. a three story and basement stone /
front dwelling house, which owned by Mrs /
Rita A. Yawger. A larger demand for dwelling (
houses in the West Side. between 59th and 125th /
SITS was also indicated last week b. sales re- (
ported by various brokerage houses. Slawson & I
Hobbs sold the house No 2os West s1st st for
Mary Isabel Macdonald TO q client for occupancy [
Gibbs Kirby found buyer for the three story
dwelling house No. 307 West 103d St. which was /
owned by Mary A. Crane. The firm Of J. 3. Ket-
cham disposed OF the five story American base
ment dwelling No. 121 West 1I7th ST for William .
c. Hyde and Pease & Gilman sold for Harriet A (
Donaldson No rs West 18TH a four story dwell
ing house, TO client for occupancy Several deals
in that district were also made last week which /
VIII result in the Improvement Of various vacant .
plots, OF the largest transactions OF this kind
reported in the week being the sale BY L. J. Phil
lips & Co. for Som Brothers 70 Isaac Mayer &
Son OF plot 100x125 feet at the southeast corner
Il
apartment house.
Several downtown deals were also reported in the
week. Frederick Zitteu sold for S Morrill, Banner
10 the West Side Construction Company, Nos S3S
and $40 Canal St. eight story loft building
The property held at NIoeoO. Alfred c. Bach
man bought from Edith H Ellis No 80 Mercer
st. q five story store and loft b4idlng. adtoiu-
ing the southwest corner Of Broome ST.
Many operators and Spectators are busy in The
Bronx. One of the largest transactions there last
week the sale by Leo NJ. Mosau uer OF Jacob
I1etners office, OF the block front 4ooxlO0 feet on
the east side OF the Southern Boulevard, between
Tiffany and Barretta sts-, for the Simax Realty
Company, 10 a builder who will improve the site
In the near future, and also for the Mayer estate
OF the block front 9sx15S feet on the north side
Of 144Jh St. between the Southern Boulevard and I
Tinson Place The buyer OF the I44th 81 front
IS also a builder who IS perfecting plans for the
immediate Improvement OF the premises
In the Fesey ST salesroorns there ver. several .
arge auction budgets disposed of IN the week. and
the prices paid were considered good
George c. Graves bought in the week from Cath
crime T Reilley. through Douglas Robinson Charles
5 Brown Co No s6 4th ave. a four story
tenement house. with store SKIS feet. II adions
property owned by Grace Church