New-York tribune., 1908-04-20

,,rorerties there one Of the largest deals of the
year in Bronx property was reported in the week.
II was the sale Of the St Regis. an elevator apart
rnent house which was erected by James F. Nee
han the well known builder, on a plot at the
southeast corner OF Prospect ave and 1880 st
BY many real estate experts II is considered 10 De
the best type of apartment house ever put up on
the east side Of the city north of the Harlem River
II was built sell for about 100000. and the sum
at which it changed hands little less than
thar figure. Max z. Bernheimer. who has been
active in Bronx trading for about the last ten
years. the buyer lie purchased the properly
as an investment.
The market for large vacant plots on the west
side of the town and for choice improved parcels
in the section much better last week
than in any week IN the last four months II the
volume of sales Of vacant lands in those districts
IS any criterion Of what many builders intend to
DO this season, there IS going to be considerably
more building Of high class apartment house
strnctures than activity in the early part of the
season indicated. About year ago it looked as
# many poorly constructed houses would be erected
in the Dycirnan and Washington Heights district
and that the aim of the majority Of builders was
10 obtain the greatest possible profit from their
investments. The poorly constructed houses did
rot quickly, and in many carried
for months at large loss This clearly
proved over again TO many real estate men that
badly built houses are poor investments and that
the public shuns houses with small and dark rooms
and which put UP in a flimsy The day
Of the specula tive builder OF mediocre houses in
those beautiful districts north Of I25th is ap-
parently past. the entire districts being
built up along the best lines Many houses of the
best type have been built IN those sections since
they were brought nearer. fguratively speaking
10 the City Hall, by the opening Of the subway 2
few years ago. And, IN spite Of the recent financial
depression, the majority Of those structures
wei rented and the demand Of investors for them
is only slightly less than the supply. II is no
wonder that these sections, with their many natu-
raj and artificial charms. unusually attractive
n 1nKp and Gafgr aD1-E that
trading this has been in that part of the
city. Together the districts form a worthy annex
20 that hourishing section Of the city north Of
Columbus Circle, west Of Central Park and south
Of 125th st.
The Riverside Drive district beginning at a point
about goth street and extending for a considerable
distance along the extension Of the drive. is at
tracing widespread attention among the leading
builders Of this city. It has been some years
since builders Of high class apartment houses
were active they are now in the Clare
mont part Of the town. Should half of the
building projects which have been perfected for
plots in that district this year be carried out
there will be only small number Of vacant plots
20 be improved. Paterno Brothers have been prom
inent for long time in the upbuding OF that dis
trict, and they have already planned continue
actively there large scale. Every one Of their
operations in the district has been success. Last
week they bought four lots at the northwest cor
ner OF ClaremOnt and 116th st. from the New
York Hospital, for about 10000, and from Joseph
Larocque a little more than a lot, fronting in the
drive and about 50 feet north of 16th st. For the
Larocque lot they paid about SIS 900. With these
purchases they control the block front be-
tween Claremont ave. and Riverside Drive. which
they intend TO improve with two twelve story
apartment houses, similar in type to the four
houses which they have built directly opposite A
conservative estimate Of the sum represented by
these operations is il is thought, about S.5O0cOO
There is a brisk market for property in Broad
way from ABOUT 10th to 18th st. In fact trading
in that part OF the city has been for months
one Of the features Of investment and speculative
buying. Frederick Zitten and John II Berry are
two brokers who have found many buyers for par
GELS in that neighborhood and Mrs. G NJ Silver
man has been one of the most successful buyers
and sellers Of property there this season Mrs Sill
verman sold last week. through Mr.. Berry. the
saguenay. a new six story elevator apartment
house, with seven stores. 1T the southeast corner
OF 143d ST. and Broadway. about $4,000 to the
Bookman estate which purchased the Castleton
apartment Eouse, adjoining, through Mr. Berry, two
weeks ago.
Mrs. Silverman recently took the Whitehall a
seven story elevator apartment house at the south
east corner Of 7th ave. and Hath st, in exchange
for the Castleton apartment. Last week she dis
posed OF the Whitehall property. Bernard Smyth
& Sons sold in the week for Augustus G. Field to
Isaac NJ. Berersten plot Of four lots the north
side Of 18th St. 1o5 feet east Of Broadway.
The market for midtown and downtown prop
critics was much broader last week than in the
! previous week. Two deals involved property
" valued al over 100000 in the Times Square sec
ton there was considerable activity. One transac-
don was an investment purchase and another is
likely 10 result in the Improvement Of a central
Broadway plot. Last September Lee Shubert pur-
chased irregular shaped plot at the southeast
corner OF seth st. and Broadway as a site for a
theatre He abandoned that theatre project some
weeks ago, and last week he sold the to a per
who intends to improve II with store and
Office structure. Mr. Shubert took in part pay
ment for the property a large plot in Harlem
One OF the leading deals OF the week in the down
town districts the sale by Hell & stern OF the
premises Nos. % and 1o1 5th ave, between 18th and
18th sts for Richard Sidenberg who recently
bought the property through the same brokers
The premises are now owned by Roswell F. Easton
and Adm @. Pierce. They intend erect a busi-
ness structure the site II said that the total
deal VIII represent expenditure of over $4,000
Az result of q deal perfected last week the prem
ises Nos 14s I5I West S6th ST. on which are old
buildings is 10 be improved Immediately with a
teeive story and loft building. The property was
sold in the week by Finney & Mathews for Mayer
S. Auerbach. Adolph Lewisohn also sold last week
the Hunt Building, 4 five story and basement
marble structure at the northeast corner Of Park
Place and West Broadway Daniel Birdsau Co.
were the brokers in the transaction. At the
piration of the present leases the buyer viii re-
model the buildings the site by adding an addi-
tional story for salesroom purposes. David and
Harry Lppman added To their realty holdings by
the purchase last week OF No % Bond st, a four
story business building, lot extending TO
shinbone Alley. The Cruikshank Company was
the broker in the deal Other large transactions
the week were the sale Of the Mansfield apart
house. with stores the northeast corner OF
and Broadway for about s235 00O TO an in
vestor Of No 60 Maiden Lane and No. 81 william
st. two five story buildings, forming an l. around
the northwest corner Of Maiden Lane and William
St. for Richard Mortimer and Paul SOnntag, 10
the New York Plate Glass Insurance Company.
which intends replace the building on the site