New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-11-22

of almost undeveloped land and there is there
for apartment houses to accommodate over mill
ion persons. It If all the forces In the
real estate market have focused their influence on
the Heights region and In the Hunts Point district
OF The Bronx The greatest activity usually follows
the line of least resistance, and in view of that
fact the future Of the Heights zone and the terri
tory formed by the Hunts Point district OF The
Bronx is unusually bright Unquestionably they
will continue furnish the principal realty news
In the closing month OF this year and throughout
the spring and summer season Of the coming year.
CONDITIONS UNUSUALLY FAVORABLE.
Conditions ars unusually favorable for broaden
Ing of these two attractive purchasing and building
movements. The money channels affecting real
estate have vast sums OF money to loan at mini
mum rates OF interest for builders and SPECTATORS
and unless there is an unexpected change in the
outlook the most snuring two speculative and IN
yestnR districts the greater city will be the
Heights and the Hunts Point region OF The Bronx
In the week just ended trading in the HelShts
district was a feature OF the market. One Of the
transactions perfected was the sale by l.. J. phil
lips & Co for C. W. & ". H Van Allen TO Daniel
B. Friedman Of & plot of about FOUR lots al the
southwest corner Of 10th street and Broadway The
plot has frontage of about III feet on the plaza
formed by the junction Of St Nicholas avenue and
Broadway Heilner & Wolf and the Realty Mort
gage Company sold to Gustavus l. Lawrence plot
lots the southerly side Of 1S1st street 1So
feet west of st. Nicholas avenue, through Han j.
How & Co Daniel B. Friedman bought from David
Kahnweiller lot with frontage Of rs feet and
depth of about 120 feet the south side Of 1ast
street 100 feet west of st. Nicholas avenue. Mr.
Friedman resold that lot through L. J. Phillips &
Co to Mr.. Lawrence. A number of other deals In
the district also reported in the week
DEALS IN FIFTH AVENUE ZONE.
A feature of the real estate market last week
was also sales in the central Fifth avenue dis
trict. Best & Co. bought No 32 Fifth avenue,
which was owned by the whiting estate, and Sc
cured under a long lease the premises now oc-
cupied by Dodd, Mead & Co, at the northwest
corner OF 18Th street and Fifth The com
pany recently bought No 374 Fifth avenue from
Robert e. Bowling and leased No BIZ, which is
owned by Mrs. Theodore D. Robinson and James
r Roosevelt On the combined parcels struct-
ure from six to eight stories high will be built
for the exclusive use OF the buyer
Another interesting transaction in the central
Fifth avenue district the sale of No. 3&. a
five story business structure, with frontage Of
about Is feet. to Frank ]. Cassidy. Albert B.
Ashforth was the broker in that deal
AMERICAN BANK NOTE COMPANY's PLANS
As result of the announcement that the Amer
fcsn Bank Note Company had bought plot Of 125
lots at Manila street and Garrison avenue. in the
Hunts Point section Of The Bronx, there was
scrrying TO that region of speculative builders and
values rose rapidly. The American Bank Note Com
pany intends to erect the site a printing plant
which will open with capacity for tWenty-f1v
hundred hands and will have ultimate capacity
for five thousand hands. All the buildings used
as printing plants throughout the greater city oy
the banknote company will be brought under one
roof by establishing this gigantic manufacturing
Mace This is undoubtedly the most important IN
dustrial movement which has taken place In The
BRONX In many years, and Will assuredly result IN
the quick upbuildng of the Hunts Point region
where builders and large building concerns have
been active for some years
II is thought that at least one-haif OF the chi
ployes OF this printing establishment Will seek
homes in The Bronx and in regions near the plant,
and that buildings to meet this demand Will nave 10
he erected next spring. In other words this project
which will call for expenditure of over S5o0GCo.
win mean the creation of a factory centre, employ
ing from $500 5000. and the furnishing of homes
for at least half that number of persons in the i'm
mediate future. According to real estate expert.
This decision of the banknote company will al>o
result in a great increase in building throug hout
the zone will add in few years about So,00AOD
to the realty strength of the city The locality Sc
lected for the plant is the sX-track division of
the New Haven railroad, and the railroad company
intends TO erect special sidings and station for
the handling OF freight shipped by the banSnote
company