New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-04-27

Investors and builders continue TO be prominent
in realty trading and the great West Side district
north Of 59th and west OF central ram W.
remains the busiest section on Mammalian Islam
In the Dyckman and Washington Heights dlsIIIc'9
there has been g quick market in the last nVe
months for new houses The buying OF such sIruc'-
ures is still of the features OF the local MAJ
ket. Since the recent financial depression uieio
have been few sales in the upper Fifth avenue ols-
trict. but the budget Of deals reported last "eeh
indicated a reawakening of interest in that sec
ton. One of the most important TRANSACTIONS o.
the week was the sale by Romano c Nlchols q
Co and Frederick T. Barry for the New YORK 4"
Harlem Railroad Company of a lot at the NORTH
east corner Of s5th street and Fifth avenue to
James B. Clews. the Wall Street house OF
Henry Clews 6, Co. The property changed hanoS
at $4,000 It is the intention of the buyer 10 De
gin Immediately the work of improving the site
with A large house for his occupancy Accord
ing to a number of brokers overtures have recent
ly been made for the purchase OF many otheL
choice lots this section Of Fifth avenue ana Il
only few of the deals brought to success
ful end there is likely be considerable buldlhg
Of high class dwelling houses on Manhattan lSIa"u
this year.
The greatest building activity the present season
Will be in the West Side from about SJth street 10
the centre of the Dyckman tract The present
plans perfected for building there call for an IN
ves1ment of at least sl50o0H@ in the near future
and II is proba BILE that twice that sum VIII be
spent in the erection Of modern apartment houses
tl,-e,Ir Of the town DelOIe Inc ian
sea son opens If the modern type of house was not
= srIen,lid investment builders would not be SO
anxious 10 enlarge the development OF the Dych-
man and Washington Heights and the upper river
side districts Nor would builders be overanHious
70 be prominent in the market this year IN any
line IF the business if they could not obtain saus-
factory building loans for various projects
In the last week several large parcels OF lanh IN
the West Side districts were disposed OF 10 huiel
and operators William and James Bradley sold
T. Sons ta NJ
Roser-hal 2 Mot Of four lots at the southwest
corner Of Clarernont ave. and 122d ST Inc plot
has 2 frontage on Riverside Drive and IS Opposite
the site Of the proposed theological seminary -
he built facing Claremont ave between E"tl all1
122d SITS This property, now owned by Mr.. Fosen-
-b.I is likely, 10 he improved this year. In Inc
Pron1 trading last week reflected larger demand
among builders for properties located along OF neal
the subway routes and greater demand atiloliS
investors for new houses One Of the most tnnpor-
tsnt transactions Of the week aftectlnS d hIo'iN
rlot was the sale by L. N. Nosauer OF the ONCE
~ Taooh T@itner for William P. Harris and Al
thur NcC,rav executors Of the estate OF Emma
NcC7raw Harris. to the Sykes Realty company o.
2 Mot AZ the northwest corner OF Town 81 sl-1
Prospect ave fronting u feet in Prospect ave and
14s feet in the street, for about SSh"n Nh1ch &C
cor55nz RI report is the highest price ever pai0
for q plot in section Of the greater CITY Inc
propertv Is opposite the Prospect ave station "1
the subway will be improved iroIredla1ely WIN
nv lanes 2 Meehan. Buyers are also more nu-
,,eroue in the central Lexington ave district Sew
eraI large deals that section were reported last
week The volume OF business transacted IN the
week also indicated broadening Of activity IN
various midtown districts One Of the principal
transactions near the Pennsylvania tunnel site was
the sale by William I, sutphin Of the premises NO
e West 9th st. nine story otace ana store
| building The asking price was $4,000 and II IS
said that the purchase price was little less than
| that figure The building rents for $2239o yearly
One Of the most interesting deals of the week was
| rbe sale by Albert B Ashforth for the Capital
| Realty Company to Paul N. Herzog, representing
| an estate o the six story apartment houses,
| with stores No 1901 70 1897 Broadway, northwest
| corner of l33d ST. Roger Foster bought in The
| week from Arthur & Owen o keefe, for about
| S14o9o, No 2t3 Madison ave With this purchase
| Mr. Foster now owns the entire block front the
easterly side Of Madison ave, between 1Soth and
| l31st SITS
While the budget q offerings IN the Tesey st.
salesroonls was large many Of the properties were
| withdrawn, and the actual number of sales We're
therefore few.
| The Real Estate Record and Guide has in its
last issue an article about the spring renting condi-
ton The article is follows.
/ The moving time in the downtown section IS
well under way mere 1 are i many new 9u Th
section Each year there are less families moving
III ls TtE r a ave I.em , Is6 n 5 lie f new
| skTscrapers but there is generally a feeling Of
snted space ranges from 60 TO so per cent in this
| When one considers the great amount of build
ing that was done during the Two previous years.
! II is really remarka BILE that the percentage of
| vacancies is SO small To be sure in some in
stances Inducements have been offered. but only
good cass Of tenants, because they viii remain if
/ treated properly.
z T Plat. treasurer Of the United States Fix
| press Company, said.
| We are well satisfied with the renting condition
fully So per cent OF the space taken. We have
/ reserved one entire floor TO accommodate any
prospective tenant who may desire large amount
/ of The prices obtained by range from
! 81 p to & so q square foot In some Instances
We made slight concessions For example in sew
eral instances allowed tenants time free,
| where they had unexpired leases All the doors
! and trim in this building Of steel. We do
/ our utmost 10 please tenants and do all
| scnab Ole repairs promptly and well. Leaving out
! light and air, ! attribute our system Of dealing
| with our tenants as the reason Of our success,
x Conger renting agent Of the Hudson and
! Manhattan Terminal Buildings:
We are about SO per cent rented, Times are
I during the last fifteen days than We did in the
previous forty-flve days. We had building
ready for occupancy fifteen days prior TO the
tract date We are very proud Of this fact The
first tenant, the United States Steel Product Com
pany started 70 move IN april 9. They occupy
men the svstero hat we have pnt into use "a AID
f5 tenants i" getting settled mas worked admra
Joel s De SeldIng. OF De SeIding Brothers.
The renting conditions in the downtown office
business section have been affected this year by
several unusual causes, which have produced
suits not entirely satisfactory to the owners of
buildings.
The hrst cause was the general business de-
preston of last fall and its continued effects