New-York tribune., 1909-11-28

one of the most promising speculative
parfs OF the Pennsylvania tunnel area, and
thar shifting Of realty activity led many
nersons 10 think that the day had at last
arrived when speculative buying on large
scal. and construction work of great mag
nitude would be features Of the business
done I'M th. tunnel zone. The operations
there. however. only formed furry OF
activity. The district has receced again
10 it, former plane OF realty activity.
TlU ACTIVE REALTY DISTRICTS.
LAST week the buying and building
onarat;ons were in the districts which
have been 81 popular since the hrst of the
wear. There was just one exception 10
tlis arocr OF things. and that was IN"
million dollar deal i'm the upper Fifth ave
nue district which may mean so much TO
,ha character ~ the future building there
Apparently there Is still much room for the
ms, f,,l-,ss q Specuators i'm the irving
lpiac. district one Of the most impor-
tant transactions reported last week was
r. sale III that zone fOr Mrs. Sarah y.
O'Neill and Mrs. Grace \. Johnson. y \
Reruin a Co sold for them to Alfred n
Rau the two four story ana basement
dwelling houses, Nos. g. and 69 irving
place on that site Mr.. Rau intends IN
elect q twelve story loft building. The
site l.. near the block front being I'M
,,ro,ed with "A new home for Borgfeldt n
90 II is also near several plots on which
,-a bsinr nut up modern loft structures.
MANNED ana launched in the present specu-
lative movement which has been a feature
Of tho trading in this district throughout
the wear.
The upper Park avenue zone is quickly
becoming a more popular investment dis-
trict Angus; Belmont is now one Of the
large property owners there. So are GER
tain clients % the real estate firm OF
Leonard J. Carpenter Mr. Belmont De
came an owner in the section as a result
az the 81 600 0o0 deal in the upper Fifth
avenue district In part payment for his
Fifth avenue plot he took = parcel OF
about three lots on the northerly side OF
sSth street. about 1ao feet west OF Madison
avenue.
The clients Of the Carpenter hrm pur-
chased from James c. Mcclure Co the
FIVE four story brownstone buildings No.
SIS 10 $40 Park avenue. on lot fronting 100
feet by IS in depth. This plot is near SSd
street and is almost in the heart Of one Of
the greatest cooperative apartment house
ative type Of house has proved to he a
most profitable investment in this region.
and Il is likely that the row Of brown
stone buildings purchased by the clients
Of the Carpenter firm will be replaced in
the near future with either a cooperative
house or an apartment house Of the usual
type.
LARGE COOPERATIVE PROJECT.
one Of the largest cooperative apart
rlent houses ever designed for plot on
Manhattan Island is being built AT the
northwest corner OF 6lst street ami Park
avenue II viii be fifteen stories high. Its
owners are men and women well known in
This c:tv. They viii occupy the greater
part Of the building. The plan provides for
The management Of the structure as nearly
like club possible. and directly under
the supervision of the owners through
their agents According TO a report made
public last week the owners of this house
We're attracted to the scheme because il
seemed 10 solve for them the problem of a
permanent and commodious home in this
city much better than the purchase Of a
large dwelling house.
Attention was once again directed to the
Fourth avenue section. where many mill
ions have been invested this year in the
purchase and improvement Of sites. by the
sale Of No. 1881 East 30th street. TWO four
story brick dwelling houses. They were
bought 10y Mrs. Elliot Danforth. With that
purchase she now controls a plot fronting
about seventy-fve feet on the avenue and
e.ghty-six feet on the street, at the north
. west corner Of SOth street and Fourth ave
nue. The plot is opposite the corner parcel
being improved by Dodd, Mead & Co
In the Upper West Side a number OF i'm,
portant deals We're reported. the principal
one being resale by Max Marx Of a plot
4 l"lX-t0 feet at the northwest corner OF
. Broadway and listh street. through Du,
Eois q Taylor. 10 Elias Gussaroff. This is
part Of the Field estate block. recently pur-
+ chased by the seller. On the corner parce
sold is 10 be erected ten or a twelv,
4 story apartment house.