New-York tribune., 1909-12-05

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The real estate market last week was
marked by many successful voluntary auc-
tion saies. large speculative and investment
purchases and a big increase in the num-
her - projects for erecting four and five
story nathouses in The Bronx.
Everywhere there were signs OF a return
20 realty fields OF big investors and specu-
lators who have been conspicuous by their
sbsence FOR the last two wears. Important
deals IL the upper West Side. particularly
in the section just south Of Cathedral
Parkway. were among the principal feat
Ures OF the trading.
n Was week In which many realty
transactions worth remembering were made.
Within the last four weeks two big realty
leaders have increased their holdings on
Manhattan Island 10y property valued at
over S3.O00.00o. Those transactions are
forceful reminders Of what some Of the
hest knoWn investors think Of realty con-
6itions and their views regarding the Tros-
pect for long period Of great activity.
Tho strength Of the auction market
where buyers have recently been found for
properties valued at many millions is
likely TO bring back 20 realty walks many
more PERSONS who have not been seen i'm
their usual places i'm long time. Besides.
81 ~in probably attract large numbers OF
persons with big financial resources who
are not Yet included among the property
owners II the greater city TO become iden-
iined with the alluring realty mart Of
New York.
The brisk renting season is also going 20
bo an important factor I'm adding. il is
Wrought, 10 the number Of buyers in the
various attractive zones ~ Manhattan and
The Bronx, a. well as in other boroughs OF
the greater city.
MANY NEW BUILDINGS RENTED.
That many Of ihe large buildings which
have recently been erected in the midtown
lcft centres. in The greater central Fourth
RKonue district, In the Fifth avenue retail
shopping zone and i'm and near the Broad
way arteries OF trade would be rented from
the plans before the construction work was
wei under way was not expected some
months ago. The majority of persons iden-
1ihod win the projects hoped TO he able TO
find lesseos for their properties before the
carly spring. az which time nearly all the
projected buildings would he ready for oc-
Cupancy. The success which has already
FALLEN TO the DOT of these builders plainly
shows the extent Of the demand for larger
and more modern quarters m many -four
ishing business centres. II quickly places
The buildings on good earning basis. and
therefore makes them OF more than ordinary
attractiveness TO buyers of loft and office
structures. The next step will be 10 find
purchasers for these buildings. and there \
should bo little difficulty experienced I'm
marketing the properties and thus leaving
the projectors free To become identified
with some other similar building operations.
Tn every big building movement whether
II III fn
uptown, there is likely To result an over
building IN certain sections. Here and there
VIII be found new loft and Office structures
almost ready for tenants for which there
has been little inquiry from the trade cen
tres. II Is not necessary To define The boun-
oarles Of those sections where this over
building has taken place. as conditions in
ihose zones have little effect on the realty
progress in neighboring sections. The
builders in tho overbuilt districts are lust 4
lttle ahead OF the business demands IN
those regions. and n they will only have
the patience 10 wait until spring they Will
probably he able 10 lease their structures
81 good prices.
OK THE WEST SIDE
Throughout November some II the lead
ins investors We're unusually active A. buv-
'rs in the West Side area lust south Of
cathedral Parkway. and il was that region
which furnished last week one OF the prin-
Hpal items If news. These investors would
not be 50 busy i'm the territory unless there
WAS growing demand for larger apart-
nent houses and il the vast number. Of
apartment buildings which have been erect
ed ON the West Side i'm the last two wears
were not on A splendid paying basis.
Al the present rate II building I'm This
part OF the city there will Ice few vacant
block fronts between sherman Square and
IL" Claremont district two years hence
The popularity Of the apartment bolses
ana N" quick market for vacant Sizes i'm
The district for Improvement with similar
structures are among the factors which are
responsible for the present activity in the
zone
Last week Adolph Lcwisohn bocana the
""her 81 one of tho finest block fronts in
lhis part of the city. The PROPERTY is al,
Inc westerly side Of BROADWAY. b,f,vee,
BOTH and sfth streets. on tile site is a two
story taxpayer. ID comprises a MOI az
aboui eight lots fronting about 202 fect in
broadway. $ fc-t in S5th street and a.
feei IN 18th street. BE purchased the prern-
ises IRON The Barney Estates Co1nt.anv
Through l.. J. Philips a Co
Directly opposite the premises is am, ,,e,,
belnord apartment house. covering th.
block bounded 10y BroadMsv. Au,st..r,Is,,
atenuo, sbtb and S7tn streets. The mr.
'h'se lnloe for The block front was about
S'"i''. Mr.. LcWisohn recently purchased