New-York tribune., 1910-01-30
BIG PLOTS IN DEMAND
TRADING LAST WEEK AFFECTED PROPERTY
VALUED AT MANY MILLIONS.
Nev Ocnes Found for Number of Well Knoscn Commercial
Structures-The Outlook IN Many AttractUe Centres

. VI GnJ AIJrGct1Ce centres.
there are much higher than a year ago.
that scores of plots have been improved
with buildings costing from $4,000 upward.
and that therefore larger sums are neces-
sary- to trade in properties there. But
the opportunities are within the reach Of
the big speculator and investor.
Among the important transactions report
ed last week was an exchange Of proper
ties valued at about $500 600. a S75o.0O0 deal
in which several business landmarks fig
ured, the purchase Of a number of down.
town business sites, the finding of buyer
for large plot in the Dyckman district.
the sale of a West 22d street plot. near
Sixth avenue, to a construction company
for improvement with big loft and store
structure, a change Of ownership OF sew
eral plots within a short distance of the
Pennsylvania tunnel terminal station at
SD street and Seventh avenue and of
large plot in the Yorkville district OF the
city.
Besides there were a number OF large
deals on the West Side, between 59th street
and I25th street and the purchase of an
other large plot in the cooperative apart
ment house zone in Park avenue, just
north Of 59th street
The leading feature of the market was
the strength of the midtown loft centre
and the sales OF downtown buildings. One
OF the downtown buildings which changed
hands in the week was the old Raleigh
Hotel. at Nos 6sS and 665 Broadway. op-
posite Bond street and adjoining the Broad
way Central Hotel. 1t was sold for the
Stephen Whitney estate by Mrs. L. G.
Johnson to the Robert Fulton Realty and
Construction Company. The buyer gave in
T0'op ~ E1YIfn
house. at the northeast corner Of 95th street
and Riverside Drive. The Raleigh Hotel
is to be replaced by a twelve story loft and
store structure for the use of Isaac Broth
ers, clothing merchants and nlanufactur-
ers l. Randolph Jacobs added to his
realty holdings last week by the purchase
from the Gallatin estate of the nVe story
store and loft building, No. A54 Broadway.
This was the first sale of the property since
1888. The sale was negotiated by the Cruik-
shank company.
IN THE DOWNTOWN DISTRICTS.
The trading in the downtown districts
last week also resulted in a change of
ownership of the Federal Building, for
rnerlv known as the Clipper Building,
landmark of early New York, at the sout9-
east corner of Centre and Leonard streets.
of the two five story buildings Nos AZ and
49 Harrison street, adjoining the corner
of West street. and Of the five story build
ing No. 212 Lafayette street. facing the
new plaza called Cleveland Square. Louis
Helm was the broker in the Clipper Build
ing deal. the buyer being the Bradhurst
Realty and Construction Company
Among the important deals on Washing
ton Heights were the sale of Colonial
Court, two seven story elevator apartment
inc yha 0r1ti
northerly block front in 150th street, be-
tween Eighth and Bradhurst avenues, and
the six story apartment house, with stores.
at the northeast corner of 141St street and
Seventh avenue. Louis Helm was also the
broker in the Colonial Court transaction,
the buyer being Herman F. Bindsen, who
owned the Federal Building. The seller
was the Bradhurst- Realty and Construction
Company.
Trading in the district just north of 59th
street and west of Central Park West re-
suited in a change of ownership of several
five story double fathouses, of a Riverside
Drive plot and Of plot of four lots on the
south side of 6Sth street, 125 feet east or
West End avenue. The Riverside Drive
parcel was purchased by Mrs. A. NJ. Booth
from Robert E. Bowling. It has 'front.'
age of about 30 feet in Riverside Drive and
forms the southeast corner of I'D street
Mrs Booth owns No. 4 Riverside Drive. a
large dwelling house, just south Of the
plot. The sSth street site was sod by
Frederick Zittel & Sons for the City Invest
ing Company TO q. person who will erect on
the plot big garage.
ACTIVITY IN MIDTOWN.
The principal transaction in the midtown
zone was the purchase by the Building and
Engineering Company, of which William
B. Birknire is president, of the premises
Nos Is and II West 21st street and Nos. 16
and IS West 22d street. a plot of about four
and one-half lots directly in the rear Of
Stern Brothers store The property was
sold by George N. Gillies for Benjamin
Stern, of Stern Brothers. A twelve story
loft building will be erected on the site
from plans by Mr.. Birknlire. The store
and basement will be used by Stern Broth
ers, who have leased it for term of years.
Other important deals in this district last
week affected the four story dwelling house
No. 50 West 25th street. the dwelling houses
No. 244 TO 250 West 26th street and the two
26th street.
The brokerage reports last week indi-
Gated a larger demand for properties in the
central midtown district east Of Fifth ave-
nue. In that district buyers were found
for the seven story elevator apartment
house No 12O East 34th street, for the three
story stable No. 142 East 25th street and
for the five story double tenement house
No. 208 East 44th street.