New-York tribune., 1910-02-27
MORE DOWNTOWN SALES
TIP 4DING IN BUSINESS PARCELS Il FEATURE
OF MARKET LAST WEEK
larger Demand Sites in Central Zones East of Fourth
4uenue-Buyers Found for Many Fine Home Sites

-,..-a vas g noticeable increase last week
-. .t,a x-ol,rrne Of business transacted in
sor,tcwu districts. This broader market
| ~ such properties was one Of the leading
=. the week the central Fsftn
! .,r. district also furnished several I'm
-o-,snt transactions: the upper Fifth ave-
- residential zone end several adjoining
-, class home districts showed that there
= q good demand for modern houses
,,f.l,fn their boundaries. and in the mid
| -, loft centre ana the central East Side.
o,4, of the Irving Place district and south
| - goth street the purchasing operations
! = ,oanv. Moreover. the West Side
-, Of 5eth street also figured promi-
,e,t1v In the trading Of the week, and on
-Vsehtnston Heights and in some central
ssstr,cts Of The Bronx the deals reported
sS,,lted IN change OF ownership to a
,rn,her OF large and attractive properties.
The largest deal OF the year was also
-=norted last week. il was the sale by j..
.-lsrence Davies and Mark Rafalsky & Co.
% -he American Real Estate Company OF
-ba Merchants Exchange Building, m
srhteen story structure. at the southwest
80 ~ 18th street and Fifth sxenue- 1t
,rss t1IiIt from plans by Mayricke q franke
- the Merchants Exchange Building
OF 40 sA-~
= ,,arr nay-uent the selling company took
lae block bounded by DyckInan' POST anu
denny streets and Maggie avenue The
,7saI involved more than S3.ooooee
-.s -,os,,l1s were obtained at nearly all
.,.. 1o-qe sales held in the Real Estate Ex-
.-anse salesroon in the week. In many
ssae +be nrices paid for the voluntary
sr.-;-,rs we're much higher than the sellers
.,.-,s-+es That fact is likely to induce
Ivy other large. property owners TO seek
-..,-e-s for rheir high class realty W4res
.-,,,.7, -ba s11ctidn channels A notable
.g,,,ra of the auction sales held since the
...-,-,-iot denression OF 1907 has been the
~ ,,rosrsbIe restaIes Of parcels bought
tor the hammer Slsch reSales add TO
80 err.-r,rtl, Of the auction market and also
ta the private sales market.
There ara many more big auction sales
zrhaduled 10 be held this year, and if buy
~ continue 10 be as quickly found IN the
,-ssa,- street rooms in the near future rs
-f.ey have in the last year or two the total
s.lru Of sales this year ln the auction mart
IS likefv ia establish a new record for this
mart Of the realty business. Most OF the
coming big sales are voluntary, and their
-r7ractiveness IS much greater than the
,.srcels 10 be brought 10 the Nesey street
rooms in foreclosure proceedings
~PAD1Hc SOUTH OF CHAMBERS ST
p-eel, ago there was little trading fr
-ls- downtown business area especially II
t1ssr 7rsrf of TIE zone south OF Chambers
.-~esr This sFlggishness Of the distric'
formed one OF The principal topics OF dfs-
.--esi,7, in many realty circles. the consen-
-,rs Of opinion Of experts being that IL was
snlv a luIl before period of consldera oie
ecrfzitv The list OF last weeks safes al
The district. compared with that OF tho
-..c,-;o,7e week seemingly indicates that the
zone has suddenly awakened and that the
ss,.-7l oe mis- anticipsred period of activity
here.
Great changes have taken place in the
skyline Of the zone IN the last five years.
Truly. the undertakings in the district in
that time represent a larger investment
IT, IL any similar period in The history
% the city.
Within The FIVE wears entire blocks OF
familiar landmarks have been replaced
with Office buildings OF record height and
width and the district has been linked TO
the New Jersey shore by the river tubes
f the Hudson & Manhattan Railroad Com
many It Is the period in which the Singer.
the new Trinity. the United States Realty,
the CITY Investing. the United States Ex-
74ress and The twin tunnel terminal build
ings were erected. besides many other
structures Of attractive architectural out
lines and large size
There was a demand for these buildings
of record height and of record width and
floor snace. ard that is why they were put
up in the period named. Some experts
mink that it viii be many years besore
i Il
But there are many experts also who ~
that the trend Of the realty conditions s
toward the creation OF a greater office az
store centre south OF Chambers street, and
tlat the skyline Of The district will nm
rerco d greater change III the next five
years Than il the last similar period.
Tie purchasing operations in the district
last week foreshsdcwed the early improve
nleut Of many large plots. John T. Under
. God. president OF the Underwood Type
writer Company, purchased through George
+ Read & CO. from Samuel H Stone ano
fieiiner q Wolf the FIVE story building.
with store Nos y ana 30 Nesey street,
lie northeast corner of Church street. The
sellers bought the property on November ls
last al The auction sale of the holdings OF
1lle estate Of Joseph ". Meeks for s2Oo 500
they held the property at $2750Oa. The site
- itht-lA 10 bC lHlpLOA+u III TIE near I0aufc
with Office and store building.
Another important downtown transaction
last week was the sale Of the four story
mercantile building No. 30 Broad street by
Cammann. voorhees, & Floyd for Walter
j. Smith and Louise A. Gornley to She
Carey estate, which owns an adjoining plot
The property is three doors south Of the
new home Of the Consolidated Stock Ex-
change.
Still another important downtown trans
action last week was the sale by Robert r.
Rainey and the Douglas Robinson. Charles
= Brown Company Of the four story store
and loft building No lib Warren street, sd-
joining the southwest corner OF Washington
street. The previous sale Of the property
Was in 1896 George Alexander Macdonald
added TO his holdings last week by the pur-
chase from the Greenwich Holding COM
pany Of the new six story loft building Nos.
7ls and ~ Greenwich street between
Charles and Perry streets. This IS one OF
The best built loft structures in the down.
town district and is located in an area
where there is Z good demand for more
similar structures.
The downtown trading last week also in
clpdeG resale of the old buildings Nos. s2l
ard 523 BrooHne street by James H Cruik-
shank 10 the Greenwich Investing Com
IRny.
TX CENTRAL FIFTH AVENUE.
one Of the most attractive investment
II -<f4~ sc