New-York tribune., 1910-12-31

The feature transaction in the realty
market yesterday was that affecting large
parcel in the Fifth avenue section, the I'M
provement Of which will have an important
bearing on that street. The sale is that
Of four old dwelling houses at No. 20 to 70
West Seth street by Parish, Fisher & Co.
for the Union Mortgage Company 10
Daniel W. Richman and Ravitch Bros.
who will improve the property with high
grade twelve story store and loft building.
The plot, 65x929 feet, was assembled oy
Parish. Fisher & Co. in the spring OF 1910
for a we'll known operator. who In the
same season was offered a substantial
profit for his purchase, but who overstayed
his market and lost his opportunity. Since
then the property has passed twice through
foreclosure, each time. however, at higher
price than was paid for it in 1906
In October Judson S. Todd purchased the
property diagonaliy opposite, at Nos. l9 and
u, for s1s2. 500 which figures a little more
than SAL a square foot.
The parcel just sold Is the widest in this
section that has been available FOR i'm
provement in the last four years, and its
final disposition for that purpose, after ali
the vicissitudes speculative property mas
undergone in the depression following the
disturbance Of 1907, may well be taken TO
Indicate that the bottom of the depression
has been reached, and that Improvement
has really begun.
Mr. Richn1an and his associates are pro-
drcers of substantial investment proper
ties and their Improvement of this plot
they declare, will do full justice to its su-
perior location. They expect to have the
huiIdins ready for occupancy by Septem-
ber, 1911.
An interesting sale of Bronx property
Yesterday was that negotiated by Arnoio
Bvrne & Raumann, who sold for the STOCK
ton Realty Company. Henry Corn. presl-
dent, to Louis Bernstein, the four hve
story apartment houses. each on plot 4oA
100 feet, at Nos. 99e, 93S, 1000 and 1904
Simpson street.
This completes the purchase by Mr.. Bern
stein from the Stockton Realty Company
through the same brokers of the elsht
houses which Mr.. Corn took In exchange
from the American Real Estate Company
in payment for q large loft property IN
West 21st street. Manhattan. Eight hrst
mortgages Of $4,000 on each house were
negotiated by Arnold Byrne & Baumann
for the new owner.
Louis H Lowenstein has bought for the
Maxlow Realty Company the six story ele-
vator apartment house known as the
Claremont Court, at Nos. $40 and sol West
113th street 125 feet east Of Broadway, on
plot 1oox10O.11 feet. The house contains
thirty apartments, and is well rented. The
house, which has been held at s25o,c00 Is
bought for investment. The Brokers
Realty Mortgage Company represented the
seller, the Lewellyn Realty Company.
Negotiations are said to be pending for the
sale Of another apartment house in the
block.
Property owners IN the upper part OF the
city met on Thursday to take action on the
recent decision of the Board of Estimate in
levying the total assessment for the grad
ing and paving OF Broadway. from Spuyten
Duyvil north to the city line at Yonkers
wholly upon the property owners. In view
of the general character of the improve
nent, a petition was drawn up to be pre-
sented 10 the Board OF Estimate, asking
that the city bear q portion Of the assess
n1ent. The total assessment, recently con-
f1rned by the board, IS about s47s,0GO, OF
which 600 is for grading and regulating
and s23, 900 for paving. OF the latter
amount about $4,000 falls upon the Union
Railway Company. as its tracks are in the
centre of Broadway.