New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-30
COURT.
the


son q n
and usually the necessary transaction IS
made quickly In such an operation he
doss not anticipate immediate profits by a
resale Of his new property. but in the near
future. oving TO certain conditions which he
feels assured are bound 70 increase values.
other spectators who are large buyers OF
vacant land may become the owners Of new
improved sites the kind OF property that IS
readily sala5ie among investors. In mar
keting the sites the sellers usually take in
part payment old structures in section
where alterations or sweeping building
changes viii add 20 the earning power OF
r.al estate in the district. and therefore
make # a more attractive investment field.
Many and varied are the other causes for
exchanges Of producing properties between
SPECTATORS and other realty owners.
The best kind Of trades. however. are
those between investors and speculative
builders. the investors disposing Of vacant
plots or old-fashioned structures for up-to-
date income properties Within the last
three months there mas been fair number
o. such transactions. Those exchanges are
+-7istwor-hv signs Of the stability of realty
values. Ni Ail' sb-A ~ AAAAs A.'''N- N--N
newer wares Of builders and Of roseate
oUtlook
Fair Return on Cost.
When an investor sells vacant sites he
generally obtains a fair return on the total
cost Of the land on every dollar for taxes
assessments for street openings and other
public improvements he gets a reasonable
sum for interest Occasionally be may
have TOO much land and because Of lack
Of money cannot hold 1t until just the right
kind o. offer he wants is made 20 him. In
such q predicament he is forced ,o sell
much below ms asking price. and DE must
LOOK - whatever improved property he gets
70 repay MIN finally for his losses. or
late however there have been few forced
sales and consequently nearly all OF the
exchanges recently made have been salts
factory and therefore profitable 20 all per
sons Interested Numerous forced sales
come with hard times but AT present there
are no serious obstacles ON the paths or
realr. progress. There have been seasons
Of Ireue- real estate activity. but If ever
there was period when improved land OF
al kinds showed a stcadier and better re-
turn On ta- investments represented. DO
was so long ago that ir is merely memory.
No more striking evidence IS 20 be had
as 70 hea.tHful realty growth than The crca-
ton Of the great central Fourth avenue loft
and store region IN the last four years.
Today the splendid business buildings there
which were put up by spectators are be-
Ing bought 5y investors. If they were not
a Investments there would DC no market
Tor thai class Of property. TO create such
big busy business mart and % make if
attractive 80 the leading investors in
sho-. period NJ time rs one ~ the most
brilliant speculative Building achievements
In the history Of Manhattan trading
The New York Real Estate Security
Comnang recently GOT iu p trade two of
the best built apartment houses fronuns
Riverside Drive. just north Of 10th
rreet n bought the houses. which arc
Inc Stadium View and the Shore View.
iron Palermo Brothers through Siawson q ,
Hobbs and tine Northumberland ReaIt
COMPANY Ia excaange DO gave the block +.
non .H Ftfr avenue. between .'7t' ana
b'n Streets with frontases Of 9ol.1o feet
o. Fiji avenue. ie5 feet on io5th street and
y feet on 1fta street
2 Large Sum involved.
recent exchange involving property
Valued st many hundred thousands was
negotiated br William a. Darling q son
Wien they sold FOR the schuck Realty
Company % john T. Comcv thc I}other-
VOC ard the InglewoOd. two siE STORY 1
s.e'ator apartment houses 40. III West /
-0A street. and No Ts West 18TH street .
court 90 feet u width. laid out as /
WI separates the houses. The Rotaer- /
'oa is on ID plot fronting over lo4 Ieet I
No The lng.eWood U.s. on "a Plot with I
"'htsge Of about 100 feet In part pay I
ush' the schlck Realty and Construction /
~npsny took half OF the square DOCK I
Ooancec -. Nth and lzsth streets and Con- .
On avenue and ST Nicaolas Terrace.
Ne vacant site is % Do immediately I'M 4
Proved
81 recent trade for Che seven siory I
-'aeFn hr-proof Once building. Nos ~
- = East 95tl street between broadway 4
Fourth avenue. a dwelling house N .
- .tTeet was taken as part payment 4
80 h@aitr Holding Company owned the .
0fee structure
As result o. one of the largest trades /
me last three months. Arthur tranKen-
-" VIII become the owner Of t"e'Ve 4
- ior building 20 be erected on 'lo /
sRlset. Nos % and q West ssth street I
49, ieer The Harvard Realty ConstIuc- I
A. 0Ompany bought the site ana wiz
p, uhere twelve story lott Tor Ml'
,,Aehsiein. 10 took number oi Iiaii'i"
rtiues In part payment
Tester Building Company got IN