New-York tribune., 1912-03-24
A POPULAR DISTRICT
Another Large Cooperative
House Planned for 1t.
OTHER ACTIVE SECTIONS
Well Known Buyers Add to Their
Midtown Real Estate
Holdings.

The upper park and Madison avenue dis
trlcts and that thickly populated section OF
Manhattan extending from Cathedral Park
way Gioth street, between Fifth and Eighth
avenues to the Harlem River furnished
most of the important realty transactions
last week
Nearly an a. the midtown zones. too,
we're fairly busy places for brokers, build
-rs and operator
Besides new owners were found for some
~ investment properties on the great West
Side rorth ~ 5s:h street among the par
cells which changed hands being number
OF strongly bail, and imposing apartment
houses. inclgding The Dorchester and the
Paul Jones.
once again 5Tth street. cross street Of
magnetic power in speculative circles, gave
evidence OF the fact that It is soon to be
ore OF the greatest retail shopping centres
on Manhattan Island.
II you are in doubt az 10 where 10 invest
jrst buy 8 ffty-foot plot in 57th street,
anywhere between Madison and Seventh
avenues, and II you can't get more than .
per cent profit from resale Of It in 1914
then there Is not one realty prophet in this
town whose judgment has any value.
Are you watching The Bronx these days?
Did you note last week that the volume OF
business there wGs somewhere larger and
OF better quality than in the previous
week?
The latest and most interesting building
project proposed for The Bronx is large
public hall. like Terrace Garden.
Borough President Miller suggested the
necessity OF such a public building 10 sew
eral construction men, and a committee of
the Bronx Industrial Bureau was appoint
| ed to consider the subject. +. b. Boyn-
ton. president Of the American Real Estate
Company, Is its chairman.
The committee thinks centrally located
hotel, with lodge and meeting rooms, would
| be a profitable venture.
The most familiar landmark sold last
week was the Marquand house, at the
northwest corner of 6sth street and Madi-
son avenue.
The dwelling house. which will soon be
replaced by an eleven story apartment
| house. was erected by the late Henry G..
Marquand at cost OF more than 100000.
The proposed apartment house will be built
]
cas-, architect. which bought the property
| from the II East sixty-eighth Street Com
pany through Pease & Gilman. The II East
Sixty-eghth Street Company took title TO
the property in 1909.
The Marqusnd house is on a plot 'front.'
| ing 425 feet in Madison avenue and 100 feet
in 6sth street and has an l. 376 feet
wide extending to the centre line Of the
block. The total area OF the plot is be-
tween 200 and 5000 square feet.
Present plans provide for An apartment
house OF the cooperative type for the
site, the land and building representing
syndicate
Mr.. Lucas has been identified with the
| building OF many big cooperative apart
ment houses One Of the structures occu-
pies the site facing Gramercy Park, on
which formerly stood the Poor manFon.
Another interesting sale last week in
this district was that Of the five story
marble front dwelling house at the south
west corner OF Madison avenue and SD
street. with a frontage OF 1922 feet in the
| avenue and % feet on the street. It was
sold by Joseph p. Day for the lO6 Sew
| enth Avenue Company 20 A. Read. For
many years the house was the home Of
Henry SlegeL 1t was recently sold at auc.
| ton by Mr.. Day for n525c
The lCG Seventh Avenue Company ac-
qulred the property several months ago
from Mr. Slegel in n trade, which also In
yolved the loft building at No. 100 to ITO
Seventh avenue. with an j. TO 18th street.
| Before disposlng OF the house Mr.. slegel
had had plans prepared for converting II
into an apartment house, although this idea
was subsequently abandoned
In the upper Park avenue district Ed
ward f. Mclaughlin got a fine investment
BY the purchase Of the two five story Nat
houses Nos. 9S3 and s35 Park avenue. at
the southeast corner OF slst street. The
houses are on a plot AlxlO0 feet More