New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-08

clearly showed that the traders, whose
activities have helped TO foru the bud
gets OF sales and rentals of this simmer
season. are wei scattered throughout the
various attractive speculative and invest
ment zones Of Manhattan and The Bronx
50 were the buyers and builders who
were. prominent I'm the early and late
spring, and il Is likely that similar traits
will be attributed to those little and large
operators and investors and other per-
sons who VIII help old Gotham the COM
INK faIl to add more lusre to the pages
of its realty history.
Future conditions are usually foretold
well in advance I'm the real estate mar
kot This is because real estate men are
always I'm contact with numerous spheres
of tho labor and professional world.
Not long ago Herbert a. sherman and
some other influential men in realty walks
said that there had been marked inn
provement in the real estate situation.
and that the outlook was bright Since
then reports have been received from the
West Side. the Heights. the Dyckman
and certain high-claSs home bailiwicks Of
The Bronx that there were fewer apart
ment house vacancies than IN some years,
that little storekeepers We're more pros
porous, and, consequently, there was a
big decrease I'm failures. Store and fiat
house property lad considerably en-
haneed IN value.
Optimism is not a strange feeling except
among the big spectators who have been
TOO greedy and who aye so laden with
property that they are in the doldrums.
Did you ever stop to learn what Won
derful place the real estate market IS in
which 10 get a view of coming events?
From the shopkeeper. the manufacture
and banker. the broker generally gets a
mn that business is declining or rising.
Ut may be in the form OF a request TO
overlook a delay in paying rental or
an application 10 sublet commodious quar-
tiers and provide tenant with smaller
offices or plant or that loans will he at
higher rates and not so satisfactory.
When the trade OF shopkeepers necessi-
oates more space when the rent bills of
manufacturers are promptly paid and
their advertising space in the daihes and
periodicals Is conspicuous and when
bankers appeal 10 borrowers 10 avail
1hepselves of their services the broker
KNOWS about these matters long before
THE public does.
How much stability would the market
possess If. its leaders could not foresee
Future events i'm time TO De prepared for
The changing conditions?
Take typical case. The big specua-
tors decide that nifty more elevator apart
nent houses be. Immediately built in the
northerly residential zones of Manhattan,
that more Block fronts in central Fourth
avenue be improved and that some other
vast structural work be carried out with
out delay. Suppose after the buildings
were ready IL was discovered that for
long time tenants for them could not pc
had and that owing 10 that situation milf
ions in loans were foEclosed?
What a realty catastrophe that would
he, The fair name of realty in this city
would be so clouded that it would take
the market years TO recover its old at
tractivoness. But there is no likelihood
of such a disaster ever happening. Mill
ions are not ruthlessly thrust into the
market but are placed here after the
most careful consideration, no matter
what the nature Of the operation
Have YOU noticed the good habit old
Gotham has been forming in recent
years. u IS ll4t DAs HIS vi Aii'i' ''l'ti
1nent houses IN the summer months
This characteristic was in evidence last
week In fact. it was almost the most
noteworthy feature OF the budget Of sales
OF the week.
One Of the houses which changed hands
9n the week is the Dayton Court, a new
six story structure at the northwest cor
ner Of Fort Washington avenue and l6Oth
street II was sold by David Stewart for
the Dayton Realty Company TO dn in
weston. -.---
The building is on plot 1922 feet in
Fort Washington avenue and 1911 feet in
ueOth street. 1t was completed about two
months ago by the sellers on site ac-
oulred at auction in June Of last year al
The sale Of the holdings Of the Loyal L.
smith estate The structure has been
held al 100000
The Loyal T. Smith estate IS large
holder Of realty in the vicinity \ big
marcel was recently disposed Of by the
estate on the west side Of Broadway, be-
Tween 1e0th and 16lst streets 2o0Xl25 feet,
10 Franklin Petit. This site was imme-
dlatclv resold 10 Herbert Dongan, who is
now improving It with two ten story
apartment houses a transaction involving
an anflav Of about Sl.2o0OO0
There was also big trade on the
Heights.
Nj Strunslly & co. resold FOR Mary ?.
Martin the five story new law house Nos.
81 and 55i West 1S6th street, on plot
fDxi075 feet between Audubon and 81.
Nicholas avenues, TO Daniel +. Hanlon.
This is the easterly one Of two houses
bought by Mrs Martin in June from the
George Backer Construction Company in.
an exchange for the plot. 1ooxlo0 feet at'
the northeast corner Of Pinehurst avenue
and 1sDth street. which was resold to the
,Emmay Realty Company for improve
fnont
In part payment for the 1S6th street
property Mr.. Hanlon gave Nos. 1925 and
1929 P1mpton avenue, two two family
brick houses, each on lot 22.6xlW feet
and the three story dwelling house No. 80
East l93d street on lot 20XSo feet.
Struns<y & co. were also the brokers IN
the resale of the Piuehurst avenue corner