New-York tribune., 1912-04-21
SALES IN SUBWAY ZONE.
Biu Firm Adds to Its Lexington
Avenue Holdings.
OTHER ACTIVE DISTRICTS
Community House To Be Built
in The Bronx to Cost
About S1,OOO,OOO.

changed hands last week.
Scenes Of activity were in familiar places,
but with an area much less than antici-
mated. In other words, the business done
was in districts we'll known to buyers and
builders. the volume Of operations being
below the normal seasonal average.
Trading in the central zone OF Lexing-
ton avenue was feature, but not at all
one Of great brilliancy.
The zone will be heard from many times
this season. and It will probably make
amends for its dulness in the last few
weeks.
There are so many realty opportunities
IN the section that II is not only hard 10
count them but 10 remember fair num-
Der Of their best points.
lanes c. Mcclure & co. is letting all who
read know that this is most favorable
time to he busy as a buyer in Lexington
avenue. and that is a plain truth OF the
situation. -,
Assembling realty assets there now VIII
Mace IN the hands Of those persons en-
saCed in that interesting and lucrative task
blgoer profits than II they later entered
the zone as buyers
This important work could also be cor
rettly described as grouping or cohecnns
rro perties but traders rarely express II IN
that way. so when you decide to buy
number Of adjoining properties under 'arl-
Gus ownerships you are active in as
sembling'' a pot.
II was not so many years ago that ABOUT
the most sluggish district in old Manhattan
as regards realty operations was that part
~ Lexington avenue just north OF 4-d
street .Ao
Tho New York Central projects and the
1.vine,ton avenue subway and some other
transit plans have aroused It from l's
iethargfc state
1arnes c. Mcclure & Co. added last week
to their Lexington avenue holdings by the
purchase through II. Reinheimer OF the
four five story hathouses No. LA to lO East
62d street, with frontage OF liz rect anu
q 6enth Of iOo5 feet. The property was
owned by the Ottnan estate.
rba oornpanv has not yet decided whether
q will improve this property or dispose
Of It. .,,,,,-
II has been active recently in TINS neien-
horhood. having sold No. us TO Ia Eas' - o4'ii
street. which is now undergoing improve
.,or+ II buut the Welesbourne apart
nnents. No. IA East 56th street anu
certIv purchased tho southeast corner OF
street
"In extending to 4Sth street, consisting OF
over seven lots.
1t IS understood that Richard Croker jr.'
,s associated with James c. MCGUIRE & co.
in the purchase of this SD street property
To Change It's Line.
The appearance Of the block bounded oy
Ed and SD streets. Park and Lexington
avenues. Of which the property OF Mcclure
&. Co. is a part, IS to be conslderdoS
changed in the near future. On the enure
Park avenue block front is TO be punt a
q $4,000 twelve story apartment house oy
tbe Montana Realty Company, from plans
nv Rouse e. Goldstone. Eugene Z. Potte:
ts president, Benjamin Mordecai treasurer
and @. Richard Davis secretary OF the
Montana company.
The apartment house will be one OF the
biggest, one Of the costliest and one OF the
most imposing in the greater city. Ihe
block front on which II will be has a 'front.'
age of 2OO1O feet on Park avenue, and IT'S
depth is 179.11 feet
steinway & Sons piano factory occupied
the site for many years.
Another transaction last week in the Lex
tneton avenue district was the purchase by
e. Machiett from John ]. Fleming, through
James A. Sheeran, OF the four story fiat
house No. l53 East S4th street, on lot 2.lx
1922 feet.
James c. Mcclure & Co. also bought last
week from a client of Gibbs &c Kirby va
cant plot. surrounding the northeast corner
Of Io3d street and Broadway. The seller
purchased the property several months ago
through the same brokers.
MCGUIRE & Co. will erect an apartment
house on the site.
The plot contains about 1859 square feet,
with frontages Of 41S feet on Broadway.
beginning 59.7 feet north Of loSd street, and
1142 feet in 103d street, beginning S74 feet
east Of Broadway. 1t has depth Of 165
feet on its northerly line and l00n feet
on its rear The corner plot. covered by
one story building and owned by an old
estate, is TO be incorporated In the site II
pending negotiations succeed.
In part payment for the Broadway plot
Mcclure & Co. give the Mayheld, six
story elevator apartment house, on plot
97Sx949x irregular. at No. Is East 10th
street, between Fifth avenue and Univer-
sity Place
Still another transaction In the same dis
trict was the sale by the Hyde Realty Com
pany Of the four story and basement stone
front dwelling house No. 167 East 74th
street, on lot zVXIOZ.ZI to t1o"dIu Gloch'eJ'
architect, who will occupy. The house is
one Of row Of four between Lexington
and Third avenues, purchased couple OF
years ago by the sellers, who made eX-
tensive alterations to the dwelling house.
The adjoining house, No. 165. was recently
leased to Theodore Roosevelt, Jr.. with an
option to purchase The Hyde Realty Com
pany still owns Nos. 1873 and 169.
The Paterno & Son Contracting Company
launched last week an important speculative
project 1t bought from Rosanna T. Hicks
through Thomas ]. O'Reilly the block front
on the west side Of Convent avenue, be-
tween 1880 and 134th streets, 200x100 feet. |
It will erect four five story apartment
houses. The property was held at S3O,0o0
The Sacred Heart Convent was at one time
owner Of the block front and disposed of 1t
10 Mrs. Hicks restricting it against the
erection Of apartment houses. The restrc- |
tion has been overcome in other instances |
IN the neighborhood, and the buyer expects
no difficulty in erecting the new buildings |
An announcement that attracted wide !
spread attention last week was that James |
F. Meehan had bought about thirty lots as |
q site for a community life building from |
the American Real Estate Company at
Hunts Point Plaza, with frontage Of $50 |
feet on Southern Boulevard and 145 feet in
East 163d street.
The building will be of marble and terra |
Gotta artistically designed. Of three stories |
but equal in height 90 alive story structure |
The undertaking will cost about $l0OOOOO |