davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

broker can show such properties. They
DO not exist in odd" properties, and
they are hard 20 find just now in some
sections of the city because liquidation
from boom times is still unfinished.
But with the exercise Of only ordinary
and reaso nable foreNight the investor,
II any such there N.in existence in
these times, can be accommodated In
sums of from $4,000 TO 100000 In
goodly number. and up to $1,000 600
in larger units and smaller numbers.
But Il has always been worth the cost
to the investor to get tho advice OF a
dlsinterested expert when putting
money into real property, as into any
other form OF investment.
Mr.. Russell Sage used TO say: The
way to make money is TO buy when
property Is low and sell when It is
high" New York real property OF the
choicest investment kinds is as low
in market price now as II IL ever
likely 10 be.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

the tax valuation. Tho real market
valuation is doubtless at least 80 per
cent more. OF course the volume
OF increase has been greatest In re-
cent years. According to tho tax as
SCISSORS, Il has grown 90 per cent. in
the last ten years. This growth In
value in development Is due 10 the
pressure of ever increasing popula-
lion and industry upon the Great
city. Endowed by nature beyond all
other places upon the face OF the
earth il has afforded, still affords
and will always afford TO the am
bilious and industrious of all pro-
fessions, trades and vocations under
the sun the largest opportunity. the
widest and most promising field for
their endeavors.
Now and then as a natural conse-
uuence Of the economic system under
which civilization IL operating, here
az elsewhere. there Is a period of
overproduction and OF consequent
congestion and reaction. In It's proc
ess OF development New York city
has Just experienced one OF those
periods OF overproduction and II now
engaged in working of the conse-
quent congestion. And the world at
large has during the same period
been engaged In n similar way-worlt-
ing of the congestion due to over
expansion in commerce and industry
and to political upheavals such as
have not for half a century seriously
affected this country.
During this period some investors
in New York city real property have
had some disastrous experiences. Buy
ing at the top Of the boom, either
upon their own untutored judgment
or upon the representation OF un-
trained or interested advisers. they
have seen their investmc nts fade grad
ually away. Too many Of such cases
have occurred within the last five
years for the good Of the market. But
n az had i- Is surely no worse in this
respect than any other Investment
market. All investment markets are
suffering from the effects Of overpro-
duction, overcap!tali1at.on and i'll ad-
vised investments The other side OF
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

this story r. OF course that the sellers
% these disappointed investors made
undue profits on their operations.
It must always doubtless be so in
ell investment markets: some people
viii always DO paying too much for
their investments. Bu they are after
all only small minority OF the in
vestment class. When there ia sur
plus money for investment II will nat
urally seek first that which Is safe
and next that watch IL profitable. In
any such test as this New York city
real property must always take front
rank or course u takes money: more
money by comparison than Investment
| IN negotiable securities: although
even here the real estate market Of
| fers opportunities in the mortgage
certificates of its large mortgage com
panies for safe. absolutely safe. in
vcstments Of even small sums--of
| 500 or more, al 41a or per cent.
But the investor in real property IN
/ New York city is always in full con-
troll and possession OF his entire prop
. erty. he is his own president. cashier
and board OF directors; he can retire
I in peace and perfect assurance TO his
sleep. or go away on long Journey
secure in the knowledge that when he
returns 20 his office his investment
will be just where he left Il. unim-
paired and stlll producing. The best
security on earth IS the earth Itself
And as 10 probability there never
| has been anything equal to H. Net
profits OF C. Z. s. .. 10 per cent. are
common and mt difficult TO produce
in any well equipped brokers' Office.
And there are investors here and
there who can demonstrate annual
net incomes OF much more than 10
per cent. Some OF the better located
and best built properties are paying
az high as II per cent and more. But
these are the results Of building opera
! lions, and would not be sold al prices
that would net purchasers such profits
as these There are many Co be had
that will pay now as high as 10 per
cent. and with fair and reasonable
prospect to continue 20 pay as we'll or
better for the future. Any responsible
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
RULE FOR METICUIoUs BUYERS.

When real estate is worth $4,000 a
foot and an inch sells for sss3 33 Il pays
meticulous buyers and sellers TO watch
their tenths and hundredths OF inches IN
transfers and building operations, SAYS
the Chicago Tribune. There have been
many such disputes in Chicago and they
always ended In a trip 10 Washington
20 the Government standard measuring
rod, which takes care OF these hun
dredths fractions.
But the engineers ana real estate
dealers OF the West grew tired OF these
expensive trips. The Western Society
or Engineers came 20 the rescue. and 4
has taken six and one-half years Of
committees reports. conferences. council
meetings and chickering's 20 give Chicago
the officially tested 100 foot measuring
length that is now Installed in the city
Hal for the use OF the public.
II was presented by @. A. VI. Liljen-
crantz, chairman OF the committee, and
is pronounced the most accurately
graduated standard IN the country by
L. A. Fisher, chief OF the Federal bureau
OF standards.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
WATCH CENTRAL ZONE GROW.
Broker sees Great Changes He
tweed 23d and 58th streets.

The section between Tweuty-third and
Fifty-uinth streets from river to river Is
undergoing changes according to Nathan
l.. Ottinger which cannot escape the at
tention OF the wide awake business man
or the real estate trader Within this
area are centred more factors for de.
velopnent in every respect than will bs
found In any part OF the world. Hero
are the terminals Of the three big rail-
roads OF the country--New York Cen
trial, New York, New Haven and Hart
ford and the Pennsylvania, besides the
Belmont tunnel. greensboro Bridge. new
piers on the North River from Forty
sixth TO Fff,y-sixth streets. subway
through Forty-second and Fifty-nin'h
streets. connecting the north and
south bound lines 10 Brooklyn and
Queens. the Hudson tubes 10 Forty
second street and the Seventh avenue
subway TO Fifty-ninth street
This massing Of transit facilities
said Mr. Ottingey. rs causing Il demand
for new buildings. as many lines OF busl.
central transit and shipping point.
Larger and moro progressive FIRMS are
moving to this district because build
inRs with large floor areas are being
erected 70 suit their requirements, on
tho West Side between Thirty-fourth
and Fif-y-ninth streets space In fire.
proof buildings can be obtained al thu
moderate cost Of say 40 cents per square
foot. This is a lower rate than has been
paid for inferior buildings downtown.
The locating OF firms In the section
which has Iust about started 20 grow"
Mr.. Ottnger says. "is a permanent d.-
yelopment. Business cannot 20 farther
north because OF Central Park. which
divides the city. preventing direct COM
munication with each waterfront. q oon-
..t.oa wAios, business Tisn could not TisTy
well submit to-"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
CITY A CARELESS OWNER.
Forgot IL Owned Queens Plot Used
ny Cemetery.

BY obtaining possession OF a section
OF land fronting on Cypress avenue In
the Evergreen section or Queens the
city Of New York will add To Its real
estate holdings property valued at S25.-
900. This property Is now being used
by cemetery for storage purposes.
The fact that this land was owned by the
city was discovered by property owners
in the section when improvements were
about to be made,
The Evergreen Board OF Trade had q
committee investigate the title TO the
property and the report was that he
land belonged he city park system
Park Commissioner Weer OF Queens
made an Investigation and he found that
the land belonged 10 the city but that
Hs iginal use WAS for drain for the
Brooklyn water works aqueduct.
Commissioner Williams OF the Depart
men, of Water, Gas and Electricity has
now taken charge OF the matter and he
will move to have the actual possession
Of the property restored 70 the city, II
tho city has no use for II il may be sold
because II Is very desirable and valuable
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
BETTER BUSINESS COMING.
-. c. CsmSEs=-, Realty Trust
Head, Has Optimistic Wow.

william c. Demorest, president OF
Realty Trust. one OF the Oldest and
largest real estate companies in New
York. yesterday expressed "a most OPP
timistic opinion concerning the outlook
for the real estate market In general
and for the North Shore OF Long Island
in particular Mr. Demorest Is affiliated
with many prominent realty and hnan-
cial interests representing millions OF
capital and besides being president OF
the Realty Trust and vice-presldent OF
the Alec Building Company Is also a
director in many leading financial insti-
tutions.
Mr.. Demorest said II am not an ex-
tremist and do not believe that the real
estate market as whole will expert
ence anything so startling az sudden
revival OF former boom times-at least
not during 1915. Yet on the other hand
/ refuse absolutely to agree with the
calamity hOwlers who without any rea-
son can never see anything but dark
ness ahead. Judging from what know
concerning conditions In Greater New
York ! confidently predict that practi-
cally every part of the city and its
nearby suburbs as well will this year
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
NEW YORK A MAGNET
FOR BIG INVESTORS
$lO0,OOO,OOO Worth of City's Realty
Held by Residents in Other
Parts Of the Country.

Men OF wealth living outside Of New
York have found real estate here an at
tractive investment II has been only
in the last ten years or so that New
York has attracted investors from out
side the city walls. why outs de interests
had not come into New York sooner has
been a question which real estate men
have often discussed Many out OF town
buyers have been brought into the New
York market by /. J. Phillips & co.
Isaac n. Lewis OF the Phillips firm said
the other day that It was not difficult
to understand the reason for out OF
town investors buying high class Man
haitian realty.
The larger the magnet. the greater
the power OF attraction-eo does a mo
trOpolis attract to II nonresident In
vestors, whether II be London, Paris or
New York, and I'm these cities many de-
sirable properties have been purchased
by them. In fact II would not he far
from the mark 10 say that to-day pos
sibly 10 per cent, OF the better grade
investment properties on Manhattan
Island are owned by non-residents.
There are two essential clements
which appeal most strongly to the CON
sentative buyers. one being the stability
which realty of the proper character
offers in metropolis and the other the
chance OF increase in income, witch
must be favorably influenced through
growth OF population.
THE non-resdent buyers are inves-
tors, not spectators, After having once
made careful examination OF a prop
erty, they are content to await the in
crement which should accrue without
being Influenced by temporary condi-
lions, as they know that rs water seeks
It's true level, well selected realty here
must come into It's own. Not infrs-
quently these investors are men of great
wealth and cast experience. Many are
captains OF industry, and Investments
which they have made show a fearless
ness born OF n belief In the natural
growth OF realty, II we'll located within
such a centre OF population as Man
haitian,
Many other cities have offered these
capitalists opportunities i'm realty, hut
their section Of tho nr,rupolis mas
been made only after mature considera-
ton. The largest individual investor I'm
this field studied conditions and locali-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

made this year on so small an invest
ment OF cash
Several men were returned profits
from the little property AZ so Clin street.
The early part OF last year the old build
Ing on the land was destroyed by fire.
The gItted structure and its site were
sold for $4,000. The former owner
decided he had too much trouble with
II to hold It longer Furthermore, IT
would take money to rebuild tho build
Ing The man who paid tl2 900 for the
charred building sold II for $4,000.
The buyer sold II for $4,000 and a
client OF the Charles r. Noyes Company,
the 80 Chr Street Company, took It for
$4,000 A six story building was
erected on tho site, which altogether
represented Al Investment OF $500
The company borrowed s45. 900 on the
improved realty and soon after sold II
% 9. Go'dstein for ST., 900
Through the East side apartment
zone fancy profits have been paid by
builders for apartment house sites.
Edgar A. Levy Is said 10 have paid "A
profit OF 100000 FOR the southwest cor
ner Of Park avenue and ElFhty-seventh
street last July when he bought II from
the sons-in-law of Henry Brasch. an
operator we'll known in real estate
few years ago. Three buildings cover
tho property For the two fats front
Ing on tho avenue tho sellers paid
800. 400 last year and for the house
adjoining on the street $40 o0o was paid.
Levy wanted the site for an apartment
house operation, lie refused to pay
5000 900, but he did give $4,000,
Douglas l.. Elliman said yesterday
that many profits have been made in
the East Side apartment house field and
It was hard to trace them because OF
those elements OF trade which had been
associated with many sales OF apart
ment houses A number OF dwellings
have been sold and resold Mr.. Gilman
said, and each time at an advance ac-
Cord!ng 20 information which had come
20 him, information which he said could
be considered reliable. Profits in dwell
ings speak we'll for "a section and espe-
clallv the East side, which had been
20 inactive up to few years ago
Francis u. Robert, who last June
bought the $4,000 residence Of James
Mclean at 20 East Seventy-eighth
street, sold IT, Mr.. Gilman said two
months later at profit OF $4,000,
The Castle house at "a and 26 West
Forty-siXth street. under lease to the
dancers, was sold last April to Dr.
James bishop at proht OF $4,000
Francis Spiers who bought at auction
early in December the NOR house at
20 West Fifty-thlrd street, sold his con
tract about a week after AZ Il profit OF
$500 to August Vatabe who wanted
( l. for "A home. Mr.. Spers bought the
property for s62. 900 The house was
1 assessed last year for $4,000
Daniel Jackson, head of the D. II.
Jackson Realty Company. the Progress
Realty and several other companies, has
been one of tho years most successful
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
TO STUDY 8 FAMILY HOUSES.
Advisory Council HOpcs "a stinu-
late Small Home DuIIdInE.

The Advisory Council OF Real Estate
Interests In about 10 start an investl-
CATION OF the three family house situa-
ton TO learn the reasons why such
buildings cannot be erected with profit
under the present tenement house law.
under which such construction Is super
vised, A special committee having the
matter In charge will meet every Mon
day afternoon 10 hear all who have in
formation and TO receive plans OF the
best type OF construction OF three fam
lily houses
1t Is the idea of the council That such
small houses can be made to pay under
the present law. or the law should be
changed. The study will be part Of q
programme to learn whether the decline
in small house construction Is due 10
economic reasons or To legal restric-
tons the ultimate idea being 10 take
such action as may be necessary TO en-
courage individual homo construction
instead OF multi-family houses.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

ties for at least Ave years before ma
Ing his first purchase, and that MS
Judgment was well founded Ia proved
through very considerable enhance
ment In value OF his holdings
1T is difficult TO negotiate with such
investors. When one considers ina
with the entrance ~ these capitalists
into tho local field, practically ever
choice piece OF property was submitt"i
TO Them, they were enabled 20 sooure
a line on valuations, and this coupled
with naturally keen insight into sur
rounding conditions made II futile N
attempt 10 influence them, once con-
clusion was reached
TT can be said that the NONRESIDENT
buyer is usually a shrewd one, and he
II broad enough 20 see beyond pstty
conditions which might influence others
lie carries into HIS negotiations those
thorough business methods which have
earned for him the fullest measure o'
success in other fields, and while quick
to recognize a bargain has the means
to take advantage OF II. A glance az
the character Of property which 10 ths
extent of perhaps one hundred millions
has passed into the hands OF these IN
Nestors within tho past ten years VII
SHOW that practically only prominent
qured
Too mudh credit cannot be given %
mis- group OF mon who IN the face OF
adverse conditions have 80 helped 70
strengthen the realty situation, not onF
through the transfer from weak mo
stronger hands OF these propert'es thi-
largely reducing competitive oncrngs,
hut hy providing the sellers tmauy ~
them buiiders) with tho means Of I'm
proving other properties, and that th'i
tearlessncss viii he amply REWARDED
there can be no doubt In tho mines ~
those conversant with real estate
THAT such men as Herbert ru PuS'
Frank y. Hofrstot J, NJ, Peacock W.
-. Park. Lawrence c. Phipps, JoNn
hoge. Marshall Field, John Wanh-
maker, =. g. Aver, George H. Fare
Senator Finn, Cot James II, c, lytto"
aud other capitalists from all over 'n'
country have been buyers OF 80 man
millions OF prominently located RAW
should be an incentive worthy Of emuIa-
ton, as II is usually a good rule !"
follow those who have achieved sue
afss."
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07
BROKERS TELL MANY
STORIES OF PROFITS
Even in These Dull Times Careful
Buyers Are Able to Make
Advantageous Turns

-Use the brains God gave you don't
be swayed by the cries OF panic, and
employ a good broker. That's all that
is needed TO make money today" This
Is the advice of an operator who has
made many successful turns In the last
twelve months
Opportunities TO make money out OF
real estate" he said are as numerous
to-day as a year or TWO or three years
ago. The only difference Is that profits
to-day are not as great as In the past.
Real estate has to adjust itself TO cur
rent conditions just like every other
business. Under the circumstances for
tunes cannot be made In ono or two deals
as in the past. So many killings have
been made investors will not, as a rule
tnter the market unless 200 or 500 per
cent. profit II assured them before title
Is passed. Those days will come again
but for the time being $500 profts should
be accepted and with grace. for there
are many lines OF business In which
comparatively large sums Of money are
required 10 make $500. together with
considerable risk"
Tales OF profit made in real estate are
20 be heard all over tho town. Brokers
In every section almost can tell OF In
cidents in which an investment OF a few
hundred dollars has brought fair size
returns. Profits have not been confined
to any particular class OF property. as
they have not been 10 any special sec
tion. Money has been made In dwellings
In Greenwich Village tenements, through
the East Side downtown loft buildings
and uptown apartments and building
stes. In many cases brokers have
forced fortunes into the hands or clients.
Ten thousand dollars profit was offered a
man for a downtown loft building two
weeks after he was forced TO buy 1t by
HIS broker. He refused II, saying he
wanted sl5, 900 above what he had paid
fsF II, $4,000.
About the property az 81 and 80
Chambers street Is woven story which
brings out forcefully the advice or the
operator given above that common sense,
courage and a good broker viii steer one
10 wealth. The II. L. Judd Company.
which has occupied the property for a
number OF years. bought the properly
last March. Two years previous II was
sold by the old owner, the Bremen es-
tate, 10 a member OF the Aver family OF
The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-07

operators Nearly every property jack
son has bought he turned within a few
days at good profit
81 believe money Is TO be made II real
estate can be had At the right price
This % course viii not be taken kindly
by buyers who invested in the boom. II
they are able to hold their property they
need not worry, for real estate vslues
VIII he az great ms ever before.
For the man with little money the
market affords many opportunities In
fact ! am unable to avail myself Of all
the opportunities that have been given
me"
Last October Mr. Jackson bought the
Gray Homestead on Valentine avenue,
running through TO Tiebout avenue. just
south Of Fordhsm road, from the estate
FOR SlN.'00. The property contains eight
and half lots and u TWO story dwelling.
Though 10 had been offered TO several
before II came 10 Mr. Jackson each
turned 10 down Jackson said ne would
take 10 aud signed contract few
hours later. When II was nolsed about
that jackson thought It was a bargain
and bought II at sight, profits were
offered hlm FOR his contract. Before tho
day had passed he could have sold the
contract and made $4,000 Two months
later he sold the lots 10 the Eberhardt-
PodVar Realty Company for 500 600
The realty company has since refused
$40. 600 for them
In August Jackson bought the three
five story single flats ut 70, - and u
WoSt l2Sth street. and In october re-
sold them at profit Of $500, The
other day no bought the house adjoin-
ing al II West l2Sth street. and has
practically sold at an advance. In
SIX days last May Jackson made $4,000
on tho little house NJ 239 West Thirty
sixth street. He bought II on May 81
from Louise whitehead for $1,000
Judson s. Todd owned on either side
plots which united would give him "A
site for big building. Todd had been
after the Whitehead parcel for several
years. Jackson's reputation for being
quick buyer gave him the advantage
and instead Of the property being Of
fered 70 Todd, jackson was favored.
six days after signing the contract
Todd paid JaErson s23,5OO for tho
dwelling and now he win erect build
Ing on the combined plot
Joseph Schenk made see 900 In four
1 months out OF Mansfield Court the six
story elevator apartment house at north
| east corner of Fort Washington avenue
/ and l6lst street. Up 10 that time Schenh
| had confined his money making opera
tons TO leasing apartment houses, He
had made money and was sceptlcal OF
: entering a field In which he was moi
prRCtIsed, Persuasive brokers induced
I him to set aside his unwarranted eau
ton and buy tho house which was showr
to be earning big money, every apart
ment being rented, lie bought the hous,
and last July sold II TO interests asso
clated with tho Fifth Avenue Bond am
Mortgage Company at "A profit OF $zs, 900