The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-05
Dozen Deals in
City's Most Cost
" Section Show
>tuch Money Is
Seeking Invest
ment---Most Ac,-
tive Period on the
Avenue Since the
Boom of 1907

n has been a long time. years in fact
since Fifth avenue, New York's highest
ur,ced real estate zone. has shown nearly
az much activity in a single month M
during November. Sections where real
Estate il not 40 costly did not reflect
anything like the volume. not to speak
y, the Importance. OF business reported
rom the Fifth avenue zone in the last
thirty days. II is nothing less than a
b,by boom. and II has come so suddenly
ina, Fifth avenue brokers are almost
startled BY this revival of trading. The
General effect that It will have on the
,narke, has ~gladdened the hearts OF real
state men. for in this buying Of cor
ners and leasing Of buildings, deals in
yo,ying much capital. is seen "a return OF
confidence. II has been lack of this
ronfdence that has held back real e.
tate in the last sever or eight years
general buying campaign ~ high
class real estate such as was seen
last month In the Fifth avenue Zone
= lust what has been needed to put
real estate back In its proper place In
the investment field.
Brokers through the Fifth avenue SEC
ton say that the trading of the last
few weeks along that street Is the be-
ginning of a buying campaign which
will equal II not surpass in volume h
tsying movements of previous years.
A great wave of prosperity Ia just now
curling and about to break over the
country. and the trading in Fifth i've
nue. Is one OF the forerunners of this
wave o. prosperity. Investors sure OF
their resources are turning their surplus
money, money made in stock transac-
.t..- L.. So. t.a, f.r- s.sx lt.wt.
class real estate. such as Fifth avenue
provides.
Since the end of the first week OF
November up to yesterday twelve prop
erties in the Fifth avenue zone have
either been sold or leased. Most of thern
have been sold. The first sale was that
o. the Emo houses on Sixtieth and Sixty
first streets just east Of Fifth avenue.
Henry FriCk bought in Seventy-frst
stree, rext to his mansion a few days
latsr. Three days after this deal August
Heckscher bought the Kennedy property
n Fifty-seventh and Fifty-sixth streets.
rex, to- his Fifth avenue and Fifty
seventh street corner. Three days later
Aiolph Lewisohn acquired the property
adjoining that secured by Mr.. Heckscher.
On tina, same day Clarence Payne sold
the south asst corner Of Fifth avenue
and furty-thlrd street III n trade IN
which s7.5a0. 900 worth OF real estate
passed between him and the Postal Life
Insurance Company. That was OF No
y mber ~. ON the day following Klein
4 Jackson bought on Forty-third street.
rex, 10 the corner sold by Mr.. Payne.
Fire days later the buying movement
.hifiel to the upper md OF the avenue.
James Byrnes. a lawyer, buying a site
TO- a dwelling.
The last day OF the month found In
terest centring in the purchase OF the
eel known old property OF the Progress
Club az the north corner of Fifth We
nue. and Sixty-third street. As IL buy
RS we're racing with zach other to get n
slice OF Fifth avenue. Robert Il. Dula,
the tobacco man. announced the follow
ing day that he had bought h Harri-
man National Bank Building at the
southeast corner of Fifth avenue and
Forty-fourth street. This deal was
closed in tn. morning. Before brokers
had closed their shops that day II was
learned that the Walton Building, ad-
Joining the Payne or rather the Guar
anty Building corner was the object OF
0 real estate deal. II war first reported
70 have been sold. but later II was
learned that the property had only bsen
ieased. on Thursday of last week j.
Harper Poor sold . East Eighty-ninth
street In a trade for a Park avenue
apartment house. and on Friday j. II.
Hanan * Suns leased a store in Leslie
r. Plimer's building at the northeast