New-York tribune., 1919-05-20
Professionals Are
Purchasing Flats
In Many Sections
Activity Is Based on Pros
poets of Large Invest
ment ID e M a n d 8 for
This Glass of Property

IN anticipation of broadening in
ssstment demand in the real estate
market spectators continue active in
.hs purchase of apartment property
of every grade. High class realty is
,rsferred. as the indications are that
'olks with money are coming into the
.sslty market because of the incomes
N he had and the likelihood of values
increasing in the future.
frederick Brown led the trading in
snartment house property yesterday,
rssslling to John Palmer, who specu-
l.,ed in real estate some years ago,
.he apartment structure at the south
vsst corner of Park Avenue and Sew
epsy-sixth Street, which Mr. Brown
held at $1,000, 900. The house is twelve
stories high, covering site III feet
on Park Avenue and 100 feet on Sew
snty-sixth Street There are forty
eight apartments in the house, all of
which are leased at rentals which
total $4,000.
The house was bought by Mr.. Brown
not long ago, and according tc gossip
he has mace a good profit on the re-
sale. Apparently Mr.. Palmer sees
more value in it and prospects of re-
selling at his price with the advent of
large investors into the market. n A.
Berwin E. Co. negotiated yesterdays
sale. They have been appointed agents
for the house by Mr.. Palmer.
Madison Avenue Corner in Deal
The Douglas Robinson, Charles S.
Brown Company has sold for the Sea-
mans Bank for Savings the six-story
elevator apartment house in lot 36.Sx
100 at 1925 Madison Avenue, being the
northeast corner of Eighty-eighth
Street and Madison Avenue 1t is as
sessed by the city for tax purposes at
$4,000. The property was acquired by
the seller in foreclosure proceedings.
The purchaser is a client of Jesse ".
Enrich.
Chesterfield on Drive Is Sold
The Winter Realities, Inc, Benjamin
Winter president, have sold to Otto R.
Hartman, as president Of the North
Castle Realty Corporation, the history
Chesterfield apartment house, on plot
lO0x300, at the north corner of River
side Drive and Ninety J-eighth Street.
In addition to large sum in cash Mr.
Winter took in payment country
estate Of 130 acres at North Castle,
Westchester County, in one of the most
exclusive sections of the county,
bounded on the north by the fine place
OF William c. Squiers, Sd. and on the
south by the estate of E. ". Sells.
MIR. Winter acquired the Chesterfield
last September from the George Abeel
estate in a trade for the Falkland
apartments. Nassoit & Lawning ne
goliated the deal.
Estate Sells to Investors
George R. Read & Co. have sold for
the estate Of Walter J. Peck and Edna
=. Jenkins the Chiselhurst, a six-story
elevator apartment house, on plot SILK
lO1, at 455 TO 459 Fort Washington
Avenue, just south of 181st Street.
The buyer, the Compass Realty Cor
paration (W. c., F. A. and j. C. Brady,
vii hold the property for investment.
Realty Co. Takes 123d Street Flat
Title TO the nine-story elevator
apartment house known as 118 to 122
west 12Sd Street was transferred yes
ssrday by the Minaret Building Com
psny to the Hilda Realty Company.
Inc property was held at 100000 and
contains tnirty-three apartments.
AcDivitt & Bowling were the attor-
nsys in the transaction for the seller.
Market Tempts Old Owner
L J. Phillips & Co. have sold for
Elizabeth Detelman the four-story
apartment house on lot 25x10O at 504
west l57th Street. This is the first
saie OF the property since 1890, at
"hich time the building and three
houses adjoining we're constructed by