The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-21
REAL ESTATE NEWS
NOTES AND GOSSIP
Tenants Buy 3 Apartments at
Jackson Heights-0ther
Market Reports.

The three apartment houses at so to
IS and so to Sc and 20 to rs Twenty
seventh street. Jackson Heights, Elm
hurst, L. l., have been purchased by the
tenants from the Greensboro Corpora
ton, and will be owned and operated
Hereafter on the Jackson Heights Plan
OF Tenant Ownership of Apartments.
The three new tenant companies,
which have just been Incorporated for
the purpose of taking title. have adopted
rental schedule of $50 per room for
properties becoming temporarily vacant.
1t also has been decided to set aside
earnings above a Z per cent. dividend
for the creation of an amortization fund.
The greensboro Corporation will man
age the properties for a period of ten
years.
1t is also announced that the incor-
porate tenant-ownerS or the new apart
nent houses at SO to SS Twenty-seventh
street and 92 to 90 Twenty-seventh
street, have declared a semi-annual divi-
dend of per cent, indicating an an
nual dividend of s per cent. The two
companies have been in operation since
May l. title to the houses having passed
on that date from the Greensboro Corr
poration to the tenant-owners.
Hackensack Acreage Deal Rumor.
A tract Of fifty acres on the east bank
OF the Hackensack River. outside Jersey
City, is said to have been leased for
ninety-nine years with an option of pur-
chase by the Fulton Lumber Terminal
Company, which plans large lumber
terminal for the metropolitan district.
r. j. Wander Beck is president, Il. c..
Thomie vice-president. c. w. Daughs
secretary. Albert Carpenter treasurer,
and e. r. Shaw general manager The
directorate consists of B. F. Fitch, Riley
In Y11A and IL A.
dent, vice-president and treasurer.
Deal Forecasts Big Flat.
Palermo Brothers bought from Miss
Anna Mcguire the five lots on the south
side of 163d street. 100 feet west of
Broadway. The property has frontage
of 125 feet and depth on the west side
of 1874 feet and on the east side of 143
feet. The holding price was 100000.
The buyers announce that they will
erect six story elevator apartment
house. A. J. Pendleton represented the
seller and Il. Bloch acted as broker for
the buyers.
other Deals I'm Manhattan.
Joseph p. Day sold for the Maryland
Casualty Company. Richard H. Thomp-
son and David Stewart of Baltimore,
Nd executors of the estate of the late
Elizabeth Y. Thompson. 1928 and 1870
story stores and tenements. 34x100, to
Abraham X. Freschrer.
Buys Bronx brewery.
The old Haffen brewery at Melrose
avenue and 151st street. In The Bronx,
has been purchased by Samuel Wheeler.
The property, which has been held at
S2o0,OOO. has a frontage of 230 feet OIL
Meirose avenue and $50 feet on both
l51st and 1920 streets. MIR Wheeler
plans to remodel the brewery buildings
on 152d street as a storage warehouse
Two apartment buildings now on the
corners of 151st and l52d streets will be
retained and the space on Melrose ave-
nue., between the apartment buildings
will be improved with a row Of stores,
over which will be erected small suites
of apartments. A flreproof garage,
with capacity for $50 cars, will be
built in the rear of the stores, with an
entrance on 151st street SO
A. j. Pendelton represented Mr..
Wheeler as broker and b. Block acted
for the Hallmark Realty Corporation,
the seller.
Operator Buys Aston Dwellings.
Samuel Fitzpatrick is the buyer of
the seventeen four story dwellings at
1913 to 1865 West Fifteenth street. sold
by the estate of William Waldorf Aston.
sale of the properties. The houses are
each nineteen feet wide and the depth
of the lots varies from 1866 feet at the
easterly end to 12G9 feet nearer Eighth
avenue. The city assessed them at be-
Aaeen $4,000 and $4,000 each.
The houses were built by the Astors
and the land on which they stand was
part of the Sir Peter Warren farm.
Deals Revealed In Transfers.
Stebbins Realty and Construction
Company bought from the Metropolitan
Savings Bank the five story tenement,
with stores, at 2I5s Second avenue,
southeast corner OF t26th street. 10. 11x1OO.
Henry Black sold to soloman Mrman
S43 Third avenue, five story tenement,
with stores, 2Oxso, near F'lfty-sixth
street
Jacob Houbert sold to Florence Ritter
and Bessie Bachrach the five story
tenement, with stores, at 344 First ave-
nue., 226x5s. near Twentieth street.
DR.. James /. Russell bought the resi-
dence he has been occupying at q East
Sixty-first street from Hedwlg S. Beck.
1t Is four story dwelling, 1exl00.5.
VIII Auction Fifth Avenue Loft.
Joseph p. Day will sell on january
in IA Vesey street the loft building.
73.3x1O7. at the southeast corner OF
Fifth avenue and Fourteenth street.
The sale is the result of foreclosure pro-
ceedings instituted by the Albany Saw
ings Bank against the Van Schaick
Realty Company. Townsend Morgan is
the referee and the attorneys are
Tracey. Cooper & Townsend.
Realty Co. Insures Workers.
Announcement is made by the Queens
boro Corporation that Il will present to
all Of it's regular staff of employees. ex-
cept executive officers. a group life In
surance policy, effective December "a.
The employees number eighty-ive, and
The policies vary from $500 TO 81 900, de-
pending upon the length OF service. The
certificates will be presented to the en-
ployees at Christmas party to be held
on Friday afternoon at the Jackson
Heights Community Club
MISCELLANEOUS LEASES.