The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-12
SAY FALLING PRICES
CAN'T REACH HOUSES
Optimistic Realtors Expect No
Drop in Values of I'm
proved Property.

In spite OF an intervening holiday hos
tile realty legislation and rumcrs of APP
preaching drops in building material
prices the market opened this week with
its usual evidences OF normality and
vigor. There is undoubtedly considerable
ressiInlsrl ON the part OF developers OF
single and double family houses in the
outlying boroughs growing out OF the
acknowledged hull in the buying for
occupancy movement. Seasoned OBJ
servers, however, maintain that this
attitude on the part of developers Is
10 a great extent unreasonable and I'M
justifiable.
These observers insist that while the
buying movement has undoubtedly been
checked by recent legislation and eS-
pectation OF immediate lowering or
prices of improved property, the con-
dition cannot last very long. Price re-
ductions that may possibly occur in
building materials during the next six
months can have hardly an appre-
ciabie effect on construction for at
least G year, they say. and meanwhile.
construction that had been planned be-
fore the passage of the hostile iegisla-
tion, these observers say. the Increased
demand for housing space In that length
OF time will surely offset any possible
letting down In market prices for such
property.
In spite OF apparent pessiinisn the
most farsighted observers OF market
conditions are now predicting that the
..-fF,
ton OF buying and from that time on
and covering a period OF at least three
years the market for improved resi-
dental property Will take on proper
tons and good health to an extent here
tofore unknown in Greater New York.
9th Avenue House to Move North.
j. NJ Gliding & Co. plan to move
north on Fifth avenue. II is reported
that the concern has taken a forty-two
wear lease on the twelve-story building
being erected at 724 Fifth avenue by
Farquharson & Wheelocl<. gowns, who
recently acquired place on Fifty
seventh street which they will use for
their business.
Details of Retsenweber's Lease.
United Cigar Stores Company an
nounced yesterday further details OF its
lease OF the property OF Reisenweber's
restaurant at the southwest corner OF
Eighth avenue and Fifty-eigiith street
comprising three buildings In Eighth
avenue and two dwellings IL Fifty
eighth street. The lease rs for about
seventeen years and involves a total
rental OF approximately $3.50 900. The
company gets Immediate possession and
has already subfet the aoutherly Eighth
avenue building TO prominent restau-
rant man OF this city. The United plane
70 install stores along the avenue front
and alter the upper part for business.
IL will su5let the hotel portion OF the
property Re!senweber's announce that
they will retain two floors in the prop
erty for their restaurant
Jersey City Apartment Deal.
Hancock Realty Company sold 90
Alfred Strohmeier 10 to l1s Glenwood
avenue. near the Hudson County Boule-
ward. Jersey City, two three story
apartment houses. 125xf45 In part pay
rnent the purchaser gave the sixteen
family apartment house at 7S7 Sunni.
avenue. Jersey City. and the fourteen
family house at s01 East Eighth street
New York.
NJ. II. Gaillard & Co sold the dwell
ing at 33s West Eighty-fifth street for
Mrs. II. J. Powers
Charles F. Noyes Company cold for
the estate OF William II. L. Lee the
three story dwelling at LAT West Nine
ty-fifth street. 1sxi00. to Mrs. Kathleen
O'Hara. who paid all cash for the prop
erty
Hearth & Hope. Inc. sold to Mabel B.
Barber the three story dwelling at So
Macdougal street. 20xloo.
Dora Finkelsteiu sold TO Laura II.
Hirschfield the three story dwelling at
1913 Madison avenue. I7.7xs3.
Joseph =. Day and J. A. Down sold
the three story dwelling, 16xl00x lrreg-
ular. at 81 West Forty-sixth street for
Philip Goldberg to Gaypeano Alfonso.
James Van Alst. Jr. sold to Arthur
W. Page the three story dwelling at 1855
East Sixty-fifth street, 1S.6xl00.5.
James j. Maddox sold to Margaret
Gayior the three story dwelling at 1t2
West 127th street. 15x100.
Isabel De r. Colbron sold to William
J. Hammer the three story dwelling az
1s4 West Eighty-fifth street. 1ssx1o2.2
Herbert l.. Bodman bought from
James Van Alst Jr., the three story
dwelling at $50 East Sixty sixth street.
1s5x100.5.
Mary "a. Smith sold the five story
dwelling az 2i5 West Seventeen street.
f4.6x1OO.5. 20 the William Sets. Jr..
Holding Company. which resold tho
nou<e 10 Edward a. Rosenberg.
Aosrtm~1t and Flat Trading.
The ak story fat ut the southeast
corner OF Madison avenue and 1884
street. 50x100. has been resold by Morris
Brown TO the Bressler Realty Company
The five story tenement at 521 West
Fifty-second street. 2jx100. has been
scld by Theodore Ortnlsnn for So.
S,egel to a client Of McGrath g. Warren
Emily Schmidt sold to Adele Knee
lend and others the five story fat with
stores. 2oxios.i0. at $50 East 1922
street.
Other Deals In Manhattan.
James II. Cruikshank sold 10 Samuel
\. Backman 215 and 2iT East Ninety
fourth street, i5x1o0, part Of which IL
occupied by a three story building and
G'n balance vatant The purchaser Will
oss the premises In connection with his
laundry buai0eee "a No. Ola which h,a