New-York tribune., 1920-03-11
Flat Renters
Are Becoming
La N dlords S
Think Ownership Is Only
Way to Control Rents and
Keep Roof Over Heads;
Tenants Buy Big Houses

apartment renters are turning land
lords: 1t is the only way to make
certain living place in the city and
at the same time control the upward
movement of rentals.
1t became known Yesterday that the
twelve-story apartment house at the
southwest corner of Park avenue and
Seventy seventh, street and the Latham,
the sevenstory apartment house at the
northeast corner of Morningside ave-
nue. and 122d Street, have been pur-
chased by tenant syndicates and will
be operated on the cooperative plan.
The twelve-s story Park Avenue house
was purchased from Max N. Natanson
by the newly formed Park Avenue and
Seventy-seventh Street Corporation,
composed of four tenants in the build
ing and ten outside interests.
The building, which covers plot,
renting at $500 to 81 500 each, return
ing gross yearly revenue of SITS 600.
Under the cooperative plan the yearly
rental return will be about $25O0O0.
The fourteen members of the purchas-
ing syndicate will occupy apartments.
Among the buyers are A. E. Outer
bridge, J. H. Jones, George Richards, NJ.
w. Daboll and II. f. Moller
Pease & Gilman negotiated the sale.
They will manage the house.
Latham tenants have paid Joseph
Shenk his price for the seven story
Morningside house. The structure
houses fifty families who pay an an
nua rental of $4,000 The buyers
poration to acquire title.
Mr.. Shenk also sold to Jacob Fish the
Hudson View, at the southeast corner
of Broadway and 148th Street. six
story elevator house on plot 100x125,
containing forty-two apartments and
seven stores.
Flat Buying in and About Harlem
William J. Gabel has sold for Mary
story flats at 1888 and 1885 Lexington
Avenue.
Nathaniel Phillips has sold the four
story fat, on plot 28.1lx75, at 2015 Sec
ond Avenue, adjoining the southwest
corner of 104th Street.
The Superior Corporation has sold
the southeast corner of Eighth Ave
nue. and 145th Street. a four-story
building, on lot 23.11x75.
David Lion has sold to P. J. Conlin
the fvestory flat at Is West l02d
Street
Sharp & Co. and ]. A. Wood have
sold for the Field estate to Rubin
Solov 10 and 12 West 10th Street, two
fve-story flats, on plot 5Ox100.
Cohen Brothers have bought for in
vestment from the Manhattan Avenue
Holding Company five six-story build
ings, on plot 25x107 covering the blcc},
front or the west side Of Manhattan
Avenue, between 107th and 10Sth
streets.
Price Brothers have bought from j.
Wisner $500 Seventh Avenue. five
story apartment house, 4lx100.5. S.
Lanes was the broker.
Charles Wynne and Louis II Low
have bought from John II. BlocA. of
Rockville Centre, Long Island the five
story apartment house, 33 4x10o, ct 523
West 123d Street. O'Reilly & Dahn
were the brokers.
Browning Buys in Ninety y-ninth Street
Max Marx has sold to Edward w.
Browning the two five-story flats, on
plot 5Ox100, at 25 and 27 West Ninety
ninth Street. Millard Veit was the
broker.
Dwight, Archibald &: Perry have sold
to client for investment the hve-story
house at 178 West Eighty-second
Street, on lot 18.Gx1022
Investor Buys on Audubon Avenue
The five and six story apartment
houses. on plot 100x1OO, at the south
west corner Of Audubon Avenue and
174th Street, have been sold by the
Leichter Realty Company to an in
vestor.
Corporation Sells Three Flats
Norman Denzer has sold for the
William Oppenheim Realty Corpora
ton the three fve-story apartment
houses, on plot 75x116, at 800 to 8l3 ST.
Nicholas Avenue, between 150th and
l51st streets.