davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-01-09

The seven six story apartment houses
with stores at 321-347 East Fifty-sixth
street. erected several years ago by
Joseph Golding have been acquired
from the Winston Realty Company by
the Sharport Holding Corporation. re-
Gently formed at Albany with a capital
of 100000 and NJ. Rapaport. NJ Schach-
now and A. Gross as directors. The
structures stand on a plot 275.4X141.6 Ok
irregular. located between First and
Second avenues. They carry mortgages
for s250,125
Another acquisition by the Sharport
company involves the vacant site, COX
$50, at 146-14S Manhattan street near
Broadway. This was transferred by
NJ Murray Peshlin.
other Deals In Manhattan.
Van Vlet Place sold for the Carr
estate its unexpired twenty year lease
of the plot 1O3.3x15O at s4S-S56 WASH
ington and 44S-450 West Thirteenth
streets. on which there is a five story
store and loft on Washington street and
a three story building and one story
garage on Thirteepth street The es-
The New York herald., 1921-01-09
WILL SELL I9 BROOKLYN
DWELLINGS AT AUCTION

The first important auction Of DWELL
ings to be held in Brooklyn this year
will be conducted by Joseph T. Day in
the Brooklyn salesrooms. lS9 Montague
street. next Tuesday evening. January
IL. The sale includes nineteen new one
family semi-detached stucco dwellings
on seventy street between
Twenty-second and Twenty-third ave-
nues. The houses contain seven and eight
rooms each with tile bath and separate
tile shower. They have parquet floor
ing throughout and possess convenienccs
TO make housekeeping easy. a cement
block garage goes with each house ana
the lots measure 26x100 and 30x100 feet
each
Included in the sale Is the northwest
corner Of Twenty-thrd avenue and
Seventy-eighth street, a vacant plot, 0Ox
100 (: also the northeast corner of Twen-
ticth avenue and Seventy-nfth street.
a vacant plot, 20Ox22O. ready for inn
provement
On January 90 Mr.. Day will sell In
the Vesey street Exchange Salesroom.
at his first special sale Of 1921 "a num-
ber of Manhattan. Bronx. Brooklyn and
Newark. y. J.. properties Included In
the sale are the following Northwest
corner Of Monroe and Jackson street.
hAiAWhAA W HtANl~NH FAlffAs MNlldliAnt a.
four story building with one and two
family extensions formerly used as a
bakery This will be sold In two par
cells also for the estate Of Walter s.
Nichols the vacant plot at Arlington
and Plane streets and Nichols alley.
Newark y. j.. 97x170x irregular
At voluntary sale will be offered the
northwest corner Of St Nicholas avenue
and il7th street. a five story double
flat also 26 West l2sth street. vacant
lot 25N99.ll. and 55s Atlantic avenue
Brooklyn. a three story dwelling Other
estate sales included in this offering are
az follows For the estate Of Charles
Himmel 511. 5l3 and 525 West Forty
eighth street. three five story tenemen,g
25x1o0 each also $50 and 554 West
Forty-siXth street three story dwell
ing aud four story tenement also for
tho estate OF Charles Shultz the south
east corner OF Amsterdam avenue and
1S4th street. 49.1tx10o. vacant and for
the estate OF Jacob Dohrham the vacant
lot, 25x90, on the east side OF Union
avenue. 25 feet north Of i5ist street.
The Bronx.
The New York herald., 1921-01-09

terms satisfactory to both. He told me
that few days afterward he had met a
friend whom he called by his first name
and who was an active real estate
operator and builder and had told him
of our transaction. The operator re-
Piled Where is this Utopia where a
tenant. in these times, is Consulted as
to the amount his rent can be ad-
vanced?' and my tenant replied 1.-THE
old Dry Goods district"
To sum up. therefore. the facts are
these: The district is full with a wait
ing list; some firms starting business
are looking for places there rents gen.
orally have not been raised more than
enough to meet increased expenses and
fair return for capital invested and
slight depreciation leases have been
made in many cases for ten years-an
unusual term In this section of the city I;
eighteen or twenty buildings have been
purchased for occupancy; the esprit
de corps" is better than ever. and what
ITO Let" signs are up are only there
because some tenants are slow In decid-
ing on their future requirements.
In closing feel that / should not
omit reference to the loss the district
has sustained in the death of Daniel
Birdsall. a pioneer, leader. an up
builder and a model for the younger
generation Of real estate men.
The New York herald., 1921-01-09
Joys Outnumber Gloons
Among Feminine Realtors
BY MARTHA CONAN.

apartment house realm, which is her
speciality, although she handles other
properties in the course of her work.
Mrs. Johnson was one of the first women
to enter the real estate field. Twenty
years ago. when she closed her first
deal. she knew OF no other woman
broker here.
This One Is Not So Hopeful.
From my standpoint the 1921 out
look is rather gloomy on account OF the
mortgage situation" said Mrs Johnson.
This is due to the recent laws passed
at Albany which effect rents. The
laws when enforced amount practically
to contiscation of property. In many
instances the rents have been paid 10 the
courts and the owner cannot collect
them.
With his rents tied up the property
owner cannot pay his taxes and the in
terest on his mortgage lapses. Mort
gage interest to-day is per cent For
merly you could get 60 per cent on the
appraisal of your property and mort
gage at 4 u per cent. Now you get so
per cent. of the valuation and pay
per cent. interest on a mortgage.
"On the other hand ii costs about
two and a half times as much to build
to-day as it did formerly. So you see
by the time you build at this increased
cost and when the court comes along
and tells you what you can rent for.
sometimes you do not have enough to
pay your carrying charges. And these
have increased enormously. The high
class apartments are suffering most.
Until the laws are repealed or amended
the real estate situation will remain
critical
From 1907 until 1918 New York
property was rented for much less than
it should have been. Many owners lost
their property because Of mortgages
coming due. Often the owner gave the
tenant two or three months rent free
This accustomed people to much lower
rents than they ever should have had.
For eleven years property owners were
really jantors."
Mrs. Johnson says there is n demand
for private houses and for business
property. She started a score of years
ago in the Pennsylvania Terminal dis
trict and acquired knowledge of plot
values. She has been constantly at Il
ever since
1T is hard work and disappointing
work." she declared. Sometimes you
get a contract signed and find that the
title isn't perfect. and that means long
delay or failure to put the deal through.
Il refuse TO work Tor less than man.
| do a mans work and | want n mans
pay. the legal commission" she said.
One OF her recent deals was the sale
of the Market and Fulton Bank Build
ing corner of Fulton and Gold streets.
Dunlap & Lloyd, real estate and in
surance brokers of so Grove street, ham
die property In Greenwich Village, but
their operations are not confined exclu-
sively to this section. They predict a
year of great activity in real estate.
Houses are in great demand. and old
time residences are constantly being re-
modelled into apartments. they say. and
this restoration means higher rents and
increased values
The New York herald., 1921-01-09
OPENS HIS 1921 SEASON
OF SPECIAL AUCTIONS
B. L. Kennedy viii Offer
Many City Parcels Jan. IL.

Bryan j. Kennedy will open his
auction year on January 2 In the Vesey
Street Real Estate Exchange by onering
eleven Manhattan properties and ono
Bronx parcel. an income properties,
ranging from the lower East side to
The Bronx. Many OF the buildings con-
tain stores and are situated i'm some Of
the clty's bcst business sections. The
properties 90 bo sold are as follows
Executor sale for the estate Of the
late Nathan Kempner 255-259 Ninth
avenue. three four story buildings with
stores. 50Ni00 t3i West Fourteenth
street four story business building
with stores. 25Nlog.3: l7s Ninth avenue.
four story aud basement building with
stores. 2A6tsx1O0; 2t02-2t06 Third
avenue. northwest corner il5th street
two five story buildings with stores.
57Sx719; $50 Third avenue. four story
building with stores. tS2N5o; 352-35i
West Thirty-ninth street two four story
buildings with stores 40X7f also tho
adjoining building az 522 Ninth avenue.
southeast corner OF Thirtv-ninth street.
four story building with store. 24ex
Sc Southern Boulevard Bronx. SOUTH
east corner fouEwood avenue. one story
building with six stores. l0ox25.
For the estate of the late Lippman
Katz Mr. Kennedy will sell ia East
Broadway a four story and basement
building. 2t2XT5 for the estate Of the
late Franzisko Muller. 16i East Ninety
ninth street five story tenement 25N
100; also 331 West Thirty-fourth street,
a four story dwelling, 2ixgs.9.
The New York herald., 1921-01-09
tim" SULLIVAN SALE COMING.
Auctfoncer VIII Oner Assets and
Securities January II.

The auction Of the assets and securl-
ties OF the estate of big Tim" Sulli-
van, which has several times been post
poned, will be held on Tuesday, Janu-
airy II, By Henry Brady, auctioneer.
Rumors OF further postponements have
been set at rest by an order from Su-
preme Court Justice Benedict In Brook
lyn. who has definitely consented to the
sale.
In order 10 clarity the situation Gus
tavus A. Rogers Of Rogers & Rogers
attorneys for Hannah Sullivan. the
receiver. declared yesterday that the
action recently begun against the pres
ent receiver and William r. Ellison.
ex-Corporatlon Counsel OF New York.
the former receiver in which charges
OF waste and msmanagement of the es-
tate were made, would not in any way
Interfere with tho sale advertised for
January II.
Mr.. Rogers said that tho idea that
big Tim" Sullivan died worth 81 900. 900
or 600 was absolutely inaccurate
and that the sale would not realize more
than 100000 or 100000, wheheas the
ella inns OF creditors are more than twice
that amount. out Of which will have to be
paid the expenses OF administration.
The New York herald., 1921-01-09
Details of Cunard Building.

The most notable improvement In this
section is the twenty-three story Gu
nard Building under construction at
Broadway. Morris street and Trinity
place. Each floor has a rentable area
of about 10000 square feet and Is rented
to not more than one tenant. Leases
are made for not less than twenty-one
years at from SO to $3.50 a square foot
This means that each floor brings in
about 100000 annually. II is practically
all rented, though the building is far
from completion. In the next block
north. the old Hamburg American Line
Building is occupied by the United
States Shipping Board. / have included
the latter, although its usefulness in the
shipping world has been subject to dis
pute. The Hartman steamship inter-
ests have just bought the CASTOR, WILL
Jams & Wigmore Improvement at 30 to 80
Broadway.
Nos. 81 to 80 Broadway, until recently
the last OF the old rookeries in that Sec
tion, is being rebuilt into modern bank
ing building and has just been taken over
by the largest Rumanian bank, which,
like some Of the other foreign banking
houses in this immediate neigh borhood.
does a large business In exchanging the
money of immigrants or emigrants taxi
ing passage on the steamship lines
whose offices are close by. This is q
net lease for twenty years and aggre-
gates nearly s1.5OO.000 for six story.
basement and sub-basement building
4.Tx117
The Kerr Steamship Navigation Com
pany's building. just finished at "A Bea-
yer street. adjoining the Consolidated
Stock Exchange. and that of the Munson
Steamship Line at Beaver. Pearl and
Wall streets, are noteworthy additions
to the steamship interests. although a
little out OF tho centralized section for
them. The latter is just across the
street from the venerable Seaman's
Bank for Savings, founded many years
ago for the purpose It's name indicates
and which. / am told. still holds for
seamen funds for which they will never
return.
The New York herald., 1921-01-09
What World Trade Has
Done for Shipping Centre
Nv WALTER B. PARSONS,
of VIM. Cruikshdnk'S Sons.

dency toward Whitehall, State street,
lower Broadway and Broad street.
New and Broad streets have become
in so far as their improvements and
business are concerned. practically
part of Wall street as far south as
Beaver street. The southery corners
of Broad and Beaver streets have the
buildings of the Consolidated Stock Ex-
change and the American Bank Note
Company. The new building of the
Seaboard National Bank is being erected
on the northeast corner. Just below
Marketfield street, at IS and so Broad
street, is the Maritime Exchange Build
ing. / sold this plot, 52.7x107x irregular,
containing five story brick building
occupied by a tobacco concern, for the
late Edward +. Searles in 1902 for $780,
600. 1t was extensively remodelled for
their exchange floor. which had been
in the Produce Exchange Building, and
the upper part for offices. The cost
of Improvement was about $4,000. Dur
ing the last year they refused an offer
reported to be somewhat in excess of
their investment.
Further down Broad street is i'm
proved with the building of the All
America Cable Company, the restored
Frauncess Tavern, which held the his
toric scene of Washington's farewell to
his officers; the Bush Terminal the big
sixteen story Telephone Building, the
Centennial, Harbor View, the latter un
der construction, and the Broad Street
Hospital. at the corner of South street.
AS the big steamship lines grew they
centred about State and Whitehall streets
and Broadway below Exchange alley,
formerly called Tin Pot alley. as a metal
plate there still proclaims. The Battery
Park. Chesebrough and Maritime build
ings were among the first of the large
modern office buildings to be erected to
care for that trade in this neighborhood.
Just north Of that group Is the big
United States Custom House The old
building was In Wall street and is now
the home of the National City Bank.
When the bank remodelled the building
IL retained the appearance of the old
Custom House on the Wall street front.
The streets directly south of the Gus
tom House are rapidly being improved
with modern buildings for the steam
ship business. among the most artistic
of which is Furness House, at the south
west corner of Whitehall and Pearl
streets. The Big Whitehall Building, at
IL Battery place, housed all kinds of
businesses allied to shipping and harbor
interests. and so did the big Bowling
Green Building at IL Broadway. No. 1
Broadway, formerly the Washington
Building. and general headquarters for
the wholesale coal dealers. Is being re-
modelled by the International Mercan-
tile Marine. e
The New York herald., 1921-01-09
CREDIT TO ROBERT r.. FARLEY.

The name of Robert +. Farley was
inadvertently omitted from the list of
the committee of real estate men, build
ers and architects picked by THE NEW
YORK HERALD TO select the biggest deals
In the market OF 1920. Mr.. Farley gave
valuable assistance as n member Of that
committee especially I'm determining the
leading transactions In the suburban
field. and THE NEW YoRK HERALD takes
this occasion to thank him for the SER
vice he rendered and to express it's re-
grets for the accidental omission OF his
name from the list which was published
In the annual real estate review last
Hunda.R
The New York herald., 1921-01-09
DRY GOODS DISTRICT
VERITABLE UTOPIA
Landlord and Tenant Smoked
the Pipe of Peace as They
Agreed on Rents.
BY ALFRED r.. KIRKUs,

BY ALFRED n. hlHhUS,
SeoretGry Of the Ne,o York, Manhattan,
Central and Colonial Real Estate As
socbdtions.
The "Old Dry Goods District" adja-
cent to Worth street was put on the map
about sixty years ago by merchants who
had been scattered from Park place
down Broadway, &C., and the buildings
were built and owned largely by these
merchants and still have the prestige
and many of them are still occupied by
SUCCESSORS of the original settlers.
A large majority of the buildings were
built fifty or more years ago and. while
retaining the dignity and simplicity of
that period. have been steadily improved
and rc1uvenated and, while retaining
sunlight and air from the store floor up,
now have proper modern elevator SER
vice. heating and lighting.
Any doubts that at times have existed
as to whether this district had "con-
tinued in life' have been completely dis
stpated during the past year In ways
that are distinctive from the general and
long hoped for activity In other sections
Of the city.
Original Ownership Basis Revived.
There has been practically no buying
fo- speculation. There has been more
investment buying than for very many
years, the majority OF buildings being
purchased by merchants who occupied,
or wanted to occupy, them for their own
use, and the original basis OF ownership
IL therefore revived In n most healthy
and conservative way
Probably the principal reason for the
stability of this section has been the
close, real friendship between the ten
ants and larger owners: the willingness
TO take comparatively small but reg
ular. return on the investment rather
than changing the rents TO meet the
temporary or varying conditions OF busi-
neA to make or request reasonable i'm
prcvemcnts and repairs TO have tenants
feel that even on short term leases they
would. be given the preference. wherever
possible. over others and that their busi-
ness MACE was also their business home
and tho building UP Of a neighborhood
feeling that is felt by landlord and ten
ant alike.
Even In the demand recently caused
BY the lack of new buildings, most own
crs in this district have thought more
OF stabillzinr IL than of getting the
greatest possible rentals, and tenants
have been appreciating this attitude by
paying advances to fully cover Increased
expenses OF maintenance, operation. &c..
and frequently making, at their own ex-
pense. alterations and improvements to
their premises because Of their feeling
of security in the permanence OF their
occupancy at reasonable rental.
District was Called utopia"
am proud to illustrate this by quot
ing from what was told me by one Of
our tenants. I had recently extended
a lease that did not expire for two more
years i had explained our increased
e1Ucnsss. taxes. operation, repairs, &C.
and ~ had concluded our renewal On
The New York herald., 1921-01-09
NEW HOMES PROVIDED
ON COLUMBIA HEIGHTS
BY f. sINCOx.
Of the Jaokbert Realty Conppaat,


Those who are postponing the pur-
chase of homes in the belief that there
will be a drop in the price OF realty in
the near future are simply deceiving
themselves. Expert realty investors
men who have followed the market for
a hfetime-know and advise differently
In fact they simply observe the law of
supply and demand. 1t is not hard to
understand. With the present demand
for living quarters and lack of supply
or In ability to meet this demand a
drop in prices is out of the question
These are abnormal times.
In this connection IL should interest
people of refined tastes to know that
there is an opportunity to secure one or
more well planned one family city dwell
lings. complete In every detail as re-
CARDS modern appointments and sit
uated in a choice location.
The houses referred to, five in num-
ber were recently completed by the
Jackbert Realty Company. Inc. at
Orange and Hicks streets. In that his
torical section OF Brooklyn known as
Columbia Heights. This Is one of the
most delightful residential districts Of
the city. overlooking Manhattan and the
bay. and in proximity to the st. George
and Margaret hotels.
The houses are of brick construction
and consist OF three stories and base
ment. Each house contains ten rooms
and three baths, and Is up TO date in
every particular. substantially con-
struoted and artistically finished ana
decorated. They are equipped with
every modern convenience. such MS
steam heating system. sanitary plumb
ing, electric lighting. gas ranges, gae
hot water heaters. awnings window
shades. Three nearby subway stations
make access TO and from the various
boroughs convenient, It being. for in
stance. only five minutes TO Wall street
ana fifteen minutes to Forty-second
street, Manhattan.
The New York herald., 1921-01-09
COOPERATIVE FIELD
REVIEWED BYEXPERT
Development Of Plan on Sound Basis
Is Practically Unlimited-Sone
Safeguards Outlined
By FREDERIC CULVER,
President of Caluer q Go.

tent to take a modest profit on the whole
operation, giving its patrons in return
the savings reflected through quantity
production, and finally, until this type Of
ownership is a matter of universal
knowledge and practice, ready with a
corps of efficient statesmen to sell at
established commission rates the invest
ments of those who may desire to dispose
of their holdings.
Spartan Simplicity Is Necessary.
AS to exteriors, the best standards
should be followed. which will give fine
architectural effect through lines and
proportions rather than through the en-
ployment Of expensive ornamentation
In these buildings there should be no
opportunity for the display in the ex-
terror design Of the vanities, mistakes.
vagaries or hobbies Of any one.
The interior should be Spartan in SIM
plicity and generous in cupboard and
closet provision, so dear to the house,
wife practical in it's kitchen equipment,
free from dark holes and long corridors,
having good sized rooms, with ready
accessibility from one part to another.
The introduction Of light and air should
be foremost in the mind of the designer.
The occupant should be left free, after
able ''move-in" proposition. to carry
forward further elaboration of the
premises at his own expense and not by
the contributions Of his co-associates.
The cost of procuring and running a
private residence in a similar location
and with the same area is far in ex-
cess of that of a joint ownership build
ing, but the ease of living in a joint
ownership building is its greatest claim.
Freedom from the furnace man, watch
man. snow shoveler, caretaker tinsmith,
plumber a thousand other Nightmares
of this character annexed to the indi-
vidual house, fit through ones mind.
Field Is Almost Unlimited.
A well organized joint ownership
building always holds title insurance
policy for full value of it's property, its
accounts are usually kept and audited
by n responsible, trust company, and
therefore a dependable examination of
it's title and financial affairs can quickly
be made, so that transfer of a block of
it's stock is simple as compared with a
transfer of title to real estate.
This class of ownership makes for
comfort, ease and economy in living con-
ditions, and is bound to become de-
servedly more popular when better un-
derstood and executed with business
judgment and integrity. 1t lends itself
with equal facility and advantage to
suburban developments.
The field then for activity In this line
should practically be unlimited The re-
suits cannot fail to be satisfactory IL
the methods employed do not violate any
of the well established standards of or
ganiZation and action.
When times become normal the beach
will be strewn with the wreckage from
enterprises planted on frightened ten
antry under the pleasing title of Co
operative apartment buildings" Let us
hope that the cooperative features In
such enterprises will not be confined to
efforts to minimize losses.