davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1921-09-04
ROCK ESTATE AT OYSTER
BAY TO GO AT AUCTION

The greatest number of costly private
estates that have been sold at auction
during the last six months have been on
the north shore OF Long Island In the
vicinity Of Roslyn, Glen Cove. Locust
Valley, Lloyd's Neck and Bayville.
Among the estates that have been dis
posed of were the new Alfred I. Du Pont
place at Roslyn and the Wlnslow S.
Pierce place at Oyster Bay.
Arthur c. Sheridan. who sold thes.
two properties. will sell the Rock prop
erty, Oyster Bay Harbor. adjoining the
large estates of William r. Peters and
Phillips Abbott. The residence was built
by the late William T. Rock, founder
and president of the Vitagraph Company
of America. The mansion house. out
buildings and nine acres. including deep
water frontage, are in the first sale.
After this sale there will be offered
the adjoining thirty acres including
water frontage on Oyster Bay Harbor
and Mill Neck Creek. The buyer of the
two plots, which are to be sold separ-
ately, will own one of the largest water
front estates in the Oyster Bay section.
The sale will be held on Saturday. Sep
tember q.
The New York herald., 1921-09-04
on THE EAST SIDE @ the coNcouRSE ~
BETWEEN ~ ST ana I72 NO STREETS fyNM,
AssAR REALTY ovNERS wv

similar overproduction Of housing
space.
An investigation OF apartment house
construction in The Bronx made by THE
NEW YORK HERALD last week brought
forth denials from builders and archi-
tects that the speculative builders are
directly profiting from tax exemption.
According to them the exemption does
no more than provide better market
for their houses In other words, 1t
serves to induce the investor or specu-
lative owner to buy the houses II the
speculative builder did not have this as
surance that he can dispose of his costly
venture he would not to-day be putting
up the houses in such quantities.
Any one who doubts that the building
boom Is on can be assured by making
trip into the West Bronx along the
Jerome avenue subway extension at such
points of intersection as Fordham road.
Kingsbridge road and Burnside avenue
and along University avenue and
Featherbed lane. Or he can scour
around certain sections OF Washington
Heights. where an unusually large num-
ber of multifamily houses are In the
course of construction. In The Bronx
one architect alone, Charles Kreymborg
has sixty apartment operations on his
hands. Mr.. Kreymborg, by the way,
during the last few months has drawn
plans for nearly one-half the entire out
put OF new apartment houses In The
Bronx. Nine out OF ten OF them are In
the West Bronx along the Concourse
and the territory tapped by the Jerome
avenue subway extension.
According to Mr.. Kreymborg. the pro-
duction OF flats and apartment houses In
The Bronx, rapid though it may seem
to-day. is only half that of 1909-10,
when common brick was selling for IS
thousand. He admits that he docsn
know how the tenants who snap up the
The New York herald., 1921-09-04

$40 and SIS room suites in these new
houses can afford to pay the rent, but
they are doing II, he says, and they are
clamoring to move in before the houses
are ready for occupancy. The result Is,
Mr.. Kreymborg points out. that the spec
ulative builder often sells his houses
fully tenanted.
In order to meet the high cost OF con-
struction. which is more than twice that
Of the year 1910, Mr.. Kreymborg says
the builder is putting up vastly better
and more sensible apartment house. In
stead of spending several thousands dol
lars on fancy facades, he builds them
plain OF red face brick on front and sides
and on the courts as well. The courts
are much wider than in the pre-war
days and are made attractive with gar
dens, &c. Every room has hardwood
parquet floor. and the equipment is more
expensive and represents the last word
in modernity Mr.. Kreyrnborg Is in
clined to believe that the builder puts
too much money into the houses, but he
recognizes that IL rents are to be high
the New York tenant wants the best
for his money.
One fact which Mr.. Kreymborg cites
as proof OF the superiority Of the specu-
latlvely built flats to-day as compared
with pre-war days is this The builders
are obliged to start the operation with
at least $4,000 cash and in most cases
s100. 900 because OF their inability to get
a proportionately high building loan as
compared with the old days. This, he
says. eliminates the undesirable class of
"shoestring" builders and fnsures the
better built houses.
In defence of the high rents asked.
the architect comes to the aid of the
builders. He says they are unable to
produce the houses even on relatively
cheap plots in The Bronx Gas compared
with Manhattan) without charging the
investor five times the total annual rem
tai income of the property. In other
words the speculative builder gets $780,
900 for a house which must bring an
annual rent roll of $4,000. This also
involves the buyers security for his In
vestment. At the predicted rate of apart
ment house production. the experts con-
clude that 1t will be at least five years
before the supply has reached a point
where the owners of old houses can no
longer compete with the new properties
in rents. After the expiration of that
theoretical period the whole scale of
rents will lower either rapidly or gradu-
ally. The investor therefore computes
that II is necessary that he shall safe
guard his money by an adequate return
during the first five years to compen-
safe for the losses which he is likely
The New York herald., 1921-09-04
ALL AWAIT SALE OF
CD. DICKEY ESTATE
Spectators and Builders Look
Forward to Offering of His
toric Property.

The most important auction event in
The Bronx scheduled for September Is
the sale of the attractive estate of the
late Charles d. Dickey in the Hunts
Point section, which will be placed on
the auction block on Thursday. Septem-
Der Is. by Joseph =. Day In IA Vesey
street. The estate consists of 400 lots
less than three blocks east OF Hunts
Point Square. the transit centre OF that
section OF the East Bronx. and II fronts
on Hunts Point avenue, the business
artery OF the section. other important
frontages arc on Lafayette. Bryant and
Longfellow avenues and Spofford. Whit
tier. Drake and Faile streets.
For the first time in a number Of
years several large waterfront and acre
age estates In the Westhampton. East
hampton and Good Ground section OF
Suffolk county. Long Island. are to be
sold. The sale will be conducted by
Joseph p. Day, auctioneer. at his next
special sales day, on Tuesday, Septem-
Der 10. at noon In IL Vesey street.
The properties include $50 acres near
Three Mile Harbor. with a large water
frontage; also 166 acres at westhamp-
ton. fronting on the old country road
and convenient TO the Westhampton
station and beach also sixty-six acres
at Brookhaven. near the Long Island
Railroad Station. with important road
frontoges also ninety-one acres at Good
Ground. near the railroad station. and
twenty-six acres at Speonk, In the heart
OF the duck farming section and having
about 1000 feet OF frontage on a creek.
together with about sixty feet OF 'front.'
age on Merrick Road.
Other properties to be sold by Mr.. Day
at the same time and place. are as fol-
lows: In the Bronx. vacant plot on east
side of Jerome avenue. 265 feet south OF
Minerva place; vacant plot on west side
OF Bathgate avenue, los feet north of
East 176th street: also. at City Island.
n vacant plot on the south side OF Ford
ham street, 100 feet west OF North ave-
nue..
Mr.. Day will seH In parcels OF 100
feet frontage. the waterfront property.
200x47S feet, on Point Breeze place
hear Mott avenue. fronting on Jamaica
Bay at Far Rockaway, L. i. also at
EImhurst. l.. l.. two vacant plots to bc
sold separately. on the east side OF
Junction avenue, ninety feet north Of
!. Martense street.
The New York herald., 1921-09-04

For two years the public has indulged
in watchful waiting for that much
anticipated building boom" which
prophets said would surely come as
soon as the war was over. During the
last few months large portion of this
anxious public has been SO engrossed
in figuring out when the boom would
actually occur, or has been so exercised
over the prospect of another jump in
rents this fall that 1t apparently has
failed to realize that the heralded epoch
Is actually at hand Great apartment
houses are going up in the northern
reaches Of Manhattan, but particularly
in the West Bronx. and II the work
keeps up at anything like the present
rate for year or so more the present
shortage Of living space ought to be
knocked into cooked hat. For this
actual progress toward the solution of
the problem Of the housing shortage
two things are mainly responsible-the
courage of the speculative builder and
the local ordinance exempting new
residential buildings UP to a certain
valuation from taxation for ten years.
True. the flats and apartments that
are going up now are built to rent for
from SIS to SIS room, which doesn't
spell much Immediate relief for the
wage Garner, but these new houses are
what is moro to the point. they are be-
Ing filled as rapidly as they are COM
pleted. which means that the tenants
who are moving into them must be pro-
viding vacancies in old houses perhaps
less desirable than those for which they
are willing to pay anywhere from $50
to 500 month for a suite of four or
five rooms. Furthermore. two and three
family houses are being built now faster
than they have been built since 1913.
thus making another dent In the home
shortage which has menaced the city
since 1918.
There was quite naturally a deal OF
opposition to tax exemption on the part
of owners of old apartment houses.
although 1t did not find much express
sion at the time the local ordinance
was passed. Now there is more or less
dissatisfaction with 1t among the class
of rent payers who expected that the
exemption would at once bring about
the millennium in the world Of oppressed
tenants. These persons point to the
$50 and 500 rents In the new flats and
at once conclude that tax exemption at
The New York herald., 1921-09-04

group OF up to date tennis courts for
the Charles A. Mann Realty Company
at westerlcigh, Richmond Heights. on
Saturday, September "a, at o'clock
regardless OF weather conditions. The
tennis courts will be disposed OF as one
parcel The property is on westcott
Boulevard, parked thoroughfare. also
on Maine avenue and Richmond turn
pike. Trolley cars on the Silver Lake
line from St George pass the properties
Most important Of all these iocational
advantages, however. Is the fact thas
Westerleigh Is close by the site selected
by the transit engineers for the subway
tracks 20 emerge TO the surface. This
will bring the properties within easy
reach OF Brooklyn and Manhattan by
means OF the extension OF the Fourth
avenue, Brooklyn Rapid Transit line
under the Narrows to Staten Island.
NexA Saturday Mr.. Kennedy win ssas
The New York herald., 1921-09-04
% %EssHnes H . H E!s o5 S 5c1eS gSLS

400 lots at Springfield Gardens. Queens.
for the Gates Theatre Corporation.
which Is erecting s1,00o.000 playhouse
Mt Broadway and Gates avenue, Brook
lyn. There are stations on the Mon
tauk and Rockaway-Long Beach d.
visions Of the Long Island Railroad. Oh
the property. and tho New York avenue
ica-Freeport trolley line Is close by
Another liquidation sale by Mr. Ken
nelly Will be held September n at
Queens Park, Franklin Square, L. T.,
when 275 home building lots will be dis
posed OF for the Franklin Square Realty
Company. The property 70 be sold IL
fourteen miles from the Pennsylvania
Station. Manhattan. and the Flatbush
Avenue station, Brooklyn. or may be
reached by a trolley line connecting
with the Brooklyn Rapid Transit AZ Ja-
maica- At all sales title policies will
bo Issued free to purrhasera
The New York herald., 1921-09-04

fare. Some builders are inclined to be-
lieve that they ought to be getting six
times the rental income for their houses.
AS it is. however. it Is generally con-
ceded that the builders are taking am
pie profits, but how long this condition
will last is problematical.
While the filing of plans is not as sure
guide to the amount of construction
as the letting Of contracts. it neverthe-
less affords reliable basis for COM
putation. For this reason the following
table of plans filed with Superintendent
Reville In the Bronx Building Depart
ment, Is significant when comparison Is
made between the first seven months of
1920 and 1921:
The New York herald., 1921-09-04

Now that tho subway tunnel from,
Brooklyn to Staten Island is being pre-
pared by engineers from the Board
Estimate. real estate on the island x
ough Is beginning TO feel the stimulating
effects which plans for rapid transit ex-
tension into undcveloped environs OF
the city invariably bring. Coupled with
the fact that the subway to Staten
Island IL now practically assured Is tho
remarkable development OF piers and
terminals which the city has been work
ing out between Tomplinsville ano
Stapleton, which are focusing Interest
on the future development Of real estate,
especially In the northern section of
richmond.
One Of the first evidences OF unusual
rtivity there Is the announcement by
bryan l. Kennedy. Inc. that he will
sell 161 lotA nvs modern dwellings and
The New York herald., 1921-09-04
Important Sale ON L. I. Coming.

Several interesting auction sales have
been scheduled for September by 7. r.
Archer. auctioneer. On Labor Day nc
will offer 129 building lots and one
seven room house at Franklin Square
Queens. The property Is near Stewart
Manor The sale will be held in a tent
with music provided. On Friday and
Saturday of this week. Mr.. Archer viii
sell 113 residential building lots at
"Waterview." Bellmore, l.. l.. fronting on
the Merrick Road and Belmore avenue
within easy walking distance of the
Long Island railroad station. On Sat
urday. September IL. the actioneer will
offer sc lots In Jamaica. on Arlington
Terrace near Rockaway Road
The New York herald., 1921-09-04
lZSNN2TyIxyNXv1Sy1Ty<ZkS <ZkSzEvHSvNSxzNzZHZzNyN
SOUTH WEST CORNER Of I8oTH STREET and1
UNIVERSITY AVENUE. sENSAULT REALTY CO.
OWNERS !.

It's best is a huge joke. Only the $5.Vvv
a year man or woman can afford 70
live In them, they mournfully exclaim.
This attitude Is unfortunate ana
shows lack Of foresight when the stua-
tion Is analyzed. Since the first of this
year there have been three times as
many plans for apartment houses and
dwellings filed in The Bronx as there
were during the corresponding seven
months of last year. Superintendent
Of Buildings p. J. Reville and architects
and builders in that borough are unani-
nous in their belief that had there been
no tax exemption offered there would
have been less than half the prepara-
ton for building than has thus far
been recorded this year.
A common objection to tax exemption
that has been raised ever since the or
dinance was framed was that the spec
ulative builder would derive all the BEN
eft, or that the buyer Of the tax ex-
empt apartment house would not share
the saving with his tenants. Granting
for the sake of argument that these
charges may be true at present, the
critics lose sight of the fact that tax
exemption is building flats, and that
the only possible way in which rents
can be lowered is through the old eco
nomic law of supply and demand Tn
til the production OF apartment hous es
and dwellings meets the demand there
can be no appreciable decrease in rents.
1t was the goverproduction of apartment
houses in Manhattan, The Bronx and
Brooklyn in 1910 that brought about
that period OF low rents in 1912 which
New York flat dwellers now look back
upon as the good old days Those
were the days when the apartment
house agent humbly offered to redeco-
rate every room in the suite and give
the naughty tenant a receipt for from
one to three months rent free. Those
were the grand old days of "conccs-
sions." when to fill a newly built house
the agent or owner would do almost
anything within or without reason to
lure desirable&class of tenants into
his property A great boom in vacant
land and the extension OF rapid transit
into the northern reaches Of Manhattan
and The Bronx brought about that
overproduction of housing space. There
will not be anything like a return to
those days OF reasonable rents until
there has been something approaching
The New York herald., 1921-09-04
Gazing on OldGotham
After 5 Years Abroad
By THE ODD PARAGRAPHER.

He had been away from New York
five years--four years In the French
and American armies and the fifth year
on a well earned vacation touring Eu-
rope. Before he entered the French
army he had Heen real estate broker
In New York city. Tho writer listened
to his war experience with a great deal
OF interest and when he had finished
asked what impressed him most on his
return in New York.
THAT the city had changed SO little
In five long years." he answered quickly.
You know had seen some pretty rapid
changes In little old New York while fol-
lowing tho brokerage game but in the
last five years there doesn't seem to
have been any building activity worth
mentioning"
The writer remarked that construc-
tion had practically been at a stand
still for several years because OF con-
ditions brought on by the war-high
building costs, labor scarcity, &c.
II suppose" continued the former
broker ref1ectively, that accounts for
It, but a few years back / would not
have believed anything could check New
York's business growth In the process
OF nourishing the growing giant of COM
merce and industry this city has de-
stroyed many OF Its one-time leading
York the coming resolution was passed.
and this no doubt came as long de-
layed protector against further invasion
Of residence centres by the long arm Of
business
"TIow the zoning resolution is pro-
tecting home colonies impressed me
most when / revisited Washington
square. had expected to find the
square changed from residence to a
business district for although IL prob
ably Is the oldest home centre IL also Is
closest to the machinery OF commerce
and finance and. It seemed when left.
would shortly succumb to the northward
march of trade.
Instead find the section has taken
a new lease OF life. Dilapidated resi-
dences have been reconstructed. fronts
have been painted. and on the whole
the section looks better than at any
tinne within my memory. IL seems too
to have as many business mems homes
~ atudtos OF artists. men OF letters. &c.
i suppose New Yorkers have about
reached the limit OF endurance In car
and train travel and are glad again to
establish their homes within walking
distance of their offices"
Cinkers ms Bufldine Material.
In certain sections OF France there
has been resumed an industry. sus-
pended during the war. that has its
interest for householders as they con-
template the increasing cost OF a ton
Of coal and the proportion OF that ex-
pensfvo tom that remains In clinkers.
The New York herald., 1921-09-04

Regarding the unusual activity OF In
dividual dwelling builders in the East
Chester and Gun Hill road sections Of
The Bronx, Albert T.. Davis. former
president of the Board OF Trade and
the Bronx Chamber Of Commerce, says !:
Several factors have helped to make
this possible. Excessive rents, equal
TO the carrying charges OF homo owner
ship, exemption OF homes from taxation
provided construction be commenced be-
fore April /, 1922, and to the extent OF
$4,000 per family; the wonderful work
OF Joseph p. Day in bringing about the
subdivision OF large estates. enabling
people of moderate means to acquire
lots at few hundred dollars apiece. and
then forming neighborhood associations
to encourage them to build; the financial
aid accorded by such institutions as the
Franklin Society. the Fundy Company
and various building and loan societies.
and last. but not least the aid In his
official capacity of superintendent Re-
vile OF the Bronx Bureau OF Buildings.
Mr.. Reville is practical builder and
man OF good sense.
The New York herald., 1921-09-04
100 white rla,n. Lots to Ne soId.

White Plains. the county seat OF West
chester county. which Is only thirty-eight
minutes by express service from the
Grand Central Terminal. is to be the
scene of an auction sale that should be
OF special interest to home seekers.
Chauncey b. Griffen & Co., auctioneers,
will sell 100 building plots at White
Plains Highlands on Grsndview. Long
view, Davis. Lexington and Smith ave-
nues In section where forty-six houses
have already been srected on the prop
erty. The sale will be held on the
premises at O'CLOCK. on Saturday.
September 10. fain or shine, under a
The New York herald., 1921-09-04
Laaa a Nieh0s. Max. Firm cnanr.

The New YorkAofice OF Ladd q Mich
OILS has been turned over as separate
corporation to Cones ]. Coo of No. s
East Tenth street. and Southampton.
l.. l.. and Sydney n Brewster of 6s5
Park avenue. Mr.. Toe was formerly
with the Brown. wheelock Company,
Inc, and has been with. Ladd & Nichols
for the past year. Mr.. Brewster re-
Gently entered the firm. The business
has been moved from rs East Fifty
fourth street to . East Forty-eixth
street. where 1t will be continued on an
enlarged scale. specializing as before in
Long Island. North Shore. westchester
county and New York city properties in
the Forty-second street and upper East
Side districtn.
The New York herald., 1921-09-04

WALK UP APARTMENTS ARE THE
PREDOMINANT FORM Of CONSTRUCTION
IN THE BRONX BUILDING CAMPAIGN.
THE TYPICAL HOUSES SHOWN ABOVE
WE'RE DESIGNED BY CHARLES kREYMBORG
WHO IS SAID to HAVE DRAWN THE
PLANS FOR AT LEAST HALF OFALL THE
APARTMENT PROJECTS LAUNCHED IN
THE BOROUGH SINCE JANUARY.
The New York herald., 1921-09-04
Housing Project for Queens.
brooklyn Market News.

Realty Associates sold 10 r. Hoffman
through John Deterling. broker, new
brick. seml-detached two-family house
with private garage at 276 Sullivan
street between Nostrand and Rogers
avenues.
Clinton Trading Corporation sold to
The New York herald., 1921-09-04

San Salvador Knights OF Columbus
Building Association has acquired Old
Pilgrim Church property at the north
east corner OF Madison avenue and 121st
street. the sale OF which to Robert Blake
was reported recently. The registered
deed shows that SS5.0O0 was paid for
the property, which fronts rs feet on
the avenue and 1926 feet on the street.