The New York herald., 1921-04-20
FLAT ANDDWELLING
MARKET VIGOROUS
Suffers No Visible Reaction
From Supreme Courts Rent
Law Decision.

trading In residential property was DrisK
. yesterday in spite OF the depressing news
| from Washington, d. C., to the effect
. that the highest court in the land had
upheld the validity of the rent laws.
Still more surprising was the fact that
| in practically all other respects the mar
ket was comparatively feeble. Leases.
for example, fell from the leading posi-
ton which they have been occupying in
the daily real estate news for the last
few months. Suburban trading was like
wise meagre and featureless. Business
properties went begging for investors In
spite of the fact that they swung Into
popularity Immediately after the rent
laws went into effect.
The natural assumption was, of course,
that the Supreme Courts decision would
immediately react upon the buying and
selling of flats. tenements and all other
forms of multifamiy housing, and its
| failure to do so is ascribed by some to
the fact that the disastrous significance
Ifof the decision has not been fullys
grasped. Others--and they may be num-
bered among the more belligerent antag-
onists of the rent egislation-maintain
that the legal battle is not lost as yet.
and until it is investors will continue to
take chance on the property covered
by the laws.
N>tOitT HeduS lIisiSl thai ehC AdsSSA ~
sition is scarcely tenable and that the
rent laws have come to stay. They have
their own theory to account for the
illogical activity in the market yester-
day They believe that the raggedness
prevailing in the market was due to the
uncertainty of the outcome of the rent
law battle in the courts. With this re-
moved, they maintain, the market Will
readjust itself to the new conditions even
l,a lac 70 h1o than
real estate men desired. To sum up
their position, they are exponents of the
doctrine that bad certainty is less
disastrous than dubious uncertainty.
Apartment House Deals.
O'Reilly & Dahn sold for the Klamar
Realty Co. 25 to 33 Fort Washington
avenue, southeast corner Of 160th street,
six story apartment house. 132x78x
irregular. The property was held at
$275,000.
Sender Frankel and Jacob Feldstein
bought from the Heroic Realty Company
the Ave story apartment house at 514
|'and 516 West 10th street, between
Audubon and st. Nicholas avenues. Bit
terman & Hecht were attorneys for the
purchaser.
John r. & Oscar L. Foley sold for
the Central Union Trust Company 1914.
1246 and 124S Madison avenue. adjoining
tho southwest corner Of Ninetieth street.
three Ave story single fats. 60.SxS7.6, to
Thomas E. Mclaughlin.
Charles S. Kohler. Inc, sold for N. j.
Block COS West 204th street, five story
new law apartment, 45x100, renting for
$4,000 per annum and held at $4,000.
Frank b. fIaubert and Edward c. Fl.
Vogler sold for Mary r. Duncan the five
story apartment house, 27x100, at 643
Amsterdam avenue.
Charles w. Wynne and Louis II. Low
sold to client OF p. II. Roberts the
southwest corner of 117th street and
Eighth avenue, 1--WE story apartment
with stores, 25x100. The sellers recently
acquired this property from the Forster
estate.
There was formed at Albany yesterday
the 221 First Avenue Corporation, with
III. Rubin. e. Friedman and ]. Sanacory
as directors. At 225 and 227 First ave-
nue. are two four story tenements. each
20xS0. owned by the Thames Building
and Contracting Company.
Oscar D. & Herbert V. Dixie sold for
L. Walter Biting to client 556 and 55s
West 1S5th street. a ive story new law
apartment, 50x79.11.
Douglas L. Gilman & Co. sold CO.
operative apartment in 2s0 Park avenue
for about $751; 900 to II. N. Slater.
In the Dwelling Market.
The Clark estate sold through the
Brown. Wheelock Company, Inc. the
four story dwelling at 15A West Sew
enty-third street. 226xi02.2. This is
the seventy-frst property sold by the
same brokers for the Clark estate dur
ing the past fifteen months.
r. c. Potter OF Wood. Dolson Com
pany sold for Mrs II. Fried. the four
story dwelling at ~ West s7th street.
Theodore Long, attorney, represented
the seller
The three story dwelling at lat East
Fifty-first street, 16.9x75.5, near Lex
ington avenue. has ben purchased by
f. Burrell Hoffman, Jr. and Murray
hoffman from the Holland estate. The
property was held at $4,000 and will
he rebuilt in Offices with apartments
Sbove.
TIC Broededge Corporation bought
from Alfred Roelker the four story
dwelling at 20 West Eighty-seventh
street, 20xi00.s. near Columbus ave-
nue..
Dun Conger. Inc, sold for the
estate OF Henry II. Taylor, the three
story dwelling at 1875 Madison avenue,
a. client OF the Cross & Brown Com
pany.
Samuel A. Kelsey resold for James
T.. Van SAINT, 307 West 136th street.
"
chased through Folsom Brothers. Inc,
90 Mary +. Lane.
.. r.. Strakosch sold for Margaret De
Vito the three story dwelling at 502
East Eighty-seventh street to Alcxan-
der Fuchs
Leroy Coventry rented the four story
residence at 1f5 West Seventieth street
for term OF i've years.
shuberts Lease Theatre Outlet.
J. q. Dnglish leased for Leonard L.
HUI TO Lee g. j. J. Shubert the plot
at 23s West Fifticth street. 25x100. for
Jos years. The same brokes recently
leased the plot directly IN the rear of
this property. 22sx1o0. to the lessees.
who will erect theatre on the forty
ninth street plot. and win use the
Fifticth street property Ms an outlet
other Deals in Manhattan.
George Steinman. Inc. sold for Charles
Witzei az 2e0I Third avenue, southwest
corner OF f6ist street. q three story busi-
neTs building, 3sx12o. This In the FIRST
selling % this property In forty-eight
years The property was held mt $780,
coo.
j.. FInkelstein a Son sold for Anna
" MorIis the four story building at
40 Bowery. 2sxino. held ct $4,000
Ss.er alterations the purchaser will oc-
cupy it for hts business.
Derr. Revealed On Transfers.