davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-07-30

/" HE Commissioners of the Sink
ing Fund and Comptroller Charles
L. Craig arc preparing to put an
end to the complaint that New York
city was piiing up large obligations
against itself by carrying on its, books
millions of dollars worth Of real estate
for which the city had no use and from
which little income and no taxes were
derived. The city officials are prepar-
ing TO make these properties productive
by placing oo2 OF them on the auction
block at a series OF sales which is to
start on August and continue until the
2sth.
Real estate In every borough will be
included in the sale and five OF the best
known auctioneers in the city. headed
by Joseph, p. Day, will keep up q run
ming fire OF selling until the last parcel
has been knocked down to the highest
bidder.
Only 10 per cent. OF the amount Of the
purchase price will be required on the
day of the sale plus the auctioneers'
fees. Within twenty days buyers will
be required to pay an amount equal to
only Is per cent <of the purchase price
In order to get Deeds In other. words.
the Comptroller is asking the people of
New York to pay only one-duarter OF
the purchase price Of the properties in
order to get possession OF them. The
remaining rs per cent. may remain on
mortgage for five years at the rate OF
per cent. interest.
Oner Low Interest Rate.
.rt is matter of record" the Comp
troller said yesterday, "that the city OF
New York is able to borrow. all the
money It wants at less than per cent
I know of no good reason why the citi-
zens of New York should pay more than
per cent. on these purchase money
mortgages.
.'There is also to be considered the
fact that Government bonds are now on
less than a a per cent. basis, while some
state bonds yield only $50 per cent al
present prices. In my opinion per
cent. rate on a real estate mortgage ls
In line with current conditions"
The Comptroller said that the. hnanclal
arrangements pertaining to the great
auction sale had been determined upon
for several reasons. perhaps the most
important Of which Is that he desires
to give the same opportunity In this sale
to the men whose capital is limited as
the men will have with greater means
The properties to be put on sale belong
to all the people and 1t Is the Comp
The New York herald., 1922-07-30
hv. Room, Sum

~ tors are now being used In apart
ment houses in New York. and
their adoption. aside from being novelty
in the metropolis. is going to bring some
sharp changes in apartment house con-
struction. BY their means, long wide
halls leading from various parts OF the
structures to the main elevators. which
have been necessary In the old style
apartments, will be eliminated. and
aside from the monetary saving In COM
struction, the wasted space Is added to
the suites. enabling the architects to give
larger rooms for the tenants.
Strange to say. New York city has
been slow to adopt the automatic ele-
vator in apartment houses. Until re-
Gently its use except in private dwellings.
was forbidden by the tenement house
department. Other cities, as Boston,
Philadelphia and Washington. have been
ps<hg them in multi-family house con-
struction for several years.
There Is now going on at jackson
Heights. In the Borough of Queens, the
largest automatic button elevator in
stallation in apartment houses that there
Is in the United States. Buildings COM
which are costing upward of iS5,O00.000
are being completed and all of them
will be equipped with the automatic
push button. elevators.
That type of elevator which Is oper-
sted by the user and requires no attend
ant solves the problem of elevator SER
vice for people of moderate means who
are unable to pay the high rents obtain
ing where there are elevator attendants.
Besides the saving In money. due to not
having an attendant. there is very often
an Improvement In the service, as'every
tenant becomes his own elevator oper-
ator and does not have to put up with
that poor service that Is often furnished
by an attendant.
The mechanism of these elevators has
been so perfected by the leading COM
panies manufacturing them that they
are as nearly fool proof as it possible to
make anything. 1t Is impossible to en-
ter the elevator until it comes to
stop and it is impossible to move the
elevator long as the door is open.
Consequently all injuries due to enter
ing and leaving a moving elevator are
entirely overcome.
Occupants of the building become ac-
customed to operating these elevators
and their installation cost Is reasonable,
both in the space occupied In the build
The New York herald., 1922-07-30
latic Elevators Will Save Space In-t1alls

builders in Manhattan have considered
that the nine story building on the
ordinary sized plot Is the most economic
cal for elevator service in which an at
.endant is used. Several years ago on
Washington Heights some six story
buildings were constructed on very large
plots Of .land---in some cases $50 to zoo
feet square. The idea In those cases
was to accommodate as mapy families
an elevator as could be put In nine
story building.
Such a form of construction resulted
in long halls on every floor to reach the
various apartments. which added enor-
mously to the cubage OF the building
and, therefore. to its cost. particularly
as those halls. owing to their tiled floors,
were more expensive than the same area
devoted to rooms. At jackson Heights
an automatic elevator is Installed for
The New York herald., 1922-07-30
CITY WILL SELL OFF
MUCH OF ITS REALTY
202 Parcels /. in All Boroughs TO-
Be Offered on Auction Block
During August

troller's desire that all the people shall
have a chance to bid for them.
Another interesting feature in this sale
will be the full covenant and warranty
deed which the city will give to all pur-s
chasers. Such a deed Is backed by the
bond, OF the city itself. 1t carries with
it the highest possible guarantees: but
the Comptroller has not stopped there
II by any possibility a defect In the title
conveyed should be found in. any case
the city will return the purchase price
with interest at 6 per cent. and pay
the costs OF reasonable counsel fee in
addition. ,NWf
Sales Arouse Much Interest.
1t is many years since New York has
been so interested in real estate as Il
became following the announcement OF.
the Comptroller that he intended to sell =
the city's surplus properties, for they
include realty In every borough which
would have been purchased and i'm
proved long ago IL the city had had
the power to sell to those who wished
to buy. Some OF the properties, like old
firehouses, police stations and school :
buildings, are so well located and so
well built that they lend themselves ex-
cepttonally well to alteration into indus
trial and commercial structures. Others
OtCupy SlIcS WHlIu cAOQlQ D6 l4upEONCO
at once with fine modern buildings to
keep pace with surrounding develop
merits In the outlying territories there
are many properties which are so well
located that they would have been i'm
proved years ago II they had been in
private ownership. At the prices which
the. city will accept for them they rep
resent some of the finest investment
opportunities offered In many years,
and the Comptroller is not alone
in the. belief that this sale will be fol-
lowed by a building movement that will
add largely to the available supply OF
residential and business buildings.
In order that prospective buyers may
have every opportunity to inspect and
examine the various properties to be
sold. there has been prepared for gem
eral distribution an illustrated cata-
logue containing the terms and condt-
tions Of sale and full description OF
each parcel. This catalogue may be-
had upon application to Augustus j.
Rim. Department Of Real Estate, Room
1888, Department Of Finance. Municipal
Building, Manhattan. or the auc-s
tioneers. Joseph p. Day. Inc. 81 Liberty
street, Manhattan; Henry Brady, 139a
West Thirty-third street. Manhattan:
Samuel Marx. liz West Twenty-third
street, Manhattan; Thomas A. Hoven- ;
den of the Chauncey Real Estate Com 9
pany. 1877 Montague street. Brooklyn.
and Theodore Archer. 10 New York ave-
nue.. Jamaica. i
The New York herald., 1922-07-30
MISUNDERSTANDING SALES.

Within the last few weeks the Flush.
Ing department OF 0. Brammer, Jr., a
Co. has sold for the Rickert Brown
Realty Company the following plots in
the section OF Broadway, Flushing: To-
Olaf Waring. chief chemist of the Ameri-
can Druggist Syndicate. residing at .
156 Eleventh street, Long Island City.
plot 60x100 on Hath street. between
Broadway and State street; TO Fred
Schnell of 305 Theodore street, Long
Island City. plot, 600x100. between state /,
street and Mitchell avenue to Fred W
Bruch OF 934 Tenth avenue. Long Island,
City, plot, 60x100. on Seventeenth street,
between Mitchell avenue and State street,
The New York herald., 1922-07-30

ing $4,000 on buildings being erected
by the Annapolis Construction Com
pany In Corona. Three loans totaling
$4,000 on buildings being erected In
Jamaica for the Dofner & Etish Con-
struction Company. Two loans totaling
$1,000 on a building being erected in
Woodhaven for Frank w. Seeley. Philip
Kneer has purchased from Mr. Gretschel.
plot 30x9s, on the east side OF Twelfth
avenue, 40 feet south OF Wilson avenue
Astoria. Mr.. Kneer at the present time
Is erecting a theater at the corner OF
Third avenue and Broadway. Long
Island City.
The New York herald., 1922-07-30

East 10Sth street, 16.9x100.
Tiffany studios Lease.
The Tiffany Studios. which have been
located on Madison avenue north Of
42d street for a number of years, have
leased the corner store and basement
25yS5. in the building which Webb &c
Knapp are to have completed in De-
cember. at the northeast corner of
Madison avenue and Forty-sixth street.
The firm will have an entrance on
Madison avenue and four large show
windows on the first floor. The lease
involves 1900 net square feet. The
deal was negotiated through Douglas
L. Gilman x Co.
Furniture Co. I'm Lease.
Maurice Greanstein furniture manu-
facturer. lease the ten-story structure
now occupied by Ludwig Baumann &
Co., at $50 to 266 West Thirty-sixth
street, near Eighth avenue, for twenty
one years at an aggregate rental OF
about $4,000. II has a frontage OF
1877 feet. The lease was made by the
owners OF the property. the s. NJ. B.
Realty Company, and occupancy will
be taken when the Ludwig Bamnann
firm moves into its new building now
tylifth to Thirty-sixth street Green
baum, Wolf & Ernst represented the
S. NJ. B. Realty Corporation as attor-
reys, and Mr. Greenstein was repre-
sented by the firm of Jonas & Neu-
burger.
miscellaneous Leases.
]. p. & l.. A. Kisslins leased for the
Blum estate for twenty-one years the
four story and basement building s75
Eighth avenue, 25x75. and sublet store
and basement for ten years to William
E. Taubkin. who has been located on
the block for fifteen years and will use
the premises for stationery and printing.
The same brokers leased building SAL
West Fifty-second street to Fredericks
OIL Company for five years: 253 West
Fifty-fifth street to Frank Purlato, res
taurant; loft in sol and 500 Third ave-
nue. to the De Paul Furniture Company
for two and half years and an apart
ment in 25s West Fifty-fifth street to
Frank Mayors.
store and basement In East Fifty-third
street to the Charles H. Totty Company
of Madison, N. j.. growers, wholesale
and retail florists. and In connection
with Butler & Baldwin also rented floor
in the same building to Bacon & Co. of
Boston and New York. interior decora-
tors
Residential Rentals.
Brown Wheelock-Harri vought G
Co. leased apartments in 258 Riverside
Drive to DR.. Hyatt Lyke. VIM. Warfield
and William Rohe: in 23 East Sixty
fifth street to Philip Blagden. in 22 East
Forty-eighth street to e. NJ. Mccullough,
In 67 East Fifty-third street to z. r.
Smith and L. II. Raymond
Bronx transactions.
The Bronx K. c. Home Association
purchased from the Haffen Realty Com
pany the two two story dwellings on
plot 100x100 at the southwest corner OF
Courtlandt avenue and 153d street.
Bertha Bowden sold to Jennie Kahn
the two story dwelling. 25x100. at SAT
Manida street:
Shaw, Rockwell & Sanford sold for
Hannah NJ. Andrew Brice the plot 112x
102x irregular at the southeast corner
of Boston road and 172d steet to an
operator.
Catherine Morris sold to Louisa La
neri 1888 Decatur avenue. a property,
25x100.
Joseph Nasanowitz sold 2o7S Boston
road. a three story building. 26x100. for
Donhec Itinlo- to Frederick Schwartz,
who will alter
The New York herald., 1922-07-30

East 177th street. opposite the Coster
estate. Bruce Brown and Turnbull es-
tates
Another sign of the quick development
of Throg's Neck Is the opening recently
OF Great Atlantic and Pacific Tea
Company store and several other stores
In the same vicinity. 1t Is only a ques-
tion OF short time when the last OF the
few remaining large Throg's Neck
estates will have been sold nt auction.
Already. in fact, the building move
ment has carried the tide OF population
to point well beyond Dewey avenue,
where East Tremont avenue is crossed
by East 177th street. That junction
point promises to be an important hub
of the future, as II is here that the East
177th street and East fremont avenue
car lines will meet IL, as contemplated,
they are extended eventually to the
Long Island Sound and East River
waterfront
The New York herald., 1922-07-30
BROKER IN ELMHURST
FINDS MARKET ACTIVE
Reports $27O,O0O Worth of
Sales Recently.

Edward j. Dempsey Of Elmhurst has
transacted recently realty deals amount
ing to $750.o00 In the Jackson Heights
district. His first sale was the ten lots
on the north side of Roosevelt avenue,
The New York herald., 1922-07-30

from Twenty-fifth to Twenty-sixth
street which he sold to Samuel Tep-
litz. builder and promoter. of Brooklyn.
who is constructing ten stores. with one
family above. Six of these are now
sold. including the corner Of Twenty
sixth street, which was purchased by the
Durant Motor Car Company. which Will
use same for a showroom, under the
L. I.
Mr.. Dempsey also sold to William
Yeandel, builder, of Woodside. l.. L.,
who recently completed a number Of
buildings in Elmhurst and Richmond
The New York herald., 1922-07-30

Aside from the actual advantages OF
Throg's Neck and the appeal Of the
waterfront to home seekers the tax
exemption law has been a great incen-
tive to prompt building. The extension
Of this law last year TO April, 1923. has
served to stimulate the building move
ment and doubtless will induce hundreds
Of other thrifty families to begin the
erection OF homes or bungalows before
April, 1928, and the passing Of this
opportunity to save more than $1,000
In taxes In the next nine years. or>prlor
to the expiration OF the law on April /.
1892.
With the sale and development OF the
estates on Throg's Neck there will re-
main but little Long Island Sound and
East River water frontage in the
Borough OF Bronx. city or New York,
available for Improvement with bunga-
lows and homes Of moderate value.
The New York herald., 1922-07-30
NevN pevELoPknENr oN BRUCE BROWN EsrArE, BRorl><

A MIENT Colonial estates and man
~ sions that formerly graced Throg's
Neck in the Bronx are now almost
completely surrounded and hidden
from public view by scores, even hum
dreds. OF all the year homes and bunsa-
lows Of every description erected there
since the autumn OF 1920 when tho his
toric pre-Rcvolutonary period tract
known as the Coster estate was dis
tributed among home seekers through
public auction. This was the begin
ming of a long series of sales that have
since opened up to tho public the Bruce
Brown, the Turnbull, the Brinsmade.
the Wissmann and the Hoffman Park
estates.
From East fremont avenue. north 10
Long Island Sound. and south 20 nth
street and the East River. the scene to-
day Is one OF almost constant homo
The New York herald., 1922-07-30
NEW GARDEN CITY PROJECT.
Builders Plan Big Structure or
franklin Avenue.

wilmot Y. Hallecls and Edwin w.
Weeks have purchased from the Garden
.City Company a plot fronting rs feet on
Franklin avenue opposite the Nassau
County Court House and will erect a
modern building of three stories in
tended for the use OF lawyers, title COM
panies, &C.
The structure will be of Philadelphia
brick and of attractive Colonial design
and will be ready for occupancy In the
early winter. Much of the space has
already been rented. The plans were
prepared by Arthur .B. Wood of Garden
City.
The New York herald., 1922-07-30
GARDEN APARTMENTS

ings and in the first cost of the equip
ment. The consumption OF power and
cperatlng expense as determined from
records of use in Cambridge, Mass. and
other places In this country where they
have been in operation for several years
is unbelievably small, and, therefore. the
operating cost of the buildings Is in
creased very slightly by their use. This
means that buildings can be rented for
very little more than prevailing rents
The New York herald., 1922-07-30

Hill, twenty-three lots on the west side
of Polk avenue. 100 feet north of Roose-
velt avenue. who will erect a number OF
two family houses.
Gustivus. l.. Kempf. a builder of Dlm-
hurst. purchased through Mr.. Dempsey
eleven lots on Polk avenue. opposite to
those Of Mr.. Yandel. and will build
rumber of ono family. all improved
houses.
The New York herald., 1922-07-30
JACKSON HEIGHTS

in walk-ups in so far as the cost Of
service is concerned and for a tenant
owner on a cooperative plan. such as
is obtained at Jackson Heights, the in
crease in his share Of the maintenance
cost Of the buildings Is negligible SO far
as elevator service in concerned.
Because Of the comparative cheap
ness of installing the automatic ele-
vator, 1t Is economical to use several
elevators In a building. Apartment
The New York herald., 1922-07-30
Progress Of Everything
But Rent Pleased Tenants
BY THE ODD PARAGRAPHER.

seekers. but 1t will hardly surprise
realty experts.
When the Metropolitan first an
nounced its plan for the construction
of s100,0o0.00o worth of multi family
houses, in which the rent was not to
exceed 80 a room, certain well informed
real estate men and builders stamped
the project as impracticable under pres
ent conditions. Some doubted that the
scheme would ever get beyond the
paper stage. After the Legislature In
dorsed It, certain builder who was
asked II he considered the undertaking
impracticabie from an economic stand
point, replied with a knowing wink. 1T
makes interesting reading"
Easing Taxpayers Burden.
Those who shoulder the city's finan-
cial burdens are taking a keen interest
in the forthcoming auction sale of ap-
proximately s2.5c0.00o worth OF unused
municipal realty holdings. including old
fire houses, police stations, undevel-
oped sites bought for city improve
ments and unused school sites. The
sales will give the city the much needed
use of at least portion of the prin-
cipal invested and. by placing several
of the parcels back into private owner
ship. will increase the municipality g
taxables. In private ownership, all
real estate pays its proportionate share
OF the tax burden. Under city control,
II yields nothing Property In private
hands that is modernized and occupied.
however. adds to the value of adjacent
real estate.
The sales are bound to be successful
from the taxpayers point OF view, for
every parcel sold will make his bur-
den just that much lighter.
IL May Interest You to Know That
During the five years, 1915 TO 1920.
Americans were burning up property
AT the rate OF $685.. .544,535 a year. accord
Ing to the National Board of Fire I'm
derwrlters. which has made study
OF moro than 100000 fires during that
time. The total loss for the period
1877. .722, ,667-would be sufficient to build
1000 dwellings for 5000 each-enough
housing TO care for 100000 persons.
or the equivalent to the combined popu-
lations OF Connecticut. Nevada and
Wyoming.
or every dollar spent in residence
construction. S6.i cents is spent for
masonry, 291 cents for carpentry, 81
cents for heating. 6.5 cents for painting,
q cents for electrical work. the same
amount for Plumbing, 3.5 cents for sheet
metal work, 20 cents for roofing and
1.2 cents for hardware. declares Arcbt-
lecture and Budding,
A survey Just completed by the Cop
per and Brass Research Association
shows that the aggregate annual repair
bill OF home owners in this country will
amount this year to $40 100 for one
item alone-the replacement of rusted
sheet metal work, including leaders
and cutters. valleys and Hastings II Is
estimated that there are in use In this
country 5.175.00o.000 feet of leaders and
cutters and that about 1000, 100000 feet
are renewed annually.
The New York herald., 1922-07-30

YF any one doubts that the tenant
still has the upper hand in rent
disputes let him read on. Inc
owner of a three family model nat III
Rrooklyn. who rented apartments OF six
rooms and bath for s2S-fess than IS
room-asked his tenants II they would
like to have steam heat and electrc
light as added conveniences. All an
swered In the affirmative.
The owner had not increased the rent
in three years, but made clear that ne
would expect his tenants TO help derray
the cost OF the proposed improvements
by paying a reasonable increase In rent.
The tenants all agreed ana the improve
ments were made.
THE cost was $1700 In due time the
owner asked a rental OF sS-moderate
enough as rentals go-but the tenants
chirped try to get it. Court action
became necessary. The owner presented
his bill Of particulars. feeling confident
that his claim would be upheld. The
court allowed him less than 81 room
Increase and the tenants continue in
possession of six room apartments hav-
ing so-called modern improvements at
the rate of $3.50 a room. The entire
rental yielded by the house for the next
year and half will barely cover the
cost of making the improvements.
Dwarfs Skyscrapcr Homes.
Not so long ago a writer in one OF the
local dailies. In referring to the apart
ment OF the late r. W. Woolworth at
the top of the woolworth Building.
called It one of the loftiest homes In the
world To the average person that
sounds like fairly conservative state
ment. The Woolworth stretches Its
head so much higher than any other
building I'm this country that one might
he excused for jumping to conclusions
In this case.
Now II any one were TO tell you
that the highest inhabited house In
the world Is about twenty times taller
than the Woolworth building, what
would you say? We don't blame you
for having your doubts but II seems
to be true. w. Harecourt Bath. an
Englishman. makes the claim In the
Nature Magazine on behalf OF house
situated on the summit of the Donkia
Pas. In the north Of Skbin CTibeD.
II is q stone hovei. occupied by
Tibetan guard or outpost of four or
five men. The height is said TO ex-
coed 1900 feet. The hovel, however,
In occupied only few weeks in the
height OF the summer. In the Andes.
wnere Peruvian shepherds live. there
is said TO be q hut occupied the year
round at height OF 1900 feet.
And TO think we New Workers. have
been boasting about sSyscraper resi-
dances7
The New York herald., 1922-07-30
now About Those so Apartments 2

The Metropolitan Life Insurance
Company announced last week that II
would not consider inaugurating itH
great apartment building campaign,
made possible under the enabling act
passed by tho last Legislature, until
briok prices and other conditions should
have become more favorable. That
nows may bc disappointing to home
The New York herald., 1922-07-30
LOANS PLACED IN QUEENS.

A. J. Gretschel, operator of Long
Island City. has placed FIVE loans total
The New York herald., 1922-07-30
LATE NEWS OF BOTH
BUYERS AND BROKERS
Hotel Gramercy at Lexington Avenue
and 24th Street Leased---Gas
Company a Seller.
Tiffany studios Lease.

Mancini the four story dwelling at 163
East 10Sth street. 16.9x100.