davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-01-15
soOTH S1EE1 % M - -. HVEh eao,

type OF building, which will offer rentals
OF from $40 to SIS a room, the houses
must be built on cheaper land. these
observers say. The cheaper land lies
to the east and north. which makes
these sections the logical field for the
next construction boom.
J. Clarence Davies, who has bes !
watching The Bronx grow for forty
years, is one of those who entertains
this conviction. Mr.. Davies told rep
resentative Of THE NEW YORK HERALD
yesterday that there has been n sharp
rise In land values in the West Bronx
In consequence OF the active bidding for
ape rtment house sites. This together
with the high price. OF building materials
has made the production of these houses
costly.
II think that the peak OF the demand
for these $25 room houses has passed,
said Mr.. Davies. "The people are de-
rnanding cheaper rents and | think that
the builders will begin this year TO try
to supply that demand. The opportunity
for them lies along the White Plains
avenue subway line and the Pelham
Bay Park extension. There has already
been a noticeable building boom under
way along Southern Boulevard in rho
vicinity of 150th street and this will, In
my opinion, spread rapidly northward.
There will be a marked popularity OF
dwelling construction in the East Bronx
this year and believe that the apart
ment house builder will be getting in
his Iicks in the open spaces before the
end of the year"
The New York herald., 1922-01-15
DECORATORS LEASE
IN 5TH AVE. TOWER
Take Eighth Floor of Heck
scher Building at 57th st.
for Ten Years.

Tie entire eighth floor OF the new
twenty-five story Heckschor Building. az
Fifth avenue and Fifty-seventh street
has been leased to Stroheim & Romann.
irterio- decorators and wholesalers or
upholstery and decorative fabrics. The
lease S. for ten years md involves an
area OF about i5.cc0 square feet at a
reported rental OF $500 a year. Cusi-
man & Wakefield were the brokers. The
space has frontage OF 162 feet on
rifty-sevcnth street and 100 feet ON
Fifth avenue. Tho firm has been IN
business a. es2-s50 Fourth avenue since
1866. II conmentin. on the lease from q
real estate standpoint y. Ciycesdais
Cuahman. president OF Cushman a.
Wakefield. Inc, said:
"Whlo this move on the part or Stro-
helm & Romann appears daring.
prophesy Il Is merely forerunner or
nnany others In the same trade, bas-
ing my opinion on tire present congested
condition OF the old upholstery district.
which conters around Fourth avenus
and Nineteenth street; also In viewing
the situation with knowledge o, other
prominent upholstery firms which are
now negotiating for large space In the
Ifeckschcr Building. and In light OF the
fact that Fifth avenue and Fifty-sev-
enth street is firmly ensconced as the
center OF dealers In objets dart. antiques
and OF decorators. the establiShment cf
new center OF the upholstery and
decorative trade IN the Ileckscher
Building seems both Inevitable AID Inn
mineut"
The New York herald., 1922-01-15

Julian kovacs, operator and builder,
purchased from the Patterson estate
plot of "a lots, comprising the block
front on the east side of the Grand
Boulevard and Concourse, having n 312-
foot frontage; the block front on the
north side of Kingsbridge road, having
more than 32e feet frontage, and the
block front on the west side Of Valentine
avenue. having n 313-foot frontage.
Armstrong Brothers were tie brokers in
the transaction. The property had been
in the possession Of the Patterson fam
lily for more than half q century.
Mr.. Kovacs intends 10 improve the
corner of the Grand Boulevard and
kingsbridge road with n 12-story Gle
vator apartment house of the most
modern type, which win have a front
age of 2l2 feet on the Grand Boulevard
and 212 feet on Klngsbridge road This
building will accommodate 800 families,
and will be laid out in suites OF two,
three, four and five rooms The cost of
this operation is estimated at $4,000 600.
The site has an ideal location. being
situated opposite Poe Park and the
nine-story elevator apartment now be-
ing constructed by n prominent Bronx
builder, who has also purchased an ad-
ditional 235 feet for Improvement.
The balance Of the plot on the Grand
Boulevard and Concoursc and the plot
on Valentine avenue will be disposed OF
10 builders for apartment house sites
and the Kingsbrldge road site will be
The New York herald., 1922-01-15
BY JOSEPH II. DAY.

In my opinion 1872 will be a very ac-
tive one in the auction market. The
purchasing power is far from satisfied;
the demand far exceeds tho supply. The
purchasing of lots and small plots by
individuals who build dwellings will be
much TO alleviate the housing situation.
The auction market OF 1921 closed on
December 10, when I held the largest
auction sale ever conducted By any auc-
tloneer In this country--the selling OK
f.SgS dwellings and business buildings
comprising Yorkship and Morgan VIII
lagos, Camden, ". j., and Hartman
Bristol. Pa. This sale was held by order
OF the United States Shipping Board
Emergency Fleet Corporation. and the
total obtained was Sl.694, ,4i5.
The sale was q atupendous undertake
ing because Il involved the disposition
OF three entire villages which were
erected by the shipping Board as war
time necessities. II was a fitting climax
TO n most strenuous lot sale year.
Since last May I have sold about
1900 lots. located IN every section OF
New York city and the surrounding ter
-itory. In addition, ] sold from the auc-
lion DlOth aDOAL @s'WS hSN'-N'
auction offerings included every section
around the metropolitan zone-1danhat-
tam The Bronx, Brooklyn, Long island
citv. Nassau and westchester counties
and New Jersey.
The first important sale OF the year
was held last May. when ! disposed ol
1. 200 lots in Long Island City, owned oy
the Park Pendleton estate. for abou'
81 ,00O 600. and this sale was TOT
lowed ono week later when more than
I 900 lots. owned by the Bruce Brown
estate and located In the Throgs Nec'
section OF the Bronx, were sold TOT
splendid prices.
Several other important auction sales
we're held In the Throgs Neck secttci-
Involving the Turnbull estate, Brins
made estate. watson estate and others,
an aggregate involving several thousand
lots. The prices obtained at all these
saies were highly satisfactory TO the
sellers.
As the result Of the disposition Of these
large tracts. the entire section to-day
The New York herald., 1922-01-15
Year 1921 Made Auction History

auction sales at Long Beach, L. J.. at
which more than 5000 lots were sold To
individuals for o total aggregatinG
s2.9S4.00O. AS in the Throgs Neck
section. there is wonderful building
activity at Long Beach and the Increase
in population viii be very marked.
More than 1900 lots were auctionel
by me at Garden City Estates. l.. J.,
and IN this section a large number Of
dwellings are now In course or construc
tion and projected.
The largest sale of Improved proper
ties in Manhattan held during 1921 ir-
volved the Courtlandt Palmer estates,
which included the old Morton House,
.he old Keith Theator and an Office
building. situated at the southeast cor
ner OF Broadway and Fourteenth street.
This corner was sold for 81. 10000
which was far above the expectations of
the sellers. Since the auction sale the
property has been leased in it's entirety
at o figure which returns splendid IN
come TO the new owners of the land.
The total Of $i.s52.50O was obtained by
the estate for their properties.
Important among tho auction sales ot
s21 was the large lot sale held by me
for the James Gordon Bennett estate.
This Offering included about 1900 lots,
located in the Dunwoodie section OF
Yonkers These were sold 20 individual
homeseekers. many OF whom are now
erecting dwellings for their own occu-
pancy In Long Island City several
other important auction sales were held
by me In addition to the Park pcndie-
ton sale already mentioned. They in
cluded the Kennedy Collins tract large
holdings OF The John Collius estate.
I Einsteln estate and a large tract Of
vacant land In the Bowery Bay section
of Astoria.
a vast amount of interest was
/ srousod by the Offering of the estate Of
the late Charles y. Dickey. senior part.
ncr of Brown Brothers. bankers located
In the Hunts Point Square section. This
sale realized almost half million dol
lars. which was a far greater amount
than the preliminary estimates made
by the estate. Spectators. homeseckers
and builders were the purchasers. and
I look to see a large percentage OF this
vacant property improved with substan.
tial structures before another year
Iasses.
The New York herald., 1922-01-15

Despite tile fact that general busi-
1921 proved an active and successful
year in the real estate market in the
boroughs OF Brooklyn and Queens: but
1921 can hardly be called a year OF
achievement.
Building has been very active but
this building has been confined princi-
pally to the erection OF one and two
family houses. These types have been
ly rapidly at prices almost double what
they would have brought in prewar
times. A certain number of apartment
houses have been erected. noticeably In
the Eastern Parkway section OF Brook
lyn. A considerable number OF we'll To-
Gated vacant lots have been improved
by the erection of stores and other
business buildings. Very few factories
have been constructed.
Loans OF moderate size on both old
and new construction work were obtain
able during the year, provided the bor-
rowers would accept the amounts the
lenders offered. The large loaning COM
panies with the future in mind very
wisely and properly have kept down
these loans to q much lower percentage
OF value or cost than In normal times
Large loans were very difficult TO place
and in many instances most liberal
bonuses were being offered lenders
Toward the end OF the year this situa-
ton somewhat improved and several
large loans were negotiated.
In view OF the above and OF the high
cost of construction, il is apparent that
the builder OF to-day must have some
real money or else excellent credit with
his bank. The old type OF shocstrins
builder has been we'll nigh eliminated.
I The high regard In which MORTGAGES
are held by the general public as tht
safest Of all investments other than Sc
curitles OF the United States Govern
nent was strilsingly shown during the
year by the relatively excellent sales
record OF guaranteed mortgages despite
the fact that seasoned railroad and In
dustriai bonds, for part of the year a.
least, offered better return, and de-
spite the handicap OF the income ta'
law, for the investor OF large Income
with his surtax in mind, naturally dis
cards mortgages for tax exempt securi
ties
There has been during the year little
change for the better in the housini
situation As has been said. there ha'
been great deal OF new construction
but this is insufficient IN character an'
amount to take care OF what would haV'
been the increase In population unde'
normal conditions. Quite few highe
priced apartments are being ADVERTISED
for rent. but the wage Garner OF SINAI
means seems TO be up against II just 81
badly as ever. despite tho rosy promise
of tho rent law agitators, for there is
dearth of low priced apartments ant
flats. and as far as this situation is con
cerned there is no immediate prospect o
relief.
The volume OF now construction worl
and the incentive TO building prior q
April, 1929, by reason OF the tax ex
emption ordinance created an eXcellen
demand for we'll located vacant lan'
and prices realized both at auction an'
private sale were generally satisfactory
The auctions OF vacant land conducted
by Zero johnson Jr. Company durlni
the year were remarkably weil ATTENDED
and were most success sul from the view
The New York herald., 1922-01-15
BY
Buyer Of Big Bronx Plot
Will Put Up Tall Flat

sofa to builders for business improve
ment.
Armstrong Brothers have negotatious
pending for resale OF the balance OF
the plot to builders.
UPTOWN FLATS IN FAVOR.
The Norton. a five story apartment
house, 99.I1x20.6x irregular. at 47s
West l52d street. adjoining the north
cast corner Of Amsterdam avenue. has
been sold by the 251 West 129th street
Corporation 80 Jacob Geizler.
The two five story flats with stores.
74.l1xs5. NJ the southwest corner or
Seventh avenue and 130th street. have
been burght by the Frederick Green
Realty Company from Theresa Gold
smith. They were sold subject 70 mort
cages for 100000.
The Kiamesha, a seven story apart
n:ent house with stores. 33xl00. at the
northeast corner OF Lenox avenue and
11lth street, has been sold by the NJ.
& ]. Realty Company TO Annette Collier
and Becky stein.
The New York herald., 1922-01-15
How a Specialized Realty
Field Has Been Developed
ny CHARLES n. MERRITT,
ErecatJuo Secretary of Building Mona-
oeys and Otrreys Association

This Is the age Of specialization, ana
every line of business and every profess
sion has developed its specialists. The
real estate profession was therefore only
following the general tendency of the
times when 1t produced the building
manager. To-day cooperation produces
the best results, and the building mana
gers, like other business and profess
sional men, have banded themselves to-
gether in an association for mutual ben
eft and to assist in solving their vari-
GUS problems and establishing practices
beneficial to the profession. Thus they
work with the strength OF numbers be-
hind them.
The building Managers ana Owners
Association of New York was formed
In 1918 ito promote a fraternel spirit
of cooperation on the part OF It's MEM
bers." The association has been the
product of tho times, and as such Is q
necessity in the community. for Its work
is along lines not covered by any other
real estate organization. No matter
what the problem, It's members deter
mine the best solution after due consid-
Grafton and discussion with others OF
the same profession.
This year has been a very successful
one. As tho result OF membership
drive ia new members were added 10
our roll, which, together with those pre-
viously admitted, mako an increase
IN membership for the year OF Sc per
cent. This is most creditable and E,zesna
that those interested In building man
agement are fast rallying to a common
standard.
At our annual meeting seventeen
committee chairmen read reports COW
ering the work OF the past ycar. and
one could not but admire the unselfish
devotion to the association that pro-
duced the remarkable results OF these
several committees Space will not por-
NIT giving the results Of all tho COM
rnittees, but few should be mentioned
not because Of their special prominence
but to show the benefits derived by our
membership az the result OF tho work
OF these committees
The legislative committee reported
reading 3.o4o bills introduced in the New
York State Legislature: of these %!
were considered In detail, q approved
md 81 disapproved. The trade waste
and ash committee by its efforts pro-
duced considerable saving to the mem
bcrs in tho cost Of disposing OF ashe:
and waists paper. reducing the pric'
charged ON the former and increasing
the amount received for the latter.
The apartment house ccm'-1ittec bs
The New York herald., 1922-01-15

Its informal weekly iuncheonS and con-
ferences has created bond of friend
ship among the apartment managers
that permits the most intimate business
relations. The department orders com
mttee has been OF special help TO the
members during the past year, advising
them as to the proper procedure with
respect to various orders issued by the
several city and state departments.
The insurance committee by its advice
and instruction has been the means OF
saving considerable money to the MEM
bership. and by following its sugges-
tiohs better fire insurance protection
has resulted. Thus we might enumer-
ate zach committee, and In every case
| II would be necessary to give credit for
remarkable benefits derived By the
membership at large.
| In the near future we hope TO estab-
lish in the executive office certain rec
ords that will be available TO the mem
bers for their Information and instruc-
tion. Among the suggestions made for
ths department arc the establishment
OF a bureau of Information TO include
such subjects as elevators, boilers. build
ing construction, building Arrangement,
materials OF construction and materials
OF operation. such as coal, oil. soap. soap
powder, lubricating oil, cables. &c.
1t IL also planned TO make a compila-
| ton of the history OF buildings In Man.
haitian, giving dates of erection. archi-
tects and builders and other details. such
as size OF plot, number OF square feet
covered. height. square feet OF corridor
space, square feet OF rental area and
how figured, number OF elevators. help
employed. wages paid, service to ten
ants, service OF employees. operating
costs, &C., together with collection OF
photographs and prints of buildings
showing their exterior and interior.
Success in all endeavors means activ-
ity. and activity means success. These
words arc synonymous. You cannot
have one without the other, and II we
are Justly proud Of our achievements
during tho last year they have been due
entirely TO the fact that our active men,
bership has indeed been active. and nc
matter what may be said OF this or
ganization no one can say II Is dead OF
that the results are due to one man
Cooperation Is the keynote Of this as
sociation, and more and more the effect
of It's activities is being felt by the In
weston in real estate. Those connected
with the management of buildings are
taking a new viewpoint OF the situation
Suspicion and jealousy have disappeared
and only honorable business dealings are
} row countenanced.
The New York herald., 1922-01-15
Auction Prices
in 1921 Were Satisfactory
ny REMsEN JOHNSON.
President Of Jerc Johnson Jr. Co


point OF both owners and purchasers.
The large percentage of these lots upon
which buildings have been erected or
are now in course of construction IS
noteworthy.
In the older sections OF Brooklyn i'm
proved property held its own. In many
instances owners, however, are trying
to get Just little more" out of their
holdings than the buyers are willing to
give. At the various auction sales OF
improved properties held by Jcre John
son Jr. Company, where half a dozen
or more buildings were 20 be sold the
large auction room OF the Brooklyn
Real Estate Exchange would he crowded.
Where only two or three houses were
10 be sold the attendance would be ten
times greater than a few years ago.
The prices realized at these sales were
always good; sometimes they were sur
prising.
| During the year there was an in
creasing demand for business property
both new and old. Brooklyn and Queens
are developing a number OF important
local centers and well located business
stands In these centers offer great in
vestment possibilities.
The New York herald., 1922-01-15
NORTHEAST c,RNeR STREET ao cREsToN AVENUE.
EIVE Story VvHL K,if, BUILT j. THESIS.
ElVE. STORY W~IKIie BUILT ~ J.THE'ss.
Construction Tide Will Gather Even
Greater Force and Sweep Eastward,
Authorities Say---Acconnodations
for 56,l48 Persons Planned Dur
ing 1921, Records Show

ONE avenue subway extension. Accord
ing to Jules Nehring, broker, there was
phenomenal crop Of apartment houses
and private residences in that district
The private houses, he says, sold readily
and the apartment houses were quickly
occupied at rentals from SIS to $40
room, and in some houses as high as $50
a room. Three room apartments were
in great demand, this broker says.
Five story walkup apartment houses
were in vogue in the Jerome avenue SUBJ
way district. Mr.. Nehring is of the opin-
Ion that extra fireproof houses OF the
type that marks Riverside Drive should
characterize tho development of the
Concourse in order to Justify the nat
ural beauty and setting of that thor
onghfare, which trails north and south
along over the highest ridge of The
Bronx. One builder attempted this high
est class development with flatiron
apartment house. but his example was
not followed. according to Mr. Nehring.
Judging from the many sales during
1891 Of lots to builders and SPECTATORS
In this district" says Mr.. Nehring. "the
West Bronx should continue to witness
building activity during 1892. Archi-
tects, contractors and builders with
plans under their arms are now as Ia
miliar sight as they were back in 1910
and 1872"
A new current Of opinion has ap-
peared on this subject and that is that
the building activity will begin 20
mushroom during the year from the
West Bronx over through the central
and northern tier OF the borough into
the East Bronx along the lines of the
White Plains avenue subway and the
Pelham Bay p;.;k branch OF the Lex
frpton avenue subway. There has tccn
a nucleus of vacant land trading activ-
fly in these sections and not a iittl.
, building. Much of the dwelling con-
struction has been confined to the East
and North Bronx.
Some of the shrewdest observers point
out that the production OF high priced
apartment houses in tho West Bronx
has about reached the saturation point
and that the next building wave will
involve a more moderate priced class
OF building. In order to produce this
The New York herald., 1922-01-15

When the tenants millennium arrives
IN other words when there are enough
apartment houses in Greater New YORK
city to exceed the demand Tor living
space-a substantial share Of the credit
win be due to the speculative ouiders
v no sowed the bumper crop or multi
family houses in the West Bronx. The
records Of the Building Department IN
the northern borough bear ample testi-
r,sny to the fact that these pioneers
lave already done their best to prov!cs
orarters for the congested population.
Enough plans for new apartment
iouses and dwellings, of all kinds were
lied in The Bronx during 1921 to house
14.o37 families, or an the basis of four
% family, to shelter 5S,14s individuals.
some idea of tho increase over 1920
ray he gained from the fact that in the
rrevious year there was planned only
enough housing 10 shelter 1.6oS families
OF 6,432 individuals.
The plans for 1921 were divided as
rcllows: -.
Dwellings. 2,4si.
Tencments, 27I.
The dwelling plans alone would fur-
l;sh housing for S,3i9 families and the
.partment houses-or tenements as the
ruilding Department classifies all forms
Of multifamily structures-would put
roofs over the heads Of 1918 families.
Not all of the operations for whicr
r,ans we're filed with Building Superin'
endent z. j. Reville were put through
n, 1921. II is estimated, however. by
hat official that 20 tenement house.
ere completed during the past year ant
s2O dwellings were erected. Work was
started, however, on a considerable per
ccntage of the remainder OF building op
erations. as the report OF Superintenaen
pevilIe shows that on January 1, 1922
,here were under construction 166 apart
s.,ent houses and 1927 dwellings.
As has been said previously, much o
his activity was centered In the Wes
Bronx along the Concourse and the Jer
The New York herald., 1922-01-15
AUCTIONEER WILL SELL
GOVERNMENT PROPERTY

Bryan l.. Kennedy. inc, viii sell on
Monday az auction on the premises BY
order OF the Quartermastor-G General. L.
&. A.. for the War Department. all build
ings. equipment. improvements and ma
chjnery in yards and 3 az iae engineers
depot. Kearny tLincoln Highway. New
ark. n. J. Included in the sale are
number OF steel derricks with engines
and railroad tracks.
Dwelling Deal ON Grove street.
Pease & Gilman have sold the ~
foot three story dwelling at s Grove
street for Mrs. I. Maneonc to wilfred
Il. Anthony for occupancy.