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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jan 05, 1908
Page
15
The article notes a brighter real estate sentiment for 1908 with expectations of easier money conditions and a gradual market revival. It cites mortgage liquidity rising, possible rate declines, and looming legislative factors affecting subway funding, plus a flurry of West Side and Park Avenue transactions, foreclosures, and upcoming auctions.
Foreclosure sales dominate the week's auction listings with parcels along 211th Street Broadway 188th Street and more. Parcels include vacant lots two six story brick tenements and mixed-use buildings. Referees include Edward D Dowling Richard H Clarke and others with judgments ranging from about 2,271 to 90,026 dollars.
Amid bank closures, Brooklyn and Long Island real estate holds steadier as buyers shift funds from deposits to property. Transportation expansions linking Manhattan to Long Island spurred by bridges tunnels and rail projects are highlighted as key value drivers, with continued confidence in long term gains despite market tightening. The note lists numerous property transfers and mortgage figures across Manhattan and outer boroughs reflecting activity.
There were 178 mortgages recorded last week totaling $3,820,268 with 95 loans at 6 percent for $533,812 and 22 at 5 percent for $632,050. Other 24 loans totaled $563,250 at 5 percent and 4 loans for $1,154,506 at 412 percent.
In 1907 auction prices for Manhattan estates and suburban blocks rose with strong demand despite tight credit. Notable sales included Townsend Underhill Doherty Keane and Hidebrand estates in central Manhattan, the Moser estate, Kneeland estate near Yonkers, and Albert J Adams holdings, all fetching prices above appraisals. Experts note private sales would struggle more, but auction activity remains robust as lenders resume funding and confidence returns. BRYAN L. L KENNELLY.
Listings show multiple projects on Path Street to West 211, Barrow Street, and Commerce Street including a three story brick garage at 207 to 211 West with owner P C Long and architect C B Brun costing 25000, plus six story brick lofts at 49th Street with J P Knight costing 50000, six story brick flats on Barrow and Commerce Streets costing 70000, and several other brick dwelling and factory builds with architect and owner details and varying costs.
Saturday notes list multiple property trades and mortgages. Transactions include Richard A. Reinisch to Edward Greenebaum on Kelly Street. Ferdinand Marx to Julia Randnitz. Raphael Lyons to Julia Lyons. Joseph H. Fitzpatrick to Sol Haas. Chester A. Luff and George Parr to Sol Haas. Joseph Ettinger and others to Milton Mayer. Ray Levin to Myer Bach. and other 17th to 180th Street parcels with mortgages ranging from 8 000 to 60 000 dollars and prices like 75 000 and 57 500.
Works begin in spring on a $1.5 million development at Convent Avenue and St Nicholas Terrace by Sonn Brothers. Eight elevator buildings on plots 100 by 130 feet will be separated by 25 foot gardens and feature a central power station supplying light heat and power. Facades will be Colonial in limestone Harvard brick and terra cotta with ample light and ventilation from expanded courts and yards. The site sits beside St Nicholas Terrace Park and the Sacred Heart Convent grounds.
A dense ledger of real estate transactions shows numerous transfers to Isidore Jackson and Titles Guarantee and Trust Co. across 108th to 174th Streets, plus multiple grants to other lenders and buyers. Amounts range from several thousand to nearly one hundred thousand dollars, with terms from 1 to 5 years and interest from 5% to 7%.
A 1907 case caption lists William Williams and others against Albert London. The document indicates a bond related filing dated October 25, 1907, involving a 720 St. ns. 100 ft West of Amsterdam Avenue. No outcome details are provided.
Jacob Leitner notes how Bronx real estate cooled after boom years with many vacant flats. now northward migration fills vacancies and property values rise. Builders faced loan shortages, yet nearly full occupancy yields strong returns and a revived market for rental properties.
Clifford B. Harmon notes Westchester County real estate will rise as transportation improvements finish. He cites New York Central upgrades to Harmon and North White Plains, Harlem Division electrification, and growing suburban demand from Yonkers to White Plains. Brokers anticipate a strong spring season.
The McVickar Gaillard Realty Company unveils a classified directory to streamline apartment hunting in New York. Photogravure building photos and floor plans will appear, with cost sharing among owners and distribution to hotels and public directories to reach a broad clientele.
Multiple actions listed with owners and contractors across avenues and streets. Cases name parties such as Felt Malakoff, Pritchard & Son Co, Marston Lumber Co, German Real Estate Co, Jesuit Fathers, Praver, and Cosmos Realty Co with monetary claims ranging from 145 to 14200 dollars.
The Staten Island real estate market remained robust through 1907 with strong demand for acreage along transit lines and rising construction. Corporations and local owners funded new streets and houses, many lots auctioned to locals, and older dwellings sold across the island as industrial growth spurred activity. Mortgage lending recovered post panic with Manhattan lenders more willing to extend in Richmond.
Edward J. McCormage forecasts 1908 building operations in Greater New York will rise above 1907 levels, with suburban expansion into Long Island aided by transit improvements. He notes reduced tenement razing will push housing demand outward, creating investment in local real estate and mortgages amid steady population-driven values.
The Rickert Finley Realty Company sells multiple plots in Broadway Flushing and Westmoreland areas to named buyers including Matilda Lawson Frank Starkman Ann u Sundhelm Ma rseurite Garillet Isabella Van Nostrand Helen F Jase Jack Regan A Quencer and others. McCormack Real Estate Company sells floral park plots on Carnation Avenue Beech Floral Parkway and seven plots at Wal tream Emerson Place Oxford Street Franklin Lincoln and Central Avenues.
Edward B. Boynton notes no recession in New York real estate during the first year, praising stability and continued growth. The American Real Estate Company reports major Bronx development with 1,000 lots at Westchester Avenue and Southern Boulevard, selling two-family houses and renting apartments, and plans further five-story projects near Simpson Street Subway Station.
A forthcoming sale of fourteen West Side tenement houses is set for January 15 with 2 percent down required for taking title. The liberal terms have attracted attention from real estate operators and investors. Joseph P. Day will conduct the sale. The next day he will offer a miscellaneous batch of parcels for executors and others including a Sixth Avenue building near Forty-fifth Street and a store and loft on West Third Street.
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