Real Estate Boom Draws Hundreds of Thousands Across Manhattan
Real estate activity last week shows a vigorous market in Manhattan and The Bronx with many large deals. Investors and brokers report strong lending, rising values, and a mix of new luxury apartment projects and Midtown office prospects, including a $1.5 million Union Dime site sale and a Madrid-based broker's involvement.
MENTIONED IN THIS ARTICLE
Manhattan Island
Bronx
Fourth Avenue
Irving Place
Washington Heights
Dyckman
Pennsylvania Tunnel
Realty Leaders Calm Market as Sixth Avenue Grows
The piece notes booms and caution in real estate as Sixth Avenue becomes a retail hub. It cites sales on 865 and 822 Sixth Avenue and the southeast corner of 45th Street and Sixth Avenue for immediate development while investors acquire parcels north of 424 Street and near old car barns.
MENTIONED IN THIS ARTICLE
Sixth Avenue
Manhattan
Long Island
Jersey Shores
Bank
Manhattan Island
424
Sth Street
William H. Wheeler
45Th Street
Optimistic Newark banker cites transit link to Manhattan
William Scheerer, president of the Union National Bank of Newark, spoke with his family before departing for Europe about bright business prospects. He said improved Newark Manhattan transit facilities will be key to Newark’s development as a major national business center.
MENTIONED IN THIS ARTICLE
Wiliam Scheerer
Union National Bank
Newark
Balling
Europe
Manhattan
Architects File Plans for Remodelling Across City Blocks
Kirby Petit Green and Buchman Fox file plans to remodel the Acker Merrall Condit building corner Fifth Avenue and 35th Street and to widen Fifth Avenue. Other filings include a two story Standard Oil office and stable at West 46th Street and a two story moving picture hall at Amsterdam Avenue for the Hopper estate.
MENTIONED IN THIS ARTICLE
Kirby, Petit & Green
Buchman & Fox
Acker
Merrall & Condit Company
Fifth Avenue
35Th Street
Singer Manufacturing Company
Albert Simonson
Stephenson
25Th Street
Standard Oil Company
West 46Th Street
W. C. Ellis
Moving Picture Exhibition Hall
Amsterdam Avenue
Hopper
Thomas W. Lamb
Ideal Home Site East Midwood Emerges in Flatbush
William E Harmon of Wood Harmon & Co. touts East Midwood as the last large Flatbush farmland tract opening for upscale housing. He notes prices from eight to fifteen hundred dollars per lot with 10 down, compares with South Midwood and Fiske Terrace, and cites builders like John R Corbin Co. and rising demand amid shrinking land supply driving values higher.
MENTIONED IN THIS ARTICLE
East Midwood
William E. Harmon
Wood, Harmon & Co
Flatbush
Brighton Beach
Brooklyn
South Midwood
Fiske Terrace
John R. Corbin Company
Fifth Avenue
Manhattan
Third Avenue
New Queens Values Show Rising Valuations in 1996 to 1909
The Department of Taxes reports revised 1999 assessed valuations for Queens with gains across eastern boroughs due to shifting investment demand. Three year tables show notable increases in ward values led by the 3rd Ward including Flushing Whitestone and College Point where new homes cost 15 to 22.4 thousand dollars and average construction value rose about 10 percent.
MENTIONED IN THIS ARTICLE
Department of Taxes and Assessments
McClellan
Queens
P.C. of Wards
Fife
Flushing
Whitestone
Malba
College Point
North Shore
Cost of Suburban Work and Development Costs
A M McKnight of the McKnight Realty Company explains the heavy pre sale development costs in major Long Island projects. He cites Lawrence Manor Favarde Whitestone Bayside Flushing Murray Hill Flushing Terrace and Cedarhurst North with multi thousand dollar upfront investments before any lot is offered.
MENTIONED IN THIS ARTICLE
McKnight Realty Company
Lawrence Manor
Favarde
Long Island
Kenmore
Whitestone
Bayside
Flushing
Hayside
Murray Hill
Flushing Terrace
Cedarhurst North
Cedarhurst
Syndicate Buys 4 Series Lots in Manhattan Beach Estates
Joseph FP Day sells to a syndicate led by Stuart Hirschman four dozen plus parcels at Manhattan Beach Estates for about 350000. The thirty lots lie between Oriental and Hampton Avenues facing the Long Island Railroad terminal and new Herald Square transit tunnels. The purchase includes five Oriental Avenue lots, forty West End acres, and a block fronting Oriental Avenue.
MENTIONED IN THIS ARTICLE
Joseph FP. Day
Stuart Hirschman
Manhattan Beach Estates
Oriental
Hampton Avenues
Long Island Railroad
Herald Square
West End Avenue
Oriental Avenue
Protective Association Formed by Realty Operators and Builders
A Realty Operators and Builders Association has formed in Manhattan and The Bronx to protect building operations and help discriminate between solvent contractors and those making unfair claims. It aims to harmonize union wages, legal compliance, contract fulfillment, and arbitration of disputes with leaders including Pincus Lowenfeld and Joshua Kantrowicz as counsel.
MENTIONED IN THIS ARTICLE
the Realty Operators and Builders’ Association
Manhattan
Bronx
Pincus Lowenfeld
William Prager
Harris Mandelbaum
Harry Perman
Elias A. Cohen
Benjamin Weil
Benjamin Nieberg
Hyman Adelstein
Irving Bachrach
Gerson Hyman
Isaac Hart
Joseph I. Buttenwieser
Samuel Berkin
Israel Lippman
Julies Weinstein
Joseph Brody
Jacob Axelrod
Joseph Golding
Frank Hillman
Karl M Senthal
Isaac Polstein
Samuel Wacht
Joseph Silverson
Harry Goodstein
Samuel D. Davis
Jacob Lettner
Joshua Kantrowicz
No. 312
Broadway
Real Estate Board Opens New Rooms With Reception
The Real Estate Board of Brokers opened its new board rooms in the United States Realty Building at 115 Broad way with a members reception. Joseph P. Day and E. B. Boynton gave brief addresses among a large gathering of brokers including Henry Morgenthau William G. McAdoo and many others.
MENTIONED IN THIS ARTICLE
Real Estate Board of Brokers
United States Realty
Broadway
Joseph P. Day
E. B. Boynton
Francis EF. Ward
William H. Chesebrough
Harold P. Roberts
Henry Morgenthau
William G. McAdoo
D. W. Westfall
Edward Sheeh
J. Ward Smith
J. Elmer Briggs
Hershan L. R. Edgar
Ronald Eliot Curtis
John Sitwell
Guy C. Dempsey
Ferdinand H. Mela
William G. Conklin
J H. Ward
Remsen Darling
Bernard Lewinson
Frank B. Smith
Arthur K. Mack
George Henderson
Peter S. O'Hara
William Moran
E. C. Potter
Alfred Beckman
R. J. Casey
J. H. Kramer
James F. Markham
L. F. Bertholz
Charles Eckt
James F. Litz
Edward P. Smith
BE. S. de Witt
George W. Stetson
William J. Seligsberg
C. F. Mehltrutter
H. Sisson
Charles V. Halley
Walter Lockett
New Owner for Uptown Brownstone on West End Corner
Snowber and Co sold a brownstone on lot 20.8 by 100 feet at the northeast corner of West End avenue and 88th street. The property brought $60,000. Walter Ward sold to Mr. OConnor who will occupy the house.
MENTIONED IN THIS ARTICLE
Snowber & Co
West End Avenue
88Th Street
Walter Ward
O’connor
First Advance On $950000 Loan On City Building
The Title Guarantee and Trust Company made the first advance on a mortgage for 956000 dollars on a twelve story fireproof store and loft building located on the south side of 4th street from Broadway to Lafayette street.
MENTIONED IN THIS ARTICLE
Title Guarantee and Trust Company
4Th Street
Broadway
Lafayette Street
Real estate crisis over Italian colonies in Westchester County
Experts warn Westchester realty faces irreparable damage from Italian laborer colonies near New Rochelle. The piece cites crime, counterfeiters, and neglect by big interests, arguing for coordinated relocation and modern suburban development to preserve values and prevent decay.
MENTIONED IN THIS ARTICLE
Westchester County
New Rochelle
Pelhamwood
East Midwood Real Estate Promise in Flatbush Growth
The article touts East Midwood as the last large tract for premium development in Flatbush and predicts strong profits for builders. It recalls Oak Crest, notes rising demand around Brighton Beach, Fiske Terrace, and South Midwood, and urges readers to verify claims with simple inquiries rather than rely on speculation.
MENTIONED IN THIS ARTICLE
East Midwood
Flatbush
Oak Crest
Midwood Manor
Brooklyn
Brighton Beach
Fiske Terrace
South Midwood
Wall Street
Missouri Wise
Property Sold for James Miller Foot Estate to Minnie Blanchard
John H Day sold nos. 6 and 8 East 30th street old dwelling houses 40 by 38.9 feet to Minnie A Blanchard for James Miller and the Foot estate. Plans are considered for a twelve story store and loft building on the site.
MENTIONED IN THIS ARTICLE
John H Day
James Miller
Foot Estate
Minnie A. Blanchard
East 30Th Street
Investor touts Manhattan Beach lots as cheap oceanfront bet
Mr. Hirschman, a major Queens taxpayer and subdivider with holdings in Manhattan and the Bronx, says oceanfront lots near Sheepshead Bay offer city improvements and no assessments. He notes a 30 block of Frontage on West End Avenue and 80 lots around Shore Boulevard and Hampton Avenue, with a quick 35 minute rail trip from lower Broadway.
MENTIONED IN THIS ARTICLE
West End Avenue
Hampton and
Oriental Avenues
Hampton Avenue
Emmons Avenue
Sheepshead Bay
Shore Boulevard
Amherst
Beaumont Streets
Hirschman
Queens
Manhattan
Bronx
Mr. Hirschman
Lower Broadway
Manhattan Beach
Ocean
Turner Sells City Dwellings for Business Use
E A Turner transfers three properties to Abraham Schwab for conversion to business use. The Reed estate sells Mary L Olmstead No 41 East 28th street four story house on a 2010 by 989 foot lot. Bagley estate No 4 East 23th street four story house on a 22 by 98.9 foot lot. Schwab plans alterations to suit commerce.
MENTIONED IN THIS ARTICLE
E. A. Turner
Abraham Schwab
2Th Street
Mary L. Olmstead
Reed
East 28Th Street
Bagley
Property sale of 9 East 41st Street in Manhattan
John N. Golding and Williams and McAnerny sold the five story business building at 9 East 41st street between Fifth and Madison avenues for Mrs. Julia del Monte of Paris to a Coudert Brothers client. The lot measures 2x6 feet and the property was listed at $110,000.
MENTIONED IN THIS ARTICLE
John N. Golding
Williams & McAnerny
Julia del Monte
Paris
East 41St Street
Fifth and
Madison Avenues
Coudert Brothers
Realty questions shape advice for home seekers
Realty experts probe the housing problem and urge removing causes of concern rather than delaying action. They warn against sticking to old patterns and advise practical steps to ease the residential market.
Birmingham Leader Buys Norwood Lots in Queens
Wilson R. Brown a Birmingham Alabama businessman buys fifty lots at Norwood Long Island City from Rickert-Finlay Realty for 100000 cash. The property fronts Sixth and Seventh Avenues near Broadway Jamaica Avenue and Grand Avenues, with trolley lines on four sides and six minutes from Queensboro Bridge. Brown forms syndicate of Southern capitalists and a corporate holding company to take title for this and future Long Island City properties.
MENTIONED IN THIS ARTICLE
Wilson R. Brown
Birmingham
Ala
Rickert-Finlay Realty Company
Norwood
Long Island City
Sixth
Seventh Avenues
Broadway
Jmaica Avenue
Sixth Avenue
Jamaica
Grand Avenues
Seventh Avenue
Queensborough
Brrds
Brown
Enlargement of Long Island City Plot Sold to Stumpp
The Jackson Steinway Company sold through Loibl Masson two lots in Thirteenth Avenue and two in Fourteenth Avenue between Pierce and Graham to George M Stumpp. Lees Island City adjoining the plot measures 175 feet on Thirteenth Avenue and 175 feet on Fourteenth Avenue with 200 feet on Pierce Avenue, already owned by Stumpp, who is understood to acquire the entire plot shortly.
MENTIONED IN THIS ARTICLE
Long Island City
Jackson-Steinway Company
Also Mentioned on This Page
Uitiie
City Investing
Edward Hedley Cuthbertson
Charles Kaufman
London
England
Robert E. Dowling
Samuel Goldsticker
Messrs. Cuthbertson and Kaufman
East 38Th Street
Eee
Puraeig A. Fajen
Hare
Emily L. Sanda
Pelham Wood
Washington Avenue
7Th Street
6Th Street
Union Avenue
Ideal Home
Flatbush District
A M. McKnight
McKnight Realth Company
Hirschman Syndicate
Protective Association
Uptown House
BIG Realty Probley
Westchester
East 65Th Street
83D Street
John M. T
Ralph Tousen
Blowers
Boston E Bloas
30Th Street
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