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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Nov 29, 1908
Page
4
The week shows a sharp rise in trading activity with investors and speculators driving purchases in Manhattan and the Bronx. Key deals include the Audubon Park tract for over 1.5 million, the Devonshire on Broadway 112th Street selling for 875,000, and multiple Broadway and Fifth Avenue properties changing hands as promoters plan new apartment houses.
The article notes steady trading in property since the year began with sites bought below peak 1907 levels. It argues high class dwellings remain costly to supply, while West Side apartment houses boost nearby land values, aided by the subway and the shift toward multi unit living amid limited single family options.
The article argues that wealthier buyers may shift attitudes toward speculative high end houses while medium price homes selling around 36 dollars or more remain strong investments on Manhattan Island. It notes demand concentrated in central zones, with past large districts near 14th to 21st streets and Sixth to Fourth avenues, and discusses changing splits between high end and midrange housing markets.
Plans filed with Buildings Superintendent Murphy detail remodelling of the Gorham company building at Fifth Avenue and 36th Street. Work includes new windows on multiple upper floors with wire glass and basket grilles, designed by McKim Mead & White. Further filings cover upgrading upper floors at 1% West 26th Street for Henken & Haaren to offices or flats, with Carl P. Johnson as architect. Additional plans convert West 64th Street houses into American basement houses for Worma H. Barrett, with J. W. Cole as architect.
The Lawyers' Title Insurance and Trust Co. engaged Clinton & Russell to design major changes to the 11 and 12 story buildings it occupied at 37 Liberty Street and 46 Maiden Lane. The firm will convert private floors to general offices, widen entrances, and likely rebuild the interior court, with completion expected before May 1.
Thomas J. McLaughlin was reported to have bought Nos. 1, 107 and 108 West 72nd Street, three four story houses on a 59 by 102.2 foot plot, with plans drawn for a twelve story apartment building for the site opposite the Hotel Hargrave.
A newly formed organization of property owners named the West Side Improvement Association leases space at Hotel Marseille and plans meetings to expand its area from 9th to 110th streets. It aims to push projects like an elevated station and a subway stop, with initial effort a tree planting on Manhattan avenue. officers include Adolph B. Rosenfield and Lillian W. Moers among others.
Manhattan real estate groups move to organize forty one divisions under the New York Real Estate Board of Brokers. Local chairmen foster education to recruit large owners while preserving existing associations. The United Real Estate Owners' Associations with about four thousand five hundred members will play a key role alongside the Taxpayers Congress.
The brokerage market shows multiple transfers: No. 18 West 88th Street a four story dwelling sold for occupancy. Nos. 2% and 25 West 24th Street two three story buildings to Seymour Realty. 632 Lexington Avenue a three story dwelling to Abraham Schwab. 69 West 105th Street five story double flat sold for Peter Wolfe. 89 East 116th Street five story flat sold in part payment. 43 West 92nd Street three story dwelling. 2 Pitt Street five story front and four story rear tenement for 52000 dollars. Hunt's Point Avenue parcels exchanged with George F. Johnson's Sons Company. G. F. Johnson's Sons Company and others make multiple sales on Hunt's Point and Seneca avenues. The Whitehall Realty Company sells plot on Ely Avenue to Olga Katzenmayer. 188th Street Bathgate Avenue sale of a row house. Regent Realty buys plot at Broad Way and 141st Street. brokers L. J. Phillips & Co.. Annie Kellogg Dale buys 41 West 15th Street.
Joel S de Selding outlines downtown buildings at a Real Estate School meeting at 320 West 57th Street. Transactions include Mrs Mary E King selling to Dr Edwin H Fiske a three story brownstone at No 152 Lafayette Avenue Brooklyn and the New York and New Jersey Lubricant Company leasing offices in City Investing Building for five years. Other buyers include Joseph E Ritter at 550 West 114th Street and William P Rooney at 169 West 102nd Street with Cecilia Herman purchasing 511 Manhattan Avenue. Colonel Robert C Clowry buys the Mary E Lewis place on Broadway in Tarrytown with a large house and about twenty two acres.
An expert on Dyckman district predicts a strong outlook with potential for rapid development. The area already has regulated streets paved avenues sewers electric light and water mains. Plans include an electric car line across the 7th street bridge and Emerson street with Broadway connections and an elevated subway center serving Dyckman Street 2th and 2sth streets to City Hall in thirty minutes.
Shaw & Co. sold for Margaret J. Ellis three lots on the west side of Eagle avenue 200 feet south of 156th street to a builder who will improve the site. Also sold for Edward M. Tessier 2741 Creston avenue a two story frame two family dwelling 25 by 10 feet
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