Real estate record and builders' guide: v. 61, no. 1557: January 15, 1898
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January 15, 1898. Record and Guide 97 MORTGAGE LOANS BY INSTITUTIONS FOR 1897. NEARLY NINETY MILLIONS LOANED DURING THE. YEAR ON NEW YORK AND BROOKLYN REALTY. The following table of mortgage loans by banks, insurance and trust companies, compiled from the lists of mortgages pub¬ lished in issues of the Record and Guide from Jan, 0, 1897, to Jan. 1, 1S98, inclusive, will be found extremely interesting, embracing, as it does, the loans for both New Tork and Brooklyn. The loans by forty institutions are given, together with the several rates of Interest secured, which range from 4 to 0 per cent,, ac¬ cording to the security and character of the loan, A total of .'i;SG,0y2,(;<il was advanced on 5,215 mortgages. It Will be observed that 3,138 mortgages, or more than half the to¬ tal for nearly .$40,000,000 were made at S%, over .i;23,000,000 was loaned at 41/2% and nearly $10,000,000 at 4%. At G% over $10,- 000,000 was advanced, or close to one-eighth of the total. No ac¬ count is taken of mortgages secured by assignment, which would materially increase the figures, only such are given as appeared in the new mortgages. Mortgages given to trust companies to secure bond issues, such as the N, Y. Central & Hudson R. R, R. Co.'s mortgage for -flOO,- 000,000; the Ivins syndicate second mortgage for $1,250,000, to the' United States Mortgage and Trust Co., and about a dozen Others of like character are not included. Where mortgages were made to run al different rates of in¬ terest an average was struck and given in the summary. The Equitable Life made the largest single loan of the year, namely, $2,250,000, on the Ivins syndicate building, now being Ten big loans by the Mutual Life aggregated $2,130,000, and covered a great variety of property, including a brewery, society building, church, apartment houses, costly private dwelling, old houses in the 7th Ward and vacant lots on Manhattan Island and in the Borough of the Bronx. The largest single loan by the Mutual was $500,000, to the Euena Vista Realty Company on Mott avenue and ISSth street lots; $400,000 on the "Royalton," West 43d and 44th streets; $325,000 to Brewer Betz, on Amsterdam avenue, corner of 128th street, and $105,000 to Builder Schnugg. on the "Avalone," corner of 7th avenue and 111th street, recently traded to R. Guggenheimer, President of the Board of Council- men. The New York Life gave a decided preference to big loans on mercantile buildings, nine of their mortgages amounting to $2,- 505,000 out of a total of $3,713,000 loaned by the company during the year, and six of them called for payment in gold. Operator John T. Williams borrowed $040,000 on the southwest corner of Broadway and White street; $550,Uv.u went to Jacob Hirsh on the Borgfeldt Building, occupying the easterly front on Wooster street, between 3d and 4th streets, over five lots, both at 4^^%; $550,000 on Weil & Mayer's new building, Nos 585 and 5S7 Broad¬ way; $160,000 on No. 714 Broadway; $125,000 on the northwest corner Boulevard and OSth street. The New York Life took back Six mortgages for $290,000 on Central Park West, Olst and 92d streets, lots traded to Sonn Bros, for "Parepa Hall," on 3d ave¬ nue. The Seamans' Bank for Savings took four mortgages, aggre- 440,000 SlU.DUO 22 1 (—4 per ceut.—1 Title Guar. & Trust Co. 135 *3,6G(>.000 Equitable Life.................... Mutual Life...................... New York Life........... United States Trust----- 4 Bank for Savings...... 3 Metropolitan Lite......... German Savings.......... Germania Lite ..... Greenwich Savings . Lawyers' Mort. Ins. Co.. 22 Emigrant Indus. Savings . . . Seamen's Savings...... 12 KnickerbotUer Trust....._; Brooklyn Savings ...... 1 Manhattan Lite .......... Washington Life.......... N.Y.Life In. & Trust Co. 4 ClllKen's Savings ......... Ger.-Am. R. E. T. G. Co ... Irving Savings ........ 1 Bowery Savings ....... 12 Dime Savings, Brooklyn 3 N. Y. See. & Trust Co..... U. S. Morl, & Trust Co. . .- Bond & Mort. Guar. Co. 1 East Kiver Savings----- 1 Inst, for Svgs Mcht Clks 2 Williamsburgli Savings.. Manhattan Savings . ., , Central Trust Co.......... Hamilton Trust .......... Washington Trust........ Uniled States Life........ Union Dime Savings...... Farmers" Loan & T. Co. ... Franklin Savings......... Dry Dock Savings ........ Dime Savings. Wmsburg . .. Livrpl & L. & G. I. Co.. 1 All other such iustns. .. IJ 1-414 per cent,-i i-hH4Percent.—, 1 $12,000 206 .$4,1108,500 ,7 .:..;,.. 4 L222,000 j—5 per cent..—i l.liSS $10,S59,S22 no 0,201.(375 5Vi per cent. 3 $7,750 1 1,100,000 ,a'il,oiio 52i),o00 (jsV.oiio iiio^ooo 3iib',oilO 100,000 422,rii)0 280,000 15,000 17,000 15,500 IG 1 71,000 087,000 11,750 47,500 150,000 11 153,500 31 477,500 15,000 415.500 Total ........... '21^ $9,9a6,500 3 "39 100,000 IS oS 2G 1 03 24 204 7 1 10 0 1 34 15 5 4 1 3S 25 12 S 23 37 13 110 1.517,500 2.1(12,000 l,0-!2,750 6,000 001.000 835,000 1,020,050 205,000 23,000 643,500 505.000 '600,6.66 ' "13.506 727,500 397.(!00 369,000 189,000 12,000 ' 623',266 492,000 ' '24", 666 540.000 451,000 '322.666 381,000 440^500 431,250 ' 395.566 1,633,250 150 49 30 2 40 37 - 1 55 11 18 16 4 11 39 S « 10 23 3 S 7 1 178 2 i5 2 IG 6 3 8 1 09 4,23y,0Utt 2,132,500 1,082,l:ii() ' 158,(1011 2,000,000 I'—6 per cent.—1 295 $2,418,501 1 OOO 5 190,500 2 33,000 1 15,000 12 149,100 1,243,500 4,000 61(1,400 510,000 3.000 l,3!>2,5iiO 01,000 675,00(1 1,015.5(10 10(),iiOi» 138,."Oil 271,300 127,000 55,000 102,600 .5-30,000 700,000 36,100 38,100 1,500 655,600 112,083 61,300 70,000 466,000 120,200 65,000 46,000 3,500 428,000 17 107 15 1 266,600 2,550,800 518,500 6,000 '3 110,000 3 80,500 15 25 900,000 729,000 'i 7 10,000 101.000 58 648.100 1 50,000 5 47G,50O 2.273 121 155 60 93 31 70 107 77 79 101 204 30 10 28 24 18 30 26 65 43 35 27 34 4 07 46 30 178 35 3 20 -Total.- 54.S â– 3,701,850 6 104,180 -â– 16 18 11 I 18,000 32 38 2 4,200 71 14 176 1,516,830 862 :i;21,0U3,163 6,427,275 4,420,500 3,713,000 3,639,200 3,140,750 3,081.700 2,5."'0..Siiii 2,27i;.|HHi 2.123 .out! 1,980,900 1,026,950 1,892,000 1,739,250 1,404,5011 1,180,000 1,096,000 1,066,600 1,047,500 1,013,800 954,500 922,600 916,600 826,000 712.000 699,200 678,300 002,500 65.'>.fi00 613,583 590,000 537,800 521,000 466,000 448,200 446.000 504.500 434.750 4,33,100 410,500 7,471.610 i;i:^i^O 973 $23:233000 3,138 $39,425,630 46 $771,030 740 â– n0,652,621 5.215 $86,692,631 erected on Park row. Other big loans by the Eauitable were S400 000 on the Temple Beth El, 5th avenue and iGth street, at m; ¥390,000 to the Potter estate, at 4y.%. on the southeast cor¬ ner of Broadway and Pearl street, 100x150, and $400,000, at 4V2/.. to the Brooklyn Warehouse & Storage Company, on the ware¬ house at Schermerhorn and Livingston streets, Brooklyn, Al! payable in gold, except the latter. These four mortgages ag¬ gregate $3,340,000, more than half of the $6,432,0,5 loaned by the Equitable on 121 mortgages. The second largest loan of the year was also _ made by the Equitable Life. It covers the new site for the University Club embracing seven lots on the northwest corner of oth ave^ nue anT54th street. The loan v^^as for .$1,200,000, at 4%%, and aShou^h made in October, it was not recorded until December Sand does not figure in the table, because it did not aooear in'the issues of the Record and Guide covered. The Bank for Savings made the third largest loan m the w^Y of a mortgage for $1,100,000, at 4 and 4Va%, on the Empire Build¬ ing! at Broadway Rector and Church streets^ Other big loans by the same bank include $S0O,0OO, at 4%, on 4th avenue, south- west corner 19th street, to Central Real Estate Association; $300,- 000 on the new factory of the Western Electric Company Bethune and Bank streets, and $250,000 on the Dehnonico property. South William and Beaver streets, the two latter ^^ *^'^- -^J^^f/ ''- mi of S'>450 000 on four mortgages out of 61 for $d,i4U,iau, The Metropolitan Life loaned .$2,110,000, at D%. on nine mort¬ gages, including such loans as $375,000 on the ""^^'J^f ^' ^^^°;^ ner of West End avenue and Slst street, now owned by Boehm & Coon- $200,000 on the Blenheim and Biltmore, West ;j8th street- $100,000 on new apartment house, corner West End avenue and 97th street; two loans of $310,000 each to Boehm & Coon, on mercantile buildings, 532-34 and 832-34 ^;'°-^^^^^'J,^ ^^fl^ ively $250 000 to Architect Albert Wagner, on business buildings on East 12th and 13th streets; .$200,000 on similar building, at 43-9 Bleecker street, recently traded by Harry Chaffee, and 1-i-i".v poq to John Kehoe, on corner of WeBt and Vestry streets, gating $815,000. The largest was for $440,000, on Nos. 9 to 15 Murray street, a new office building now being erected. The Title Guarantee and Trust Company made seventeen loans, aggregating $o,0!)7,750, in a total of $21,063,163 loaned on 2,273 mortgages. One thousand six hundred and thirty-three of the latter, for .$10,859,822, were at 5%; 135 for $3,666,000, at 4%, and 206 for $4,093,500, at 41/0%. The largest loan on New Tork realty by the Title Company was $400,000, at 4%, on the mercantile building at Nos. 636 and 638 Broadway, just below Bleecker and extending to Crosby. This mortgage was subsequently sold to the Equitable Life. The Titie Company loaned $330,000, at 5%, on the Gill Building, now erecting, at Nos. 9 to 13 Maiden lane: $300,000, at 4%, on Lord & Taylor's old store, corner of Broadway and Grand street, replacing a mortgage of $400,000, at 4^^%, which the sellers took in January, 1897, when they sold the cor¬ ner for $515,000. Another loan by the Title Company was for $300,000, at 5%, to the Cass Realty Co. on the new bachelor apart¬ ment house the â– â– Pierrepont," Nos. 43 to 47 West 32d street. In the way of mortgages on private houses, $150,000 was advanced, at 4ys%, on the southeast corner of Madison avenue and 72d street. Builder'Jas. A, Frame was accommodated with $224,000, at 5%, on his West 90th and 91st street houses, and Builderi^ Stewart & Smith with .$127,000, at 6%, on a row of houses now being erected on West 107th street. In Brooklyn the Title Company loaned $500,000, at 5%, to the Brooklyn Improvement Company, on Pros¬ pect' Park lots, and subsequently reduced the loan to $470,2.50 and divided same into twelve mortgages. The company also made loans of $300,000 and $200,000, both at 4%. on Fulton street and Gallatin place business property and $225,000, at 41/3%, on the corner of Livingston and Nevins streets, extending to Flat¬ bush avenue. The United States Trust Company made its largest loan? on business and residential properties. The Cushman estate secured $385 000, at 4%, on a blanket mortgage covering the new Cush¬ man' Building, corner Broadway and Maiden lane, the new Chel¬ sea apartment Jiouses, porner of 9th avenue an<i 21st street^ p<f
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