Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 70, no. 1814: December 20, 1902

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930 RECORD AND GUIDE. December 20, 1902. Now that the franchise has been granted, work will be begun at once, provided the Mayor approves the grant. It is estimated the cost will be $6,000,000 to complete the work. It now looks as if the Board of Estimate think the New Tork Central should pay the city for the privileges it is seeking in improving its terminal facilities. The Central offered to pay the cost of the condemnation proceedings, and to purchase the ground required. It later agreed to depress its tracks, but sug¬ gested that the city defray the cost of the necessary bridges, and that no change be made for its subterranean occupation of the westerly side of Park av and the ground about the Grand Cen¬ tral. As now reported, the Board of Estimate will not accede to these terms, but will demand that the railroad company bear the cost of the bridges and carry them over the avenue at grade, ■which will necessitate a still further depression of the tracks. and that it shall compensate the city for the large area of vault space it will require. As a preliminary to fixing the basis of compensation, Eugene E. McLean, chief engineer, has made a report upon the financial values of the privileges sought by the New York Central. The Citizens' East Side Improvement Association takes excep¬ tion to the plans of the New Tork Central aa submitted to the Board of Estimate, and have sent a petition to Mayor Low pro¬ testing against them and submitting various changes and addi¬ tions. The chief protest Is against the city paying the coat of the bridges, and the principal change desired that the streets be carried over at grade level. Mayor Low assured Richard J. Donovan, attorney for the association, that the matter would be taken up at the executive session of the board. The results have not yet been made public. REAL Gossipj NeWs WORLD and Personals The following are the comparative tables for Manhattan and the Bronx for the Conveyances, Mortgages and Projected Build- lOK* '<"* *he corresponding weeka of 1901 and 1902: CONVEYANCES. 1902. 1901 Dec. 12 to 18, inc. Dec. 13 to 19, inc. Total No for Manhattan 22.'S Total No. for Manhattan IftH Amount involvedi ......fl,fl80,3fi.T Amount involved.......?2.741.44.) Number nominal....... 163 Number nominal....... 117 Total No.. Manhattan, Jan. 1 to date. . 12.403 10,20.> Total Amt Manhattan. Jau. 1 to date. .i;i2t;.G45,214 ?139.5Gfi,l>17 1902. lOm. Dec. 12 to 18. inc. Dec. 13 to H). inc. Total No for The Bronx lo Total No. for The Bronx 75 Amo'unt involved....... $162,855 Amount involved. :..... $140,97.") Number nominal....... 58 Number noroinal ....... 45 1902. 1901. Total No.. Tbe Bronx, Jan. 1 to dale... 4,308 4,143 Total Amt., The Bronx. Jan. 1 to date. $9,419,240 $10,670,160 1902. 1901. Total No., MuDhattan and Tbe Uronx, Jan. 1 lo date...... IG.SOl 15.348 Total Amt., Manhattnn nnd Tbe Bronx, Jan. 1 to date...... $13G,0G4,454 $150,2.17.077 MORTGAGES. 1902. 1901. ^-Dec. 12 to 18, inc.--, ,— Dec. 13 to 19. inc.—, Maubattan. Bronx. Manhattan. Bronx. Total number............ 227 54 l^S 90 Amount Involved ....... $4,590,275 $207,0511 $4,578,544 $413,SSfS Number over 57(,......... 77 20 73 4y Amount involved......... $514,0fi9 $113,675 $1,067,294 $176,59r» Number at 5%........... 53 32 43 29 Amount involved......... $1,157,906 $148,375 $949,500 $141,179 Number at less than 5%, .. 07 2 72 12 AJnount involved......... $2,918,300 $5,000 $2,561,750 $96,114 No. above to Bank, Trust and Insurance Co.'s..... 00 3 5T 13 Amount involved......... $1,800,000 $12,200 $1,606,200 $79,7o0 1902. 1901. Total No., Manbattan, Jan. 1 to date.. 10.621 10,761 Total Amt.. Manhattan, Jan. 1 to date. $272,331,724 $261,506,712 Total No., Tbe Bronx, Jau. 1 to date... 3,295 3,710 Total Amt., The Bronx. Jan. 1 to date. $16.?0;i,63O $19,441,102 1802. 1901. Total No., Hanbattan and Tbe Bronx. Jnn. I to date...... l:!.9IG 14.471 Total .\nit.,Manbattan and Tbe Bronx, Jau, 1 to date...... $2S9.1.t.'>.:{04 $2S0,947,SI4 PROJECTED BUILDINGS, 1902. 1901. Total No. New Buildings: Dec. 13 to 19, inc. Dec. 14 to 20, Inc, Manhattan...................... 12 16 The Bronx....................... 20 8 Grand total................... 32 24 Total Amt. Kew Buildings: Manhattan....................... $682,250 $1,961,3.50 The Bronx....................... 129,525 37,910 Grand total................... $811,775 $1,999,260 Total Amt. Alterations: Manhattan....................... $146,990 .$204,965 The Bronx....................... 5,000 .S,6oO Grand total................... $151,990 $2I3.61.j Total No. New Buildings: Manhattan. Jan. 1 to date......... 811 1,451 The Bronx, Jan. 1 to date......... S48 1,643 Manhattan-Bronx. Jan. 1 to date... 1,659 3,094 Total Amt. New Buildings: Manhattan. Jnn. 1 to date......... $80,446,925 $108,466,070 The Bronx. Jan. 1 to date......... 6.418,625 8.761,890 Manhattan-Bronx. Jan. 1 to date... $86,865,550 $117 227,960 Total Amt. Alterations: Manhattan-Bronx, Jan. 1 to dat£. .. $11,222,570 $5,516,425 -----------•----------- Record and Quide Quarterly. The Record and Guide Quarterly, covering the period from July lat to September SOth, Is now on sale. Price, $3. This number contains all the legal records concerning real estate for the period named—Conveyances, Mortgages, Projected Buildings, Alterations, Leases and Auction Sales, arranged al¬ phabetically and numerically. It is the only publicatloi. of its kind, and is an indispensable realty reference. The annual sub- dcrlptlon price is $10. for which the subscriber receives three quarterly numbers and an annual omnibus number covering all tbe transactions for the year. It is published at the offlce of the Record and Guide, Nos. 14 and 16 Vesey St., N, T. City, Gossip of the Week. SOUTH OF 59TH STREET. MADISON AV.—In the application of The Wyllys Co. for per¬ mission to increase its capital stock from $250,000 to $500,000 Is revealed its intention to purchase from the Misses Stokes the property at Nos. 35 and 37 Madison av and Nos. 38 and 40 East 26th St. The increase of $250,000 is to be preferred stock and it is presumed is to be used to purchase the above-mentioned property. The company also proposes to borrow $200,000 from the Bank for Savings. The property was conveyed to the Misses Stokes in 1SS7 by the executors of James Stokes for $265,000; it fronts 49.4 on Madison av, has a depth of 175 feet, together with Nos. 38 and 40 East 26th st, 50x98.9, which abutt the Madison av property. It was olfered to the city this year for $100,000 less than an appraisement to be made by three real-estate ex¬ perts. Geo. R. Read appraised it at $500,000, E. H. Ludlow ^ Co. at $410,000 and Douglas Robinson, Charles S. Brown Co., at $400,000. STH AV.—Morton F. Plant has purchased the plot 50x100 at the southeast corner of 5th av and 52d st, and will erect there¬ upon a handsome dwelling. This site is part of the Roman Catholic Orphan Asylum block which the Barney-Shelden syndi¬ cate purchased in December, 1899, for $2,450,000, all of which with the exception of six lots they had resold before taking title. The Union Club paid $700,000 for the 51st st corner, a plot front¬ ing 75.5 on the avenue and 160 on the street; the lots just sold are part of a plot 125.5x150 which were transferred to the syndi¬ cate for $000,000. They sold 125.5x100 to the New York Realty Corporation for $750,000, which corporation in turn resold it for $525,000, and bought it back a year later for $1,000,000. In the meantime it had, however, been excavated, and while the Realty Co. took title, George "W. Vanderbilt, who is now erecting two dwellir.gs on the southerly end of the plot, was the actual buyer and is the seller to Mr. Plant. The prices which this 52d st plot brought this year show a very material increase over the price paid by the syndicate. They sold the 51st st corner to the club for $700,000. This corner contained 13,566 square feet and it is presumed that there was a profit to them in that sale. The 52d st corner, admittedly the less desirable and containing only 12,566 square feet, this year sells for $1,000,000. The street lots also show a steady increase. Thus the lot 32.6x100.5 on 51s£ st, 160 feet east of 5th av, sold in 1900 for $100,000 and was later re¬ sold to J. T. Farley for $110,000. A plot 30x100.5 adjoining brought in 1900 $8S.50O and was resold for $110,000 in 1902 to Ellen S. Melcher, who is now erecting a dwelling. The adjoin¬ ing plot, 82.6x10.5, sold in 1900 for $239,500, was resold in 1902 to William Hale's Sons for $268,000, and has since been resold to William K. Vanderbilt, it is said, for nearly $400,000. The lot 40x100.5, 75 feet west of Madison av, sold in 1900 for $115,000. and has been resold to James W. Henning, who probably bought it on a speculation; on 52d st there have also been a number of resales at advances. The lot 50x100.5, 100 feet east of 5th av, was purchased by Edward Holbrook for $110,000, The adjoining 30 feet was purchased by Lonsdale Boardman in 1900 for $60,000 and almost immediately resold for $64,000 to Mr. Holbrook, who has erected a 5-sty dwelling on it and has sold lot and dwelling to Ernest Kempton Adar.is. The next GO feet brought at first $106,000, was resold to Flake & Dowling for $135,000, and "by them to Perez M. Stewart for $160,000, who erected two dwell¬ ings on the lots, one of which has been sold to August Heckscher. R. P. Lounsberry and Robert Olyphant own the next two 30-foot lots, for which they paid $54,000 and $60,000 respectively. A 20- foot lot adjoining was bought by J. D. F. Lanier in 1900 for $44,- 500 and resold for $56,000 to Lizzie D. Lockwood. The laat lot on 52d st, 25x100.5. is owned by H. D. Babcock, who paid .$52,500 for it in 1000. At the last-known prices at which these lots sold the block would figure at .$2,931,000. The club site is included in this reckoning at $700,000. and it is certainly worth consider-