Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 59, no. 1527: June 19, 1897

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June 19, 1897. Record and Guide 1055 The sub-committee appointed by the Board of Street Opening and Improvement determined yesterday to submit a report at the next meeting of the board In favor of widening Ann street, from Broadway to Gold street. The committee consists of Gen. Collis, Commissioner of Public Works; John Jeroiomon, President of the Board of Aldermen, and Comptroller Fitch, The cost of the Im¬ provement Is estimated at from $2,000,000 to $6,000,000- The Department of Buildings, by Julius M. Mayer, its attorney, has applied to the Supreme Court for an order to compel the National Life Insurance Go,, of Hartford, the owner, to remove the top story of No, 3 Park row, which is said to be 11 inches out of plumb. The cause of this error is said to be the subsidence of sand from under the foundations, into the deeper foundations now being made for the new ofiice building on the sarae thoroughfare. The Board of Street Opening and Improvement yesterday fin¬ ally adopted the map showing the extension of Watt street, from Sullivan to West Broadway. This wipes out the notorious "Mur derers' Row," a most desirable result of a movement set on foot by Seth Mllliken, Frank R. Houghton and the Trinity Corpora¬ tion, It has a further significance in the fact that the action taken by the Trinity Corporation is a departure from previous policy which, if followed up, is possible of much good. . The ninth annual convention of the National Master Steam and Hot Water Fitters' Association, which was opened at the Wind¬ sor Hotel on Thursday morning, adjourns to-day. More than 300 members are in attendance, the chair being occupied by Mr. Arthur C- Warworth, of Boston. Among the subjects discussed by the convention are: "A Uniform Contract," "Relations with Trades Associations," "Relations with the National Association of Master Plumbers," and "Manufacturers and Jobbers Not in Ac¬ cord-" The members of the local association have prepared an interesting exhibit of articles used in the trade, which is to be seen in the rooms of the convention. The Board of Estimate aud Apportionment have made an appro¬ priation of $1,633,000 for the WiUis avenue bridge- As an act giv¬ ing the city title to the property required for the approaches was passed at the last session of the legislature, work on the plans and specifications may 'oe hurried forward, and Mr. Geo. W, Birdsall, Chief Engineer, thinks that he will be able to advertise for bids on the work of construction some time next month. It is propoaed. to place a sidewalk on the west side of the Lexington avenue approach to the Third avenue bridge, and to widen 1.30th street, from Lexington avenue to Fourth avenue. At the meeting of the Board of Street Opening and Improve¬ ment yesterday petitions were presented by West Side citizens asking for a park on the Hudson River, between 4Sth and Gist streets; by a committee from the Harlem Regatta, asking for a small park on the south bank of the Harlem River, near the new Third Avenue Bridge, for the usft of the Harlem boating clubs and the public; and by citizens of Morrisania, asking the Board to condemn the old Bensonia Cemetery, near the town hall, and to turn It into a park. It was determined at the meeting that prop¬ erty-owners in the neighborhood of the park about to be opened at 67th street and the East River will have to pay one-fourth the cost of that improvement. Trade ITotes. SOME POINTS ON SPRING HINGES. An improvement of considerable importance has recently been made in the process of tempering spiral springs by Bommer Bros., manufacturers of the well-known Bommer Spring Hinge, the springs being tempered in such a manner that the hardness Is greater at the centre and gradually becomes less towards the ends, thereby greatly reducing the risk of breakage at the points where the greatest strain comes when the hinge Is in action. Besides this valuable feature, each spring is fully tested on a specially constructed testing machine before it leaves their works- It Is evident that this progressive flrm is doing everything possi¬ ble to safeguard their product and keep the Bommer spring hinge the best article of its kind on the market, FIREPROOF PARTITIONS. The Doehring Fireproof Construction Co,, pioneers in the con¬ struction of two-inch fire-proof partitions, have removed their of¬ flces to the Townsend Building, No. 1123 Broadway, corner of 25th street The company Is now entirely controlled by the well- known plasterer, Mr. John J. Roberts, which Insures the prompt and satisfactory execulion of all orders. Recent contracts for partition work completed by the Doehring Fireproof Construction Co, Include the Borgfeldt Building, covering the easterly block front on Wooster street from 3d to 4th street, and the large mer¬ cantile building, Nos. 39 and 41 East ISth street, near Broadway, now being completed by Builders S, I. Acken & Son, Mr- Rob¬ erts is now prepared to furnish and erect partitions anywhere, in addition to executing plastering work- It may, be interesting to add that Mr- Roberts ia about completing the work of plastering the following buildings, a group which it would be hard to equal at one time, viz,, New Tork Life Insurance Company's Building, Commercial Cable Building, Gillender Building, corner Wall and Nassau streets; Queen Insurance Company's Building, National Bank of Commerce, New Tork Telephone Company's Building, in Dey street; the Townsend Building, Broadway, comer 25th street; two houses for Mrs, Waldo, 72d street and Madison avenue, and la about to commence plastering the Standard Oil Building, St. James* Building, Broadway, corner 26th street, and many others. Josiah S, Lindsay, the well-known and expert plumber, has re¬ moved from No. 352 4th avenue to No, 150 East 35th street, the lower part of which he intends for business uses. Mr. Lind¬ say solicits only first-class work. He is now doing the plumbing in the new Borgfeldt Building, covering the easterly block front on Wooster street, between 3d and 4th streets. Telephone call 2-573 SSth street. ------------•----------- ' .il.. Real Estate Market. The occurrences of the private sales market call for little com¬ ment- The transactions that have obtained publicity in the week are not so inconsiderable as they are commonplace. Trading is not quite ao conspicuous as it was in the preceding two weeks, but it is undoubtedly there all the same. The trading of a free¬ hold for a leasehold property, an instance of which will be found in our record of transfers, in itself not important, serves to raise the question whether there may not be an enlargement of real es¬ tate business in this city through dealings in ground rents and leaseholds. These are by no means unknown in our trading, but they have not a tithe of the importance that the same class of business has In European capitals, London especially. Is there not something in this suggestion to help out the owners of old property suffering from competition with new? There are many of these, doubtless, who are unwfiling or unable to rebuild, and yet who do not like to part with their property. A business custom that would oftener bring the owner of the laud and the building' capitalist together would be a beneficial one, ana with the rising value of land in New Tork City's business portions and the neces¬ sity of spending large sums in building in order to supply modern desires for commercial accommodations, it is one that may be naturally expected to arise and spread. Reports current of big deals, either made or in preparation, are unusually pretentious and deserve notice perhaps on that groimd if on no other. One was that the U. S, Government hadsecured the Wanamaker store on Broadway and Oth and 10th streets for a postal sub-station. Coupled with this was another, that Mr. Wanamaker had purchased a hotel property further uptown for his dry goods business. It was further said that the trustees of the Protestant Episcopal Church of St. Ignatius, Rev. Father Arthur Ritchie, rector, had received an offer for their prop¬ eity on 40th street, batween Tith and 6th avenues, which they were holding in abeyance while finding another site for their church on the west side, between 05th and 120th streets. The following are the comparative tables for the New York Con¬ veyances, Mortgagea and Projected Buildinga for the correspond¬ ing weeks of 1896 and 1807: CONVEYANCES. 1S!>7. 180G. • , „ ,, June 11 to IT inc. June 12 to 18 Ino. Total number for entire city ..........■ .. 285 aift Amount involved ..................... ?2,4i)7,5SC SJ 4-^'> 512 4ii0 «Rr. 01 ? Number nominal ..................... "^ 'an ¥'w,yi7 Number 23d and 24th Wards, Including ~ new annexed district, .............. SO 47 Amount involved ..................... $239,130 S60 771 Number nominal ...................... 4^ !•"",..* Total IVo. of Canvefauces, Jan, 1 (o dale............................. T,551 * iioj Tolal amoant of CoaTeyanceSf ^,*Vt Jan. I to date...................$65,737,64^ »81,020,007 IIORTGAGES- Total number ........................ S'H 31H Amount Involved ..................... li;4,840,2o--. -tS 7'>1''SO Number over o per cent ............. I3;i ' 'Tno Amount Involved ..................... -?1,02G,570 $3 564 IWi Number at o per cent ................ i;5(', p-,-i^,i^o Amount involved ..................... $2,321,8:i5 si 151 47G Number at less thau 5 per cent....... ^ij tf-i.-ioi.iio Amount involved --.. ........ $1,497,800 $1,001,200 Number of above to Banks, Trust and ^ .ui/j.,-viu Insurance Companies .............. 39 ■ .q Amount Involved ..................... $1,393,300 $2,019,900 Tolnl IVo. ol Itlorigages, Jan. 1 to date.............................. 7,954 r.61N Total atnouatofMortgagea, Jan. ."■=> 1 10 dale..........................S105,ft45,»45 8111,397,37S PROJECTED BUILDINGS- Number of new Buildings............. G8 ft? Estimated coat ....................... $1,378,300 $1,231,800 Total IVo. of New Buildinga, Jau. 1 lodate............................ ],84'.C f van Total amount of IVcw Bniidings, >• oa Jan. I to dale. ...... .....94«,620,6SO 844,04.t,3IU Total aniounl of Alterations, ' Jan. 10 date...................... .1,857,3?* 4 ,30O,9O» The auction record of the week Is one of properties being taken for the mortgages and of withdrawals, and also of hard work on the part of the auctioneers to conjure up bids. Probably William Kennelly never worked harder than he did on Wednesday In sell¬ ing a small parcel at Spuyten Duyvil for $915, the last .fSlS of which came only in .fS bids as a result of the perseverance of the auctioneer. It will be seen from our usual table of auction results in another column that such prices ag were obtained were low, a result due to the almost entire absence of the buying pub¬ iic from the Auction Room- Whether their absence is due to the flow of money in other directions than real estate, or to a prevailing impression that there has grown up a system of pro¬ tecting offerings that precludes the possibility of obtaining bar¬ gains. Is a fair subject for discussion. The figures at which prop¬ erties are knocked dowu do not convey to an Investor any intima-