Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 64, no. 1657: December 16, 1899

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December i6, 1899. RECORD AJSTD GUTDE. 927 Etage. I was always and am now o£ the opinion that thèse improve¬ ments whlch are an indispensable part of the city'a progress, and whieh are not paid for by taxation, should bave been excluded in considering the liabilities of tbe city, Another year has nearly passed and at this writing the first regulating and grading contract bas to be let, Lovers of the charter as it stands can make as many excuses as tbey like and palliate the situation as they may; but tbe fact remains that after prac¬ tically two yeai-s' opération of tbe act, not a single street regulating anfl grading contract has been let in the tblrd largest borough of tbe flve comprising tbe greater city. This condition cannot be cbarged to ttie delinquency of tbe borougb officiais, or as far as tbat is concerned, to any ûthcial. Tliose wbo decry local autonomy of any kind bave food for re¬ flection in this statement, Anticipatlng complications sucb as bave arisen under the chai'ler, an unusually large number of contracts were let in 1S97 by the Commls¬ sioner of Street Improvements of the 2Sd and 24th Wards. Had not tbis been done. street improvement ln the Bronx would hâve received a much worse black eye tban bas been inflieted ou it directiy and indirectly under tbe charter. Tbe tax levy for 1S99 (in tbe Bronx) will amount to about $3,250.000. The borough will pay in current assessments and arrears about $2,000,- COO, making a total approximately of $5,250,000. An idea of how tbe Borougb of the Bro n.t bas advanced as to tax values may be obtained from the fact tbat ten years ago tbe assessed valuation was $39,T64,4l3S. The total real estate valuation now is $123.702,030, Allowing say a valuation of $20.000,000 for tbe new territory east of the Bronx River, a most substantial increase in 10 years is noticeable. . I bave stated tbat not one contract has beeu mad-e under tbe' charter up to this time for regulating or grading a street in tbis borough. Not one has been made for paving or repaving. I wish to be considered as making no reflection upon any oÊBcial or oSlciais. Tbe fault lies whoiiy with tbe circumlocutlon of the cbarter and the opportunity it furnishes lor delay, deliberate or otherwise, Tbe Commissioner ot Hlgbways and the Commissioner of Sewers bave not been only willing but anxious to advance local improvements; yet. they can't override the cbarter. Sewer contracts at an estimated cost of $210.224 bave been initiated and let under the charter in tbis borougb. Sewer construction, under an opinion of the Corporation Counsel, does not need the autborizatlon of the .Mu¬ nicipal Assembly, while regulating. grading and paving does. This fac-t may explain why regulating, grading and paving contracts bave not mater iallzed. Tbe cbarter bas put our borougb in a sensé two years behind tbe time. Tax values and taxes hâve gone up, but improvements under tbe cbarter we bave bad practically none. ELM STREET AGAIN. - ~ ^Vi >..... >-3J3 To the Editor of The Record and Guide: As to your article in the Record and Guide in référence to sug¬ gestions for the "physical development of the city," I beg to ask you why it is that the Elm street "development" is not put in shape, and why it is that (the bill for this Improvement having passed and been signed by the Mayor) the work is not done? Miirht it be that there is some other reason than the "physical de¬ velopment of the eity" for the holding back of this important im¬ provement? Is it possible that we are to put through another winter season with the street in its déplorable condition? You bave been in a measure instrumental In carrying out this improvement, and can you not now be the means of baving the work performefl, and this at once? The Comraissioner of Streets claims that there is a bill now before the Council, for the grading of "adjacent streets to the Elm street improvement." and that he only awaits tbe passing of this bill to begin the whole work. When we were pushing the Elra street paving and grading bill. he assured us that immediately upon the bill being passed he would hâve the work doue; now he has another reason for not carrying it out, May I ask if you will investigate this matter, and see if you cannot In some way hâve this important adjunct to the "physlca! development of the city" completed, so that before the wet sea¬ son sets in, we can use that street? I need not tell you how hard it is for the owners of property on Elm street to carry their prop¬ erty at a loss of income. and cost of carrying charges; but it ia a shame that sueh should be the case, wixen the very people who pay lor improvements cannot bave them carried out. Tours, etc.. S. H. STONB, New York. Dec. 11. 1899. We understand that the real obstacle to the completion of work on the Elm street improvemeut now is rapid transit. Elm street is the route for that opération, and it is reported the city ofReials fear to incur expenditure that would be thrown away if an early beginning is made upon the rapid ti-ausit railroad, Therefore, apparently, the work on Elm street dépends on whether or not a suitable bid Is received for building the railroad in response to the invitation now being published.—Editor Record and Guide. Bind your copies of the "Record and Guide." They are invalu able for search and référence. We will either bind your copies ln half-sheep for $1.75 a volume, or In half-morocco for $2,00 s vçloma, or supply you wtth handy binders, whlch you can ust yourself, for $1.00; postage, 19 centa. "Record and Guide" offlce. i-i and 16 Veiey ntTf't Real Estate Market. The following are the comparative tables of Manhattan and the Bronx of the Conveyances, Mortgages and Projected Buildings for the corresponding weeks of 1899 and 1898; CONVETANCES. 1899, Dec. 8 to 14, inc. Total No, for Manhattan 174 Amount involved....... $899,557 Number nominal ....... 113 1899. Dec. 8 to 14, inc. Total No. for Bronx___ 69 Amount involved....... $82,860 Kumber nominal ....... 47 1899. 1898. Dec. S to 14, inc. Dec. 9 to 15, inc. Total No, tor Manhattan and Brons..... 243 246 Amount involvea.................... $982,417 $2,864,990 Number nominal .................... 162 115 Tetal No, Conveyances, Jan. 1 to date. 14,922 1.^.-^31 Total Amt. ConveyanoeB,Jan. 1 to date $137,266,432 $08,651,171 MORTGAGES. r-Manhatta.n & Brons.—, . 1899. 1898. Dec. 8 to 14, Dec, 9 to 15, 1899, ,----Dec. S lo 14. inc. Manhattan. Bronx, inc. Inc. Total number for......... 210 79 289 293 Amount involved........ $4,036.330 $300,036 $4,386,366 $5,553,797 Number over 5%........ 86 37 123 133 Amount involved........ $1,437.780 $123.3TG $1.561,156 §1,681,482 Number at 5 per cent..., 55 3s 93 99 Amount involved........ $1,083,175 $180,660 $1,263,835 $1,837.615 Number at lésa than 6% . g9 4 73 61 Amount involved........ $1,315.375 $46,000 $1.561,375 $2.034,700 No. atfOTe to Banks. Trust and Insurance Co.'b.... 53 ,,„_11 Amount involved........ $1.891.lin *60,o00 Total No. Mortgages. Jan. 1 to date.,. Total Amt. Mortgagea, Jan. 1 to date.. 64 46 $1,960.075 $2,414.200 17.700 15,596 §396.-324,574 $224.753.123 SATISFACTION OF MORTGAGES. Totnl iiiiiiiber. 213 Amonnt in-rol-ved. .^2,fl05,Ga5 PROJECTED BUILDINGS, 1899, Dec, 8 to 14. ino. Total No, Naw Buildings: Manhattan............ 79 Bronx................. 93 Grand total......... -------------- 172 Total amount for Manhattan............ $3,333,600 $672,735 $93,585 $15.775 Bronx Grand total......... Total amount ot altération Manhattan............ Bronx................. Grand total......... Total No, New Buildings, Manhattan and Bronx. Jan. 1 to date......... Total Amt. New Buildings. Manhattan and Bronx, Jan. 1 to date......... Total Amt. Altérations. Jan. 1 to date.. $4.006,335 $109.360 4,437 $110,778,171 $6,612,017 1898. Dec, 9 to 15, inc. BS $1,107,775 3,315 $05,578,460 $6,530,067 "Copyright by Rea! Estato Record Association." The total number of brokerage transactions reported Is G4, wlth considération given In 17, amounting to $1,974,500, The flgures for the corresponding week last year were. 60, 10, and $1,584,500; for last week, 53. 17, and $1,568,250. Gossip of the Week. SOUTH OF 59TH STREET. Elizabeth st, No. 127, lot 25x94, wlth old huilding; sellers, Rocco M. Morasco and Dominick Abbate; buyer, The Italian Mission of the Protestant Episcopal Church in the City of New Tork; bro¬ kers, E. A. Cruikshank & Co, .This property adjoins Nos. 359 and 361 Broome st, a plot 47.6x101,6x47x98, containing 5 and 2-sty brick assembly rooms. to which the mission took tltle on Nov, 20. and which was also purchased through E, A, Cruikshank & Co.. Erom Messrs. Morasco and Abbate. The Italian mission has been located at Nos. 303 and 305 Mulberry st, whlch site was so much reduced by the Elm st widening as to make removal necessary, A church and parsonage wlll be erected In Broome and Elizabeth sts. The committee on the purchase of site consisted of Beach McEvers Whitlock and Thos. V. Boynton. 54th st. No, 4 East, lot 36x100. with new dwelling nearing com¬ pletion; seller, W. E, D, Stokes; buyer, Wm. H. Moore, of Chi¬ cago; broker, John N. Golding; price, $325,000. The house was intended for the occupancy of Mr, Stokes. 55th st. south side, 360 feet west of 5th av, 50x100. vacant; seller, H. McK. Twombly; buyer. Chas, S, Brown, representing J. S. Kennedy; broker, John N. Golding. 55th st. No. 23 West, 3-sty stable, on lot 25x100; seller, estate of George Kemp; buyer, H. MeK. Twombly; broker, John N. Golding, 53a st, No. 38 West. 4-sty hlgh-stoop brownstone dwelling, 25x SOxlOO; scl.'er, Mrs, S. D. Ripley; priée, about $100,000; buyer, Geo, Clark; brokers, tienry D, "Winans Se May. 39th st. No, 18 West, 4-sty brownstone dwelling, 22x65x100; sellers, the Misses Eeach; brokers, Thos. P, Pitzsimons, R T. Benson and J, A, Dunning. Sth av. No, 3, 4-sty brownstone dwelling, on lot 27x100. It is reported tbat this property has been traded for three lots on 5th av. between lOSth and lOGth sts, 19th st. Nos, 417 and 419 West, two dwellings, 42.10x30; seller, Sisters of Good Shepherd; buyers, Lowenfeld &.Prager, 3d st. No, 46 East. 3-sty dwelling, 20x50; sellers, Lowenfeld & Prager; buyer. Adolph Schlesinger. 13th st, No. 28 East. dwelling, 23x5Gx irregular; seller, Theron G. Strong; buyer. Edward G, Zoellner; brokers, Folsom Brothers. Macdougal st. No. 108, 5-stv brick dou^fe tgnement, 25x100;