Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 91, no. 2356]: May 10, 1913

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994 RECORD AND GUIDE May 10, 1913 present. In reality, to judge from the sustained activity in building and the known higher rates charged on these loans than are paid in other enterprises, it would seem that it is not so much a scarcity of money as it is a question of rates. In other words, money can be had—at a price; but the price is higher, and money, like all other commodities, is worth more than it was some time ago. The total expenditure for building in .'\pril at 109 cities reporting to Brad¬ street's at this early date in the month was $79,667,407, as against $82„366,731 in April a year ago and $65,942,553 in March, 1913. There is here indicated an increase of 20.8 per cent, over March, but a decrease of 3.2 per cent, from April last year. Despite the decrease in the total from April, 1912, however, it is worth noting that fifty-seven cities out of 109 show gains, while fifty-two show decreases. Furthermore, it is found that the falling off at New York in building, as in clearings, is account¬ able for the decrease, small as it is, in the country's aggregate. Thus, with New York excluded the country's build¬ ing total is over 10 per cent, larger than in .\pril a year ago. Last of the Drexel Building. Housewreckers began to take down the Drexel-Morgan Building at Wall and Broad streets on Monday. The plans for the building were filed in 1872. A. Gill¬ man was the architect. Forty years of metropolitan progress have sufficed to render obsolete this once beautiful edi¬ fice. It was the second fireproof build¬ ing of importance to be erected here, the Equitable being the first; and it was one of the last of the French type of business structures. Though for many years its walls have been darkly discol¬ ored, they were built of pure white marble, and contained seven stories, topped by a Mansard roof. In design and construction it was representative of the best form of utilitarian building of the era. It had a steam elevator, without which it would not have been built so high. The first of the really high office buildings did not appear until the West¬ ern Union was built, in 1873, from plans of George B. Post. Smith & Rogers were the builders. Ten and a half stories high, with the three topmost ones in a Mansard roof, this was the tallest building of the time. Two ele¬ vators, one of them a water-balance, rendered its "great height" possible of utilization. Only two months later the Tribune Building, from plans by Richard M. Hunt, was started by Peter B. O'Brien, the general contractor. For many years this was the most conspicu¬ ous architectural work in the downtown section. Travelers coming by the sea and the rivers could see it miles away, just as in later years they observed the tower of the World Building over all the rest. —The proceedings and papers of the Second National Conference on Hous¬ ing, held in Philadelphia, December 4, 5 and 6, 1912, have been gathered to¬ gether in a well-indexed book, entitled "Housing Problem in America." The importance of this volume from the standpoint of philanthropy is, of course, apparent, but the fact may not be so ob¬ vious that many of the technical papers are of great practical value to architects and builders, particularly in the matter of suburban houses. The book may be obtained from John Ihlder, field secre¬ tary of the National Housing Associa¬ tion, 105 East 22d street, iTOi!iTi''i?M!^iiiiirrffii."i:'nm^ff)^Ri'":r!;:'"''^n'\''i''''ii'?m itii":' r*!i^:.'^r'rT,'"^mgrr^:V" -"vniT. -. r _^ii|r^ REAL ESTATE STATISTICS OF THE WEEK I The Following Table is a Resume of the Record of Convey¬ ances, Mortgages, Mortgage Extensions and Building Permits Filed in Each Borough During the Week. (Arranged with figures for the corresponding week of 1912. Following each weekly table is a resume from January 1 to date.) MANHATTAN. Conver ances, 1913 1912 May 2 to 8_________May 3 to 9 TotalNo................. 162 193 Assessed value......... $11,604,000 $15,038,8.50 No. with consideration... 36 13 Consideration............ $1.443,.501 $536,500 Assessed value.......... $1,049,500 $660,.500 Jan. 1 to May 8 Jan. 1 to May 9 TotalNo................ 2,993 3,4OT Assessed value........... $182,128,772 $282,600,895 No. with consideration.. 421 323 Consideration............ $19,700,656 $18,094,757 Assessed value.......... $18,808,062 $24,777,150 HortBaKes. May 2 to 8__________May 3 to 9 TotalNo................ 114 136 Amount................. $3,542,133 $4,882,231 To Banks & Ins, Cos. .. 32 31 Amount................. $2,529,000 $2,006,000 No at 6*............... 47 47 Amount................. $550,406 $338,824 No, at SK*............. 4 2 Amount................. $1,253,500 $311,000 No.atS*............... 34 .30 Amount................. $1,078,477 $1,434,152 No.ttt4H!(.............. 10 14 Amount................. $428,000 $940,400 Noat4<................ 1 ...... Amount................. $5,000 ...... Unusual ratea........... ___ 2 Amount................. ___ $294,130 Interest not given....... 18 41 Amount................. $226,750 $1,560,625 Jan. 1 to May 8 Jan. 1 toMay 9 TotalNo................. 1,966 2,334 Amount................ $97,521,163 $140,128,023 To Banks & Ins. Cos___ 477 522 Amount................. $63,421,900 $98,012,971 noTtgage Elxtenaiona. May 2 to 8________May 3 to 9 TotalNo................ 38 52 Amount................. $1,509,083 $1,465,200 To Banks & Ins, Cos___ 10 8 Amount................. $949,800 $278,500 Jan. 1 to May 8 Jan. 1 to May 9 Total No................ 753 939 Amount................. $32,236,918 $27,270,910 To Banks & Ins. Cos.... 269 291 Amount................. .$20,005,700 $20,177,200 Bnildlng Permits. May 3 to 9______May 4 to 10 New buildings.......... 23 15 Cost.................... $1,677,825 $3,474,000 Alterations.............. $340,492 $575,298 Jan. 1 to May 9 Jan. 1 to May 10 New buildings.......... 259 312 Cost.................... $24,857,810 $46,735,375 Alterations.............. $3,963,213 $4,873,789 BRONX. Conveyancee, May 2 to 8________May 3 to 9 TotalNo................ 143 117 No. with consideration.. 17 lo Consideration........... $85,116 $71,879 Jan. 1 to May 8 Jan. 1 to May 9 Total No................ 2,380 2.598 No. with consideration.. 273 225 Consideration........... $2.649,646 $3,210,115 For Improving the Harlem River. Congressman Joseph .\. Goulden has introduced a bill in the House of Repre¬ sentatives, requesting an appropriation of $850,000 for the improvement of the Harlem river, with a view of straighten¬ ing the channel at the curve near the Johnson iron works. The money is to be expended under the direction of the Secretary of War, but the title to the property will be acquired by the State of New York through action by the Leg¬ islature. The improvement of the Har¬ lem river is very necessary in connection with Barge Canal traffic and the project for an Intercoastal canal system from Boston to Florida. -------------------------------------*■----------------------------------- —Riverside Drive, with all its attrac¬ tions as a real estate proposition, has had some vicissitudes. The burning of soft coal and the storing of cattle on the tracks of the New York Central, ajong the residential section of River¬ side Drive, must cease, according to a decision of Justice Page. HortKaiEes. May 2 to 8________May 3 to 9 TotalNo................ 91 106 Amount................. $860,401 $913,.595 To Banks & Ins. Cos___ 9 9 Amount................. $198,500 $78,000 No. at6»................ ,-J7 35 Amount................. $327,803 $218,595 No. at 6W«............. 7 11 Amount................ $102,200 $75,200 No. at 5*.............. 12 30 Amount................. $169,800 $334,700 Unusual rates............ ...... 2 Amount................. ...... $24,000 Interest not given....... 35 28 Amount................. $260,598 $261,100 Jan. 1 to May 8 Jan. 1 to May 9 •Total No................ 1,636 1,8.56 Amount................. $17,219,964 $17,389,985 To Banks & Ins. Cos___ 171 215 Amount................. $3,278,179 $3,799,866 Mortsage Extensions. May 2 to 8________May 3 to 9 To'*' ^°................ 10 16 Amount................. $129,000 $267,211 To Banks & Ins. Cos___ 2 1 Amount................. $56,000 $30,000 Jan. 1 to May 8 Jan 1 to May 9 Total No................ 232 '79 Amount ........... $4,718,935 $4,981,406 1 o Banki & Ina. Cos___ 53 54 Amount................. $1,440,750 $1,.525,000 BnlldlnK Permits. May 2 to S________May 4 to 10 New buildings.......... 29 27 Cost..................... $530,900 $416,395 Alterations.............. $9,750 $20,545 Jan. 1 to May S Jan. 1 to May 10 New buildings.......... 407 515 Cost..................... $10,424,491 $13,269,770 Alterations.............. $34.5,545 $499,650 BROOKLYN. Ooaveyances. 1913 1013 May 1 to 7________May 2 to 8 TotalNo..... .... 519 594 No. with consideration.. 52 31 Consideration........... $172,798 $406,925 Jan. 1 to May 7 Jan, 1 to May 8 TotalNo..... .,....... 8,724 8,924 No. with consideration... 672 536 Consideration........... $4,437,229 84,972,305 Horttrases. May 1 to 7_________May2to8 Total No................ '■ ^ 429 447 Amount.. ..... $3,063,669 $1,895,157 10 Banks & Ina. Cos___ 78 1O6 Amount................. $611,900 $690 100 No. at 8!(................ 23'' 155 Amount .............. $904,497 $1,007,615 No. atSH*.............. 76 47 Amount................. $427,600 S222 250 No.atSi................ 93 \.2i Amount................. $444,138 $525,685 Unusual rates............ 3 2 Amount................. $8,235 $2,200 Interest not given....... 25 22 Amount................. $1,279,199 $137,606 J»n- 1 to May 7 Jan. 1 to May 8 TotalNo............... C.2S3 6746 Amount.. ...... $24,960,070 $27,301,839 io Banks & Ina. Cos___ 1486 1595 Amount................. $9,011,043 $11,149',2'73 Bnildlns Permits. May 2 to 8________May 2 to 8 New buildings........... 72 139 fo.''---,.................. $925,166 $1,246,960 Alterationt.............. $126,182 $108,385 J»n. 1 to May 8 Jan. 1 to May 8 New buildlnga........... 1,451 ^l26 Cost.. .................. $12,26l!244 $16,444,243 Alterations.............. $1,469,733 $1,479,619 Bnildlns Permlta. May 1 to 8________May 3 to 9 New buildlnga...........' 153 Jgj £,°"Vi.................. $821,205 $3.52,025 Alteratlona.............. $18,600 $23,120 J»n. 1 to May 8 Jan. 1 to Mav 9 Newbuildinga........... 1^22 Ttss Co't---.................. $5,877,173 $6,416:697 Altaratlona.............. $443,662 $361,075 RICHHOND. Bnildlng Permits. May 2 to 8________May 3 to 9 NewbuUdings........... 37" ~ 53 Co't--.................. $100,795 $80,905 AlUraUooa.............. $19,136 $4,000 Jan. 1 to May 8 Jan. 1 tf^ay 9 NewbulMlngi........... 346 .335 92f--A.................. $558,007 $1,,330,618 AltMBtloM.............. $91,013 $139,664