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Real estate record and builders' guide: [v. 95, no. 2451: Articles]: March 6, 1915

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March 6, 1915 RECORD AJVD GUIDE 375 three unimproved city blocks may fore¬ shadow the opening of a large vacant area for improvement. There was con¬ siderable activity in tlie West Bronx. No greater testimonial to the stability and fundamental soundness of well- located Manhattan real estate could pos¬ sibly have been tendered than the re¬ cording of the $1,2U0,0U0 building loan by the Metropolitan Life Insurance Company to cover the cost of the new building to be erected on the vacant plot at the northeast corner of Fifth avenue and 37th street, a week after the same company had agreed to finance for $1,- 9U0,U00 a new Madison Square mercan¬ tile building. The signiticance of the release of millions of dollars into new building operations from this source alone, should not be overlooked or re¬ garded other than in a most encouraging light. ----------- The total number of sales reported and not recorded in Manhattan this week was 26 as against 21 last week and 25 a year ago. The number of sales south of 59th street was 13, as compared with 7 last week and 8 a year ago. The sales north ot 59th street aggre¬ gated 13, as compared with 14 last week and 17 a year ago. The total number of conveyances in Manhattan was 182, as against 92 last week, 26 having stated considerations totaling $3,024,200. Mortgages recorded this week number 106, involving $4,264,- 538, as against 52 last week, totaling $1,162,650. From the Bronx 23 sales at private contract were recorded as against 20 last week and 9 a year ago. The amount involved in Manhattan and Bronx auction sales this week was $1,525,037, compared with $856,559 last week, making a total for the year of $8,573,603. The figures for the corre¬ sponding week last year were $525,175 and the total from January 1, 1914, to March 7, 1914, was P,879,2S7. End of Wallack's Theatre. The Gresham Realty Company, Bing & Bing, has concluded negotiations for the sale, to the Fabian Construction Company, Moses Crystal, president, of the plot 70 X 98.9, at 29-33 West 31st street, the easterly portion of the site now occupied by Wallack's Theatre, and occupied with part of the stage and the dressing rooms. It is reported that a twelve-story store and loft building is contemplated. In exchange, the buyer gave the twelve-story loft building 122- 126 West 26th street, on plot 67 x 98.9. Bing & Bing acquire the theatre prop¬ erty in an exchange for a West Side apartment house. The present deal, with the proposed building operation, involves about $1,000,000. The brokers were Heil & Stern. Lower Fifth Avenue Sale. A new corporaiiun, me ivxcrchants' Central liuumng company, capnaiizeu at $zou,uuU, auu wiin a unccLuraie oi nu- gene h.. Aaaius, James /\. Corcoran and Joiiii A. i^iarKe, nus acquired iroin tne 4UU West oist :Dtreet company, 141-1-1/ I'Uth avenue, two eleven anu tweive- story mcrcautue Duuuings, on plot ^4 x VU, at the souLiieast corner oi ^ist street. ine seaers acquired tne property auouL a year ago in an exchange wun me Mc- Lreauy estate ana nave held it at ^fl,- UUU,UOU. Three Bronx Blocks Sold. A syndicate consisting of the Alliance Realty Company, William H. Chese¬ brough and Daniel B. Freedman, has pur¬ chased from the trustees of Henry Maillard, of Paris, about ninety-five lots on Grand Boulevard and Concourse, McClellan street, Gerard and Walton avenues, and East 166th street, compris¬ ing practically three entire blocks be¬ tween 165th and 167th streets. The property has been in the family of the seller since 1864. The tract is along the line of the proposed Jerome avenue sub¬ way and is in a district which has ex¬ perienced considerable recent building activity. --------- "Chatsworth" in $2,000,000 Trade. John S. Melcher sold the twelve-story "Chatsworth" apartment house, in West 72d street, facing the plaza at the south¬ erly entrance to Riverside Park, to the 59th Street Realty Company, Albert I. Sire, president, and William F. Don¬ nelly, treasurer, which gave in part pay¬ ment the twelve-story mercantile build¬ ing, 153-159 West 27th street, on plot 100 X 100, now rented at $50,000 per an¬ num. The brokers were John H. Berry & Co., and De Selding Brothers; they have also negotiated a net lease of the 27th street building for ten years. The considerations involved, including the lease, aggregate about $2,000,000. Titles passed to the new owners on Monday. New Owners for "El Dorado." Marking ine fourth conveyance in two years, tine to tne eignt-SLury apart¬ ment house, "Ll JJorauo," on Ccuiral I'ark Vv est, from i/UtU to 9lst streets, passed this week Irom the Secured noiding Company to the Ll Uorado Holding Company, said to represent i'ennsyivania capital, ihe property was transierred suuject to a mortgage ot $9iU,UUU. Max Kaymond holds tne Duild- ing under lease lor hve years at an an¬ nual rental ot about $bl,OUU. Banker to Build Home. Harris Fahnestock, of the banking firm of Fahnestock & Company, has bought from the United ijtates Irust Company, trustees of the Costello es¬ tate, U-l5 Last b6th street, two four- story dwellings, on plot 41 x 105. Plans are being prepared by Frank V. Hoppin for a new residence to be ocupied by Mr. Fahnestock. The property is as¬ sessed at $107,000. Loft Building for Westerners. The Cleveland Holding Company, Maurice M. Robinson, president, said to represent a syndicate ot Cleveland, Uhio, investors, bought from Frederick Brown the twelve-story loft building, 40-42 West 27th street, on plot 45.9 x lOO. In part payment, the seller took a tract of o,0U0 lots known as the Shanmont es¬ tate, adjoining Belle Terre, Long Island. The deal invoved about $500,000. Builder Sells Loft Building, The George Backer Construction Com¬ pany has sold the new twelve-story mer¬ cantile building, 31-37 East 31st street, on plot 85.8 X 98.9. It is tenanted by manufacturers of women's wearing ap¬ parel. The transaction is reported to be a cash deal involving about $700,000. Buying on Jerome Avenue. William H. Chesebrough purchased from the estate of William F. Have¬ meyer its interest in the property of the Jerome Barnard Associates, consist¬ ing of twenty-seven unimproved lots facing St. James Park, with frontages on Jerome avenue of 268 feet north of 192d street and 386 feet south of that street. Three-States Exchange. Nathan Greene, of Massachusetts, has purchased from the Rossmore Holding Company, "Watts Court," a seven-story elevator apartment house, at 161-169 West 140th street, on plot 126 x 99.11. In part payment he gav^ the Breezy Point Hotel, in Woodsville, New Hamp¬ shire, and a summer home at Hancock Point, Maine. Builders in Bronx Trade. William Goldstone sold the block front on the west side of Leggett ave¬ nue, between Beck and Fox streets, 250 X no, to Silverberg and Shiran, builders, who gave in exchange, the two five-story apartment houses at the southeast cor¬ ner of Tinton avenue and 150th street, on plot 75 X 100, recently built by them. Manhattan—South of 59th St. BARROW ST.—John Wattenberg bought from the estate of Josephine A. Habirshaw the 3-sty dwelling 51 Barrow st. COLUMBIA ST.—Moses Bard resold to the Congregation Agudas Chawerim Anshe Marmo- ros, 65 Columbia st, a 3-sty hall, on plot 25xUH>. MERCER ST.—John R- Davidson sold for thc 190th St. Holding Co. the 6-sty loft building, 2;!7 Mercer st, on lot 25x100. The buyer ga\e in part payment a residence at Long Branch, N. J. 2.">TH ST.—D. H. Jackson Co. bought from the Katherine E. Fitzpatrick estate, the 4-sty dweUing, 242 West 25th st. on lot 15x80. Tlie brokers were William A. White & Sons. Business Eatabllahed 1853 Horace S. Ely & Company This company acts as agent for Tnistees, Executors and Owners in taking entire charge of Real Estate. Makes appraisals. Acts as Broker in the sale and leas¬ ing of Real Estate. 21 LIBERTY STREET 489 FIFTH AVENUE JOHN F. DOYLE & SONS REAL ESTATE AGENTS BROKERS and APPRAISERS 45 William Street New York City Management of Estates a Specialty Member of Board of Brokers John F.Doyle John F. Doyle. Jr. Alfred L. Doyle JOHN C. R. ECKERSON Successor to THOMAS & ECKERSON Manager of Estates, Broker, Appraiser 35 WEST 30th STREET, NEW YORK Wallack's Theatre Building E. DE FOREST SIMMONS REAL ESTATE Tel., 837-838 Plaza 2 EAST SSth STREET Established 1887 CHAS. S. KOHLER REAL ESTATE and INSURANCE Broker and Manager of Estates 901 COLUMBUS AVE., cor. 104th St. Highest References Tel., 5504 Riverside FRED^K FOX & CO. Business Building Brokers 14 W. 40th STREET and 793 BROADWAY O. D. & H. V. DIKE Midtown Business Property CANDLER BUILDING. 220 WEST 42D ST. THOMAS J. O'REILLY Real Estate Broker, Appraiser and Agent BROADWAY AND 109th STREET New York Representative of Caughy. Hearn and Carter, Baltimore and Washington Sulflow & Mass Co., Minneapolis, Minn. HAROLD W. BUCHANAN Mortgage Loans and Real Estate 49 WALL STREET