1
REAL ESTATE AND HOUSE DESIGN TRAVEL~^HIPPING~~CLASSIF!ED FINANCIAL NEWS PART HI TWKLVK PACKS SUNDAY, OCTOBER 29, J922 TWELVE PAGES PART III 11 ' *" I" " ¦. mi Renters Will Have to Pay. el City s Bills Crea! Increase in Admin» jstralion's Wants Wilr Fall Heavily on Tenants and Small House Ownei <¡V three hundred and some odd mil- Hen dolhr budget which the city ad¬ ministration says will be needed to run g* Jos«) government until this time aaïî year will have to come out of the pacte» of rent payers and small house awn«*. The increased cost of o^era- íioa &<? îast fiyP yea s is $150,652,- 159, wM«* is more than half of tho tetsl Mr<*t voted in 1917. To meet iii» iwrea^e the vnlue of real and per- iottal property has been ii'ted from SS.500000.000 in 19Î7 to $10.500.000 00« for 19?3. Not only has the assessed niw P aced on every parcel of real «tats been raised, but the tax rate has ittn jumped .72 points. Significance of this increase is lost eji!e*»s it is brought home. For in¬ stance, in 1917 the owner >,f a $10.000 home in greater New York paid an uv- erajre tax in the several borou'rhs of 103 per cent on an assessed valuation ?f about $6 010. This year he p*<id nn ifmpe of 2.75 on an assessed valua l^n if $10.000. In other words, he paid $121.80 city taxes in 1917 and $275 citv taxe« in 1922 an increase of $153.20. la addition, he paid n state Income tax ind a larger price for the art:cles he porch*.sed because of the increase in tie rtate tax on mercantile and manu- iact'ir.ng corporations. The Real Estate Board of New York m a statement issued yesterday ca'led iRention to the fact tint the po* ula- dan of geater New York is not grow- Jg as rapidly as formerly. In an «Bivais of the budget the board says: P.pl. 1917. 191'S Increase Wlc* .. .118."00.*. 41 $-.2.667.394 $14,4«.Ï 05S ña - 9.090....9 17.713.6.T 8.68*. 218 gMÜh .. 8.30S.-41 fc.iS7.S63 2.199,612 Strict Cle»nina S.OSO.liS» 17.071.983 8,981.294 »Ami 8«rnc« 8f.7M.5fi8 ie.4S6.84l 16.691.073 CWld Wetf«.- t.?88.800 6.1S6.S59 3.849 7*-» CUrlty 6.68".4.15 7.391.175 1,808,7 0 Stoatlon 42.74r,.*'.'.8 101.5ft..926 68.75».*U-8 f>in.y 7.341. ..17 10.598.224 3,256.907 îtforgh Prrstil'U 8.83*1.881 »1.589.284 12.686,123 ¡êks 1.602.000 1.603.151 1,163 Witer. On» IWl K\. 6.»90.788 12.619 995 8.829 '07 Correction 1.514.882 2.316,384 801.502 yisan'-o 1.376.075 2,016.160 640,085 fltnt and Struct.. 1.657.437 2,819.381 1,261.944 jU-K-rmen 289 9'8 4*3 312 133...54 U* 863.705 1.560.120 696.416 Tun ena A*-es<< 673.277 808.511 2S5.733 Station». 1.271,047 t.870.943 «06,* 98 Accounts. 261.208 813.69» «2,489 Parks and Museums 8.169.S48 0.186.. 8S ».»67.436 »Ml** W*lf»r» 4,822,19« »,046.97« I.72S.786 tu Record. 87*'.62i 1,844.Ill 471.63» tte-iast«. 116.000 2Î6.963 111.963 foere Is also a new Item of $3.074,519 âr 'he citv retirement fund. The principal mandatory increases are in Se iums for educttion, police fire, for courts and for county government. The taxpayers of this city and the Tent--aye'6, whose tents are increased by high taxes, should hold to strict accounts bil.ty those responsible lor this enormous increase in the cost of government. » Interesting Development For Madison Avenue Store und Dwelling Btiilcliug of in*4.m Drsiim to Go Up Near Old Car Barns The improvement of the southwest «trnpr of Madison Avenue and Eighty- fifth Street by the Neek Realty Cor¬ poration marks another step in the iranaformation of this part of the town from an unattractive atmosphere of car barns and their accompanying ÎWtuns to a hiphest class business and ro.dential neighborhood. The proposed improvement will cover 42feet on Madison Avenue and 120 feet *)» Ens'. Eighty-fifth Street, consisting if a two-story and basement store and »flit, bui'ding. The improvement will »Ate. the dwellings at 26 and 28 East Eighty-fifth Street These will be al- ".«red Into stores, offices and apart- snerita, with attractive studios in the "ar yard of 26 East Eighty-fifth Street. While the improvement is regarded !a the nature of a taxpayer, the owners are »paring no expense to create an air of permanence and attractiveness. The ¦ieaign prepared by their architect, Walter Haefeli, Inc.. is Italian, with »rched store fronts, red tile roofs, jhite stucco walls and balconies over- aswing with ivy and flowers. The own- in expect to have the buildings ready early spring occupancy. Brett & Wyckoff have been ap- Wiated managing agents of the prop- w*y- e Beth Israel Hospital Will Be Tallest in World »oof Fourteen Stories Abave Livingston Plaee; Oil Fuel To Be Us*?d The Beth Israel Hospital, at Living- .w» Place and Seventeenth Street, the »rne-t ne o which -.vil be bid on fovember 5. will be the tallest hosnital ;a the world. The building will have «oarteen floors above the street lovel rd 'hree below the sidewalk, a build- «¡1? of seventeen floors, in other words. '"e site measures 184x120, and is said ,*. oave cost the institution $500,000. ».«eis Abrahamson designed the buüd- ¿6 G, Richard Davis & Co. are build- ..¡.mt and Louis J. Frank is the build- -J'esunerintcntent. One of the featu es TTtl\e structure Is a 40 000-gallon tank !*' the storage of oil fuel for generat- «t power and in heating the building. ***. ¡a not to be used. » the second floor of the building is to J* pyen over to children. On that .^.fwill be a playroom, garden and the 'n-a..ta* department The maternity i*ttiw, of the hospital will be on the «.«r ahnv*^ .fobti Hancock, Ins anee Co. ~*-cat*?8 in ,ower 5tli Avenue -The j0j,n Hancock Life Ins-ranee **"H>any of Boston. Mass., one of the r*f*« and oldest New England liV fro pt,!l,eí' 'las leased large office space .»*» the Edgar A. Levy Leasing Com¬ edy m the Stuyvesant Building, 100 '¿Iu* Avenue, northeast corner of Fif- .«ath Street. This lease, which is for iu,£ terni of years', was made by S. T W»*m m behalf of Mr. Levy, owner of MO Property, and P. F. Connors man- BP °J the John Hancock Life Inaur- SG °omP«Ry. Thfa is the second In- ¿.»e*» company which ha« leaa«d larga *** la Uni* bwlidln«. .;. Uncle Sam Says N. Y. Rentals Are Higher Housings in New York cost more in September than at any time since December, 1914, ac¬ cording to statistics of the United States Department of Labor, as printed in the bulletin of the Building Managers and Owners Association, of New York. They show that the scale of prices for housings was 56.2 per cent above tho normal scale of 1914. Cost of housing prevailing in Decem¬ ber, 1918, was 6.5 per cent above normal. A year later the sca'e had increased to 23.4 per cent above 1914, in December, 1920, it was 38.1 per cent; December, 1921, it was 53.7 per cent; March, 1922, 54.5 per cent; June, 1922, I 55.7 per cent, and September, 56.2 per cent. The aggregate cost of living for September, how- Iever, was lower than it had been for several years. ii-_______ . ) Greatest Building Season in History Is Nearing End Construction Activities Have Had Stimulating Influence on Nearly Every Line of Business, Says Banker "A wholesome tone pervades the bu lding Industry as the end of the most successful season of its history approaches," says S. W. Straus, of S. W. Straus & Co., "An una" ated con¬ sistency of progress," he declares, "has been sustained during each of the last ten months, and its achievements, at- tained tn spite of many obstacles and retarding influences, have not been surpassed by any other department of commercial or industrial activity in the country. It is a fact worthy of note that building activities exert a stimulating influence on nearly every line of business, and it reasonably m_<;y be assumed that the improvement j which now pervades the general situa- ! tion is, to a great extent, the natural outgrowth of the prodigious accum- ! pi shmenta of the building and con- .struction industries during the year. it becomes, therefore, a matter of en- couragen.ent to all lines of business that the gioup of industries engaged in construction work is in such a hopeful and promising condition. "The market on first mortgage, long-term real estate bonds is f rm at 6 and G.*i per cent, according to lo¬ cality. In the East 6 per cent is the ruling rate, while in the West and South 6*»è per cent is more common. It is our advice that the present is an excehent time to consider long-term financing of improved properties, be¬ fore a tighten ng should occur in the mortgage money market through the diversion of funds to other channels. By long-term financing we mean, of course, loans running for 8 period of ten to twenty years. Builders and all other prospective borrowers on income producing properties should give seri¬ ous thought to the fact that there is an mproved tone in general bus ness. which, as it grows more pronounced. will mean the employment of more and more capital. In addition to the general shortage in buildings, there is a steady demand for new and improved types of structures as the people be- come educated to higher standards of j living both in their home life and in the r business environments. Signifi¬ cance attaches to the recent half-bil¬ lion dollar popular loan by our gov¬ ernment which was put out on a non- callable basis for twenty-five years at 4*4 pei cent interest, a higher rate than any peace-time loan of the United States and but Vs of 1 per cent j lower than any loan made by our gov- ernment during the war period." Too Much Booze | Wrecks Tenement House ! Court Fr"e9 Landlord of Re- spons^iîity for Condition At¬ tributed to Steam From Stills Justices Kernochan, Edwards and Moss, in Special Sessions, held that a landlord cou'd not be accounted re- sponsible for the unsanitary condition of rooms in a tenement when the ten- ants made a practice of distilling their own liquor in the rooms.- The justices gave a susnended sen- tence to the owners of a seven-story, twenty-six-family tenement house in Gr-rnd Street. The owner pl-aded truilty to violating the tenement house law in March last by having broken plaster on the walls and general'y un- sanitary conditions existing in the, rooms, but explained that the tenants of the building, contrary to the land¬ lords' rushes, made a practice of hav¬ ing barrels and stills in their rooms, and that the steam and cooking caused the unsanitary condition. The inspector of the Tenement House Department corroborated this statement and said that many of the tenants of the bulid- j lag distilled their own Uquer. I Ilere and There in Real Estate Field With Camera Man THOPOSED H112.CR.T~ST MOTEK S~id COUtfTRlf ClU8 _ a*¿ JAMAICA_yT. j^-~~>i^>^ ofthe. Greenwich __~-.-^SñVltiGS BRHk., UNDER. GOfiiSTJUlCTlOrt ¿i BROADMRU And, TR/RTjf-SJ^.TH Street ..^.»mmksw-'í&im«»:.!»»*»»»""- ........ ¦^í>*ÍS?SS»?S«!*,w~:-*.^ 1£¿S lOXG JSIMD Cljy pWSXliiiiGS WHICH ARE TO BE SOX.D at AUCTION by BAtfiWl J(£rtA!£lLy/He «lu» If** fir** e Él*ifiÈt.P^jr .^J*' rwJSÍMlíF Pv *p*ftrH£A/ r ¿. _^_^COftSTRUCTtOßt ¿£ ~^^Z ^ORTHERSTCORREK. . «*/RIVERSIDE DRIVE AHA Í09& STREET IU162 GERSl/tö akä BENJAMIN P ti/ilRER RRS ^TME OWRERS Atta. ßUJLDEJ-f Interesting Stores 7nl Apartments project Pok. ZHAVISON AVENUE ¿ItvoL j$&it- STREET Business Buildings To Replace Seven Uptown Dwellings Broadway Savings Institu-1 tion Sells Houses in 45th! Street; French Cham¬ ber Plans New Home The Broadway Savings Institution sold for a reported price of $435,000 to the 159 West Twenty-fifth Street Corporation (Henry Hellman) 71 to 79 West Forty-fifth Street, between Fifth and Sixth Avenues, three three-story and two four-story dwelling, 97.6x100.6. The property is assessed for taxation purposes at $340,000. A tall commer¬ cial structure will probably be erected. The bank took the property over from the McElroy estate about four years ago. George E. Cohn arranged the sale. William A. White & Sons sold for Edward C. Rise et ai. 20-22 East Six¬ tieth Street, two four-story dwellings, 44x100.5, to the French Institute in the United States and French-Amer.can Chamber of Commerce. The buyers w.ll demolish the present buildings and im¬ prove the plot with a building to house their activities. Frederick Brown bought from the Bowes estate 525 West 125th Street, a four-story building, 25x100. Arthur F. Du Crest & Co. were the brokers. The five-story loft at 567 Water Street has been sold by I. Randolph Jacobs and Everett Jacobs to b buyer who wili use it lor his own business. Points To Be Considered in Appraising Real Estate There Are Ten, According to Herman De Seiding, Who Will Name Them To-morrow The regular monthly meeting of the Real Estate Club of the West Side Y. M. C. A., will be held at 6:30 p. m. to- mo»_ow at the association building. i .man e ._e oms Wii. nam uic- ten essential points in appraising real eftate. W. H. Wyckoff, of Pease & Elleiman, will give a talk on the quali¬ fications of a real estate broker, und Mr. Harry Hall, vice-president of Wil¬ liam A. White & Sons, will conduct a forum on the subject of "How to Sell Real Estate." Sales of Dwelling Houses Adolph Klein sold to Winifred Hunt the four-story dwelling at 131 West oevem..*-<.-ifelnn btreet, 18x102.2. Jennio bond sold to Annie Levine the tht-ee.-story dwelling at 387 Man¬ hattan Avenue, 18x50. P. J. Lenahan sold to the Lou-Art Corporation, the four-stor,* dwelling at 848 East 125th Street, 18.9x100.11. Bunny Theater Sold H. E. Levy & Co. sold for the Olym¬ pia Cinema Corporation 3580 Broad¬ way, the Bunny Theater, to Harry A. Harria, of the Bluebird Theater, Ams¬ terdam Avenue and l_6th Street. Highest Bidders Will Get Long Island City Homes 29 Two-Family Houses Still in Builders1 Hands to Go at Auction Twenty-nine cozy looking little homes, each with accommodations for two families, located just beyond tho Long Island Citv end of the Queens- hero Bridge, will be sold at auction on November 8 by Bryan L. Kennelly, Inc., auctioneers. The buildings are new, still In the hands of the T. C. Desmond Company, who built them. They are on Heiser 'treet, adjoining the Queens Boulevard. The houses are Colonial and were de¬ signed by Herbert Lucas. On the first floor there aro four rooms and on the second floor six rooms. They could be made into single family houses without a great outlay of money. According to the terms of the auc¬ tion a first payment of $2,000 will be required from every buyer no matter wh; t were the figures he bid for the property. i ue houses are close to the Bliss treet subway station. On the same day Mr. Kennelly will offer for sale twenty-eight lots in the same section. The lots are fully improved, Mr. Ken¬ nelly said, having concrete sidewalks, curbs, sewer, water and other sub¬ surface improvements. They face on macadamized streets. White Racquet Wielders Defeat Noyes Team Win Tennis Cup in Inter-Office Contest; Battle Will Be Re- cumed Next Year The White tennis team.Mottela** and Murray.defeated McBride and Himmelman, of the Charles F.. Noyes forces at the Pelham Country Club In the postponed match for the Inter¬ office tennis cup. The Noyes Company had held the cup since last year, while the ¿-Vhite office had the golf trophy, wl ich it again won through defeating the Noyes team two weeks ago. The White force now has both cups and will hold them for a year, when the Noyes Company golf¬ ers and net men will tr to bring them from Cedar Street to William Street, --e_- Union Temple of Brooklyn Plans Large Synagogue The ReaPy Associates, Inc., sold to the Union Temple of Brooklyn the plot at the northeast corner of Eastern Parkway and Plaza Street, 58.6xl25x irregular, and the plot on the north side of Eastern Parkway, 84 feet east of Plaza Street, 130.5x55.Ix irregular. The purchasers recently acquired at an auction sale held by the city the lot lying between these two parcels, and the combined site will be improved with a synagogue. Flat for Heights Site M. Ï. Strunsky sold to Samuel Arin- sky a plot on the south aide of 170th Street about 150 feet east of Fort Washington Avenue, who will i m médi¬ at,,!.- ,..,.«. n «vo.itnrv e\r,t\rtrr)ent. Laws That Remedy One Injustice Develop Others London Paper Says English Rent Act Has Not Helped All; Thinks It Will Not Be Allowed to Expire "As an outstanding instance of how attempts to remedy one set of Injus¬ tices leads to the creation of another, Eniand's rent restriction act bids fair to 'beat the band,' says 'The Ocean Times,' of London. "The working of It proved uneaual from the start, and has gone on produc¬ ing legitimate grievances ever since. "Prima facie, it seems only right that people who have got to maintain a roof over their head should not be driven to the alternative of beggary or evic¬ tion. "But it Is one thing to theorize and another thing to bring the theory into fairly workable practice. "The result of forbidding the turning of tenants out of their houses so long as they pay their rent, or even so lonir as, in the opinion of the magistrate, they are honestly endeavoring to pay has given rise to thousands of eases* such as the following plight of a frugal widow: " 'With my life savings I bought a house at Brighton. Then the act wis rassed. I could not pet in. My hus¬ band and I are forced to live !n a damp and dreary basement paying £1 a week, while the tenant who keeps us out of our own pays us 18s. 6d., from which the government deducts rates and taxes, while he sublets to tjhe tune of a rate and tax free £6 a week.' "The act is due to expire next year, but it is very doubtful whether it will be pll-iwed to do so. "Vested interests have been created which are already fighting tooth and nail to secure its continuance. "The 'lobbying' and intrigue which is sure to go on when fie matter comes on for settlement is appalling to. con¬ template." e Marshall Field Increases East 70th Street Holdings Marshall Field, it is learned, is the buyer of the dwelling at 8 East Seven¬ tieth Street, sold recently by Le Roy W. Baldwin. Mr, Baldwin proves, in turn, to be the purchaser of the dwell¬ ing at 12 East Seventieth Street, sold by Clara F. Wolf. Both «a'es were made through William B. Mays & Co. The former adjoins the site of the pro¬ posed Field residence. ¦ Option to Buy Goes With Lease Of Wash-n-rton St. Building The Broadway-John Street Corpora¬ tion (E. A. Cohen) leased from Edward C. Maynard the five-story building at 228 Washington Street, 22.3x55.6, for twenty-one years from next January at an annual rental of $1,800, with a two twenty-one-year renewals on a 6 per cent reappraisal basis. The lease also carries an option to purchase within a year. Mr. Maynard recently r-'---1 New York Has !So Shortage of Homes New York is one of the few cities of the country which is not confronted with a shortage of homes, according to a survey of real estate conditions compiled by the National Association of Real Estate Boards, which met here a week ago. The survey covers 146 cities located in every section of trie country. Only forty-three cities, one of which was New York, have reported an ample supply of homes. The informa¬ tion was supplied to the bureau of information of the national board by the local committee man in each city. The survey says that New York is overbuilt in high «¿lass apartments; that walkup apartment houses rent from $6 to $14 a room; that loft space rents for $1 to $3 a square foot, and office space for $3 to $8 a square foot and stores for $50 for 2,000 square feet. It says that the de¬ mand for residential property Is good, but that the call for busi¬ ness property is slightly under that displayed last year. Labor available here is low in efficiency and scarce in quantity. Money for mortgage investment is fairly plentiful. The rates for money are given at 6*vi*and 8 per cent- There are only two cities In the 146 reporting, which have cheap¬ er money. They are Buffalo and Tujunga Valley, Calif. These conditions are of October 9. 2,939 Realty Concerns Were Formed Last Year Secretary of State Reports Realty Business Is Populcr Inco*-Doratîon at Albany during 1921 of 2,939 real estate companies, accord¬ ing to the figures of Secretary of State John J. Lyons, gives some indication of the great extent to wh'ch doing business under a corporate fonn h«*s crown since it had its beginning about twenty years ago. There weie proba¬ bly a few hundred companies up to that time. Secretary Lyons reports that 16,089 stock companies were formed during the year just passed, with realty heading the list. Of the total 13.C97 are from greater New York and 10 466 fil"d cer¬ tificates in the Manhattan County Clerk's office during 1921. » . a ¦"¦ John F. Norman Acquires $60,000 Home at Spring Lake John D. Miner sold the Edwin D. Belknap property at the northwest cor¬ ner of Adrian and Ludlow avenues, Spring Lake, N. J., to John F. Norman, vice-president of the Bige'ow-Hart'ord Carpet Company. The property was held at $60.000. The same broker sold a plot at Manasquan, N. J., to Ray¬ mond L. Parkhurst, -who will erect a residence. Arthur C. Haggstrom, of the Hagg- ".Uom-Callen Ccmponv. purch««,«?'*' the Colonial McCoy residence at Palisade Avenue and Thirty-.ourth Street, over¬ looking the Hudson County Park and the ifud.oB Biv.f (rt WoodeUff-os*»- Hn<"'*»»rt. How to Safeguard Character of Your Home Section Fire Department Champion of Zone Regulation ; Ready at All Times to Evict Those Who Violate By E. M. Bassett Nearly every one knows that the zon¬ ing resolution prevents the invasion of residence streets by business, but often residents do not know how to bring about the enforcement of the law. In the first placo a business that was lo¬ cated before July 25, 1916, when the zon¬ ing resolution went into effect, is per¬ mitted to stay. If, however, the objec¬ tionable business was started after that date, the objecting residents should mail thetr complaints to the Fire Department, Municipal Building, Manhattan. The complaint should state that the business was started after July 25, 1916, and also what the offending business is. The reason why the duty of enforcing the law against non-conforming uses was placed upon the Fire Department was because it covers the entire city, has outside men and has long carried on a system of inspection- and notices for .arious pur¬ poses. It was not because these viola¬ tions have anything to do with fire. It would have been natural to place this duty on the Building Department, but as there i-re five building departments (one in each borough) it was thought that five different methods of enforcing th» law might gradually grow up. The next question is what uses In a residence district Rre not violations. Boarding houses, hotels having more than thirty rooms, clubs, churches, schools, libraries, asylums and hos¬ pitals are not violations. Accessory uses customarily Incident to using a house as u home are not violations. A doctor, dentist, notar , lawyer, music teacher, artist or sculptor can, if he resides on the premises, pursue his calling and put out a small sign. He cannot put out a display sign. A garage for not over five cars ac¬ cessory to a residence is not a viola¬ tion. It would have been much too drastic to try to prevent ordinary home pursuits. The test should be whether the pursuit is incidental to actual resi¬ dence, whether it has been customary in homes, whether it needs a display sign or whether a considerable number of people other than the resident are employed. If the business becomes the main thing and residence omy an inci¬ dent, then it is not allowed. The busi¬ ness must ue customary and a so inci¬ dental to the residence. For instance, a restaurant, a store, a group of of¬ fices, storage of articles for sale, or industry of any kind requiring a num¬ ber of emp'o ees is not allowable. It may be said that no si jps can be dis¬ played excepting those, of professional people. It is difficult for th«" Fire Depart- ment to know what business was 1c- cated before July 25, 1916, but owners and residents in the locality always know. On this account the department is not to be blamed if it sometimes awaits complaints. Sometimes the Fire Department properly asks the com¬ plainant to furnish an affidavit. If the objectionable business does not stop after notice from the Fire Department the department transmits the violation to the penalty bureau of the law de¬ partment. The offender ean thus be brought before a magistrate, Lapse time or the existence of other viola¬ tions will not justify an offender. The rales which apply to private restrie- I tions *.**> not apply to the soninff. Flat Buyers Active in Many Zones Graylene and Other Large West Side Houses Fig¬ ure in the Buying; Ac¬ tivity on the East Side Miss Edna L. Efnblgler sold to Ennfe A Slnnott the Graylene. at 610 West 182d Street, between Broadway and Riverside Drive, a six-story elevator apartment, en plot 75x100. containing suites of five, six and seven rooms. Charles S. Köhler, Inc., negotiated the deal. The seller was represented by Jacobs ft Livingston, attorneys. The V. Green Construction Company, Vivian Green, president, purchased from the West Side Holding Company, Charles W. Wynne and Louis H. Low 20, 80 and 82 West Sixty-fifth Street, between Central Park West and Broad¬ way, three apartment houses, on plot 66x100. E. Francis Hillenbrand and th* Pierre & Golden Company sold for the G. & E. Realty Company to Nathan Wilson the six-story walk-up apart¬ ment known as the Carpathian, with fourteen stores, at the northwest cor¬ ner of Amsterdam Avenue and Eighty- fourth Street, on plot 40x100. The sell¬ ing company acquired the pioperty from the Margaret E. Hughes estate last April through a series of deals arranged by Mr. Hillenbrand. Doctor Buya Studio Apartment Walter M. Wechsler sold to Dr. Samuel Abraham 110 West Eighty-ajxth Street, a five-story studio apartment containing ten suites of two rooms and bath each, 20x102.2. The broker was Gustave Schneider. Max N. Natanson sold to Vincent» Romano 716 and 717 Tenth Avenue, two five-story fiats, 50x21.2x100. The houses were sold for all cash over first mortgages. These are two of the twenty houses recently purchased by Mr. Natanson from the William Wal¬ dorf Astor Estate. S. Scarpati was the broker. The American Realty Company, Inc.. J. E. Mautner president, purchased 248 to 258 West 144th Street, six four- story tenements, 120x100. Max Mon- fried represented the purchaser. Louis F. Sommer sold for A. L. Larken 79 West 102d Street, a flvs- story flat, 20x100. Emma Von Beren sold to Rebecca Finestone the five-story rial at 61 East 118th Street, 30x100.11. Flora Bachrach sold to the Volln Realty Company the two flve-story flats at 120 to 126 West 139th Street, 5i» 99.11. The Sterling Properties Corporation sold to the Sarson Realty Corporation and Benjamin EDrllch the five-story apartment at 230 West 141st Street. 87.4x99.11. James Kyle & Sons sold for Miss Sarah E. Pinckney the flve-story apart¬ ment at 153 East Forty-eighth Street, 25x100. John Flnck sold 421 East Eighty- second Street, a flve-story flat. 25x100, for the Louise Glogger estate; 884-688 Ninth Avenue, two four-story tene¬ ments, 31x70, for the Mary Jordan es¬ tate, and 227 East Eleventh Street, a four-story house, 25.6x100, for A. L. Gordon. The Hudwlll Corporation sold to Samuel Z. Toutounjian the four-storv tenement at 812 East Thirty-seventh Street, 20x98.9. Greenwich Village Rouses Sold The five old five-s-tnry flats »t the southeast corner of Bank Street and Waverley Place have been purchased by Harris and Maurice Mandelbaum and Fisher and Irving I. Lewine from tho George H. Foster estate, which owned them for about fifty years. The houses front 65 feet on Bank Street and 60 feet on Waverley Place. The buyers will alter tfic houses into suites two rooms and bath. Frank Anderson sold to Susan J. Irwin the five-story tenement at 320 East Twenty-fourth Street, 25x98.9. Brown, Wheelock-Harris, Vought ft Co., Inc., sold for Catherine Hagan to Frank Sullivan 794 Second Avenue, a four-story tenement, 20x80.6. Louis W. Osterweis resold the flve- story brick tenement at 619 East Six¬ teenth Street, 25x92. John Peters was , the broker. Nathan Fronder sold to Angela Cer¬ velle, the flve-story tenement, with stores, at 640 East Eleventh Street, 25x24.9. Marguerite Dodger eel i to Marga- rethe Sauer the flve-story tenement, with store, at 624 East Sixth Street, 24.9x97. William H. Unmann sold to John Bf. Gsimarl the three flve-story tenements, with ctores, at the southeast corner or Cherry Street and Catherine Slip, 63x80.4. Many Find Westchester Houses to Their Liking Several Homes in Mount Ver» non Sold; Buying of Dwell¬ ings in Other Sections R. R. Ragette sold in Mount Vernen the dwelling of Mrs. Laura Walker at Westchester Park, 15x100, to Mra. M. May; a new two-family dwelling at 290 East Fifth Street, Langdon Terrace, to Isidor Kadis, of Milwaukee; the dwell¬ ing of J. Wilson Bryant, at 842 North Fulton Avenue, to Warren Thuramet, of Stamford, Conn., and the two-family dwelling of Mrs. Mary Raymond, at 10 and 12 McClellan Avenue, to Jacob Portman, of this city. The two and one-half story dwelling, with garage, at 76 Belvedere Drive, Yonk«*rs, has been sold b? the New York Trust Company, as ¿xev«.*. *¦-**¦ the estate of the late Walter H. Beeb«.- to Harry K. Watson. Thomas S. Burks was the broker. Howe ft Thompson sold for Edith L. Just an English type of residence and garage on Ln-t?" Avenue, Whits Plains, N. Y. to Elsie a. '.Jloomb-.rc. bald .»** $16,000. Charles W. Wynne and Lout« R. Low resold 18 Elmwood Avenue, Rye, a three-story dwelling, 50x100, to the Rev. Alexander Hamilton, who last week purchased the adjoining house through Cyril Gordon Cash. Tijs Scarsdsle Estates, Robert F-. Farley, president, sold s plot in thei* Greenaeres seetion of Hartsdale to Dr. Elizabeth Adsmson, of Whits Plains. Commissioners for Closing Of Old Bronx Lane Frederick M. Hilt««-*, i_»íe*3íi*-» «*_f William A. White ft Sons; Charlea £=. Hillee, of Dwiffht ft Kîiîes. end William K. Dupre Jr. have been appointed com¬ missioners in the matter of the elosinf *>** Reid». Mill Lane, in the Bronx.

ESTATE AND HOUSE DESIGN NEWS Renters Will Ilere There …and oldest New England liV fro pt,!l,eí' 'las leased large office space edy.»*» the Edgar A. Levy Leasing Com¬ '¿Iu* mAvenue,

  • Upload
    others

  • View
    0

  • Download
    0

Embed Size (px)

Citation preview

Page 1: ESTATE AND HOUSE DESIGN NEWS Renters Will Ilere There …and oldest New England liV fro pt,!l,eí' 'las leased large office space edy.»*» the Edgar A. Levy Leasing Com¬ '¿Iu* mAvenue,

REAL ESTATE ANDHOUSE DESIGN TRAVEL~^HIPPING~~CLASSIF!ED

FINANCIAL NEWS

PART HI TWKLVK PACKS SUNDAY, OCTOBER 29, J922 TWELVE PAGES PART III11 ' .¦ *" I" "¦.miRenters WillHave to Pay.

el

City s BillsCrea! Increase in Admin»jstralion's Wants WilrFall Heavily on Tenantsand Small House Ownei<¡V three hundred and some odd mil-

Hen dolhr budget which the city ad¬ministration says will be needed to run

g* Jos«) government until this timeaaïî year will have to come out of thepacte» of rent payers and small houseawn«*. The increased cost of o^era-íioa i» &<? îast fiyP yea s is $150,652,-159, wM«* is more than half of thotetsl Mr<*t voted in 1917. To meetiii» iwrea^e the vnlue of real and per-iottal property has been ii'ted fromSS.500000.000 in 19Î7 to $10.500.000 00«for 19?3. Not only has the assessedniw P aced on every parcel of real«tats been raised, but the tax rate hasittn jumped .72 points.Significance of this increase is lost

eji!e*»s it is brought home. For in¬stance, in 1917 the owner >,f a $10.000home in greater New York paid an uv-erajre tax in the several borou'rhs of103 per cent on an assessed valuation?f about $6 010. This year he p*<id nnifmpe of 2.75 on an assessed valua l^nif $10.000. In other words, he paid$121.80 city taxes in 1917 and $275 citvtaxe« in 1922 an increase of $153.20.la addition, he paid n state Income taxind a larger price for the art:cles heporch*.sed because of the increase intie rtate tax on mercantile and manu-iact'ir.ng corporations.The Real Estate Board of New York

m a statement issued yesterday ca'lediRention to the fact tint the po* ula-dan of geater New York is not grow-Jg as rapidly as formerly. In an«Bivais of the budget the board says:P.pl. 1917. 191'S Increase

Wlc* .. .118."00.*. 41 $-.2.667.394 $14,4«.Ï 05Sña - 9.090....9 17.713.6.T 8.68*. 218gMÜh .. 8.30S.-41 fc.iS7.S63 2.199,612StrictCle»nina S.OSO.liS» 17.071.983 8,981.294

»Ami8«rnc« 8f.7M.5fi8 ie.4S6.84l 16.691.073

CWldWetf«.- t.?88.800 6.1S6.S59 3.849 7*-»

CUrlty 6.68".4.15 7.391.175 1,808,7 0Stoatlon 42.74r,.*'.'.8 101.5ft..926 68.75».*U-8f>in.y 7.341. ..17 10.598.224 3,256.907îtforghPrrstil'U 8.83*1.881 »1.589.284 12.686,123

¡êks 1.602.000 1.603.151 1,163Witer. On»IWl K\. 6.»90.788 12.619 995 8.829 '07

Correction 1.514.882 2.316,384 801.502yisan'-o 1.376.075 2,016.160 640,085fltnt andStruct.. 1.657.437 2,819.381 1,261.944

jU-K-rmen 289 9'8 4*3 312 133...54U* 863.705 1.560.120 696.416Tun enaA*-es<< 673.277 808.511 2S5.733

Station». 1.271,047 t.870.943 «06,* 98Accounts. 261.208 813.69» «2,489Parks andMuseums 8.169.S48 0.186.. 8S ».»67.436

»Ml**W*lf»r» 4,822,19« »,046.97« I.72S.786tuRecord. 87*'.62i 1,844.Ill 471.63»tte-iast«. 116.000 2Î6.963 111.963foere Is also a new Item of $3.074,519

âr 'he citv retirement fund. Theprincipal mandatory increases are inSe iums for educttion, police fire, forA» courts and for county government.The taxpayers of this city and the

Tent--aye'6, whose tents are increasedby high taxes, should hold to strictaccounts bil.ty those responsible lorthis enormous increase in the cost ofgovernment.

»

Interesting DevelopmentFor Madison Avenue

Store und Dwelling Btiilcliug ofin*4.m Drsiim to Go UpNear Old Car Barns

The improvement of the southwest«trnpr of Madison Avenue and Eighty-fifth Street by the Neek Realty Cor¬poration marks another step in theiranaformation of this part of thetown from an unattractive atmosphereof car barns and their accompanyingÎWtuns to a hiphest class business andro.dential neighborhood.The proposed improvement will cover

42feet on Madison Avenue and 120 feet*)» Ens'. Eighty-fifth Street, consistingif a two-story and basement store and»flit, bui'ding. The improvement will»Ate. the dwellings at 26 and 28 EastEighty-fifth Street These will be al-".«red Into stores, offices and apart-snerita, with attractive studios in the"ar yard of 26 East Eighty-fifthStreet.While the improvement is regarded

!a the nature of a taxpayer, the ownersare »paring no expense to create an airof permanence and attractiveness. The¦ieaign prepared by their architect,Walter Haefeli, Inc.. is Italian, with»rched store fronts, red tile roofs,jhite stucco walls and balconies over-aswing with ivy and flowers. The own-

in expect to have the buildings ready.« early spring occupancy.Brett & Wyckoff have been ap-Wiated managing agents of the prop-w*y-

e

Beth Israel Hospital WillBe Tallest in World

»oof Fourteen Stories AbaveLivingston Plaee; Oil Fuel

To Be Us*?dThe Beth Israel Hospital, at Living-.w» Place and Seventeenth Street, the

»rne-t ne o which -.vil be bid on

fovember 5. will be the tallest hosnital;a the world. The building will have«oarteen floors above the street lovelrd 'hree below the sidewalk, a build-«¡1? of seventeen floors, in other words.'"e site measures 184x120, and is said,*. oave cost the institution $500,000.».«eis Abrahamson designed the buüd-¿6 G, Richard Davis & Co. are build-..¡.mt and Louis J. Frank is the build--J'esunerintcntent. One of the featu esTTtl\e structure Is a 40 000-gallon tank!*' the storage of oil fuel for generat-«t power and in heating the building.***. ¡a not to be used.» the second floor of the building is toJ* pyen over to children. On that.^.fwill be a playroom, garden and the'n-a..ta* department The maternityi*ttiw, of the hospital will be on the«.«r ahnv*^

.fobti Hancock, Ins anee Co.~*-cat*?8 in ,ower 5tli Avenue-The j0j,n Hancock Life Ins-ranee**"H>any of Boston. Mass., one of ther*f*« and oldest New England liVfro pt,!l,eí' 'las leased large office space.»*» the Edgar A. Levy Leasing Com¬edy m the Stuyvesant Building, 100'¿Iu* Avenue, northeast corner of Fif-.«ath Street. This lease, which is foriu,£ terni of years', was made by S. TW»*m m behalf of Mr. Levy, owner ofMO Property, and P. F. Connors man-BP °J the John Hancock Life Inaur-SG °omP«Ry. Thfa is the second In-¿.»e*» company which ha« leaa«d larga*** la Uni* bwlidln«.

.;.

Uncle Sam Says N. Y.Rentals Are Higher

Housings in New York costmore in September than at anytime since December, 1914, ac¬

cording to statistics of the UnitedStates Department of Labor, asprinted in the bulletin of theBuilding Managers and OwnersAssociation, of New York. Theyshow that the scale of prices forhousings was 56.2 per cent abovetho normal scale of 1914. Costof housing prevailing in Decem¬ber, 1918, was 6.5 per cent abovenormal. A year later the sca'ehad increased to 23.4 per centabove 1914, in December, 1920, itwas 38.1 per cent; December,1921, it was 53.7 per cent; March,1922, 54.5 per cent; June, 1922,I 55.7 per cent, and September,56.2 per cent. The aggregatecost of living for September, how-

Iever, was lower than it had beenfor several years.

ii-_______ . )

Greatest BuildingSeason in History

Is Nearing EndConstruction Activities HaveHad Stimulating Influenceon Nearly Every Line ofBusiness, Says Banker

"A wholesome tone pervades thebu lding Industry as the end of themost successful season of its historyapproaches," says S. W. Straus, of S.W. Straus & Co., "An una" ated con¬

sistency of progress," he declares, "hasbeen sustained during each of the lastten months, and its achievements, at-tained tn spite of many obstacles andretarding influences, have not beensurpassed by any other departmentof commercial or industrial activity inthe country. It is a fact worthy ofnote that building activities exert a

stimulating influence on nearly everyline of business, and it reasonably m_<;ybe assumed that the improvement

j which now pervades the general situa-! tion is, to a great extent, the naturaloutgrowth of the prodigious accum-! pi shmenta of the building and con-.struction industries during the year.it becomes, therefore, a matter of en-couragen.ent to all lines of businessthat the gioup of industries engaged inconstruction work is in such a hopefuland promising condition."The market on first mortgage,

long-term real estate bonds is f rm at6 and G.*i per cent, according to lo¬cality. In the East 6 per cent is theruling rate, while in the West andSouth 6*»è per cent is more common.It is our advice that the present is anexcehent time to consider long-termfinancing of improved properties, be¬fore a tighten ng should occur in themortgage money market through thediversion of funds to other channels.By long-term financing we mean, ofcourse, loans running for 8 period often to twenty years. Builders and allother prospective borrowers on incomeproducing properties should give seri¬ous thought to the fact that there isan mproved tone in general bus ness.which, as it grows more pronounced.will mean the employment of moreand more capital. In addition to thegeneral shortage in buildings, there isa steady demand for new and improvedtypes of structures as the people be-come educated to higher standards ofj living both in their home life and inthe r business environments. Signifi¬cance attaches to the recent half-bil¬lion dollar popular loan by our gov¬ernment which was put out on a non-callable basis for twenty-five yearsat 4*4 pei cent interest, a higher ratethan any peace-time loan of theUnited States and but Vs of 1 per centj lower than any loan made by our gov-ernment during the war period."

Too Much Booze| Wrecks Tenement House! Court Fr"e9 Landlord of Re-spons^iîity for Condition At¬tributed to Steam From StillsJustices Kernochan, Edwards and

Moss, in Special Sessions, held that alandlord cou'd not be accounted re-sponsible for the unsanitary conditionof rooms in a tenement when the ten-ants made a practice of distilling theirown liquor in the rooms.-The justices gave a susnended sen-

tence to the owners of a seven-story,twenty-six-family tenement house inGr-rnd Street. The owner pl-adedtruilty to violating the tenement houselaw in March last by having brokenplaster on the walls and general'y un-sanitary conditions existing in the,rooms, but explained that the tenantsof the building, contrary to the land¬lords' rushes, made a practice of hav¬ing barrels and stills in their rooms,and that the steam and cooking causedthe unsanitary condition. The inspectorof the Tenement House Departmentcorroborated this statement and saidthat many of the tenants of the bulid- jlag distilled their own Uquer.

I

Ilere and There in Real Estate Field With Camera Man

THOPOSED H112.CR.T~ST MOTEK S~id COUtfTRlf ClU8_ a*¿JAMAICA_yT.

j^-~~>i^>^ofthe. Greenwich__~-.-^SñVltiGS BRHk., UNDER.GOfiiSTJUlCTlOrt¿i BROADMRUAnd,

TR/RTjf-SJ^.TH Street

..^.»mmksw-'í&im«»:.!»»*»»»""- ........ ¦^í>*ÍS?SS»?S«!*,w~:-*.^ 1£¿SlOXG JSIMD Cljy pWSXliiiiGS WHICH ARE TO BE SOX.D at AUCTION by BAtfiWl J(£rtA!£lLy/He

«lu» If** fir** e Él*ifiÈt.P^jr .^J*'rwJSÍMlíFPv *p*ftrH£A/r

¿. _^_^COftSTRUCTtOßt ¿£~^^Z ^ORTHERSTCORREK.. «*/RIVERSIDE DRIVEAHAÍ09& STREET IU162 GERSl/töakä BENJAMIN P ti/ilRER RRS^TME OWRERS Atta. ßUJLDEJ-f

Interesting Stores 7nl Apartments project Pok.ZHAVISON AVENUE ¿ItvoL j$&it- STREET

Business BuildingsTo Replace SevenUptown Dwellings

Broadway Savings Institu-1tion Sells Houses in 45th!Street; French Cham¬ber Plans New Home

The Broadway Savings Institutionsold for a reported price of $435,000to the 159 West Twenty-fifth StreetCorporation (Henry Hellman) 71 to 79West Forty-fifth Street, between Fifthand Sixth Avenues, three three-storyand two four-story dwelling, 97.6x100.6.The property is assessed for taxationpurposes at $340,000. A tall commer¬cial structure will probably be erected.The bank took the property over fromthe McElroy estate about four yearsago. George E. Cohn arranged the sale.

William A. White & Sons sold forEdward C. Rise et ai. 20-22 East Six¬tieth Street, two four-story dwellings,44x100.5, to the French Institute in theUnited States and French-Amer.canChamber of Commerce. The buyers w.lldemolish the present buildings and im¬prove the plot with a building to housetheir activities.

Frederick Brown bought from theBowes estate 525 West 125th Street, a

four-story building, 25x100. Arthur F.Du Crest & Co. were the brokers.The five-story loft at 567 Water

Street has been sold by I. RandolphJacobs and Everett Jacobs to b buyerwho wili use it lor his own business.

Points To Be Consideredin Appraising Real EstateThere Are Ten, According toHerman De Seiding, Who WillName Them To-morrow

The regular monthly meeting of theReal Estate Club of the West Side Y.M. C. A., will be held at 6:30 p. m. to-mo»_ow at the association building.

i .man e ._e oms Wii. nam uic- tenessential points in appraising realeftate. W. H. Wyckoff, of Pease &Elleiman, will give a talk on the quali¬fications of a real estate broker, undMr. Harry Hall, vice-president of Wil¬liam A. White & Sons, will conduct aforum on the subject of "How to SellReal Estate."

Sales of Dwelling HousesAdolph Klein sold to Winifred Hunt

the four-story dwelling at 131 Westoevem..*-<.-ifelnn btreet, 18x102.2.Jennio bond sold to Annie Levine

the tht-ee.-story dwelling at 387 Man¬hattan Avenue, 18x50.

P. J. Lenahan sold to the Lou-ArtCorporation, the four-stor,* dwellingat 848 East 125th Street, 18.9x100.11.

Bunny Theater SoldH. E. Levy & Co. sold for the Olym¬pia Cinema Corporation 3580 Broad¬

way, the Bunny Theater, to Harry A.Harria, of the Bluebird Theater, Ams¬terdam Avenue and l_6th Street.

Highest Bidders Will GetLong Island City Homes

29 Two-Family Houses Still inBuilders1 Hands to Go

at AuctionTwenty-nine cozy looking little

homes, each with accommodations fortwo families, located just beyond thoLong Island Citv end of the Queens-hero Bridge, will be sold at auction onNovember 8 by Bryan L. Kennelly, Inc.,auctioneers.The buildings are new, still In the

hands of the T. C. Desmond Company,who built them. They are on Heiser'treet, adjoining the Queens Boulevard.The houses are Colonial and were de¬signed by Herbert Lucas. On the firstfloor there aro four rooms and on thesecond floor six rooms. They could bemade into single family houses withouta great outlay of money.According to the terms of the auc¬

tion a first payment of $2,000 will berequired from every buyer no matterwh; t were the figures he bid for theproperty.

i ue houses are close to the Blisstreet subway station. On the same

day Mr. Kennelly will offer for saletwenty-eight lots in the same section.The lots are fully improved, Mr. Ken¬nelly said, having concrete sidewalks,curbs, sewer, water and other sub¬surface improvements. They face onmacadamized streets.

White Racquet WieldersDefeat Noyes Team

Win Tennis Cup in Inter-OfficeContest; Battle Will Be Re-

cumed Next YearThe White tennis team.Mottela**

and Murray.defeated McBride andHimmelman, of the Charles F.. Noyesforces at the Pelham Country Club Inthe postponed match for the Inter¬office tennis cup.The Noyes Company had held the cup

since last year, while the ¿-Vhite officehad the golf trophy, wl ich it againwon through defeating the Noyes teamtwo weeks ago. The White force nowhas both cups and will hold them fora year, when the Noyes Company golf¬ers and net men will tr to bring themfrom Cedar Street to William Street,

--e_-

Union Temple of BrooklynPlans Large Synagogue

The ReaPy Associates, Inc., sold tothe Union Temple of Brooklyn the plotat the northeast corner of EasternParkway and Plaza Street, 58.6xl25xirregular, and the plot on the northside of Eastern Parkway, 84 feet eastof Plaza Street, 130.5x55.Ix irregular.The purchasers recently acquired at anauction sale held by the city the lotlying between these two parcels, andthe combined site will be improved witha synagogue.

Flat for Heights SiteM. Ï. Strunsky sold to Samuel Arin-

sky a plot on the south aide of 170thStreet about 150 feet east of FortWashington Avenue, who will immédi¬at,,!.- ,..,.«. n «vo.itnrv e\r,t\rtrr)ent.

Laws That RemedyOne Injustice

Develop OthersLondon Paper Says English

Rent Act Has Not HelpedAll; Thinks It Will NotBe Allowed to Expire

"As an outstanding instance of howattempts to remedy one set of Injus¬tices leads to the creation of another,Eniand's rent restriction act bids fairto 'beat the band,' says 'The OceanTimes,' of London."The working of It proved uneaual

from the start, and has gone on produc¬ing legitimate grievances ever since."Prima facie, it seems only right that

people who have got to maintain a roofover their head should not be drivento the alternative of beggary or evic¬tion."But it Is one thing to theorize and

another thing to bring the theory intofairly workable practice."The result of forbidding the turning

of tenants out of their houses so longas they pay their rent, or even so loniras, in the opinion of the magistrate,they are honestly endeavoring to payhas given rise to thousands of eases*such as the following plight of a frugalwidow:

" 'With my life savings I bought ahouse at Brighton. Then the act wisrassed. I could not pet in. My hus¬band and I are forced to live !n a dampand dreary basement paying £1 aweek, while the tenant who keeps usout of our own pays us 18s. 6d., fromwhich the government deducts ratesand taxes, while he sublets to tjhe tuneof a rate and tax free £6 a week.'"The act is due to expire next year,

but it is very doubtful whether it willbe pll-iwed to do so."Vested interests have been created

which are already fighting tooth andnail to secure its continuance."The 'lobbying' and intrigue which is

sure to go on when fie matter comeson for settlement is appalling to. con¬template."

e

Marshall Field IncreasesEast 70th Street Holdings

Marshall Field, it is learned, is thebuyer of the dwelling at 8 East Seven¬tieth Street, sold recently by Le RoyW. Baldwin. Mr, Baldwin proves, inturn, to be the purchaser of the dwell¬ing at 12 East Seventieth Street, soldby Clara F. Wolf. Both «a'es weremade through William B. Mays & Co.The former adjoins the site of the pro¬posed Field residence.

¦

Option to Buy Goes With LeaseOf Wash-n-rton St. BuildingThe Broadway-John Street Corpora¬

tion (E. A. Cohen) leased from EdwardC. Maynard the five-story building at228 Washington Street, 22.3x55.6, fortwenty-one years from next Januaryat an annual rental of $1,800, with atwo twenty-one-year renewals on a 6per cent reappraisal basis. The leasealso carries an option to purchasewithin a year. Mr. Maynard recently

r-'---1New York Has !So

Shortage of HomesNew York is one of the few

cities of the country which is notconfronted with a shortage ofhomes, according to a survey ofreal estate conditions compiled bythe National Association of RealEstate Boards, which met here a

week ago. The survey covers 146cities located in every section oftrie country. Only forty-threecities, one of which was NewYork, have reported an amplesupply of homes. The informa¬tion was supplied to the bureauof information of the nationalboard by the local committee manin each city. The survey says thatNew York is overbuilt in high«¿lass apartments; that walkupapartment houses rent from $6 to$14 a room; that loft space rentsfor $1 to $3 a square foot, andoffice space for $3 to $8 a squarefoot and stores for $50 for 2,000square feet. It says that the de¬mand for residential property Isgood, but that the call for busi¬ness property is slightly underthat displayed last year. Laboravailable here is low in efficiencyand scarce in quantity. Moneyfor mortgage investment is fairlyplentiful. The rates for moneyare given at 6*vi*and 8 per cent-There are only two cities In the146 reporting, which have cheap¬er money. They are Buffalo andTujunga Valley, Calif. Theseconditions are of October 9.

2,939 Realty ConcernsWere Formed Last Year

Secretary of State ReportsRealty Business Is

PopulcrInco*-Doratîon at Albany during 1921

of 2,939 real estate companies, accord¬ing to the figures of Secretary of StateJohn J. Lyons, gives some indicationof the great extent to wh'ch doingbusiness under a corporate fonn h«*scrown since it had its beginning abouttwenty years ago. There weie proba¬bly a few hundred companies up tothat time.Secretary Lyons reports that 16,089

stock companies were formed during theyear just passed, with realty headingthe list. Of the total 13.C97 are fromgreater New York and 10 466 fil"d cer¬tificates in the Manhattan CountyClerk's office during 1921.

» . a ¦"¦

John F. Norman Acquires$60,000 Home at Spring LakeJohn D. Miner sold the Edwin D.

Belknap property at the northwest cor¬ner of Adrian and Ludlow avenues,Spring Lake, N. J., to John F. Norman,vice-president of the Bige'ow-Hart'ordCarpet Company. The property washeld at $60.000. The same broker solda plot at Manasquan, N. J., to Ray¬mond L. Parkhurst, -who will erect aresidence.Arthur C. Haggstrom, of the Hagg-

".Uom-Callen Ccmponv. purch««,«?'*' theColonial McCoy residence at PalisadeAvenue and Thirty-.ourth Street, over¬looking the Hudson County Park andthe ifud.oB Biv.f (rt WoodeUff-os*»-Hn<"'*»»rt.

How to SafeguardCharacter of YourHome Section

Fire Department Championof Zone Regulation ;Ready at All Times toEvict Those Who Violate

By E. M. BassettNearly every one knows that the zon¬

ing resolution prevents the invasion ofresidence streets by business, but oftenresidents do not know how to bringabout the enforcement of the law. Inthe first placo a business that was lo¬cated before July 25, 1916, when the zon¬

ing resolution went into effect, is per¬mitted to stay. If, however, the objec¬tionable business was started afterthat date, the objecting residentsshould mail thetr complaints to theFire Department, Municipal Building,Manhattan. The complaint shouldstate that the business was startedafter July 25, 1916, and also what theoffending business is. The reason whythe duty of enforcing the law againstnon-conforming uses was placed uponthe Fire Department was because itcovers the entire city, has outside men

and has long carried on a system ofinspection- and notices for .arious pur¬poses. It was not because these viola¬tions have anything to do with fire. Itwould have been natural to place thisduty on the Building Department, butas there i-re five building departments(one in each borough) it was thoughtthat five different methods of enforcingth» law might gradually grow up.The next question is what uses In

a residence district Rre not violations.Boarding houses, hotels having morethan thirty rooms, clubs, churches,schools, libraries, asylums and hos¬pitals are not violations. Accessoryuses customarily Incident to using ahouse as u home are not violations. Adoctor, dentist, notar , lawyer, musicteacher, artist or sculptor can, if heresides on the premises, pursue hiscalling and put out a small sign. Hecannot put out a display sign.A garage for not over five cars ac¬

cessory to a residence is not a viola¬tion. It would have been much toodrastic to try to prevent ordinary homepursuits. The test should be whetherthe pursuit is incidental to actual resi¬dence, whether it has been customaryin homes, whether it needs a displaysign or whether a considerable numberof people other than the resident areemployed. If the business becomes themain thing and residence omy an inci¬dent, then it is not allowed. The busi¬ness must ue customary and a so inci¬dental to the residence. For instance,a restaurant, a store, a group of of¬fices, storage of articles for sale, orindustry of any kind requiring a num¬ber of emp'o ees is not allowable. Itmay be said that no si jps can be dis¬played excepting those, of professionalpeople.

It is difficult for th«" Fire Depart-ment to know what business was 1c-cated before July 25, 1916, but ownersand residents in the locality alwaysknow. On this account the departmentis not to be blamed if it sometimesawaits complaints. Sometimes the FireDepartment properly asks the com¬plainant to furnish an affidavit. If theobjectionable business does not stopafter notice from the Fire Departmentthe department transmits the violationto the penalty bureau of the law de¬partment. The offender ean thus bebrought before a magistrate, Lapse oítime or the existence of other viola¬tions will not justify an offender. Therales which apply to private restrie-

I tions *.**> not apply to the soninff.

Flat BuyersActive inMany Zones

Graylene and Other LargeWest Side Houses Fig¬ure in the Buying; Ac¬tivity on the East SideMiss Edna L. Efnblgler sold to Ennfe

A Slnnott the Graylene. at 610 West182d Street, between Broadway andRiverside Drive, a six-story elevatorapartment, en plot 75x100. containingsuites of five, six and seven rooms.Charles S. Köhler, Inc., negotiated thedeal. The seller was represented byJacobs ft Livingston, attorneys.The V. Green Construction Company,

Vivian Green, president, purchasedfrom the West Side Holding Company,Charles W. Wynne and Louis H. Low20, 80 and 82 West Sixty-fifth Street,between Central Park West and Broad¬way, three apartment houses, on plot66x100.

E. Francis Hillenbrand and th*Pierre & Golden Company sold for theG. & E. Realty Company to NathanWilson the six-story walk-up apart¬ment known as the Carpathian, withfourteen stores, at the northwest cor¬ner of Amsterdam Avenue and Eighty-fourth Street, on plot 40x100. The sell¬ing company acquired the piopertyfrom the Margaret E. Hughes estatelast April through a series of dealsarranged by Mr. Hillenbrand.

Doctor Buya Studio ApartmentWalter M. Wechsler sold to Dr.

Samuel Abraham 110 West Eighty-ajxthStreet, a five-story studio apartmentcontaining ten suites of two rooms andbath each, 20x102.2. The broker wasGustave Schneider.Max N. Natanson sold to Vincent»

Romano 716 and 717 Tenth Avenue, twofive-story fiats, 50x21.2x100. Thehouses were sold for all cash over firstmortgages. These are two of thetwenty houses recently purchased byMr. Natanson from the William Wal¬dorf Astor Estate. S. Scarpati was thebroker.The American Realty Company, Inc..

J. E. Mautner president, purchased248 to 258 West 144th Street, six four-story tenements, 120x100. Max Mon-fried represented the purchaser.

Louis F. Sommer sold for A. L.Larken 79 West 102d Street, a flvs-story flat, 20x100.Emma Von Beren sold to Rebecca

Finestone the five-story rial at 61 East118th Street, 30x100.11.

Flora Bachrach sold to the VollnRealty Company the two flve-story flatsat 120 to 126 West 139th Street, 5i»99.11.The Sterling Properties Corporation

sold to the Sarson Realty Corporationand Benjamin EDrllch the five-storyapartment at 230 West 141st Street.87.4x99.11.James Kyle & Sons sold for Miss

Sarah E. Pinckney the flve-story apart¬ment at 153 East Forty-eighth Street,25x100.John Flnck sold 421 East Eighty-

second Street, a flve-story flat. 25x100,for the Louise Glogger estate; 884-688Ninth Avenue, two four-story tene¬ments, 31x70, for the Mary Jordan es¬tate, and 227 East Eleventh Street, a

four-story house, 25.6x100, for A. L.Gordon.The Hudwlll Corporation sold to

Samuel Z. Toutounjian the four-storvtenement at 812 East Thirty-seventhStreet, 20x98.9.

Greenwich Village Rouses SoldThe five old five-s-tnry flats »t the

southeast corner of Bank Street andWaverley Place have been purchased byHarris and Maurice Mandelbaum andFisher and Irving I. Lewine from thoGeorge H. Foster estate, which ownedthem for about fifty years. The housesfront 65 feet on Bank Street and 60feet on Waverley Place. The buyerswill alter tfic houses into suites oí tworooms and bath.Frank Anderson sold to Susan J.

Irwin the five-story tenement at 320East Twenty-fourth Street, 25x98.9.Brown, Wheelock-Harris, Vought ft

Co., Inc., sold for Catherine Hagan toFrank Sullivan 794 Second Avenue, afour-story tenement, 20x80.6.Louis W. Osterweis resold the flve-

story brick tenement at 619 East Six¬teenth Street, 25x92. John Peters was ,the broker.Nathan Fronder sold to Angela Cer¬

velle, the flve-story tenement, withstores, at 640 East Eleventh Street,25x24.9.

Marguerite Dodger eeli to Marga-rethe Sauer the flve-story tenement,with store, at 624 East Sixth Street,24.9x97.William H. Unmann sold to John Bf.

Gsimarl the three flve-story tenements,with ctores, at the southeast corner orCherry Street and Catherine Slip,63x80.4.

Many Find WestchesterHouses to Their Liking

Several Homes in Mount Ver»non Sold; Buying of Dwell¬

ings in Other SectionsR. R. Ragette sold in Mount Vernen

the dwelling of Mrs. Laura Walker atWestchester Park, 15x100, to Mra. M.May; a new two-family dwelling at 290East Fifth Street, Langdon Terrace, toIsidor Kadis, of Milwaukee; the dwell¬ing of J. Wilson Bryant, at 842 NorthFulton Avenue, to Warren Thuramet, ofStamford, Conn., and the two-familydwelling of Mrs. Mary Raymond, at 10and 12 McClellan Avenue, to JacobPortman, of this city.The two and one-half story dwelling,with garage, at 76 Belvedere Drive,

Yonk«*rs, has been sold b? the NewYork Trust Company, as ¿xev«.*. *¦-**¦

the estate of the late Walter H. Beeb«.-to Harry K. Watson. Thomas S. Burkswas the broker.Howe ft Thompson sold for Edith L.

Just an English type of residence andgarage on Ln-t?" Avenue, Whits Plains,N. Y. to Elsie a. '.Jloomb-.rc. bald .»**$16,000.

Charles W. Wynne and Lout« R. Lowresold 18 Elmwood Avenue, Rye, athree-story dwelling, 50x100, to theRev. Alexander Hamilton, who lastweek purchased the adjoining housethrough Cyril Gordon Cash.

Tijs Scarsdsle Estates, Robert F-.Farley, president, sold s plot in thei*Greenaeres seetion of Hartsdale to Dr.Elizabeth Adsmson, of Whits Plains.

Commissioners for ClosingOf Old Bronx Lane

Frederick M. Hilt««-*, i_»íe*3íi*-» «*_fWilliam A. White ft Sons; Charlea £=.Hillee, of Dwiffht ft Kîiîes. end WilliamK. Dupre Jr. have been appointed com¬missioners in the matter of the elosinf*>** Reid». Mill Lane, in the Bronx.