The Herald-News from Passaic, New Jersey • 9

Marlboro House First i To Offer Sauna Baths The Herald-News, Friday, February 24, 1967 9 a 'Build to Suit' Industrial Programs Called Passe- Industrial Concerns Want Structure Underway Before Leasing, Sanzari Says Passaic Apartment Building Sold PASSAIC The 11-unit apartment building here at 127 Mar ket has been sold by the J. I. Kislak Organization for Robert Kutcher of Hillsdale Buyer was Broad Oaks Business Forms, which operates a plant nearby. Attorneys were William Sellinger of Passaic, representing the seller, and John Kiser of New York, acting for the buyer. a laundry room wth washer and dryer on each floor.

Master television antenna and pre wired phone outlets are built in. Parking, both outdoor and ground-level indoor, has direct access to the lobby. The high-rise features 24-hour doorman service, and maximum security measures with inter-com i system, burglar alarm and high-speed elevators. Rentals start at $132 monthly, with all utilities, and pool and sauna privileges included. In the Beautiful Lake Hiawatha Section of Parsippany! 45 Minute from Nowork and NXC.

Facing Knoll Golf Club Largo Private Balconiel Privota Cabana Club (Ono of largoit In N.J. with t.nnl, voll.yball, fcaik.tball, Schools and Shopping within walking distanca Hundreds of signs on industrial 4 mi. (I BH) 115 5 RU. (2 DR.) 150 Gov't's Efforts Expected To Stimulate Housing RIDGEFIELD PARK -Marlboro House, this villages 7-story luxury high-rise, is offering another "first to tenants authentic Finnish sauna baths The sauna baths are part of the on-site recreational and health facilities provided at the 139-unit apartment complex, along with a 3rd-floor level outdoor swimming pool now being readied for early summer use. The only high-rise in the Bergen County area to feature the Finnish import, Marlboro House has consistently placed the health and comfort of its tenants foremost.

Its good, common sense, reports Philip Wolkis, director of rentals for C.B. Snyder Organizations, exclusive rental agent, "and a valuable renting tool. The owners realize healtheir, happier tenants will stay longer and the fact that the saunas and swimming pool are right on the premises is a strong attraction and a great "added extra. Saunas (dry heat bathing) are a national institution in Finland and reputed to be a standard equipment in almost every home. The apartment complex at 265 Main St.

was designed by Martin, Gebhardt and Di Paola, A.I.A, Fairview architects and constructed by Enterprises, Inc, of Hackensack. The fully fireproof building offers 11 div-ferent apartment plans, with studios, one and two-bedroom apartments. All apartments have outside exposure with light and views afforded by the Y-shape construction and the majority of the apartments have walk-out terraces. Centrally air-conditioned, the building features individual climate-control, all electric kitchens with dishwashers, and A concerted effort by the Gov- Incl. hoot, hot water, FEDDERS air 150 of f-street parking GCTOUL OFF NORTH BEYEHWYCX ROAD, LAKE HIAWATHA Parsippany-Trty Hills, N.i.

Agent on Premises 335-0822 DIRECTIONS: Rt. 46 wart to No. Bovorwyck Parsippany-Troy turn right towards Lako Hiawatha) approx. J4 ml. to Mora Rd Knoll Gordons.

than land that the developer would adapt to their needs. In effect, the industrial build er who proceeds with his construction before Si lease has been signed is operating on specula-, tion. Not every company can afford this program, but Alsan Realty has never progressed beyond the point of enclosing the plant before a lease has been signed. With the plant fully enclosed, the interior work can be pushed along rapidly. The special plumbing and electrical work needed by the tenant can be installed before the slab floor is laid and the "bay construction possible with an all-steel skeleton can be expanded to provide extra space if It is needed.

Sanzari, former president of the Builders Association of Northern New Jersey and Builder of the Year in 1965, had similar experience in his decade of home building. In the case of home buyers, though, it was a case of an inability to visualize what a home would look like before a model was completed. With the industrial tenants, it is a case of too much foresight: They can see what a shortage of steel could do to their plans and they dont want to take a chance by getting involved in a "build to suit project. Old Street Signs Sold NEW YORK Want to buy an old Manhattan street sign? You can. A Manhattan advertising woman sells them at $5 each.

Many go to persons who want a sign from the street of their birth. a I COMING SOON! Section 3 property throughout the metropolitan area carry the legend Will Build to Suit. According to one prominent industria developer, though, such signs are passe in todays market. Alfred N. Sanzari, president of Alsan Realty Company 01 Hackensack maintains that industrial concerns today are interested in seeing a building under way before they will sign a lease.

The "build to suit1 program has many drawbacks the industrialists have found and most specialized equipment needed in manufacture can easily be provided after the build ing is under way because 01 modern construction techniques. The principal problem with the "build to suit construction has been the uncertainty of delivery dates. Although contractors act in good faith, they are powerless to meet deadlines when thwarted by such things as a steel shortage or delays in delivery of materials Steel is the big factor, Sanzari says. He speaks from the experience gained on his recently completed Horizon Industrial Park in Little Ferry and on his new job in Moonachie, thejfori zon South Industrial Park. Not only are there delays in production, but also in fabrication and delivery, the Alsan Realty presi dent says.

This qan frequently delay a building program for as much as six months or more. After the structural steel is in place, the forecast of a delivery date can be made with greater accuracy. Thus a plant seeking to relocate would be more interested in a building under way Hilli, and ket and making credit generally easier so that nothing more will be done. However, there are still others who expect the per cent Federal Reserve discount rate to be lowered if it is believed in Washington that more stimula tion is needed for the credit machinery. Toomey doubts this because he believes that the banks already have ample funds on hand for the anticipated demands that 1.2-million home starts a year would present.

Savings bank have recovered the funds they lost in early 1966 when the certificates of deposits caused violent swings in the money market, Toomey. says, and the savings and loans have recovered too. As a result, all of these institutions have money that they are eager to get out. Fortunately, there has been a general lowering of interest rates abroad, too, so that there is unlikely to be a rush of "hot money abroad seeking higher rates. The Government is concerned about this problem, Toomey believes, but he contends that the reaction to combat it will be much qucker than was the reaction to the low-ceiling certificates of deposits, which helped throw the housing industry into its worst slump in a decade.

rmts-wsw feii eminent to lower interest rates and stimulate housing will probably be felt in the market by late spring, Justin R. Toomey, president of Toomey Mortgage Company of Hackensack, declared today. Toomey predicts that ample mortgage money will be available through the rest of the year, with interest rates expected to slacken off from their current 6 per cent by summer. Among the signs in the program toward a lower interest rate is the reduction in yield on Government securities. Shortterm Government notes that were yielding 5.4 per cent 90 days ago are now finding a market with a 4.86 yield, the Toomey Ultimately, Toomey says, the program will have to have its affect on depositors of banks as well as the borrowers.

This means that the Government program on interest rate will probably see may institutions retreating from the high yields of .25 that they are offering, with a more realistic figure of 4.75 as the probable top limit within six months. Of course, the Toomey Mortgage president concedes, much depends on the further action of the Government. There are some experts who believe that in its purpos of pumping more money into the mortgage mar jr to Mt. Pleasant turn left to MT. PLEASANT VILLAGE GARDEN APARTMENTS.

Managing IAIICC UAUCflU Mortg. Co. Agents JAMES E. HANSON Realtors CALL: WEEKDAYS 489-5532 SAT. SUN.

489-5736 1 ii at Randolph Off Route 10, Randolph Twp. (Morris County), N. J. GRAND OPENING! IMMEDIATE OCCUPANCY AS NEW AS TOMORROW! 2-STORY APARTMENTS! BALCONY APTS! PRIVATE SWIM CLUB! The newest apartments under the the luxuries the greatest, and tha sun I Tha features are the latest, value ii unbeatable! You'll en-oy private entrances, 16-ft. bedrooms, dream kitchen with 2- door refrigerators, formal dining rooms and the closets are enormous.

And you're surrounded by every convenience come see! FROM 115 MO. HEAT HOT WATER COOKING GAS AIR CONDITIONER OFF-STREET PARKING INCLUDED IN RENT OPEN DAILY SUN. TO DARK PHONE 227-1192 EBWATOS GARDENS EDWARDS RD OFF NEW RD PARSIPPANY-TROY HILLS, N. J. DIRECTIONS: Rt.

46 west ta New Parsippany. Left an New Rd. (use fug handle turn) to and and Edwards turn right to Edwards Gardens. AGENT: BARRY NORMAN AGENCY, PARSIPPANY a 33S-5000 1 and 2 Bedrooms from INCLUDING ALL THIS: Cabana Club Cooking Gas Air Conditioning Dens Private Courts Heat and Hot Water 200 Parking Playgrounds Full Dining Roams Storage Laundries frozen food capacity you can buy in any General Electric DIRECTIONS: Route 10 west to Center Grove Randolph Twp. lot Mobil Station); right to Hamiltonian OR Route 46 west to Route 202; then south on Rt.

202 to Route 10 (of Llewellyn Farms Restaurant); then west on Route 10 os above. Rental Agent: JACOBSON, GOLDFARB TANZMAN Apartment Phone: 366-1808 A HUGE 156-lb. ZERO-DEGREE FREEZER! AUTOMATIC-DEFROST REFRIGERATOR! N. J. Building Pacts Rise In December TRENTON The number of new residential units authorized by building permits in New Jersey increased by approximately 200 from November to December to 2,014, as it rose for the first time in four months, according to the monthly report of the New Jersey Department of Labor and Industry.

All of the reported gam was in 5-or-more-family apartment units, which rose by roughly 500 to about 800 during December. Authorization in the 474 municipalities reporting also included 1,074 singlefamily homes. Only three munic'palities reported authorization of more than 100 units during December. Maple Shade Township (Burlington County) reported the greatest number 385 units in a four-building high-rise apartment complex. In Dover Township (Ocean County), 51 single-family homes and 168 garden apartment units were authorized; and in Piscataway Township (Middlesex County), authorization of a 90-unit apartment building and 58 single-family homes was reported.

Authorization in five New Jersey counties accounted for approximately half of all au thorized in 1966, on the basis of preliminary totals. Middlesex County led in authorizations, with 5,623 units reported thus far. Other leading counties, in descending order, were Bergen, with 4,344 units; Essex, with 4,272 units; Ocean, with 4,078 units; and Monmouth, with 3,925 units. The statewide total for 1966 stands at close to 46,000 units, but thislsTnibjecttaTipward re vision on the basis of supplementary information being compiled for municipalities not responding late to the monthly survey. i We'll give you one of these if you can find any bank in Passaic or Clifton that pays higher interest on regular savings accounts.

HUGE ZERO-DEGREE FREEZER biggest ever in a G-E '16' keeps food safe indefinitely! NO WEEKLY CLEANUP Auto-defrost refrigerator. 4 shelves: 1 slide-out; 1 adjustable for party and holiday needs! Package rack keeps freezer neat! TALL BOTTLES, CARTONS STORE IN DOOR! Temperature control! Twin vegetable bins hold bushel! 18-egg bin! Butter compartment! No coils in back fits flush at rear! AND MUCH MORE! NO DOWN PAYMENTT EASY TERMS I 4- sc PUNNED APART FROM THE ORDINARY GENERAL ELECTRIC 28" WIDE 2-DOOR 12 Big Zero-degree freezer holds 91 Auto-defrost refrigerator section! Huge full-width vegetable bin! $199.95 Model TB-12MC 11.8 cu. ft net vot. GENERAL ELECTRIC BIG 2-DOOR 14 Huge, 132-tb zero-degree freezer! Auto-defrost refrigerator sectionlTwIn vegetable binsl Slide-out shelfl $229.95 Model TB-14SC 13.5 cu. ft net vol.

General Electric Refrigerators carry a one-year repair warranty against manufacturing defects on the entire refrigerator with an additional four-year warranty on the sealed-in refrigeration system. Quality Service wherever you live -Minimum Retail Price ARD 9-story Elevator Building 512 Bloomfield Ave. Caldwell THE HEART OF ONE OF THE MOST DESIRABLE PRESTIGE RESIDENTIAL COMMUNITIES. Studio, 3 3V2 Room Suites from FREE GAS Professional Apts. Avail.

CENTRAL AIR-CONDITIONING with INDIVIDUAL CONTROLS ROOF-TOP. SUN DECK CALORIC DISHWASHERS IN ALL 3, 314, ROOM APTS. CALORIC WALL OVENS RANGES GE REFRIG-FREEZERS GARAGE ON PREMISES EXPRESS BUSES TO NEWARK, JERSEY CITY. NEW YORK NEARBY Furnished Model Aportments RENTING OFFICE on PREMISES OPEN DAILY 8. SUNDAY -228-42Z7 Renting Managing Agent Charles H.

Greenthal Co. 18 EAST 48 ST. 212 PL 2-47X MORE INTEREST IN YOU AND FOR YOU You May Order the Models Shown Through Us, Your Franchised G-E Dealer. See Our Current Display, Prices and Terms. fMM Ml 73 Lexington Avenue Bank Passaic Clifton PASSAIC: Main Main and Passaic Avet.

Drive-In Annex: 14 Passaic Ave. Passaic Park: Main and Van Houten Aves. CLIFTON: All wood: Slyerlowne Shopping Center Richfield: Richfield Shopping Center Plaza: Clifton Plaza Shopping Center PASSAIC PR 7-6133 Open Wed. Sot. 9:30 to Mon.

Thurs. Fri. 9:30 to 9.