The Brooklyn Daily Eagle from Brooklyn, New York • Page 26

Be THE BROOKLYN DAILY EAGLE. NEW YORK. SATURDAY. APRIL 17. 1909.

HE EAGLE'S -SATURDAY REAL ESTATE PAGE THE CONNECTING RAILROAD. GREAT L. I. AUTO WAY; BRIDGE 10 RIVERHEAD guests in the way of oratory and entertainment features. It is believed that on? or two operatic stars have been secured to enliven the event, but Mr.

Cowley is not inclined to disclose their names in advance. There is an unusual demand for tickets, and as regards both the character of the guests and the prominence of the speakers the banquet promises to be a brilliant affair. cause of various conditions, like chance of transit or change of population. "In New York and Philadelphia it is possible to further protect an investment by having the payment of principal and interest guaranteed by companies which do that business. Where the investor is not familiar with mortgage investments, such a plan is one which should be adopted.

Those who live outside of the city can buy mortgages from these companies in tbe city, where the guaranteeing assumes the responsibility for the investment, but turns the securities over to the investor, so that In case of any failure on the part of the guarantor the investor still has a first mortgage on the property. There are many other conditions which need attention in mortgage Investment, but those are matters of advice as to management and not as to investment." THE REALTY MARKET MAINTAINS ITS STEADY AND FIRM ADVANCE Demand for Available Building Property Ahead of the Supply in Some Sections Activity in Long Island Estates Stimulus to Brooklyn Market by Prospect of Important Public Improvements Demand for Ferry Facilities in the Eastern District To Link Highland and Forest Parks Popularity of Queensboro Bridge Progress in Manhattan Structure Hudson-Fulton Celebration. plot, 60 feet north side of Whitney street. 210 feet east of Crescent; and still another, 51 feet southeast side of Van A 1st avenue and 60 feet southwest Bide ot John street. The Everett Realty Company sold to George M.

Stumpf a plot 200 feet northeast side of Pierce avenue. Long Island City, 175 feet northwest side of Steimler street and 175 feet southeast Bide of Grace street, subject to a mortgage of $7,500. Tbe Yeagley Realty Company has sold to Ruby Realty Company twenty-three lots, map of Eldert Park, at Woodhaven, south of Atlantic avenue near Klngi County line. The lots are said to be worth $30,000. The sale was made subject to a mortgage of $24,150.

NEW L. I. BUNGALOW COLONY. The Van Fossen-Bugg Company has Just purchased a tract of ninety acres at Westhampton, L. and will develop It Immediately into a bungalow colony, under the name of the Washington Beach Bungalow Association.

The property is within 1,200 feet of the Westhampton station. MORTGAGES AS INVESTMENTS. Views of Frank Bailey of Title Guarantee and Trust Company, in Response to Query, A correspondent of the Eagle desires information in regard to mortgages, which would be of practical value to those thinking of investing their means in that direction, showing the methods of protecting capital so invested and the tacts which would tend to give confidence to the investors. The query was referred to Frank Bailey, vice president ot the Title Guarantee and Trust Company, and he says on the subject: "Mortgages represent a type of investment quite distinct from any other kind of Investment which Is popular. That distinction Is especially In the fact that they are practically unmarketable, i.

you cannot quickly realize on them. And, second, that they do not afford any opportunity of profit, and If wisely selected, but little opportunity for loss. The marketability feature of a security must be paid for by the investor in a reduced rate of interest, and in a probable loss in the amount of the principal in case necessity requires quick realization. For instance: If you wish to buy a high grade bond, and are compelled to realize In a panic, the chances are that you will lose at least 10 per cent, on the principal of your investment. "Mortgages should be principally taken by people who have a fixed amount of capital, who should not speculate and who desire to obtain a fair rate of Interest for the use of their money.

An Investor having decided upon mortgages as the proper way In which to use his capital account, should go about his work carefully and considerately In order to be sure that even in this class of lnvest- would be required. With this added connection In tha park and parkway system of tbe Long Island portion of the city, additional facilities for making use of the great pleasure grounds will be provided. While tbe Queensboro Bridge Is proving Its popularily as an object of Interest to the many thousands of persons who cross it on pleasant days, the demand for means of transit pending the construction and operation of car lines over It Is Insistent. The latest proposition to supply this is to operate a line ot omnibuses on the roadways of the structure and It Is probable that this plat) will be put In operation. The difference In design of the Queensboro cantilever structure from tbe older type of suspension bridge over the East River, is the thing which most impresses tbe visitor to the newer one.

The preparation for Its formal opening, two months hence, are being made with care and thoroughness. The progress of work on the newest aerial highway linking the boroughs, the Manhattan structure, is regarded as marvelous by those who keep dally watch of the operations. The steel structure was all In readiness before tbe task ot putting It In place was begun so that there has been no delay from a lack ot material. The contrast between the pushing of work on the structure and the delay In making the approaches to It ready for use is a sad commentary on the supinenesa ot those in charge of public improvements. Brooklyn is to have its share in the Hudson-Fulton celebration as shown by the formation of a big committee to rep-recent this borough in the-expenditure of the large sum which city, state and private munificence will provide for tho delectation of the great publio which has grown up about the scene, 300 years ago, of the arrival of the first white men in the region.

The total expenditure is estimated to aggregate over a million dollars. It should bring to Brooklyn a considerable share of the visitors to the metropolis for the celebration and serve to make more widely known the attractions of the Borough ot Homes. ONE OF THE FINE HOUSES ON BEDFORD AVE. Former Home of Marvin R. Cross, No.

499, Sold by G. P. Truslow Company, Brokers. Bridge- to Be Built Over Hell Gate, Joining the Bronx and Queens. That work will soon be in progress on the construction of the proposed four-track road over a Hell Gate bridge from Port Morris to the northern sections of Queens Is practically assured as the re suit of a series of conferences held at Now Haven, between the officers of the Pennsylvania and New Haven sys terns.

The subject of the projected road, commonly known as the New York Connecting Railroad has grown In importance with the rapid progress of the Pennsyl vania-Long Island Railroad Improvements. According to the officers of the New Haven road all tbe land needed for tbe approach to the proposed Hell Gate bridge has been acquired as the result ot quiet purchasing. On the Long Island side extensive purchases have been made by the Pennsylvania Company. The acquisition of rights of way has involved an outlay of about W.iou.uoo. A rough estimate places the total cost of the line, including tbe bridges con nectlng Randall's and Ward's islands with Port Morris and the northern part of Queens, at $25,000,000.

The New York Connecting Company was Incorporated to finance the line. After the conferences It was announced that thlB would probably be done by issues of mortgage bonds guaranteed by the Pennsylvania and New Haven companies. The Droiect is one of the most impor tant In connection with the building of transportation lines to Queens and the connection of that borough with lines reaching all parts of the country. As planned the new railroad will connoct witn the Pennsylvania-Long Island system at three points. At Tnompson avenue connection will be made with the North Shore Division to Flushing.

Malba, Whitestpne and Port Washington. At Calamus road the road will cross the main line of tho Long Island system and at the boundaries ot Glendale and wil llamsburg a connecting point is established with the line to Richmond Hill and Morris Park. Announcement is also made by the Long Island Railroad of rapid work on the electrification of the main line to Jamat ca. This work will be completed in a few months. The mechanics and laborers will then be transferred to the North Shore Division, which will be double tracked and electrified from Long Island City to Whltestone, Malba and" Port Washington.

After the completion of this work the system will be extended east and south. DEMAND FOR ARVERNE SITES. In Most Cases Buyers Propose Build for Their Own Occupancy. to Of the realty movement on Long Island Louis J. Somerville of Somervllle Som-erville, selling agents for Arverne's new addition, says: 'There are a number of skeptical people who view the large number of Long Island developments with pessimism.

They contend that the supply of home sites is far in excess of the demand for years to come. And many are inclined to believe that speculation is the ruling element'ln to-day's realty market, rather than an actual demand for home sites. "During the winter months at Arverne there has been a constant demand for property, in Its then unfinished state. And this demand came from the immediate vicinity of Arverne. In most case3 the buyers were people who Intend building for themselves within the year, and with no thought of speculation.

"So confident are we of Arverne that our new addition will have been entirely sold out by fall, that we have purposely overlooked provision for the tide of population that will flow through the great East River tubes." THE CHARM OF OAKDALE. More Bungalow Plots to Be Put TJp at Auction for Peperidge Hall Estate. Along the shore of Great South Bay are the homes of wealthy families, and on the South Country road, east of Baby lon at Intervals are several -moderate developments. For many years tho securing of a suitable location for a home in the Oakdale section has not been easy, and the demand for home Bites there has resulted in the opening up of the Pepd- ridge Hall Estate, with its beautifully shaded, sloping grounds, well above the bay and with an unobstructed and accessible water front. The South Sido Sportsmen's Club, is the center of social life in Osidale.

It has a golf course Idle Hour, the home of W. K. Vanderbilt is on Great River and directly adjoins the Peperidge Hall Estate. Prices for land at Oakdale arc low in comparison with other sections. Encouraged by the brisk demand for bungalow plots at Oakdale, W.

K. Aston has directed Bryan L. Kennelly to sell another portion of his Peperidge Hall Estate on and near the shore of Great South Bay, in plots 75x150, at the Vesey street salesroom, on Monday, April 26. The property is carefully restricted against undesirable encroachment and indiscriminate building. ThT care of bungalows and power boats when not in use will be assumed by the Peperidge Hnll Estate.

LONG ISLAND SALES AND LEASES W. Burling Cocks and Samuel Wlllets have Bold the Courtney McLaughlin farm at Brookville, L. to W. J. Bucknall; the Alfred C.

Baylis property at Locust Valley, L. to Mary C. Rennard, and the Elbert Isaac Luyster and J. A. Hegeman farms at Brookville, L.

to Mollie Maxwell Davis. The same brokers have leased the William C. Pate place, known as Royston, at Locust Valley, L. to R. G.

Barclay; the J. N. De R. Whitehouse property at Roslyn, L. to C.

I. Hudson; the Frederic P. Moore place at Glen Cove, L. to Charles W. McCann, and the Henry F.

Noyes place at Red Spring, Glen Cove, L. to Arthur Gibb. COUNTY. have right here' at their doors. It was a revelation to me, and I venture to say that the average person, or even the man who Is most familiar with this territory, has no conception of the development that Is coming to It.

I Bay this because my exploration of this section, while in search of rest and health, Imb shown fine residential attractions in the way of beautiful sites, convenient to the city, nearby country clubs and facilities for outdoor Motor Parkway Managers Acquire Strip From Mineola to an asset. WILL GO TO FLUSHING. Big Lot Sale on Thomson Hill, I. City of $150,000 Other Important Seals in Queens. The fact has leaked out that the Long Island Motor Parkway people have bought a tract 100 feet In width through the town of North Hempstead, all the way from Mineola to Port Washington.

Surveyors who have been at work on the line for two or three days past, say that It is the company's intention to complete the purchases of the necessary property to carry the parkway to Flushing, or within about six miles of the New Queensboro Bridge. It is thought from that point an arrangement can be effected with the City of New York whereby a speedway can be built through the town of Newtown and a short section of Long Island City to the bridge. This would give a broad thoroughfare thai would be used exclusively for automo biles, and thus relieve the Queens high ways of much of the congestion and dan ger caused by the high speed machines and would create a popular route In connection with the bridge that would be patronized by automoblllsts in the season to the number of ten thousand machines per day. It is said thlB will become before long the greatest auto route In the world. Real estate men are looking forward hopefully to a boom on Long Island following the extension to Flushing.

The fact that machines could be run over this unobstructed autoway Bixty miles an hour to Rlverhead, the eastern terminal of the Parkway, seventy-five miles away, would tend to make New York the great Mecca for autoists from all parts of tbe United States. Big L. I. City Lot Sale. The most important realty transaction in Queens this week was the sale by Le Cluse Washburn to an up-state syndicate of 160 lots on Thomson Hill, Long Island City at the junction of Thomson and Greenpolnt avenues, bought for an investment.

The lots are said to be worth not less than $1,000 each. A number of sales have been made of lots fronting on Thomson avenue at $2,500 each. And this Is looked upon as the future desirable residence section of Long Island City. The land is high, drainage perfect and access to car lines easy and quick. Among tbe other important real estate deals recorded in Queens County this week was the conveyance by Albert Stoot-hoff to the Springfield Land Improvement Company and the reconveyance by the latter to Jacob Mayer of twenty-five and one-third acres with a frontage of 749 feet on the southwest Bide of New York avenue, 219 feet north of Farmers avenue and 550 feet on the northwest side of Farmers avenue.

This tract is In the midst of several Important development properties. The sale was made subject to two mortgages aggregating $46,767.80. The property is said to be worth $75,000. Another equally important sale was that of 38 acres at New Hyde Park by John Lahey to Rose A. Bauchens and a resale by the latter to Frederick A.

Mey-senburgh. The property has a frontage of 391 feet north side of Lawrence avenue, in the tiwn of Flushing, near the Nassau County line, adjoining Michael Dwyer and extending 3,752 feet along the Dwyer property, 1,549 feet along Van Wyck and 1,964 along Mrs. Henderson's. City Real Estate Company sold to Ba-rum Realty Company a tract of 45 acres with a frontage of 1,679 feet south side of Eiseman avenue and adjoining the Garret Van Slclen farm on the north and Coffin farm on west. August Herzog Bold to William Heslln a farm of 46 1-3 acres with a frontage ot 750 feet on the north side of Black Stump road, and extending north nearly to the North Hempstead turnpike.

The Old Brushville road, extending north from Hollis Park, Jamaica, comes Into Black Stump road, directly opposite the property. The plot is on a fine table land and will eventually be Included In a high class development. The tract Is said to be worth about $100,000. Queensboro Heights Land Corporation sold to Borough Construction Company a plot of about ten acres of meadow with a frontage of 675 feet on the west side of Flushing Creek, adjoining Dyker Company, formerly Abram F. Bucher, later Simonson Realty Company.

Theresa Koe-ler sold to the Borough Construction Company two plots, one of six acres of meadow, one with a frontage of 290 feet north side of Strongs Causeway, or Jackson avenue, and 279 feet west side of Flushing creek, and the other of five acres with a frontage of 300 feet west side of Flushing creek and 246 feet north side of Landing creek. Kathryn B. Klemyer sold to John DeWitt and George N. Klemyer. ten acres In the town of Flushing, with a frontage of 707 feet south side of North Hempstead turnpike and 648 feet east side of Flushing and Jamaica road, said to be worth about $35,000.

S. James Hood sold to Walter C. and Peter C. Heldelberger and Grace R. Stewart 50 lots at Queens.

Thirty-four of these have a frontage of 433 feet south side of Sherwood avenue and 318 feet south side of Seymour street and 100 feet north side of Hugo street and 333 feet west sido of Sixth avenue. Sixteen lots have a frontage of 408 feet east side of Sixth avenue. The sale was made subject to a mortgage of $6,000. Joseph Tompkins sold to George C. Meyer four acres, northeast side of Flushing Free Bridge road, town of Flushing.

Louis Rosenbluth sold to Philip Sale five acres at Foster's Meadow, town nf Jamaica, with a frontage of 558 feet east side of Foster's Meadow road, and 635 feet west side of Ocean avenue, adjacent to Nassau County line. The sale was made subject to a mortgage of $6,600. Murray Heights Realty Company Bold to Merritt D. Keefe forty-four lots at Murray Heights. Broadway-Flushing.

subject to two mortgages aggregating $10,800. Valuable Manufacturing Site Changes Hands. Gustave Doll sold to Emma Lundberg a 7-acre tract In the manufacturing district south of Laurel Hill, town of Newtown, a short distance north of the Mon- tauk division of the Long Island Rail road, with a frontage of 475 feet on the west side of Betts avenue and 400 feet on the east Bide ot Calamus Creek, a tributary of Newtown Creek, and 660 feet north side of the highway leading to Newtown Landing. The property Is said to be worth $76,000, and was formerly the Philip Gresser estate. The sale also includes a lot 25 feet by 100 feet.

In Brooklyn, south side of Johnson avenue, fifty feet east of Smith street. William P. Rhodes sold to Hubert J. Treacy fourteen lots on the south side of the Williamsburg Jamaica Turn pike, between Wickes and Gould streets. Alanson Palmer sold to Daniel F.

Shea and Maurice E. Connolly, for $7,250, four parcels In Long Island City: one 102 feet east side of Crescent street and 155 feet south Bide of Grand avenue; aonther. 95 feet south side of Grand avenue; another A BIG FLATBUSH TRANSFER. Plot of 69 Lots, Not Far From Prospect Park South, Sold hy F. B.

Small. An important sale of a large plot in the Flatbush section has just been effected by Fenwick B. Small, the Broadway broker. Mr. Small has disposed of sixty-nine lots near the Ocean parkway and Prospect Park South, for the Lotos Realty Company, to a Manhattan investor.

The lots comprise the greater part ot a plot bounded by Beverley road and Avenue on the north' and south, and between East Seventh and East Eighth streets on the west and east. They are only a block east of the Ocean parkway, and a short distance south of the southern entrance of Prospect Park. The plot is 800x240 feet, but on the easterly side a tract 300x200, in the middle of the block, is not included In the sale. In speaking of the property Mr. Small' said: "This indicates the interest which Manhattan men are taking Jn the Flatbush region.

With the construction of the new Manhattan Bridge completed, no part of the borough will be more in the center of things. There are already splendid transportation facilities by the Brnghton Beach elevated trains, the trolley on Coney Island avenue and the other lines in the vicinity. The improvement and parking i of Coney Island avenue will make the region still more accessible. This property is close to tbe splendid Prospect Park South development, which is unsurpassed in the limits of the greater city, if not in the entire country. All the surrounding region participates in the benefits, direct and indirect, from such a development.

What will be done with this property, the sale of which has just been effected, I do not know, but It is probable that it will not long remain unimproved, in view of the demand for more houses in the Flatbush region." BAY RIDGE AND THE BRONX. Is Fourth Avenue Subway Delay Re sponsible for Difference in Price of LotsP To the Editor of the Brooklyn Eagle: At a recent sale of 164 lots in the Borough of the Bronx, near Crotona Park, a price of more than $4,600 per lot was averaged. This property Is about eleven miles from New York City Hall, while Bay Ridge at say Seventy-fifth street, is only about seven miles, and Bay Ridge prices are probably not more than one-third as much on the average. Is it possible that the delay in the Fourth avenue subway Is solely responsible for this great difference In price? An answer by yourself or some interested reader would be greatly appreciated by CLAYTON A. PENHOLE.

220 88th street. Bay Ridge, April 15, 1909. BAY RIDGE TRANSFERS. W. G.

Morrissey and M. G. Strauss have sold for Louis Duschnes ten lotB on the north side of Seventy-seiond street. 100 feet east of Twenty-first avenue, to Samuel T. Munson, who will erect on the site a row of detached dwellings; also a plot of twelve lots on Sixty-ninth street, between Twentieth and Twenty-first avenues, for William McLaughlin, to Samuel A.

Stone of Oswego, N. Y. also a plot cf twenty-one lots on south side of Seventy-first street, 100 feet from Nineteenth avenue, to Newcomb Benedict. WESTCHESTER property. Great care is being taken to preserve as many as possible of the trees, and the only ones to be cut clown are those that must be sacrificed In laying out avenues and constructing the foundations of dwellings.

John H. Storer, the Boston capitalist, recently said in regard to this new development "It Is difflcunlt to imagine that nature could have fashioned a more nearly ideal residence Bpot than New Yorkers HAT the realty market has held a constant and firm advance throughout the spring season is the conclusion to be drawn from existing conditions. The demand for available property has kept up and the great number of transactions hows conclusively that conditions have teen so re-established that the belief is warranted that they will remain steady. Everything points to a year of high records in both sales and building operations. The call for plots on which to erect new structures has become so Insistent in some places that prices have Bdvanced to an almost prohibitive figure.

Real estate men with an eye to the future who have been In the habit of having largo tracts on option to provide for any demand have found their holdings diminishing without being able to secure additional property on terms which they regard as reasonable. One extensive builder who usually has a hundred lots in readiness for such operations as he may determine upon, and who has built a thousand houses in the past four years, now has only thirteen lots of the sort he deems desirable. He says he can And no more save at unreasonable prices or under such restrictions that they could not be developed satisfactorily. Among the sales of the week was plot of sixty-eight lots in the heart of the Lefferts estate in Flatbush, which is to be otcupled by buildings. A number of new developments of property on Long Island, beyond the city boundaries, at several points are well under way and eome large tracts have changed hands.

The blossoming season, already begun, directs renewed attention to rural localities on the part of those fortunate enough to be able to consider them for residence purposes, and draws countryward a considerable number of city residents. In all parts of Brooklyn a healthy stimulus to real estate activity prevails from the prospect that with a sufficient margin for-incurring considerable outlay on pub-'lio works, this borough is to get her share of subways and other lmprove- 609 Sixth Street, Bold by Jchn H. Thode. One of the Bliss Houses Tasses from Mrs, White to John Fagan. ments.

The prospects of the beginning ot work on the additional subway, which is to give to South Brooklyn the transit facilities already supplied to the Bronx, ere daily brightening and the obstacles 1n the way are being overcome. A final decision in regard to the debt limit by tbe highest court will be secured as soon as possible. The right of the city to dig a subway underneath Fourth avenue, under the restrictions of that thoroughfare from occupation by railroads, will bo determined as speedily as possible. Tho supplying of subway facilities to other parts of the borough Is also receiving careful consideration. The construction of the Lafayette avenue-Broadway loop at the same time as the Fourth avenue route is strongly urged.

A renewed demand has been made for the extension of the present Bubway from its tcrmlnua tinder Flatbush avenue to the Flatbush region, provision for which was made several years ago. Another part of the borough demanding, relief from present conditions is that section of the Eastern District which can make use of the ferry privileges at the foot of Broadway, if they are restore! to use. The hopes ot those who urge the speedy operation of the ferry lines by the city are centered in the measure before the Legislature which permits the taking of the property for the uses desired. As the bill provides for the condemnation of personal property, aa well as real estato, Jt is regarded in some quarters as containing a dangerous innovation and affording a legal loophole which may present any speedy work under its provisions, even If it becomes a law. But that relief from the present onerous condition, due to the abandonment of the ferries, is Imperatively demanded, cannot ce gainsaid.

A much needed public improvement is the linking of the park systems of Brooklyn and Queens by connecting Highland Park and Forest Park. The Legislature of last year authorized the construction of the required roadway through Cypress Hills Cemetery, and a plan has been worked out by the city engineers which will provide for its construction with a minimum disturbance of vested rights in the cemetery property. By the construction of a viaduct some cf the plots along the line of the proposed roadway would be undisturbed and It would only be necessary to remove two graves to complete the roadway. A little land will have to be taken from two Hebrew cemeteries In widening the street leading up to the Cypress Hiys In-aiosure, but it is vacant land 'onlj that miii 'pzfr jrs: 1 APPROVE MALBA CASINO PLANS They Provide for an Attractive Struo-ture The Sales of the Week. The plans and specifications for the new Malba casino and clubhouse, upoa which Architect Albert Swasey of Manhattan has been at work, were finished this week and approved by William O.

Demorest, president of tbe Realty Trust, and the Malba Association. Tbe building will be erected in the center of a plot, 180x140, fronting on Malba Drive, and overlooking the sound, on the White-stone Peninsular tip. The plans call for a three-story colonial structure. The basement wilt be used for billiard rooms and bowling alleys. On the main floor will be reading rooms and a restaurant.

Part ot the second floor will be divided for use as a library and rooms for games. The remainder of this floor and the entire upper floor will be used for sleeping chambers to accommodate the guests of the Malba Association. The estimated cost of the structure is $39,000. The sales effected at Malba by the Realty Trust this week are tbe plot, 79x 125 Irregular, on the north side of the Point Circle, at the intersection of Boulevard Drive. The plot, which has a frontage on Powells Cove, will be improved at once with a dwelling; a plot, 100x130, on the north side of Malba Drive, opposite Summit place and fronting on the East River, to a Flushing banker, as a site for a $23,000 residence; a plot, lOlx 170, at the intersection of the Point Circle and South Drive; four lots on the north side of Eighteenth Btreet, 80 feet west of East Boulevard, and five lots on the north side of Twenty-first street, 130 feet west of Malba Drive.

BEDFORD AV. MANSION LEASED. The large double brick mansion at 555 Bedford avenue has been leased through the G. P. Truslow Company, brokers, for a term of years.

This is the well known Kneeland-Meyer homestead, which was erected over forty years ago, and until now has been occupied only by the two families above named. HILL APAHTMENT HOUSE SOLD. J. Davenport, Son of Fulton and South Oxford streets, have just sold the modern apartment house property, at the northwest corner of Clinton end Greene avenues, for the Ser.men's Bank, Business Property at 183 South. Eighth Street.

Recently Sold by A. B. Gritman, Broker. for Savings in New York to an Investor. The building Is 44x95 feet, containing: sixteen apartments, and on a plot of ground, 44x120 feet.

npoooooooooooooooooooeoooo SOME SALES REPORTED COOOCOSOCOOOOCOOOSOOOOOOCK Brokers and others are Invited to end rennrl. nf 1 avAna.i publication in thin column, together wltk other items of real etat newa. These ulionld be addreaaed 10 tne neat Eatate News Department. By E. T.

Newman Co. BROOKLYN AV. adjarent to Union st. parcel 160x100. on the easterly side, for Elmer Dalv.

the well-known turfman, to Walter C. Buck, for building purposes, at $22,500. ST. JOHN'S PLACE. 160.

near Kov.nth a. three-story and basement brownstone dwelling-, for J. G. Hamburger, president of the Hamburger Detective Bureau, to L. S.

Tall-man, at $1,200, on three years lease. PARK PLACE. 192. east of Flatbush av. a three-story and basement dwelling, for Mrs.

H. Smith to Clsypool Bordley, at $780 per annum, for period of years. By Ot. P. Truslow Company.

RODNEY STREET. 95. three-story and basement brownstone dwelling, for M. A. Roce.

By Galitzka Co. 5STH ST, No 361. a 4 story double brick building, 27x72x100, for Michaels, for 5TH AV, 60 ft 63d st, a story single store property, 20x100, for Llppman, for 110.500. 48TH ST, No 455, a 4 story double brick flat, 30x100, for Levy, for $18,750. 6TH AV, 100 ft 6Jd st.

a 3 stnry rdngle store property, fur Slllman Realty Co. for $10,600. 69TH ST, No 625, a 2 story brick house. 20x 100, for Lucke. 48TH ST.

No 512. a 4 story double brick apartment house. 30x100, for Heft, for 6TH AV, No 66, s. 60 ft 62d st. 20x100.

now in the course of construction, for Slllman Realty Co. for $10,500. 7TH AV, No 6315, a 2 story brick housei 20x 100. for Lucke. for $6,230.

48TH ST, No 511, a 4 story double -brick apartment house, size 30x100, for Heft, for $18,600. 6TH AV. s. 80 ft 62d st, a 3 store property, now In the course of constmctlon, for Slllman Realty Co, for By Colson Dix. EAST FOURTEENTH STREET, west side! 293.4 south of Avenue two famlti" detached house, on plot 83.3x100.

H. A M. Buckley Co. to a client, who will occupy. WOODRUFF AVENUE.

171, two story and basement brick one family 18.9x95.2. Sold for F. E. Sturdevunt to a dllent, who will occupy. By Burrill Brothers.

STERLING PLACE. 366. between tlnderhlll and Washington avs, the three itv and basement brick and stcne private hoirpe lot 20 feet wide and 100 feet deep. For Vnrv A. Smith to M.

G. Karohne, for occupaitty. By A. W. Cherrington.

CORTELYOIT ROAD, southerly Fide, 40) feet east of East Second street, two faml'ty detached dwelling on plot 40x100. Sold for Robert Wernicke and Ernest K. Walker to 1811 ment no loss Is made. In the first place, should look at the property which Is offered as security, and must remember that if he has to realize on this property, will be necessary to sell it In times which are unfortunate, and that there must be at least 35 per cent, margin between the amount of the loan and what he thinks the property is worth. Fifteen per cent, of that margin will be required for arrearage of Interest, taxes and assessments and costs of foreclosure the balance would represent the depreciation.

"While selecting the security, he should consider whether there are assessments come on the property for improvements; whether it is in a neighborhood that is improving, and whether it is in section where property is marketable and quick of sale. For instance: A farm might be worth $10,000, but a loan on of $5,000 would not be as safe as a loan of $7,000 on a private dwelling in good location in a large city. He then Bhould consider the moral risk attending a mortgage whether it is a case of man living beyond his means, preferring to lend on people's homes in small amounts, experience having taught the mortgage investors that such mortgages are about as near perfect securities as anything there may be. "Having decided upon the security, and having taken advice as to the valuations in case the investor himself is not posted, he should then look to see that Be gets good titlo to the property such investigation being generally done at the expense of the borrower. In the large cities it is possible to obtain titlo instance by responsible corporations, and tbe investor Is wise who exacts such guarantee before investing his money.

"After the mortgage is made and recorded, certificate of title obtained, from then on it will be the duty of tho investor to see that the premises are insured against fire and that the policy in a good, substantial company, and every year he should see that taxes on the property are paid, for taxes come ahead of the mortgage. When the mortgage matures, he should see to it that the property is reinvestigated and relnspected, to the end that the investor may know that the property has not been Impaired by neglect, or that the neighborhood has not changed be- NEW FULTON ST. STRUCTURE. Bank and Office Building to Be Erected for T. Lehrenkrauss Sons.

On the first of June operations will be started for the new business building to be erected for J. Lehrenkrauss Sons, at 359 Fulton street, on the plot now occupied by the Emerson Shoe Company and the Mechanics and Traders Exchange. Charles Werner is the architect. The building is to be fireproof, no wood being used in the construction or in the furnishings. The construction will be of skeleton steel and reinforced concrete; the supporting being entirely independent of the side walls.

The exterior is to be of wire polished plate glasB, with tbe exception of the piers and cornice, which will be of cream glazed terra cbtta in heavy and bold molding, to which will be added ornaments in copper, bronze and iron finished in green. Over the windows to the banking department will be an elaborate cornice extending a short distance from the building, supported on ornamental brackets with ornamental grill work over the entrance. The front doors will be ot bronze. Over the windows to the insurance department will be similar cornice and balustrade with an ornamental bronze lamp at each end. On top of the building will be two steel flagstaffs.

The sub-cellar will be arranged for the heating and ventilating plants, the vacuum cleaner system and auxiliary fire apparatus. The bailment and first floor are to be laid out for banking purposes and will contain large fire and burglar-proof vaults The second and third stories are to be laid out for insurance purposes, stock and filing rooms, etc; the upper floors for tho touring, law and other departments. Electricity will be used throughout for lighting. A complete telephone system will be installed. There are to be two automatic dumb-waiters and one passenger elevator.

The interior finish throughout will be of drawn steel and marble. The floors will be of composition materials. The structure will be of a much higher class than tho ordinary office building usually erected and will be completed February 1, 1910. N. Y.

R. E. EX. DINNER. An unusual degree of interest is being shown in the annual dinner of the New Jersey-New York Real Estate Exchange which is to take place next Wednesday, April 21, at the Plaza Hotel.

Manhattan. E. A. Cowley, chairman of the dinner committee, states that he ha3 a number of surprises in store for the SCENES AT The above picture is a good Illustration of a suburban development before the streets are laid out and tho work of constructing a new town is commenced. The picture is a photograph of the crowds of people visiting Pelhamwood, Clifford B.

Harmon's latest Westchester development. The property is one of the few tracts of land remaining ripe for development, and neatijf quarter of a i4 I he it to a it a a is in of PELHAMWOQD, 'lf! MM-tit 9 iWvWn million dollars worth of lots have already been sold, and it will not be long before the entire character will chnr.se frnm the present wlid state to a beautiful suburban village, with wide strets and fcindsome houses. One hardly realizes the changes that are taking place all around New York City of just such a character. One of the features of Pelhamwood that has appealed most strongly to visitors is the beautiful open growth forest that covers almost the entire.