Extracted Article Text (OCR)
Infho REAL! BM BMMBbBMMb rttureMf. Owners Who Have Right to Ask for Lower Assessments Herewith Is Also Described the Propcr Way to Filc Blanks for Reduction in Property Values. by VkWBBM riRDY, t.lO*"" ot Tax of the Urealer I'ity. owner of real ea tate or the ugent for regarda any property for more than Its full value mav makf appllcation for th. reductlon of the tss-ssment on or before November 15.
Tbe annual record of the assessed valu atlon of estate ia open for publlc ln aptctlon from October 1 to November 15, in order that It may be lnspeet erj by the owners of property, and objec? tlon be made lf asaessments are ex cewlve To ald persons who desire to make ap plicatlonu for reductlon and to aid the commlsslonera in considerlng such appll catlons, the department has prepared a blank which containe questlons covering ai nearly as possible all the materlal facts bearing on the value of property. The ahould answer fully and frankly tne Questlons which have a bearing BO the value of hls property. There ls spaee on the blank for any further statements the appllcant may de glre to make. If the queatlona are answered fully the commissioners wlll have before them ordlnarily all the material facts. Before these blanks were prepared ln thelr present form It was found that ap often uaed many words without conveylng any Informatlon helpful to thelr appltcatloru They frequently omltted im? portant facta whlch would hava been very atrong evidence In favor of thelr request When appllcatlons ane received hy the department they are lndexed In the bor? ough ln whlch the property ls located and are glven to the deputy who assessed the property.
who ls requlred to make a re on the back of the applicatlon and ln partlcular ahowlng the "analysis of the as eessment; he should make a further re port rosponslve to the allegations of the appllcant. From Decernber 1 to January the coir.micBloners act upon these appllcatloaa and give an opportunity for oral argu ment to such persons as rOQOO-1 in wrlt? lng a personal hearing. ln a comparatlvely small numlier of cases is a personal hearing of any value to the appllcant, because appli cantB can add nothing to the facts set forth In the written appllcatlon. lf they cannot add anythlng to the writ? ten appllcntion they the tlme of tiie OOBMnlaalonera, who require all the time the law allows for the considerntlnn of the aaaay thousands of applicatloi F.vory appllcatlon Is considered by the commissioners in the llght of the state ments made by the applicant, the report rrade by the deputy, and thelr own knowl edge of the conditions. Ir maklng an appllcatlon the nplicant slioulrl conalder carefully whether hls that tl.e assessmcnt Is exces atVO relates to the value placed upon the land or upoa the baUdlag or hoth.
If the ol relates to the land he ahould conalder whether there is by any chance nn inequallty between the assessment of his lot and that of other lots on the Bame block. Such Inequallty very rart-ly exlsts. If lt does cxist the mlstake ls almost certain to be corrected. lt llrTlcult for the commissioners to reduce the land valuation if the appll? cant regards the aasessment as too high ln the whole nelghborhood, becauae to correet the asaessment on one lot may lnvolve the reductlon of the aasessm.nt on a large number of lots. If the appllcant consldere that tho val? uatlon placed upon the bullding ls slve, be shoula conalder whether It ls filgher than the aeaessment on llke bulld r.gs ln the neighborhood, and if so polnt out ln what respect hls buildlng (liff.rs from others.
A buildlng ordlnarlly ean never he worth more thu'i the cost of reproducton: if assessed for more thun such vulue, evidence of the cost repro duction ls most valuable. Frequently a buildlng may add nothing to the land value; if so, evidence of that fact is most Important. The more the applicant knows of the system nnd methods of the department the better able he wtll be to preaent hla case intelllg. ntly. SUBURBAN ZONE SALES Activity in Long Island and New Jersey Places.
The McKnight Realty Company has sold at Estates of Great Neck to Donald O. Ballard a plot frontage 60 feet In Klm to II. Osgood a plot frontlng 131 on Rldge Drlve West: to A. S. Shannanie a plot frontlng 75 feet at the of Cedar Drlve aiid HttlaMe ave? nue; Thomas .1.
Newton a plot havlng a (nmtafla of 12t? feet on Gateway avenue. and tt. H. Holley a plot frontlng 60 feet, near Hlllsicie avenue. Mr.
Holley's purchase is an Investment. All the othera will buiiti inaMearea aa their piots. At Dajrtfla. Klushing, the same com? pany has sold to Herman Anderson, for Improvement, a plot wlth 60-foot frontage on Lawrence Boulevard. Joseph F.
Felst has sold for Jamne ler the plot feet on Edgerwrater Road. Rldgetteld, N. J. The George. F.
Carman estate at Patch ogue, baa been purchased by J. Rob? ert Bailey and 8. A. It comprlses about tktrtooa acres and wllf be developed Into 60-foot buiiding lots. Bailey avenue will he through the property.
Ward Ward have aold for Catherine Baylis her estate of eighty-ftve acres at Oyster Bay, Long Island, on the Yellow Cote road; also. twenty-two acres adjoln? lng, for Janett Lloyd, to M. W. Farwell, who wlll improve the property for hls own occupancy. The nlx threo-Btory flathouses No.
211 TO Taxpayers Will Be Heard at Meeting To-morrow. A nublic hearing on the buiipet for 1013 wlll be held by Roard of Estimate and Apportionment at 10:30 o'( lock morrow morning, in Rooni 18, CltJ Hall Taxpayers are Invlted to appear before tha hoard and state whal re they thlnk are from many strong reHl estate organization? are axpOCtOd at? tend the The departrnental eatimates in detall, af recelved from the department heads, may be fo.ind In the "dty PlOOOrd" the lOWhlg dates: August '14. September ii aad October i and 16 Coploa of the Reeord'' may be had at Ne. Reade street. The total budget approprlntlons for 1912 were 1122.716,4-M 44.
The net Increase in requests Is VA. tc. One of the lnrgest Itema of increase to be lncluded ln the budget for 1913 ls that of-the dlrect state tax. which totals 17. 947.031 98, againat mandatory Increase in one year of alx.tit per cent The county of Queens ls for ati Increase of 122 per cont aa its share of the state tax payment.
while Kings nnd Richmond o-unties are lncreased 99 and 95 per cent. respectlvely. New York Oounty wlll rtot be hurdened so heavlly In proportinn to last total, although lt Is slated to bear, in The Frtaay, flaeeol half of reaJ The taa before flata latareat at rotobow I wIN aa efleKtaaal (nakteg pot oeat biBs for unpeia pa99 aoy Decatober 1. atW thal got eent tron aOOeO te Um MR aeaelty ef le per cent al) bAoob te ratea Neveaeeer Tfl: fleelta af WfTbmf, ifl. tor tha ro-laottoa ef tbe oaaeaae-l value of raal aatata aaet fliee ea er before thta day FVWajf.
ttt. Anaual dlaner af tba Fifth Avetraa Aaaoolettoa at tba WbtMBt Mayor wia ba tfce fflflfll of MM Wadneerfay, Nevember 27. Oa tMe tbmy. tba atatioa at IM atn.ef flerantb ava waa epeaefl. a ootaplau aebeflate fotafl lota effeot Antton tumAby.
to 221 Jackson avenue, northweat corner cf Bidwell avenue, Jeraey Clty. bav? been aold by George W. Thurber to Itnmanuel Brltten for about 166,000. At Massapequa the Queens I-ind and Title Company has sold six plots, each wxlOO feet. on Pittsburgh, Connectlout and F.uclld avenuea.
Among the buyers are W. H. Clear, L. Hopkins, C. l)ngland, H.
Iderz and EL Bekemeycr. The Minneslnk Realty ('ompany reports the following sales at Red Hank Kstates. Red Hank. X. in the vtlla seetion: To Frank Clark, of Stoneham, Maej Plot feet.
on Creacent Parkway. to Horatlo Young, of Revere, a plot frontlng feet on Mohawk avenu. and IM feet on Delaware avenue; Harry Hmith, of Rutherfoid. N. a plot KwxlaO feet, on Creacent i'ark-Aay.
to Klorence M. Cunninnham, of Brookl.Mi. a plot 75x160 feet, on Fleld Alfred Priest, of Brooklyn, a plot TSalSO Delaware avenue, and to Edwin Hopklna. of Munhattan, a pi.it leei on Fleld avenue. ln the bungalow isectlon, the company has aold to F.
I'orn "ng, of Nutley, N. a one-half aCtO at the corner of Harvard atreet and "Minneslnk Boulevard; to Mrs. K. M. W.
iBDUngs. of Manhattan, a tract eontain Jlng three acreB facing on Conimonwealth (avenue and runnlng to Weslayen street; Benjamin Hobba, of Astorlu, one-half frontlng 2U0 feet on Harvard ftT-et, and to Oeorge F. Oraham, Fnevere, a plot containlng one acre. the corner of Harvard atreet and avenue. A POSITION FOR YOU.
lf you uae The Tribune'e Situationa dollars and centa, more thaa two-tblrds uf the total. The atate levy, by countles, ls us fol? lows: Ine-eaae. York 2,624,487 445.410H NifM Hicinni.nd BB.BU Totau KSB1.S4I H.B-I.BM riCLDS offhe GRl and SUBURBS C5 LAWSON PURDY. President of the Departm. it of Taxes and Assessments.
CO-OPERATIVE HOUSES Revival of This Type of Building Dates Back to 1905. .1. Murphy, t'onimlssloner of the Tenemenl Houae DepartniOBt, baa much to aay aboul co-operatlve apartment houaea In tbe blennlal report of his pnrtment for UM and IfLL The report was recently laaoed "The development, or. rather, tbe re? vival. of thi type tenemenl bouae com OE REALTY BOARD Brooklyn Brokers Alert to De? feat Adverse Legisiation.
MANY ABLE COMMITTEES Organization Seeks to Have Laws Enacted to Reduce City Expenses. A proafeaelee oruanizatlon the Brnok ii Board of Bafll Kstate Brokers. It Is tmw endt-avoring to plan li-glslatlon whereby the mnnti of conductlng city floreraaieal nay ba radooed. Tbe ofllo-rs of the board nre Willlam Morrisey. prealdent; i-'rank n.
prealdent i Tboaaaa Bovendea, treeaorer, and Boflena J. Grant. secretary. Thr- n-clors are DeHaii Bei gaa, Cortel you, William P. Tht.mas Ilovr-ntlrri.
Frank II. r.vl.-r, Wllllitm il. Monisey, MoOenhaaer, Howard C. Pyle, i.u gObtb -I Grant. Inaac H.
Cary, Davia Porter, A. Waldron. F. B. Snow, Will? iam H.
Smith an.l Fenwhk B. Small. Tba dfreCtora ex o'fielo are John 1'ull tnnn nn.l Arthur B. Grltman. Qrant, parntfaijr the board, finiri yeaterday to a Tribana reporter in n-Kard to the Mrooklyti real estate Mltua tlon and work oi thr- ornanlzation: "Healt; crmrlltitins ln are inucti imprtmd.
I think ara wlll he ahle to at trart many hlg speculative bulldors to thls borough soon after thr- contracts for the propooed work to enlarge the Biihway Hystein of tba borooflb ara sinned. "Tbe Brooklyn Board of Baal Batata Brokera w.is organlaed ifi tM6, the objeet belng to pi.it- tlu- Intereata rif its mr-m WILLIAM G. MORRISEY. President of the Brooklyn Real Eatate Board of Brokers. rectors on the third Thursday of each and every month.
mcetlngs are usually very entertalnlng nnd Inatructlve and Rlve the members an opportunity to exchonge vlews on varloue topics. "The organization Is always ready to elther approve or dlaapprove legiglatlon after a thorough lnvestlgation, and its generally carrles great welirht wlth It. "The hoard ls now taklner and has for BOBM time taken a verj- active interest ln rnatters of taxation, and has heen greafl to the Tax Department LOOKING EAST ON 261ST STREET FROM FIELDSTONE ROAD, SHOWING TYPE OF DEVELOPMENT ADJOINING SCHMITT AND FORSTER HOLDINGS, moniv known as to operatlve apartment home, eayi commlaaloner Murphy, "has i.4i in laal two .11 much actlvity. "The erectlon of auch huildlnas ls of generaJ Interest because 4.f tha fn4-t that in than th. apoculatlvc element is practi? cally an.i wlili It much that ls undesirnhle and OVOB Bad.
lival the co-operatlve bach to TO OPEN IN NOVEMBER Community Building, Occupying Broadway Block, Has Fine Theatre. The communlty bullding which is Ing erected by one of the axnaaenaeat (inipaiiieH eontroUod bv Wllllam Fee, eovatiog the entire block boandod by Broadway, Bt Nlcholaa aveatta, nnd atreeta, la naaiing oomplotloii and Mr. Fox states that the theatre will be open IB November. Tho building OOatalna stores, lofts, of Beaa, etc, and an absolutely Broproof theatre, fully equipped wlth every known up-to-date dOVlce 4 oiitrilniting to the eomfort and aafety Of patrons. and liav Ing a aaa Ilng capadty la ef.s Appllcatlona bave been made for stores und other space ly leading iner ehanta ooverlng rarioaa auch ba ooafoctlonera, deaaera and dyers, drugglsts, high class grocers, dealers ln cigars and tobacco.
dnirlea. florlsts, res laraBtoara etc, whlcb aro always rcpre sentc.l in 11 buildlng af thla character lo cated at such un important centie. THE DWELLING HOU8E COST. The average cost of the lag houses bullt in Manhattan from to lnst January 1 was as follows: No ef hvarage of Averagi Y.ar hoiisea. rent.
i Year. houaea eaat eaaa. nv? vo.ih.-i ash.ok mm Ti IstlO- 60 60.070 21.tae 1: I5.406 1006... 47.164I1IU1.... wi uoa io im n.07 BB 40 rir.i 700 9WJAW -a TO ENLARGE IT8 PLANT.
Ar. hit. duial Iron Company pians esteratve additloRa to lla noai plant at UM atreet aad EUvct avaaaa tniH, real eatate brokera, to take unlted action npon all legtalatlve and munlclpal mattera relatlng lo i aatata in thiH borough, to maintain a high starrt r.f commercial honor among membera, aad to eetabkeb malntala tixrri r.itt of ooaaaalaalaai ami for sale. rental and apprats.il of ea? tate ln thls borough. "Tho organlzatlon's haadflOartan nre In tlu- Bafll Kstafe Bflflhflflgfl Bulltllng, No.
Montague strer "Membera havlng oAcea in other s. tions of the city tln.l lt (onvenit-nt for doarntown appotntmenta There ara atlases for ry war.l of thD borough. as wiii an Qoeena Borovgb, which kept ti a tfi recorda Of transfers of nal aatata an.l aOCtlon sales. and as aaaaed valnatloM of uii property la tho borough. "There am eommltteea to attend to all to them.
"An arbltratlon committee settles dls putes among the membera r'-latlve to transactlons or commlsslons. A committee 00 legisiation and taxatlon haa ehargo of matters affeotlng reul estate In r.rooklyn. A on transportat'on aml subways and other Important com mittr r-a are worklng for the best intereat of tlu- borough. "Tho mi-mborshlp reipreseiits the best men In Ihe real estate business, and only reputabtc laal eslate, men are ellglhle to become of tho organlr.atlon. Any aatata broker or ngent engaged Iti business In hls own name, or aa a iiicniber of a firm, or offlcer of a real t-Htate corporatlon, may be ellglblo for liiernbershlp.
"Through Its appraisal committee lt Is in a position to have appralaala made, ln all sections of tho borough, selectlng from varlous districts flflM who are Ihoroughlv familiar wlth thelr partlcular sections, and who report to tho commit? tee. of the Board of Bnkan is IflflVfll upon this report, and Ihe i II. nt Is assure.I bt vuluatl.m aa nearly corrael as is paflfllMo. annual dinner is beM aaeb Wlaftar. These iiiniH-is ara alteaded by Um bmbo bt ra of tbe board are ifleoaafl.
"Tha organlaatlon bolda its on tbe flral Tueaday ami Ibe i.oHrri of in endeavorlng to bave valuattoaa placed ea an equttable baala worfe haa been groatlj appredated by the rarlooa de? The board and tha organtaa tlon, througb its legiatatlon committee, are in conetant touch arltb all i ni Albaaj affectlng thla borough, aad ln many Instanccs its efforta for or against auch bills been verj ef? fect! ve." NEW TRACT OPENED Situated Among the Hills Near Ramsey, N. J. Recognlatng the many attractlva ures possessed bv the seetion of the try altliated atnong the hills of Northern Now Jeraey, tba Kutley Realty Coaapaay haa opeaed np a trad af land near on Ihe main line of Krie ltallro.nl. close ta the development of Cragnore. Bltoatad la tbe Ra-aap.
Mountain seetion at an altitu.le of aeveral hundred feet, the property consists of high rolling land, wlth a OOO thei- It wlll be siibdlvided Into buildlng of from one t4? three acres The property ls within eoay coaimutlng distance of th" city and witiiin iraWrrg distame of railroad statlon and trolley It wlll be ln the manner cus toniary wlth the N'utley Jlealty Company. rlevcral houses, around whlch are many line old shade aud frult trees, have been n-modelled and mofbriilzed. Hoctrlfl llght wlll bu Instullcd and water provlded. SHORE DRIVE ASSESSMENT. All the cost of the proposed openlng of the Shore Drive, between Layton and 1'ennyfleld avenues In The Bronx, la to bt ixirne by tho property The Hhore Drlve ls ono humlre4l feet wid'- one mtle long.
TO BUILO IN RIDGEWOOD avenue Rieg Is golng to put up a row of li- 4 two story biick dwelllng houses at th. Boathweal eoraat of Logaa street aad ui ig.vM'cd avenue, Brooklyn, at a coal of The plans have been dr.iwn charlea lafangi Boa. ICOMMUN.TY BUILDING, OCCUPY.NG THE ENT.HE BkOCK BOUNDED BY BROADWAY StNICHOLAS AVENUE, 1 8TREET8, WHICH WILL BE OPENED BY THE AMUSEMENT COMPANIES CONTROLLED BY WIU1AM FOX IN city Fine Estates to Go atAuction i Schmitt and Forster Holdings in Riverdale Section, wkh Broadway Corneri, To Be Sold. Wlth the offerlng at auctlon of the Schmitt and Forster holdings In the River dale section. scheduled by, Joseph P.
Day for November 12, there wlll take place what is likely to be the last large publlc sale of Broadway property for a gool many yeara. A glance at the map ls suffltient t.i show that Broadway ln Manhattan no longer affords any land for subdivlslon an.l aale in small parcels. Beyond the shlp canal Broadway Is bordered along the easterly side by Van Cortlandt Park practlcally the entire dlstance to the Yonkers llne. On the westerly side of city's main hlghway north of Klngsbrldge ln the last few years sales have left few propertles ln flrst hands, wlth the excep? tion of those to be sold next month. T) the north between the Forster and Schmitt propertles and the city line is a tract held by the Amerlcan Real Eatate Company, and to the south are the large holdings of the Delafields, the Good rldges and others.
The Delafleld estate has already undertaken the development and Improvement of some of its property, and lt is thought highly improbable that any of the other large landed proprietors of Rlverdale wlll eonsider any early breaklng up of thelr estates. The Forster and Schmitt propertles have comtj Into the market at thls time as tho result of a pecullar comblnatlon of clr cumstances, and one whlch promlses un? usual opportunlties for buyers. The Schmitt lots are to be sold by order of John Whalen as trustee. for the beneflt of the credltors of Charles J. Schmitt Mr.
Forster, hearlng of the plan to sell the Schmitt property. asked Mr. Day to Include his lota and houses ln the offer? lng and to scll them for what they would bring, in order that he may be relleved of responsibllity and the care and be free BOOk health In a more ausplclous cll mate. Taken together, the Forster and the Bcbmltt holdings make up a tract havlng unusual characterlstlcs. The auctlon wltl i over in all VA lots and nlne houses, but for those who realize the Importance of Hroadway ln the future, development of that section the fact that the offerlng wlll Im ludc flfty lots frontlng on Broadway Irv.
Broadway corners), ls perhaps of greater It has been polnted out that thls stretch of Broadway has a INT Northerly Zones Scenes of Considerable Activity. wai a most BOtlOCabla itu rease in raalty tratiing last week in Manhattan and The Bronx Larger volume than ln the prevlous weeks of the fall season was not the only pl-'asiiig feature, elther. Th- quality of the raajorlty transac tloaa higher than those whlch formed the budgets of local operations ln the month. Ami the geaeral aspect of condltlons Indicated a broadcnlng of ac? tivlty. It looked last week as if the fall buy? ing aeaeOO bad acquired a lot of prlnclpal characterlstlcs that are usually found to ba among the inherent possesslons of the nt this of year.
Onec more the upper West Side gave a good BOCOUnt of Its drawing power. This eonataal rerelntlofl of its realty ehanaa mg ago became a hablt. So if sltu atioii in tllstrict last week had beon Other than satlsfactory. most of the realty leaders would have received one of tba blgg st surprises of the year. upper West Mda transaoion re future of unusual proinhe.
Not only la it to become the maln businesa thorough fare of the dlstrlct. but, lf it ls to follow the hlstory of other sections further south. If will also have a large element of value by reason of Its avallablllty for hlgh claas reeldentlal apartment houae Improvement. At the weaterly boundary of the Forater and Schmitt propertlea ls Rlverslde ave? nue, ahout mldway between Broadway and the Hudson Rlver and traveraing the whole of the beautiful region, whlch has long been famous for its many old estates and Ita many beautiful Fourteen of the lots to be sold are on Rlverdale Of the remalnder, twenty-seven are on 269tii street, sixty two on 260th atreet, twenty-two on 261et atreet and nine oti Mosholu avenue. tho main drlveway through Van Cortlandt; Park.
Thus It is apparent that a large part of thls property is sltuated on the main thoroughfare of thts seetion. The entlre dlatrlct has an elevatkm of from 100 to 160 feet above tide water. aad lt la Ideally sltuated as far aa draln-' age and the physleal featurea are con- cerned. About $20,000 has been expended" for the same by the owners ln eurface; and sub-surface lmprovements. Some oti the streets and avenues have been aewered, curbed and flagged, and the assesaments have been paid, whlle others are yet ln thelr rough state.
The houses to be lncluded ln the are of a unique type, and represent an effort on the part of Mr. Forater and hte' archltect, E. 8. Chlld, to create a famlly dwelllng houae partlcularly sulted to the attractlve surroundlng of thls locallty, with floors rented at $50 a month each. In Its tranalt faclllties the Rlverdale territory enjoys the advantage of being accesalble by any one of the aeveral routes.
From the subway termlnus at 2l2d atreet It ls three mlnutes' trolley ride, or perhaps ten mlnutes' walk, to the prop? erty. The Mosholu statlon on the Putnam divlslon of the New York Central Rail raad is two walk, and from the Rlverdale slde of the propertles less than seven or eight walk will brlng one to the Mount St. Vincent statlon on the New York Central Hudson Rlver line. In addltlon to these routes. almost every Bronx trolley Hne glves transfers to the Broadway and Yonkers Hne.
The Park avenue apartment house area sales to the weekly budget more than $2,000,000. Tiie gl.2o0.OJ0 upper West Slde trade was negotiated by Davld Stewart The Car nepje irompany aold through him to the Hoguet estate Laureate apartment house at the north-east corner Of lllth Btreet and Amsterdam avenue. It took in part ment the block front in Rlveretde Drlve between Mst and 14-d stroete, cnsisting of about twemy-tw-j lots. Other big West Side features of the trading in the week included: Sale of the BVO-OtOry apaitment house Nos. 586 to 690 West IHth street.
by Wlll? lam A. DarlliiK for (lustav. Schuck to Dr. I'hai-los A. Cllnton.
lio naw. three house- ln part payment. Bale of plot at northwest corner of iS3tri street and St. Nlcholas avenue. Sale of the I.aurel apartment house No.
157 West street to William Sperry, who gave in part his property at I'ranford, N. J. Bale of a 93th street plot east of Broad? way to the Elba Realty Company, on which It wiii ercct a motion theatre for the Revllo Amusement Com Property In waa taken in payment for the Broadway plot. Sale of two five story flathouses ln Weet street to an investor. Sale of the Charles Welsb'e.
ker estate TWOFAMILY HOUSES, NO. 840 TO 862 MACON STREET, BROOKLYN. ERECTED BY PHILIP SCHMITT. sulted In a change of owiu-rshlp to prop orty ralBOd at tAMJbtA Another to Im prOTOi parcels worth several hundred tliousaml. Several cash Investments ln tli -trctlon were also made.
ln UM Central Fifth avenue district was conslderable activlty reflecting ext II- nt rental condltlons and the pos Btbtllty more npportunlties for specula Uva hutl.JIng projects than many experts on such subjects thought tht re were. Some of the realty leaders iec-ntly as that certalrt of the city overbullt but not one of thelr vlewa relates to that part of Fifth avenue JflM north of street. It was that part of thls great shopping district of New Yoik whlch figured promlnently In tbe reports ,.1 Mlee an.l buiiding ln the Wr'ek. Tho greater Grand Central Station is golng to lie a powerful factor ln shaping the buiiding lines In the zone. And the translt lines to be bullt or in couse of constructlon.
namely. the ex? tension of the Sixth avenue) line of the Hudson Tubes to 42d atreet, the exten? sion of the StelnWay tunnel through 42d Btreet to Seventh avenue, and the Seventh L.xington avenues subways. wlll be another potcntlal factor ln moulding the buiiding forma at that point. The Chelsea district was also consplc iious in the week aa a result of several sales made by L-oula Schrag for cil. property at Klwood Mreet and Broadway.
The purchase. by Samuel EL Stone of tha Interest of the Kdgar J. Devey eatate in tha block front ou the west slde of Broad? way, between 150th nnd 151st streets, a plot of elghteen lots. The purchase by the newly organized Mi.idleton Realty Company of a plot at the southeast corner of 189th street and St. Nlcholaa avenue, whlch to erect an apartment house.
In the central Flfth avenue xone Ed? ward J. Hogan sold for John H. Booth and Jolm A. Riley. of Plattsburg.
N. to Brown Brothera Nos. 6 and 8 East 43d street, two story old dwelllng houses, on a plot 41x100.5 feet. Brown Brothera gave as part payment the aix story apartment house, known aa the Morrlson, at the northeast corner of 172d atreet and Audu? bon avenue. The lnvolved about $600,000.
The 43d street property wltl probably i be improved wlth a alzteen atory offlce buildlng. John Tonnele purchaaed from the' Twelve East Forty-elghth Street Com? pany (I. N. Pheips Stokes, president) the seven story loft and apartment buildlng No. 12 Kast 48th etreet It waa held at $200,000.
The Douglas Roblnson, Charlea fi. Brown Company and the Tonnele-Martln Realty Company negotiated the traaego tioa..
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