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THIRD SECTION EIGHT PAGES REAL ESTATE, GARDENS. FINANCIAL, POULTRY NEW YORK, SUNDAY, APRIL 13, 1913. Cowrtnht, 1M3, by the Bun rrtntlna and rubtitMnp A nocintlon. SKYSCRAPER FOR PROFESSIONAL MEN Rebuilding of Lower Manhattan Progressing Slowly!FR i UKlitD BY lnh Uli storios ir.'irii mid t.j Broadway Practically the Only Street Where Modernization Shows Prominently Vast Area in thei To i " rniisuiil Metlind Adopted to Hnise Money for Extend ing Seventh Avenue. Stain! nt West V.u Avpmio Financial District Still to Be Made Over Before It Is Up to Date-Effect of the New Subways and 72d Street. ?ni: nnraiiT vrom stoicks lOWXKKS OPPOSING IT IS U- M I !.l i.i I' i ii n ) 'J ) m jjpji . i j.jlu u i fntiMinl l'lieilities to Up Pro vided for Dnetors Will Be Started in May. A thirty-five story office building for tf.e exclusive uo of doctors, dentists, c;u2it3. architects nnd other profca klarjU men l" t be crrxl In the heart ' ci lift 'West Side apartment houe sec tion, the south' ast corner of Weat Knd ' hvetitie and Seventy-second etreet. It . ir to b the ta"o.t building yet planned ' r.rr'h if Metropolitan tower,, unit ni.: ti r' i lv fur occupancy next spring, 7Ji b- i 'iir t'i In' built by a com japv jr..f. s 'ml men under the ' raro r ' e w est :-cvoniy.socono: , p..rt mpanv. The fltf was pur- ih&rpil fr !" W ' l1 Stokes who ha 1 fwaod : ''urn It comprises sev- rrl dw""mr on of which was ncctl ji'.cJ f' rmer.y by the Columbia Instl- ..... Tl... p.-.n mil f..o ntnni U.t. U " ' ". ""- - , R.v.e. i nd street ami s icet on, Vf.t 1'n.l avenue. They are vacant. Tt.' niv owners will got possession of tw.i hoists ii'inut tln first of May, hr.i w' I s'nrt shortly after the con- frurtl-'n "f thf ta'lcst building that ha. 1 lfn iit'emp'cd In n residential section. It w .1 be of C,oth!c lines nnd will lip b'i:.' fmm plans prepared by Francis I Zl K m' a!! nnd Charles O Ilrown. The' f.-a!- of thp bu lding wl't bo of white p'vH 1 r' ' In inanv wavs the pro- 1 ' . 'd ncr w: 1 resemble the Liberty 7 -.ier at '! p northwest corner of Nas t .j an I I.'ber'y ntreets, probably th" (re Vj ' l-.r.c in New York In which CRJJ ! nas iled. The frticttire v' 'prm mtf In a peal; m the top- ! fii, wl'I be an opera'mu r"tn f ir .- f i'h'-!c nn tenants It will . .r"- t'.n north .lde of the floor nn I , ' r 1, ilf will b devoted t i a club , a V'o st.-eet floor wdl be walt'.ns ' ftr.1 tjr men ami women tia''eni" ,?hfi' TrTti r'.oi-i be boo'h? for dr-icslsw " (rmund floor. I'our eb-vnton ce-ve the bulld'nc. nn" of the-o 'e an nrranuement for hftlns ; .'to the operating room on the r mb-i:ancei will drhe ln:o a f :n the centre of the bulldlns i' re there i to be a turntable similar ued by ral'roads for switch- !-T ' icomotlvc.i. this way th space necessary to if . the turning of the ehlcle, will ' for the bulldlnc The com-, l misht the A K'.:imnn. property through BR0;U)WAY COMING BACK. 'Me nf IStlt Street Corner Hrir .tui'iiilnn to Its irowln Interejt. i-it much display the spctlon of, ' -iiv .uth of rourteenMl ?tret 'en malt.nc n succFsftil effort fo- , i . r ti to stem the tide tiwcrd "w Trereant.le section to the north , .v,i s'-re iwners are re'.mprovlnc v. ' vn'rl properties with hlch crade r l --. vu'!d!ncs which, offered at : -iir rn'oi than are nsked for struc t '. f ": up town, are mectlnc with ir-'a' fi-ir .nother sui'h Improve rr le riiad" on th? southeast c- er Hroadwav and Twelfth street. T-n Pot'i'sh Investintr t'ompany, I.wi r .n hn o!d tn a newlv formed r -r .n !tn"n as the Klcht Twenty o ar l K'cht Twenty l'our P.roadway r npanv ls property there, comprlslne a P t 43 4i:"', and hs commissioned " tl-m of Towner.d. Stelnle & Haskell i p nn n twelvo story fully fireproof '"r. oitl'-e and sal'sroom lmlldlnir to -r.' i'n n'.: moilern Improvements, with ) jrv irood elovat' rs and with every ( T e: e fire pr'n:!on Installation. T- 1i' :'ik l to be deslKned In the v -b-ri I'allan Rna!sanco nnd Is to to (.-i. i i pr:ni lpnllv for falesrooms f of town manufacturers or lm T 'ts nnl particularly for trades re tj . r'.rp r-irth llttht, th property having h n'u:e ..f 12." feet with northern e-' ' .! Th btilldlnir will be com ; ' r.t winter nnd ready for oc i "a--v bv rebruary of next year, s ri.ir lmprovmients are In con ; 'on In other parts of Broadway ) - v r 'ir'epntl! street, and before loni? ' ' fxpe'tfd Hroadway will be lined ( r h. st eiiulppivl butldlnKs In the H '-en:v the followlnc Tiulldlnds : y -. erfeted by the. O. H. Totter " ' -npanv: The Itawii'ljrh bulldlnc f : - nl'.i.'V opposite Hond .street, the ?! est.it" bulldlnir at Hroadway nnd 1" i s'r e' tbo OucRenhelm block i.' 1 Ward building at 709 Hroadway, r, WMph aro fully tenanted and ' c handsome returns on the In- r .utrh canvass of the present ' ' n of the rentlnp situation In the ' low Fourteenth ptreet phows f - , regions in rents In hutldlncs on f as Hroome, Oreene, Mercer (i " . 'or !n fact In some Instances '" i t.. in per cent., while on nroad- f'nnnl to Fourteenth ntreet " t ' ient in vacancies appear. "' S'lIldlnKS rontalnlnt; 1.742 ' -i In tho section named, J 4I ' nnd to bn vacant, cnnstl ' ' i i ent. of vacancies, and euch ' ' I motly in buildings which r i' .ip. dated and without modern ' ' ' .ate lmprovpmonts. PARK AVE. APARTMENT SOLD, 'nt .;iT."i,oon Paid hy Tfew Vorker tor N'.M s,rrrt nalldlnv. ' U Kll'man & Co. have sold for i a I'.ealty Company, Fam- II r . president, tho new nlno r apartment house known at to iss Hast KlKhty- !!. upvlnc a plot 7r.xt0:,2 'i I'.nis mill i.oMnsjton avenues. ' : rv 't!!'. i een held nt 537n,nnn ' s teen bn'iKlit by a Will known t 1 'f .N' w York for Investment, o s -e was nciiuired In Pccember, MiA, Mtf the present scllera and the . . - --WAwwtw ay. 'iV 4 MW' Sr- ,' X'sSS rorin inn ' 1 rw kJi I i urn i;t i .uiimuiin , t V rrrxrid'y.'' ? v I" X,l I ft ' ' hmv I I in rW Villi I I I M fc w Ml m X. Since the buyers of tho Kcpiitable Life Assurance Society's block on lower Hroad way announced they would erect a thirty six story ofiico building in tlio place of tlie old building which was destroyed by flr last year tho building movement in lower Manhattan lias come to a decided halt, 'lliose buildings which were planned at the timo or for which sites had been purchased nro being carried to comple tion, but nothing nw lias been announced. It is Klid that with tho new I'quitablo Hullding and the other office structures now being erected' that part of tho city will havo n nupply of rentablo hwci sufficient for several years to como. Willi tho cessation in building operation there lias come a decided dulness in the sales market for downtown proxrty, brought on no doubt by u mistaken belief that values in that part of tho city have reached a point beyond which they nro not likely lo go far, Those who assess downtown real estate for purposes of taxation make llttlo changes in their figures from year to year, while those looking for large, demolishing of the old hulldlnn wna started early last year. All of the thtr-1 ty-slx upartmentH In the building, which bring In a gross rental of more thnnj J37.0OO, were tented by August 12 by tho ,Klllman company, which Is tho agent for the property. , Modern apartment houses on the Kast Side havo become recently attractive InvistmentM for mnny N'ew York peo-1 plo who have had some surplus capital. VUlto n, milliner oi llieill nnve iiri-ii rum during tho lust year or two, I -A "Umb H U I if n TC Izl 1 rJS HI 20 5tories or Morev. X $7 10 to 19 atoris bLi V " " or I i H Uner Ten. 3tories 9 ' - , - -.w - w , lw, quick profits from realty trading seek property in the newer uptown districts, whero crowding population is cnusing block after block of privule houses to give way to huge apartments. lower Manhattan does move slower inau no some otuer pans oi nie tsiuiKi That fortunes still nro to be made there is, however, the only conclusion that caul no drawn irom n stuuy or the section as it is to-duy. Urn accompanying map of tho district below Chambers street, commonly known as the financial section, was arranged with a view to showing what portion of the laud in that area is fully improved. A glance will satisfy i thnt tho rebuilding of this portion of thn city has only begun, and thnt what has been accomplished is merely as a scratch ing of the surface. Withal tho reputa- tion New York lm for being a city of skyRcraiiers thero nro but on even twenty of structures south of Chamberi street which measure up to twenty stories or more, wlillo twico thnt number would morn than include ull of tho buildings MANHATTAN PUOI'KIITY SAI.KS. KAHT lOflTII STHHRT The Henry Kilns Hrevvlng Company hn bought from Teresa Tuozza 321 Knut 109th street, h five story tenement with stores, and a two story building In the rear, on lot 2r1xHiO.il. Tho miiHldr ra tion was f!7,ri00. WKST 13TH STKIWT Itobert Levers haH Bold for llertha Holland, 302 West Thirteenth Mreet, n three story lofl building on plot 36.5xll Irregular, to n Investor, from ten to twenty stories high. With all the land excepted that is im- i proved to its highest iim, as well as yll land winch is u-ed for public buildings. parks, markets, c hurdles, school and ' t tie lil.o, theio still remains a vast area oi property encumbered now chielly by buildings which long ago teased to satisfy tho domiuid for modern offices, I all of which, sooner or later, is likely to be called into use to give sites for modern buildings. Hroadway Is th only downtown stioet that begins to show a shortage in property available fur reiniprovement. Another doyen or so of bull, lings of the size of tho average office stni'-ture cm find acconiinodatioit fnuu Hattcry Place to '.numbers ttieet. and then Hrnadw.iy i will ho thoroughly modern The west sidn of Nnssau street and Hroud street down to Heaver resemble Hio.idway in this respect, but the easterly side offers almost unlimited opportunity for office building expansion. The east side of Trinity place, tho back door to Itroad- FIFTH AVF.N'l'R Alice V. Anderson hnR sold tho five story flat at 21(13 Fifth avenue, on lot 21.11x00, adjoin ing tho northeast corner of 132d street, flAliF.O IN Till". IIIKtT. CLINTON AVHNTK A. II. I-ondcker has sold to Mnx .f. Klein nnd Ignatz Roth 1K32 to 1R2S Clinton avenue, four two story dwellings, on plot 77.1x I way, also is practically complete, but itho west side and almost tho entire area lover to the North liiver and the section ' west nf Church street have more whole blocks, without a single modern structure .on them than there are re.illv modern buildings m theetitiieterritoty The same is lino east of Nassau street for practically all of the reconstruction , there has been limited In a few blocks in the immediate vicinity of the Stock j llxchanpeandtlie.Suti-TreaKury. j Itebuilding in lower Manhattan has been : steady but flow. Fifty buildings that can 'be called modern about fill the list of opetations lh.it have been 'conducted 'during the last fifteen years, for it is 'about that long ago that the first strue. Mure appeared which buildeis of to-day icgard as lasting and permanent. In that list Ion will be found all of the build tigs for which even tentative plans have been made but which have not yet been erec ted. Sieeal inters! centres in this lower section of Manhattan at this time because 00, between 17.r.th nrd 176th street This properly was given in exchange for the Hoffman, 11 six slory apart ment house, on plot fi0x00.11, nt 230 nnd 2)1 West Hist street, the sale of which was reported yei'.i tday. llltONN TKHUACH- The Healty nnd Commercial Company has sold on Hronx Terrace, east of White Plains road, to T. lnnocetno a plot, foxioo, facing Kdlson avenue, nnd to Con stantino Uernrdl a lot, 25x100, facing Edison avenue. of the new subway lines from other bor oughs which will pierce it at vai ions points Heal estate men are si inlying this siliia- lion closely, for many believe that rivr.lt t Hroadway will bo created by the under- ground roaiN. Nassau and Willi.im streets and Trinity place are to have subways running under them, with stations at frequent intervals. Iick of such facilil it's undoubtedly has had much to do Willi the congestion of high buildings along Hroadwav and the scarcitv of 1 hem in other parts. Hy these three roads prut- 1 avenue. In this part of the building aro tically the whole of the unimproved down-1 the employees' entrance and Hie freight town area will be thrown open to quick ; elevators. The business end of thn communication with other arts of the structure, nlmut 300 feet will bn taxefl city. Almost all thai has been said about I for tl per cent, of what the Tax Depart the new st.bwav lines has tended to show ment thought It was worth las vear. their great benefit to the suburbs. That The Trinity t-orpora Ion ir l b. he .. r .1.. ' heaviest taxed owner for tills Improve- ..mmwmim.oow,..,. n , mm .,,, - improvement cannot be doubted, mid since all the new roads will converge in the lower part of Ihe island it will not be without its gain. Probably that is why expert real estate men are studying the district so carefully. BIO l I. CITY I'MIT soi.n. Wallace ,t, Haidgrove, snles nmnnger of the QiieriiHbcro Corporation, has sold for a client for 3n.eoo. to W. 1), Hamil ton of Pittsburg, Pa., a pint containing 4,7fiO squate feet with a fiontiige of 100 feet on Jnekson avenue, located nlmut two and one-half blocks fiom the Hililge plaxa nnd adjoining the six story fac tory of the Goodyear The Company The property waa bought as an Investment. Properties Miles Awny Koavily Taxed Different Ifnfes on Adjoining Hnildings. Manhattan property owners are pre pnrlnR to oppose the plan of making their borough pay practically the cost of tho extension of Seventh avenue south to Varlck street nnd the widen ing of that atreet, nil of which It Im provement necessary to the. building of the new Vet Sldo subway approved re cently by the Public Service Commis sion. For thlt teason owners think thn cost should bo levied more evenly over the greater city, since It W nn Improve ment nssoelHed with the subway devel opment whli h Is tn benefit every bor ough. I'nder the extended street tho city Is to operate n subway from which It Is to lecelve a revenue. Without the extension the building of a West Bide subway, one which would nhswer best i the needs of the public, would be a very difficult matter. As the city will benefit from this Im provement It Is thought the expense should be borne by the city and not the propet ty owneis In this borough. Thii Is to be tho bone on which the tight Is to be made. I'.epresentntlvcn of owners have been collecting data to show that the placing of the expense of this Improvement on the shoulders of nearby owners Is unprecedented. Sev eral years ago the city undertook thn widening of ri.itbush nvetiue, Pulton street, Ashland place and Hudson ave nue In Urooklyn, an undei taking that cost about iri.OOO.OOO. The expense of this Improvement was paid by the city, since It was considered nn Improvement that would benefit directly or Indi rectly the entire city. No assessment were levied for the widening of Fourth nenue when the old subway was built, nor was an assessment placed on prop erty when l'.lghth street, 110th street land Delancey street were broadened to 'accommodate Increased tr.iflle. It was the original Intention of the city's financiers to have the $12,000,000 that this undertaking will cost paid by the entire city. Last January the Hoard of Kstlmate had a change of mind and laid out a plan by which property owners In various section wore to havo ndded to their tax bills the cost of the Improvement They llcured out that since the Im provement was to be In Manhattan that I norougn wouill no nie inon ueneinen , and therefore should pay the greater part of the cost. Accordingly per cent, of the $ 1 2, 000, (100 wits saddled on to Manhattan ownets, II per cent, on Itrooklyn and 4 per cent, on The Hronx The wall Is greatest from Manhattan owners, who teason that besides paying t'e per cent, of tho expense of the entire city they must pay for nn 1m- proxemetit that Is to benefit Urooklyn and eventuallv Oilier boroughs nltnot as much as u s Manhattan, slnre It facilitates the building of the West Side 1 subway which will connect Urooklyn land (Jueens with this borough and the other subway routes, The ceneril assessment for this Im provement mi Manhattan owners will be t! per cent, nf list year's taxes. Till' will atnoii'it to nlmut a dollar for every thousand dnll irs value In teal estate. Ileslilcs the general tax there Is to be a specific tax. This will be levied on pioporly west of Hroadway between I.lb-rty and I'lfty-nlnth streets. Prop erty within 10" feet of the Improve ment will be taxed at the rale of 20 ' centu a square foot. Property outsld of this urea will be taxed is cenm a equate foot. The southern line of the area to be double taxed will pasi between the City Investing and the Singer buildings. The former structure will have tn my a general tax of neatly 1 $.non and spicule tax of a llttlo over I J7 ood. Tho Singer llulldlng, which i . ... ,.. . i. illiiot escape beMlg iieneiucu in in" same measure as lis neighbor, will pa only a general tax of $0 7e0. There me any number of such oddities. Vnr Instance the pmporty -'I 1,1 :' iiov' enth avenue, which Is north of Klevetith Uteet.'tbe north boundary of the area to be taxed at the 20 cent rale, Is to p.iv a specllic tax of JP47 and a gen eral ta.x of $o. The Plaza Hotel, north of this property. i! to pay a eeneral lax of $7.0. . The o-lmrne. nt Seventh avenue nnd I'iftv-sevin'li street, which Is equally teinoie as the I'lna but which happens n bo within the dniiblp taxed arpa laid .... .i... ii,. .-.1 I.'utlniutiv Will ll.1V '""", ...''...v nd'a l.K.t general tax T.ie v aiiioi i-,siiu i.i i-.'j general tax of $13.71". Olmbel Urns, will p.iv a geneial tax, but no specific, tax. although the property adjoining it will have to stand (Iniinie taxauon mr the same Improvement. The rear 100 fret of the Macy store will be double 1 taxed, as it Is within -iOO feet of Seventh ()f ,,,, ,.,,,.,.,,. 1 ' : ,,, ,,. llmllK. assessed area, and Trinity is the lnrgest owner In that part of the West Side which It Is thought will be benefited. On the 134 parcels owned by the c.irpor.-.tloa Ihero will bo a total tax of $202,440. hksf.i.i.inc; ciiiix i.KAsr.iwi.ns. Negotiations are well advanced for the sale of the leasehold at 43 to (7 West Thirty-third street by the bomlholdei s' committee of Henry Coin's Impinved Propet tv Holding Compnto It Is a six stoi. v loft building, on a plot 11 j Jvlis.'.i, near Hro.nlway, and Is one of llie pioper lies boiisdit In at auction on Pilday by fiie bnndholdeis A ileal lias alio prae tlcalb been coiieluded for llie leasing of the Itivant Amide building, at the iimih. eiist corner of Sixth avenue ami Forty, second treet, to Walter J, Salomon for the remaining term of the leu.