The sun. [volume], November 10, 1918, Section 2, Image 15

About The sun. [volume] (New York [N.Y.]) 1916-1920

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Jstttt
SECTION 2
EIGHT PAGES -
Real Estate Sports Rod ah Cmv
Cards Automobiles Gardens
NEW YORK, SUNDAY, NOVEMBER 10, 1918. ownM. m, n a jtw putiwe a-qcumm.
NEW YORK, OPPORTUNITY CENTRE OF WORLD WITH PEACE
RESTORED, PRESAGES UNPRECEDENTED REALTY SITUATION
With This City as
Greatest Finan
cial and Commer
cial' Centre De
mand Never
Equalled Will Be
Made for All
Kinds of Space
Dr JOHN 1. PAnisn.
Perhaps befoYe this Is published the
jjoato iyhi imvo nmvoa out,
whether or not, nobody believes It will
' ts long- delayed. How much It means
to uie wona our people showed, perhaps
subconsciously .on 'Thursday.
War, as wo of America, have waged
It, Is great, wns justified: we feel satis
fied of that, but peace, we are all able
to see now. Is far greater. Indeed we
ef America have waged war only that
peace, universal ana abiding peace,
might come.
War has meant to our real property
Interests only strain and hardship and
riiffering and loss upon loss even to the
verge of destruction. Peace, wo know.
will bring relief, sweet and promising
relief and prosperity for many years
to every branch of our market. From
the day of the great peace forward wo
can begin again to build and develop
end Improve and enjoy the earth.
Of the magnitude of the Job that West
before Us no mind Is able fully to con
ceive. This much we know that, where
as our growth In the past has been phe
nomenal, beyond -historic precedent,
from this time forward It must and
Mill 'be far greater.
Those who have been taking note of
the effect of the war upon our country
nnd lis industries, and especially upon
our city, know that for the work that
Ilea at the hands of all tho world to
lit done the world's work that must be
done, the United States as a nation
una the city of New York as a great In
dustrial centre ore better equipped and
prepared than any other nation, any
tither city In the world. s
In evcrjnhlng that goes to make a
great Industrial and business centre In
natural advantages, in resources of ma
terials, exchange, financing, transporta
tion, labor, advertising and growth,
there Is no place on earth that can
compete with New York city. It Is
consequently the world's centre of op
portunity. Is It too much to expect that from
this day forwnrd her growth In popula
tion. In productive capacity, In wealth
and the distribution of wealth will be
more rapid and greater than over be
fore? Not boastfully, for that Is un
necessary and would be unseemly, but
ns a mere statement of fact, we may
remind ourselves that In our unequalled
facilities, natural and (developed, we
have tho foundation for an Industrial
grqwth such as exists nowhere else In
the world.
In the readjustments that are bound
to follow the conclusion of the Great
I'c&ce will not all eyes be turned "toward
New York asvthe place of superior op
jxirtunlty for all men of ambition, re
source and capacity? T know now
that one of the first tasks to which
America (must apply dts energies ils
that of vastly Increasing the supply of
food, of wool, of leather and of all
other necessaries of life. So much has
been destroyed by war that' It will bo
years before tho normal sources of sup
ply of many things can bo restored to
normal conditions.
Another primary requirement of the
times Is the building up-and extension
of our transportation systems. This
will require more mining of coal nnd
Iron, more making and milling of steel
.nnd Iron, more building of roads and
waterways, more creation of mills nnd
machines, of all manner and description.
New York city, at the main gateway
cf the nation, wilt handle most of these
Jobs, wherever the actual work has to
i done, and will be the first and fore
most market of supply, exchange and
distribution of all the producers and
Ihelr products, of the financing .of all
the greater Industries.
More than this. New York city will
nfford to the business man more of all
the things he turns to for amusement,
entertainment and tho satisfaction of
r3thet!o desires for himself nnd his
family. In larger variety and combina
tion, than any other place on earth. If
there Is grqwth and prosperity In pros
pect for any part of the earth, New
York city will have Its full share of It,
nnd will have It first.
Many observers of local conditions
have felt that the end or the war would
Inaugurate a great revival of trading In
the real estate field and a great revival
In construction, too. There Is not much
doubt that basic conditions are ripe
for a revival of Interest and activity In
both these branches of the market.
But there are factors in the situation
ttst Indicate that the improvement
must be evolutionary Jn character rather
than revolutionary. There Is still a con
i.derable quantity of Industrial apace
t;it of use, and the rate of Income ob
tainable from business property Is not
large enough to Induce capital Invest
ir.ent In further production In general,
bt present cost of production.
Tor residential space the demand is
treater thnn the sunnly. and Is growing
tit a rate that will soon. If It does not
already, make new building operations
Justifiable. If not imperative, even at
the prevailing high cost of production.
iJut even such operations will be under
taken only In exceptional cases nt prea
nt, because of the prospect of lower
t.crl of materials and labor ns soon as
Uncle Sam withdraws from the com
j etltlon for these two commodities. Even
jf thi decline toward the pre-war or
formal level of costs should be only
ttrtlal, every builder will wont tne oen
st!t of that decline and wlU wait for it
V-th than hnll4 nt tireeent eo.t only tO
I b compelled to compete in the renthig
jirarket a little later on with buildings
produced nt a quarter less In coat.
furthermore, the question has often
Ven asked: Where will the money
tome from with which to finance such
tiilldlng operations as New York lias
Veen accustomed to? This is the com
tnnn form of appreciation of the fa,ct
that In the financing of the war the
Government, - through Its war lonrw,
drained the realty market of Its ready
Mi"ney ; so that ordinary refunding oper
et'ona even have been nearly suspended,
end no money was available for now
ccr.rtructlon and development.
All the big lending Institutions, tho
Itfo Insurance, title and mortgage com
rtnlea and savings banks, nt the en
tiance of the United States Into the
world's war, withdrew at once from the
rrrular line of financial operations and
ocntecrated theriselves and nil their
resources to the winning of the war.
Not one dollar for
until this war Is won." was the answer
given by the president of one of the title
companies to all applications for loans
far building Durrj.eR. nnd that fl.
spirit of the attl'ude of all the rest.
nut now tho war Is won and thero
vrlll begin at ones an urgent effort to
fift Kft.b' t'-IA-M-l - II, t - . t I
" " w iivmiibi UUilUillUlUI Ul U U 81-
ness of Juylng and selling of proper
ties and of improvement and relmprovc
ment of them. .The opportunist will see
no obstacles to the immediate resump
tion of normal conditions. Ills needs arc
Unrein and he will brook no restraint.
But every step toward the restoration
of normal conditions will take time.
will Inevitably take time, nnd Mr. Op
portunist will have to wait.
iienojustments are coliur to be neces-S
nary m tne costs of materials and labor,
aawel! as In the supply of financial ac-i-'omrnodatloris.
The latter will not be
neeooa until the former have been
achieved. It is safe to say that finan
cial accommodation will ba supplied to
every dcm&nstrably safo and commend-
nblo operation when and as heeded. '
T , I- MnM .V. lit.-,.. 1 . . ,,T
o miviu i. iuii unvty nun mo earner
forms of financial operations In real
property will reveal some changes nnd
innovations in method. Large Hums will
only be obtainable probably through
some system of undorwriJiiig by which
the loan will be Issued to and absorbed
by the public In the shape of guaran
teed bonds or participation certificates.
The enactment of the Gilchrist bill at
the last session of the Legislature was
designed to facilitate this form of trans
action, and the cpurso of the market
since July 1 shows that there hns been
a continuous growth of business along
jnai line, une tun companies have sold
more oeritiflcalcs of inrStn.itlrm, frn
mortgages In the Interval,' than they
have of smalt mortgages.
Making these guaranteed certificates
a lawful form of investment for trust es
tates has served to supply the needs of
the market to a limited extent, but their
best effect has been to demonstrate to
all Investors the absolute safety and
profitability of this form of investments.
That thore is money enough In the
country to meet all tho demands of the
oxpeoted Industrial revival is not ques
tioned by anybody. The war has not
only diverted the flow of currency from
Its usual currents but It has operated
to greatly augment the supply. In the
readjustments that are coming the flow
of this currency will Inevitably be turned
back Into normal channels and so bo
made available for normal uses.
The savings banks, probably, will be
tho first to. feel the effect of this restora
tion of the currents of finance to their
normal channels, and they may thus be
the first of the Institutions ready to
meet tho corning demand for funds for
real property Improvement But It will
not be long before Individuals, insurance
ccitfponle mortgage and title companies
will alt be ready to respond to the de
mand for all legitimate requirements.
There Is a spirit of conservatism In
control of all financial Institutions, how
ever, and there will undoubtedly be on
countered with all of them a demand
for a larger margin of Investment by
tho,borrower In any new 'operations to
be financed for a long time to come
than has hitherto beon the practice.
Fundamentally tho market Is in
stronger condition than before for a
generation. Tho demand for rentable
apart is in general larger than the sup
ply, nnd is persistent. Consequently
rejits are rising and investment prop
erties are paying better than ever.
Lenders are glad to note that condition;
It helped them materially In tiding tho
market over the most trying, critical
period It has over known; and If all
know themselves and they .think they
do. they do not mean to do anything
that will ever hereafter threaten the
stability of that market. Wherefore,
conservatism is the order 01 me aay
and there will be no danger for a con
Iderable Deriod of anv "borrowing out"
or overproduction of buildings. -
was approximately $32,500, and rentals
averaged 16.50 to 17 per room per
month. Buch a building, constructed In
lvlC. cost 140.000. and rentals wero
about (8 per room.
A building of. the same tyrje. recently
finished, cost $0,000, and the rental re
ceived Is about $10 per room. New
construction at this time has practically
ceased. The increase In building coots
over five' years ago appears to be ap
proximately 50 per cent., although many
builders maintain that the cost Is even
greaterl ,
'Ahe copulation of the city la con
tinuing to grow. It Is difficult to seo how
It will be possible to prevent rents from
further advancing, (Mounting construc
tion costs and the Increasing dlincultles
of carrying on such work are blocking
the erection of new buildings,
IMtany old structures will be re
modelled or Improved to meet the de
mand for more space and also to put
vuch older buildings on a better Income
ttasl. Tilts tends to the conclusion that
the older structures will tend to become
Intrinsically more Valuable, thus increas
ing tlie margin of safety securing ex
isting mortgages on such structures.
Owners of the older structuff.swenow
able both to Increase income and Im
prove the character of occupancy by
close attention to upkeep."
N. Y. iOTS PREFERRED
TO INLAND BUILDING
Tall Cleveland Structure Ja
graded for Downtown Land.
Itflectlon of tho interest New York i
city property holds In other cities of the,'
country la a transaction Just closed
wh.ere.bv a yndlcato of capitalists of
Cleveland, Ohio, has become the owner
1 I'"1'
of a tract of 17B lots at Douglaston erty J. W. Doollttle, who -negotiated the
Park. Douglaston, L. I
The syndicate, which is organized ns
the Seven Forty Superior Ayenue Com
pany, J. a. Ituuel) president, parted
with an improvod property, the ferry
Payne Building, which yields an annual
rental of ,$7S,000 In order to secure
IMseKlon of Uie lots, which the syndi
cate purposes to Improve with dwellings
as soon as general conditions permit.
The Porry-Payne Building Is located
rat 730 to 740 Superior avenue, Clcve
lnrd. TJvls has been taken by the Doug
laston Realty Company In parO payment
for the Long Island lots, In which prop-
Low-Values and High Rentals Make
Ownership in Midtown Section Desirable
Ownership of real estate Is considered
tho safost of Investments by Edwin II.
Hess, president of M. & L. Krss. one
of the oldest real estate concerns spe
cializing In commercial property In this
dty. Mr. Hess said .that permanently
owned ' realty can1 bo made to earn
greater Income than any other invest
ment that he has known or heard about.
In expressing himself on the great possi
bilities of realty Sir. Hess hud In mind
the midtown section, that between
Fourteenth and Thirty-fourth streets.
This section and the blocks to' tho BOUth
as far as Canal street havn depreciated
more than any other part of the city.
In view of this It Is Interesting to note
tho reversal that has se( In In those
neighborhoods of low values. It might
bo Bald and without danger of censure
that more profits -havo been secured
from the sale and resale of realty In
these parts than any other on Manhattan
Island. Rentals are substantial, and
figuring values as tho market Is prone
to do, fees In the midtown district
should be very much higher.
"If you Invest your money In Govern
ment bonds,' said Mr. Hess, "you are
protected by the greatest security pos
sible. You receive about 4 per cent.
Interest. If you invest in a modern
business building you can receive 14 per
cent, on your money with Just as great
security as the United States Govern
ment bonds offer, being that tho real
estate Is an integral part of tho assets
of the Government. You may credit
your Interest account with the 4 per
cent! and amortise your capital with the
remaining 10 per cent., nnd tn ten years
the Income would still be received even
though the Investment had been paid
back in Its entirety.
"These properties should, however, be
purchased and owned as permanent in
vestments, and they can be made to re
turn a larger, safer and more perma
nent Income than any investment in
the world If the Investor will conduct
the physical and scientific management
in a manner that will be Just to himself,
tho property and the tenants.
"Vhether or not there be a temporary
depression, alt mechanical parts must
be kept In perfect running order. In
fact, any repairs or alterations that
would forestall depreciation must be
made at' once. Tho attention given the
tenants and the efficiency of the em
ployees who operate the building Is Jutt
as Important as in your office.
"This la a good time to purchase such
properties because Jhey havo bad many
"upa and downs' In tho last ten years,
mostly 'downs.' Mortgages have been
materially reduced and have in tne main
been placed on a basts upon which
near Jefferson street, Weehawken.
price Is reported nt $102,600.
TAKES GI.KNDALR COHNRIl.
J. J. Deboe has bought the plot 114x
123 at the southoast corner of Flushing
avonuo and Emma street, Qlendale, from
IC Meruk.
.commodities, will remain (high for some
tlirio because of the abnormal cost of
labor, heavy taxation, shortage of steel
nnd all other bulldln'c material, and the
underbuilt conditions In nearly all Amer
ican cities."
DO PONT CO. DUY8 I If JERSEY.
K. I. du Pont de Nemours Company
hns purchased the warehouso building
at northwest corner of Washington and
Morgan streets, Jersey City, from the
Rtegcl fiack Company.
GREAT PERIOD
AHEAD FOR REALTY
Unprecedented Construction
Promised Sites "VYi11 B.
Worth More.
COMPETITION IS NOW
AMONG TENANTS
War Has Reversed Conditions
Falling Off of Building
Sends Rents Up.
Evidences multiply that, concurrent
with the end of tho war, there will be
gtn an extendeff period of unprecedented
m-ttvltv In nil branches of the build
ing and construction Industry, according
to S. W. Straus of S. W. Straus A: Co.
"Housing conditions In near'y every
principal city to-lny are far below nor
mal. Building permits In the twenty
lending cities of the country In August
totalled only $22,000,000, lncludjng all
Government contracts. In New York
city and the district surrounding it for
100 miles, exclusive of Philadelphia,
construction work of all kinds during
the last seven months has fallen off $7
per cent. It will take a long period of
years of most active building to bring
urban housing conauions again u
nbrmal state.
"While there win be a tremendous
augmentation of all lines of construction
work immediately alter the war, mciuo
Ing an expenditure of several billions of
dollars In railroads and highway Im
provements and the deepening of rivers
and harbors, the speeding up of building
operations on a large scale will take
precedence over all other phases of stim
ulated business.
"This will be due to the fact that the
home Is the first and most vita! essential
LESSEE BUYS APARTMENTS.
l'ays Close to 5no,000 for Wash
ington Heights Houses, '
The Chateau d'Armos. a six story
elevator apartment house on the south-
eait corner of Fort Washington avenue
nnd lClst street, and the Honda, a simi
lar structure on the southwest corner.
held under leaso by the Leonett Realty
company, iou!s Hcniccnier. president,
for the last two years, have been pur
chased by tho lessen from the Brelm
Realty Company. Tho buildings each
havo accommodations for forty-two
families and return an annual rental of
about $70,000. After two years' control
na lessee Air. Bchlechter found the re
turn so great that he decided to ac
quire the fee and Is understood to have
paid close to $350,000, the price at which
tLe buildings were held. The buildings
wcro creeled In 1913 by the Friedman
Construction Company, which worked
with Harris and 'Maurice Mandelbaum In
tho development of the Loyal L. Rmlth
eslnte 'In that section. The Chateau
d'Armos, on tho southeast corner of the
thoroughfare, wns built In March and
covers a plot 102.2x1 45.10 The Ronda,
on the BOUthwest corner, occupies a plot
102.2x125 and was commenced In July,
In January, 1916, theso properties wore
sold to tho Brelm Realty Company, com
posed of Lawrence, Leonard and Bar
tholomew Jacob of Lako George, who
gave a Broadway property In part pay
ment In a deal that Involved realty
valued nt more than $1,000,000. The
new owner alto controls ?7 Fort Wash
ington avenue, another apartment
liouse on the block above.
TENANT FOn T4TII ST. HOUSE.
Douglas L. Elltman & Co. hnve leased
the four story American basement dwell
ing at 152 East Seventy-fourth Btrcot
for Dr. J. P. Hoguet to Channlng T.
Wiley of Gladstone. N. J.
Henry Hot has leased for Francis J.
Lantry the dwelling nt .385 Eost Forty
second street to John J.' Kllcommlns.
transaction and developed pouglaston
Park, retalnsJhn Interest.
The new property of the Douglaston
Realty Company Is within two blocks of
the site for the proposed union station
of all rnllroadH entering Cleveland, es
tablishing a terminal In the centre of
the city, Uie Intention beln? to use tho
preaunt pa.isenger facilities on tho lako
front for fi eight. The proposal has been
favorably ocud ipon by tho Bo,rd of
AMernien lind will bo voted upori.nt-the
next ejection. ,
B3D ST. IJWELI.IXtJ DEAL.
Tho fur story dwelling, on lot 10x100.5,
at 62 East Fifty-third street, between
Pnrk and Madison avenues, has been
sold. Elizabeth II. Rtknton Is the owner
of record. The buyer flfll occupy the
house.
STEEL MAN BUYS BRONX SITE.
Takes Dlock nnd n Half In Port
Morris Section.
A block and a half of property In the
Port Morris section of The Bronx was
purchased yciterday by Robert Grant,
a steel manufacturer with offices In the
Woolworth llulldlng. The property was
held In the market at close to $200,000
and was purchased by Mr. Grant for the
v.irpose of developing the site for his
business. The purchase Includes the
plant of the James II. Young Stone
Company, expending along the south
side of 136th street from Locust to WbI
hut avenue and back half way to
135th street, and the block to the west
bounded by Walnut avenue, 135lh and
136th streets and the tracks of the New
York Central Railroad. This Is vacant
and was the property of the Port Mor
ris Land and Improvement Company up
to yesterday, when contracts were
signed with Mr. Grant, Tho block con
tains twenty-two lots and will be devel
oped by Mr. Grant, Just ns soon as peace
roines. Tho stone company properly will
be used Immediately and a siding will
be run from the tracks of the New York
,1
Higher Valuations
Expected, to Fol
low Peace Mort
gage Money to
Return as Soon
'as Currency Is
Turned Back to
Normal Channels
Central Into the property. There la a
one story building on the Young prop
erty 30 feet high. The building has. s.
frontago of 350 feet on 138th street and
100 feot on JLocust and Walnut avenues.
Eugene A. Walsh negotiated the deal
The Cross Drown Company, agents
for the Port Morris Land and Im
provement Company, represented the
company In the sale of Its twenty-two,
lots. '
ivTEitnnnouGii flat thadb.
Nathan Bernknopf has bought from
Raohel Shorr the two sir story tene
ments at Si 2-816 East Ninth street, each
occupying a plot 41x100. The property
was held at $80,000. In part payment
the purchaser gave the five story tene
ment on plot 50x100 at 036-937 DeKalb
avenue, Brooklyn, held at $36,000.
OPERATOIIH RESELL OX 7TFI AVE
"Che Markham Realty Corporation,
Clnrence W. Eckardt. president, has Just
resold 23C Seventh avenue, purchased
about ten days ngo from the heirs of the
Van Buren-Wood estate. The property
Involved, 'comprising a four story store
building, between Twenty-third and
Twenty-fourth streets has beon bought
by Mrs. Ida Seligman, who will occupy
a portion of the premises.
MEW JKMEY REAL BSTATE FOn SAIJE. I NJ5TT JERSEY REAL ESTATE FOR SALE
of even-day existence, and the super-
mnrtiMtlnn ( romnulsorv and in com- I fluous man power which will bo nvoil-
paraUvely small payment earth year. The i able Immediately after the war will first
rentals have been Increased to a lair I oe neeaeu in mo emiurai ui iumc,
Reversal In the rental situation In this
city Is so generol that It would seem
that leal estate should be attractive at
this time from every buyer's and owner's
standpoint and the future 'should be
one more promising than ever before.
Referring to this change the Bulletin,
the official orgaa of the property owners
of the Twelfth and Nineteenth wards,
says:
rvwnrvntltlon amoTii; the owners or
property to secure tenants for desirable
vnmnt nn.irtmenta has ceased. Tho
situation iias become reversed. Tenants
now compete with one another to eeoure
desirable apartments. The old law of
'supply and demand" applies to the occu
pancy of realty as It does to every other
form of competition.
"A few years ago New York was over
built There were more apartments,
lofts and offices than there were tenants.
This resulted In considerable loss of
rentals, frequent moving, cost of re
decorating apartments, &c It became
a custom b certain classes of houses to
grant one or two months' free rent to
new tenants. In others substantial re
ductions were made In rentals during
the summer months. Due to the rapid
falling off in the erection of new build
ings, however, conditions have now be
come changed.
'It Is evident that the high cost of
labor ami materials will not drop sud
denly even after the war. The devas
tated portions or Europe musi oa rouiun
and the terrible los of manufactured
products must be supplied by this coun
try. With the high cost of erecting new
buildings, the price level of thosw now
erected must of necessity gradually
increaso. It would probably cost as
much as BO per cent, additional to
roplaoe any existing building. The
Bteady Increase of population In the city
will receive a. tremendous Impetus soon
nfi. ihn war when tho Immigration
which was stopped so suddenly four
years ago will again begin. All of this
will result In n very decided Increase
i hn values of "buildings now erected.
"An Interesting memorandum was Is
sued recently by the New York Title
and Mortgage company, giving ic i
...it it. invrstlralton of building con
dltions, as follows : 'For the purpose of
this .comparison, we nave iokcii u u.
unit of construction a lypinui uu ii.,
ti.. i.r-1.ir walkun nn(rtment house,
.ir. knss. on a Plot 56x100, In Tho
rmnx. The actual cost of construction
of such buildings about flv years ngo
but not excessive basis.
"The zoning law permanently' prohlb"
Its the possibility of tenants discarding
a locality at will. The Save New York
Committee augments the activities of
the zoning law with still more drastic
rules for the benefit of the retail sec
tion and the city at large.
"The lending Institutions, which, by
the way, are responsible for building
conditions In general, have learned that
It la not wise to build unless the success
of the new operation (s assured, and
that other localities will not bo made
to suffer. Thus, this phase" of the sit
uation Is safeguarded.
"I see no reason for a boom In real
estate, nor do I think that we should
have one. I ceo no need of more busi
ness buildings. The demand has Just
about reached the supply. The end of
the war will automatically furnish all
the additional spaco that may be need
ed for expansion by releasing for other
purposes what Is now being used for
offioe and warernom purposes. Of course,
this process wf.l be very gradual and
practically unnotlceable to the general
public.
"Properties In the midtown section
between Fourteenth and Thirty-fourth
streets surely have great possibilities
In addition to the present substantial
Income basis upon which they are of
fered, -f
"Such corporations as the Western
Electrlo Company and the Liggett &
Myers Company and many others have
selected vast areas of floor space for
their executive offices in the neighbor
hood of Broadway and Twenty-first
street
"On Sixth avenue and on Twenty-third
street, where a few years ago the own
ers wore panic-stricken upon the re
moval of the large retail stores, the
buildings now are completely occupied.
On Twenty-third street rentals have In
creased so that now the properties are
mostly upon an Income basis.
"Fourth avenue retains Its staple and
substantial character, not only1 as to Its
Investment possibilities but also as to
Its tenancy, which excludes all manufacturing.
"Madison avenue, on the other hand.
has many large buildings occupied almost
exclusively by manufacturers and by tne
silk Industry, which do not manufacture.
"It Is not my purpose to give the im-
preselon that any improved business
property may be purchased safely for
Investment. The construction, Dom as
to its being substantial and practical.
also the future lighting conditions, the
mortgage conditions, Ac, are all neces
sarily to be considered and must be
Judged by an e tpert,
npartment houses, hotels, office build
lngs and other similar structures.
"These activities are likely to be re
flected In a greatly stimulated real es
tate market in all our principal Ameri
can cities, and we shall find capital
seeking these channels with Increased
enthusiasm. There will be a consistent
Increase In values where conditions are
permitted to develop under the natural
sway of supply and demand.
"Under these circumstances It Is not
likely that contrary to the expectations
of many, the end of the war will bring
an immediate easing off in home or
business rentals. Rents, like all other
BOKOrjOII OF BRONX FOR SALE.
RESELLS BROOKLYN' ROW.
The Meistor Builders have resold the
fifteen two family frame houses at 491
to 625 Alabama avenue, Kast New York,
on a plot 300x100, which they took In
trndo n few weeks ago from the Pro
gressive Realty Company,
The Mclnorney Kllnclt Realty Com
pany has sold the three story store and
apartment brick building on lot Z0xl3(,3
at 766 Flatbush avenue for John Doyle.
INVEST NOW
WE HAVE SEVERAL
NEW LAW FLATS
That Can Be Bought Right
WILL SHOW 15 NET RETURN
J. CLARENCE DAVIES,
149th St. and 3rd Avenue.
FACTORY rROrSRTfFOR SALE.
FACTORY
Plan and Construction Suitable
for Storage Purposes
Immediate Possession
100,000 SQ. FT. FLOOR SPACE
Well built FIREPROOF BtJILDINO.
In flrtt clu condition; centrally
located: Rood truult radlitlee; en
gines and pollers ready for use.
Attrarttie Price ts Quick Buyer.
WESTWOOD REALTY CO..
035 Flatbush sr., Brooklyn.
REAL r-STATE FOR BALE OR RKNT
ma WEEHAWKEN HOUSE WOLD.
The J. O. Syms Land Company has
ld to the II. K. Benjamin Company
the Royal Court apartments, a five story
house on me cast siu vi rarn avvnuu,
re
Town and Country Houses
For Saleor Rent
Dou.lasLIlimanSCa
4H MADISON AVE.
IMP
FACTORY SITES
Five Mile from New York ' City Hall
On Deep Water with Railroad Facilities
Property located midway between Newark and Jersey
City, N. J., fronting on the Passaic and Hackensack
Rivers, in the heart of the
World's Greatest Labor Market
Crossed by
FOUR RAILROADS
and their branches, sidings from
which can be obtained:
Pennsylvania R. R., Central R R. of N. J.,
Del., Lack. & West. R. R., Erie Railroad.
Newark Bay and Passaic River Channels
up to the Property 20 Feet at Low Tide
The following concerns have recently bought loca
tions in the property and buildings are now in course
of construction:
UNITED STATES STEEL CORP.
FORD MOTOR COMPANY, Automobiles
THOMAS A. EDISON CO., Inc.
NILES-BEMENT-POND CO.
H. KOPPERS COMPANY, By-Product Coke Ovens
MARTIN DENNIS COMPANY, Chemicals
EGYPTIAN LACQUER MFG. CO., Lacquer
NORTH AMERICAN COPPER CO., Metal Goods
WHITE TAR COMPANY, Naphthaline
JAMES H. RHODES & CO., Felts
' Sates Agent
31 Nassau St., N. Y. City
Phone 744 Cort.
RRAL E STATIC FOR SALS.
nSAL ESTATR rOR ,BALC
AN IDEAL SITE FOR A CORPORATION
desiring to occupy an individual building
"Hxinity Court"
6 story modern office building
at 70-76 Trinity Place,
directly facing Wall Street across Trinity Church
yard. Frontage 104.5V f t with an inegular depth
averaging about 47 ft. Plot contains over 5,000
sq. ft. The largo frontage on an open spaco affords
unusual light and outlook--directly facing Trinity,
Equitable and Empire office buildings. The property
is also desirable for an investor, as it brings in a
good return and can be purchased at land value.
Gross rents about $25,000.
Price $250,000
Apply to Tho Alliance Realty Company
Clarke G. Dailey, Vico-Pres. or Details from
115 Broadway. Tel. Rector 3350 Your Own Broker
Cbe United Slates Realty
and Improvement Co.
has several properties, both improved and
unimproved, which it is disposed to sell at
attractive prices and on reasonable terms.
Applyto Real Estate Department
United States Realty and improvement Co.
Ill Broadway Telephone, Rector 4J00
FACTORY PROPERTIES.
WESTC1IMTER RKAL E8TATK.
HEAL ESTATE.
ASHFORTH & CO.
(Incorporated)
REAL ESTATE
Management Particularly
501 Fifth Avenua. EntblUhed 1863.
FACTORIES
POST-BELLUM
NEEDS
WILL YOU NEED A FACTORY
AFTKH THK WART WlU. YOU
NKKD YOUR FACTORY AFTER
THE WAR? Nov U the time to an
wrr ttMM questions, mruX ire can
help answer town for you; for If j-ou
nil! need a factory after the ar we
have ft, and If Ton have no need for
your factory after the war wo have a
purchaser or a tenant for It.
FACTORIES NOW
AVAILABLE
MACHINE nOP a story steel and
brick building, 17.000 sq. ft., equip
ped, 10 ton electric traveling crane,
and modern machine tools, on
l'ennsylranla Railroad, with sid
ing. CHEMICAL PLANT vacant or
equipped; sale or rent; 3 story fend
basement brick bulldlnir, 40x100;
lance plot, toller and engine, de
lator; In unrestricted manufacturing-
section.
ritlNT WOUKS heavily constructed
building, 2 stories, 100x300, wittr
railroad siding; near .Manhattan.
METAL WOUIilNO PLANT 3 story
brlrk. 4012S. two 1BO h. p. boilers,
200 b. p. engine. 0 In. well; large
plot of ground.
OTIIER FACTORIIX for sale or rent,
or will build to suit.
LOUIS SCHLESINGfcR, Inc.
Factory Experts,
0300 Markets, Newark, N. J.
REAL MONEY &
REAL ESTATE
Real money fluctuates in pur
chasing power with every un
usual change in general condi
tions. Because of the war, tho
value of money to-day meas
ured in terms of merchandise
is lets than half what it was
five years ago.
Real' estate values change
very gradually, for real estate
was, is and always will be the
foundation of wealth.
The money that to-day will
buy barely half as much mer
chandise as was possible in
1914 will buy fully as much real
estate It doesn't requiro an
elaborate calculation to prove
tnai intw investor wno puts his
money into the real property
now will roap an unusually gener
ous profit if he holds it until the
value of money returns to the nor-
mal, as it should after the war.
SCARSDALE. The Exouisite.
premier of residential places,
offers unrivalled acreage tracts
for future country homes on
Uirchall Drive, and Penimore,
Hcathcote and Kelwyn Roads.
FRED'K FOX & CO., Inc.
14 West 41(h Street, New York.
I hone Vanderbllt C40
Let us demonstrate why
you can invest your money
in a business building now
to net 12 to 15 per cent.,
with a factor of safety as,
great as the Safest Bond.
907 Broadway, cor. 20th St.
Phone Gramercy 6052
OCCUPANCY OPPORTUNITY
A Broadway Building Subway Block Near Canal Street.
Price $150,000 Rents $15,400
Mtge $90,000 Net $7,700
Store, Basement and Sub (15,000 feet) availablo Febru
ary 1st for tho buyer uf this property.
If you need 15,000 square feet of storo spnee February 1st
you should investigate.
CHARLES F. NOYES CO.
92 William Street, N Y. Tel. 2000 John
NOTE Store, Baaement and Sub for rant at $7500
It has two striet frontages.