Real Estate Record and Builders Guide Founded March 21, 1868, by CXJNTON W. SWEET. Devoted to Real Estate, fiuilding Construction and Building Management in the Metropolitan District Published Every Saturday by THE RECORD AND GUIDE COMPANY FRANK E. PEELEY, President and Editor; W. D. HADSELL, Vice-President; J. W. FRANK, Secretary-Treasurer.

Entered as second oltss matter Noremtier 8. ISTt. at the Poat Offloe at Nnr York. N. T., under the Act of March 3. 1879. Copyright, 1919, by The Record and Guide Company. 119 West 40th Street, New York (Telpehone: Bryant 4800).

VOL. CX. $S.fK) A YEAR NO. 4 (I;T06) NEW YORK, JANUARY 24, 1920 2Uc. A COPY

Advertisine Index AdTertisiiiflr Index Page TABLE OF CONTENTS Page A B See Electric Elevator.4th Cover New York Edison Co., The 123 Ackerly, Orville B., & Son..2d Cover SECTION 1. New York Title Mortgage Co...100 Acme Service Corporation 1U7 101 Niewenhous Bros., Inc 125 Adler, Ernest N 2d Cover Noyes Co., Chas. P Front Cover A. J. Contracting Co., Inc 126 Realty Legislation Delayed by the So- Alliance Realty Co 100 103 Obelisk Waterproofing Co 120 Ames & Co 2d Cover Ogden & Clarkson Corp....2d Cover Amy & Co., A. V 2d Cover Victory Hall Will Be Built by Popular O'Reilly & Dahn 2d Cover Anderson & Co., James S 100 104 Orr & Co., John C 125 Armstrong, John 2d Cover Real Estate for the Current Week.... 105 Payton, Jr., Co., Philip A 11© Aspromonte & Son, L. S 123 Pease & Elliman Front Cover Atlas Waterproofing Co., The.. .12.5 Private Sales of the Week 105 Pflomm, F. & G Front Cover Automatic Fire Alarm Co 122 Statistical Table of the Week 115 Poe, James E lis Pomeroy Co., Inc., S. H 124 Beaumont Co., G. B Title Page Available Lumber Supplies Not Equal Porter, David, Inc 106 Bechman, A. G 113 116 Porter & Co Front Cover Berkshire Realty Co., Inc 108 Ready to Start $8,500,000 Church and Purdy & Co 108 Betz Brothers, Inc 124 Pyle, Howard C, & Co 112 Birdsall, Daniel, & Co..Front Cover Office Building 117 Boylan, John J 2d Cover Principal Buildings Planned for Erec­ Queensboro Corporation, The.... 109 Brooklyn Metal Ceiling Co 124 tion in 1920 118 Rafalsky & Co., Mark..Front Cover Brown., Federick 112 Ray, Inc., Willes 2d Cover Brown Co., J. Romaine.Front Cover Reports of New Projects Indicate Un- Read & Co., George R.. .Front Cover Bulkley & Horton Co 112 119 Realty Associates 115 Burling Realty Co 112 Personal and Trade Notes 119 Realty Company of America 100 Burns Wall Paper Co., The 110 Reis Co., John 112 Butler & Baldwin 2d Cover Trade and Technical Society Events... 119 Reliable Iron Works 109 120 Ritch, Wm. T 122 Cammann, Voorhees & Floyd Current Building Operations 120 Roman-Callman Co 112 2d Cover Building Material Markets Ruland & Whiting Front Cover Carpenter, Leonard J 2d Cover 122 Runk, George S 2d Cover Chauncey Real Estate Co.. The.. 106 Ryan, George J 2d Cover Chesley Co., Inc., A. C 12.'j SECTION II City Investing Co 100 Schindler & Liebler 2d Cover City and State Supervision Co.. 108 Record of Conveyances, Mortgages, Leases, Schwiebert, Henry 113 Clark, Noah. Inc 115 Auctions, Appraisals, Lis Pendens, Me- Scientific Lighting Fixture 122 Classified Advertisements 113 Scobie 113 Cobb-Macey-Dohme 109 chanics' Liens, New Buildings and Al- Seaver .Si Co.. Frank A 112 Corning Co., Edward 4th Cover terations. Selkin. Alexander 114 Corwith Bros 106 Smith, Clarence B 114 Cross & Brown Co Front Cover Smith Co., Inc., B. C 116 Cruikshank Co Front Cover Spear & Co 113 Cruikshank's Sons, Wm.Front Cover Spielman Electric Company 114 Steinmetz, John A lis Cudner R. E. Co.. A. M 2d Cover Page Page Cushman & Wakefield. .Front Cover Gallin & Son, John 124 Lawyers' Title & Trust Co 107 Staudinger & Reisberg 124 Cutler & Co., Arthur 2d Cover Gilbert, Chas. L 106 Leaycraft & Co., J. Edgar Straus, S. W., & Co 108 Cutner, Harry B 2d Cover Gold, Louis 112 Front Cover Thompson Co., A. G 112 Goodwin & Goodwin 2d Cover Lehigh Portland Cement Co.... 125 Title Guarantee & Trust Co 100 Davenport Real Estate Co 113 Levers. Robert 2d Cover Tucker, Speyers & Co 2d Cover Davies, J. Clarence 11.3 Hallback & Co., C. E 122 Long Realty Co., A. J 112 Tyng & Co., Stephen H., Jr 100 Day. Joseph P 2d Cover Hecla Iron Works 127 Dike. O. D. & H. V 2d Cover Hess. M. & L.. Inc Front Cover .Manning, Bernhard Realty & Ullman 113 Dowd. James A 2d Cover Holmes Electric Protective.4th Cover Const lOS Uris Iron Works, Inc.. Harris H.126 Doyle. John F.. & Sons 106 Huberth & Huberth 55 Manning & Trunk 2d Cover DuiTy Co., J. P 124 Marbleloid Co.. The 126 Vogel & Rotkin 126 Eastern Gas Appliance Co 125 Inter-City Fuel Co., Inc Ill Markham Realty Corp 100 Walsh, Irving J 2d Cover Eberle. Edward P 114 Martin, H. Samuel 2d Cover Watson Elevator Co., Inc..4th Cover Electric Service Eng. Co 122 Jackson, Daniel H 110 Maurer & Son, Henry 124 Weld & Suydam IQO Electro Sun Co 124 Jerome Property Corp 112 May 6 Co.. Wm B 110 Wells Architectural Iron Co 125 Ely & Co., Horace S.. . .Front Cover Kane Co.. John P 4th Cover McLaughlin, Thos. F 2d Cover Wells Sons. James N 2d Cover Empire Brick & Supply. . .4th Cover Kelly, Albert E 114 McLaury Tile Co., Inc., D. Welse, H. S., Sons 115 English, J. B 2d Cover Kennelly, Bryan L.. Inc...2d Cover H 4th Cover Westwood Realty Co 112 Kerns Co.. James F 112 McMahon. Joseph T 108 White Const. Co.. Inc., The... 121 Fassler & Roberts 126 Kewanee IBoiler Co 127 Miller & Co., A. W 2d Cover White & Sons, Wm. A IOO Finegan, Austin 2d Cover Knap & Wasson Co 2d Cover Mississippi Wire Glass Co 106 Whiting & Co., Wm. H. .Front Cover Finch & Co., Chas. H 123 Kloes, F. J 122 Moses & Moses 112 Winter, Benjamin lift Fischer. J. Arthur 2d Cover Kohler. Chas. S., Inc 100 Wood-Dolson Co Front Cover Fox & Co., Fredk 2d Cover Nail & Parker loO Wyckoff, Walter C 2d Cover Frank & Frank 124 Lawrence Cement Co 4th Cover Nason Realty Co !lOO Fuller Co., Goo. A 122 Zicha Marble Co.. A. R 127 Lawyers' Mortgage Co 106 Newins. Harvey B 100 Zittel & Sons, Fredk 2d Cover

Costly Mistakes in Building May Be Avoided and Many Difficult Problems Connected with Construction Eliminated Y selecting your BUILDER at the time the AKCHITECT and ENGINEEK B is retained. The result will be ECONOMY, SPEED and LOW MAINTENANCE cost. G. B. BEAUMONT COMPANY, ^^^E'N^^^ORK' To the REAL ESTATE STEPHEN H. TTNfl R.OAKarHAU. OWNER TlUe Insnnuiee; Uortgase Loans; Wm. A. White & Sons Efficient Serrlee; Modefate Fees. SteplienH.Tyng,Jr.,&Co. The Management iBoorparmted To the BROKER Member B««l Estate Baai4 M. T. Protection In PTadng Loans; of Real Estate— Quick Serrlee. Sales, Rentals and REAL ESTATE To the INVESTOR Mortgage Loans A wide range of Goaninteed First MANAGEMENT OF Hortgages and First Uortgage Cer­ 46 Cedar Street BUSINESS PROPERTY tificates, yielding current rates of interest. Established 1868 New York Title 41 Union Square West 22 BAST 17TH STREET and Mortgage Company Telephaoe: Btar^msMt 4«W

OFFICES: DEWIIT C. WELD. JR. EENDKICK 8TJTDAM —135 BHOOKLYN—203 Montague St. UEENS—376 Fulton St., Jamaica. Bookkeeping a RICHMOND-^25 Center St., Richmond WESTCHESTER—183 Main St, WhiU Plains WEDANDSUYDAM Nuisemce ? The bookkeeping of an estate is Established 1887 SPECIALISTS IN often quite a complicated matter. An individual trustee is tempted to CHAS. S. KOHLER, Inc. Real Estate of regard this bookkeeping as some­ Real Estate thing of a nuisance and neglect it Highest Class accordingly. Insurance This corporate institntion, nnder For Sale For Lease the control of the State Banking De­ Broker and Manager of partment, keeps books showing in Estates For Investment detail every transaction in the man­ agement of an estate—information MAIN OFFICE: 801 Columbus Ave.—Comer IMtb SL 50 East instantly available whenever needed. BRANCH OFFICE: 1428 St. Nicholas Ave.—Near ISlot St Phone—Vanderbilt 634-635 NEW YORK TITLE GUARANTEE '» TRUST C9 James S. Anderson & Co. Specialists in Capital $5,000,00a REAL ESTATE and Surplus $11,000,000 Management Colored Tenement 17* Brojidway. - l37W.I2SlhSu ilOt MfOlK 175 Remt.n Street. Brooklyn Leasing Properties JSO Fulton St.Jlmuci bTJucktonAmJLiCtf. Rentals ,90 Bty Street. StCeerte. JtMlrn III—< . IiuiQrance NAIL & PARKER Over twenty-flve years' experience In the management of property. REAL ESTATE Offices 145 West 135th Street i;i)e — (N. W. cor. Reade St.) Talachoae: Wortb SM8 Jmmea S. Anderwn JOHN E. NAIL Telephone (7682 BReaUp Companj' Btory N. rmm^d, Snetlal HENRY C. PARKER Morningside ( 7683 of America For Immediate Improvement FRANKLIN PETTIT Possession in 90 Days HARVEY B. NEWINS President Nos. 470-472 Seventh Ave. INCOBPORATED Transacts a 40.814x100—Two Three-Story Buildings Choice Investments in Manhattan and General Business Mortgages $125,000 Long Island Properties. Price Right—Easy Terms CONSULT US in the Purchaae Brokers Protected BROKERS PROTECTED and Sale of Further particulars from New York City 347 FIFTH AVE. Real Estate NASON REALTY CO. NEW YORK , NE W YORK Crr Y 170 BROADWAY Telephone: Vanderbilt nT*-TITT-4

MARKHAM FOR LEASE City Investing ON LONG LEASE REALTY Plot in heart of Banking Dis­ Company trict suitable for immediate CORPORATION improvement. 165 Broadway, New York APPLY TO 31 Nassan Street The Alliance Realty Co. Capital, $5,000,000 CLARENCE W. ECKARDT, Preaident CLARKE G. DAILET Telephene: Rector I8(S 115 BROADWAY TeJephooe; Sector 8SS0 ROBERTE. DOWL ING, President January 24, 1920 RECORD AND GUIDE 101

When to Call a Halt senting the people in carrying out the proposals they Realization that the costs of the government have had enacted into law through their representatives in reached unbearable heights and that one of the most the legislature. effective methods for reducing the cost of living is by "The question is," declared Senator Sage, "not drastic curtailment of appropriations, is reported from whether a more efficient Health Department and a bet­ Washington. The prospect of a national budget o fsix ter Labor Department and higher paid school teachers billions with a deficit of three billions has alarmed Con­ are desirable or not. But it is a question of how far the gressmen, who have at last heard the wail of the people state ought to go." that relief ^rom excessive taxation must be had. Senate Senator Sage would have the people stop and con­ and House committees have, it is said, agreed that there sider whether it is not, at the present abnormal mo­ shall be no public building bill at this session; that the ment, the time to call a halt on uncurbed appropria­ diplomatic and consular appropriation shall be cut three tions and, like the prudent business man, when outgo millions lower than last year; that $42,000,000 proposed exceeds income, cut overhead to the bare necessities. for the education and Americanization of foreigners 'J'he Senator's suggestion is well worth consideration shall be reduced to $6,500,000, and that the River and in view of the announcement of the Federal Depart­ Harbor bill shall be pared down from $42,000,000 to ment of Agriculture that the wholesale prices of staple $12,000,000. Further reduction in the appropriations meats and vegetables in New York City had increased for other federal departments is promised. from 10 to 100 per cent, since August 15, when the cam­ A year ago there was a general demand for large paign to reduce the cost of living was started. This, governmental appropriations for public works to give evidently, is not the time to increase taxation. employment to returning soldiers and to give business Give private business a chance to get going; then, in various lines a start after the paralysis occasioned when it is established over a firm basis, will be time by war. At present such measures are neither neces­ enough to consider projects that are well enough in sary nor wise. There is a shortage of labor, especially their way, but not essential. of the unskilled kind. And there is greater need of tenements, which the government cannot build, than of new post offices and court houses. There is now no Deflation lack of private dwelling projects and no stimulus other Bankers hold that inflation, necessary in war times, than the great demand for housing and ofifice space is if maintained during peace, results in continuation of needed by builders to encourage them—all they are high prices. Under our system of banking the Federal looking for is labor and mortgage money. Reserve Bank can now exercise the same control over The reports of the immigration officials show that the money market as the Bank of England always has the tide has again set in the direction of our shores, so exercised by fixing the discount rate. The unification of that there is likely to be more and more of common the banking powers under the Reserve system, new to labor for work on buildings, in mines and mills and on the financial community, is a powerful factor in stabili­ transportation lines. From about 12,000 a month at zation of the money market and will aid in the re-estab- the beginning of 1919 the number of immigrants rose Hshment of business on a normal basis. With the rais­ steadily throughout the year until in December there ing of the discount rate to six per cent, the Federal Re­ were over 40,000 arrivals in this port alone and prob­ serve Banks of the three Eastern Districts have taken ably 60,000 in the country. These are not record-break­ a step that was expected, although the rate is higher ing figures, but they are promising. The prosperity of than was anticipated. That it is a higher rate than the this country, now so widely advertised, and the lure of consensus of opinion in financial circles thought prob­ princely wages, cannot fail to prove an irresistible at­ able is evidence that in the view of the Reserve of­ traction to the half-fed peoples of southern Europe and ficials there is need for drastic measures in bringing the Near East. about deflation. That this will be the immediate efifect Reduction of taxation, if accomplished, will help the of the high discount rate is without question and the money market. And in this connection it should be country may soon expect a distinctly favorable turn to mcumbent on the Legislature to take to heart the prices in all markets. words of Senator Henry M. Sage, a recognized author­ That something more was necessary in fighting the ity on state finances, as to the increase in the expendi­ high cost of living than mere governmental commis­ tures in New York State. In 1910 the appropriations sions to prosecute profiteers is proved by the figures were $38,000,000; in 1919, $78,000,000; 1919-20, $95,000,- published by the Department of Labor showing that 000, and the requests for the present year amount to prices of necessities are constantly rising notwithstand­ $141,000,000. Every department has increased its ex­ ing all efforts to control them. Putting the dollar back on penses, and Senator Sage, in drawing the attention of a true dollar basis will do more to bring prices down to the Merchants Association to the rapidly-mounting their real level than all the pronouncements of theorists. costs of the state government, took no antagonistic at­ The other one thing that will really help matters is titude towards the increased activities of those repre­ production. If everybody gets down to business and 102 RECORD AND GUIDE January 24, 1920 does a full eight hours' work each and every day the the working community. It will, if every man who be­ period of cheap money and high prices will soon pass. lieves in it makes it his business to circulate this truth There are signs that this idea is spreading throughout in every quarter he can reach. Readers' Comment on Current Topics Editor of the Record and Guide: Editor of the Record and Guide: We hear a good deal about speculative prices of land and In the present time, homes, apartments and buildings are houses. Prices of living have about doubled—prices of build­ largely the subject of daily discussion. ing have increased about 75 per cent. Is real estate selling I advocated some time ago the building of large apartment at double the prices of two years ago? Where then is the houses, housing many families, and of the most modern con­ speculation in land? Western lands have gone up for say, struction, in large parks, laid out beautifully and making $250 an acre, to, say, $350 and $400—say from 40 to 80 per cent. the surroundings lovely to live in. These large apartments At present value of the dollar compared with three years ago, can be built on land costing less than $10,000 per acre and that is no advance at all. the present cost will not be so large as to make the rents With some notable exceptions, the same seems to be true high to the tenants. They should be built in the city and of stocks. suburbs where all conveniences are to be had—gas, electric Further, I see no chance of "over-production" (more goods light, proper sanitary connections and reasonable labor con­ than the people can buy back) for at least two or three years. struction. I feel sure that the demand for houses and land will not be With proper investment of money in these large apart­ met for another three years. ments, with small fare, 5 to 10 cents, life can be made happy How can we have depression with a short market for goods tor any and all without crowding our cities to excess. and no material reduction of inflation? HENRY F VAN LOANE. New York, Jan. 20, 1920. BOLTON HALL. New York, Jan. 19, 1920. Good Prices Realized at Auction of Sage Holdings HE auction sale of the real estate owned by the late street, five apartments, was sold as follows: No. 1,269 Park Margaret O. Sage, widow of Russell Sage, held at avenue to Philip Gasner for $28,350; Nos. 1,263, 1,265 and 1,267 T the No. 14 Salesrooms, on last Tuesday, to H. Brown for $16,000, $16,300 and $16,500, respectively, and aggregated $2,619,250. There were thirty five parcels in Man­ No. 104 East Ninety-eighth street to S. Lipschitz for $16,000. hattan and Long Island. The original offering included sixty- No. 1,325 was purchased by August Dunwitz seven small dwellings at Cedarhurst, which were taken over for $29,000; No. 1,570 by J. Bregstone for by a syndicate at private sale. The auctioneer was Joseph $35,700; No. 1,572, adjoining, by Joseph Jacobs, for $25,000; P. Day. No. 1,374 by Isidor Sacks, for $25,250; No. 1,576 by Margaret The Sage residence at 604 , between Forty- Stabler, for $25,500, and No 123 East 100th street, adjoining, eighth and Forty-ninth streets, was bid in by Michael Dreicer, all five-story tenements, for $27,600; No. 123 East 100th street the Fifth avenue jeweler, on behalf of Charles Thorley, the went to J. Gillman and John Lione for $17,750; No. 107 to florist, at $441,000. The assessed valuation of the property is Gaetano Tomasula for $17,600, and No. 109 to E. F. Altohul for $430,000. $26,000. The Open Stair Tenement Company bought for $12,500 Samuel Augenblick paid $117,000 for the leasehold of 632 Nos. 515 and 517 East Seventy-sixth street, vacant. Fifth avenue, a five-story and basement business building The corner at intersection of Hunter avenue and Prospect occupied by one tenant. This property is owned by Columbia street. Long Island City was sold for $15,300 to the Kings- University and was leased by the Sage estate until May 1, 1928. borough Development Company, and the dwelling in the east Its assessed valuation is $490,000. side of Hamilton place, 225 feet north of Central avenue, Far James Brannan purchased the two apartment houses at Rockaway, was bought by the Frank Realty Company for the corner of West and 102d street, paying $18,000. H. Frankfort bought the northeast corner of Central $155,000 for the corner and $90,000 for the inside house. avenue and Hamilton place. Far Rockaway, for $15,700; the The eleven-story loft and office building at the northeast Frank Realty Company the plot in the east side of Hamilton corner of Fifth avenue and Fifteenth street was sold to New­ place ISO feet north of Central avenue for $6,000, and David man Dube, clothing manufacturer and director in the Metro­ ii-enberg the block front in the west side of Hude street, be­ politan Bank, for $435,000. The four-story tenement at Nos. tween Central avenue and John street for $16,300. 45 and 47 West 12Sth street was purchased by the Neumont Realty Company for $63,000. Charles V. Paterno, builder, bought the three-story garage, S A real estate barometer the records of Register James 25.6x100.5 at 117 West Fifty-fourth street, for $47,000. A. Donegan's office reflect the true condition of the The two six-story apartment houses, 100x100, at the north­ A realty market in Manhattan. During the year just west corner of Central Park West and 102d Street, were ended they show an increase in transactions of more than 80 bought by James Brennan for $245,000. The group of five per cent. four-story and basement private dwellings at the northeast Recorded leases on all kinds of realty were nearly trebled, corner of and Sixty-fourth street, went to as comparcil with the year 1918. Many, covering property in Robert E. Dowling for $337,000. This property is assessed at the downtown and midtown sections, were for terms ranging $333,000 by the city. They were sold as one parcel. from five to thirty years and at rentals running from $1,000 Robert E. Dowling and Robert Simon bought the choice to $225,000 per annum. i)lock front of vacant property on the east side of Riverside There was an increase of 24,701 instruments in 1919 over Drive between Cathedral Parkway and 109th street for $435,- the year 1918. This increase consists of 5,789 mortgages, OOO. Thi sproperty is surrounded by high-class apartments like 7,135 deeds, 9.348 chattel mortgages, 1,792 satisfied real estate the Hendrick Hudson and the Bonavista. mortgages, and 576 satisfied chattel mortgages, 51 block The only parcel of Harlem realty, 45 and 47 West 125th changes and 10 miscellaneous papers. street, a four-story brick flat wit hstores, on a plot 40 by Briefly summarizing the income of the register's office for 99.11, assessed at $65,000 was sold to the Neumont Realty 1918 and 1919 the result is: 1919, $172,453.46; 1918, $108,073.18; Company for $63,000. increase, $64,380.28. The ratio of increase has been fully main­ The southeast corner of Park avenue and Ninety-eighth tained during the first few days of 1920. January 24, 1920 RECORD AND GUIDE 103

Realty Legislation Delayed by the Socialist Hearing Activity of Many Members in Proceedings on Eligibility of Five Assemblymen Prevents Constructive Committee Work (Special to the Record and Guide.) Albany, January 23. taxes upon the same property previously delivered. EAL ESTATE and housing bills, like all other legisla­ Both the Senate and Assembly have adopted a resolution tion, is feeling the effect of the proceeding to determine calling upon Public Service Commissioner Nixon to file a R the eligibility and qualifications of the five Socialists report with the Legislature showing whether or not his in­ recently suspended by the State Assembly. The hearings of vestigations have disclosed if it is possible for the traction the Judiciary Committee in this matter are being held in companies operating in New York City to render adequate the Assembly Chamber, at the time ordinarily given to the service at the present rate of fare, together with any recom­ consideration of legislation. mendations he believes will relieve traction conditions in The prompt introduction of several bills designed to ex­ New York City. empt the interest on the principal of mortgages on real This action by the Legislature is significant in view of the property up to $40,000 from the State Income Tax gave rise recent consideration of the report of the up-state public to the belief that these measures would be among the first service commission, as well as a report from Commissioner to be given hearings. All these bills were referred to the Nixon, urging the enactment of legislation vesting the com­ taxation committees. The Socialist inquiry will interfere missions with power to fix local traction fares irrespective with this program, because several of the members of the ot franchises agreements and statutory limitations. Judiciary Committee are also on the Taxation Committee. There is a strong sentiment in the Legislature in favor of Before many weeks the Legislature will have before it the granting the public utility corporations relief from the stress report of the Davenport taxation investigating committee they have felt by reason of the increased cost of wages and and it is believed that this report will discuss the limitation materials. This sentiment is especially pronounced among of taxes on realty. the representatives from up-state cities, where the local trac­ The advocates of the limitation measure which passed last tion lines are facing ruin unless permitted to increase their year now contemplate framing a bill which will limit the bur­ fares. Several opinions by the Court of Appeals have indi­ den of taxation which can be placed upon realty at a certain cated that the duty of relieving local traction companies percentage of the budget of a city. In the preliminary dis­ rests with the Legislature. This court has pointed out that cussion the suggested percentage was 75 per cent. \.'here franchise agreements or statutes fix the maximum Within the next few weeks several bills favored by the riites to be charged the courts are powerless to intervene. New York City Real Estate Board and having for their Strong opposition has developed in the Legislature to several ultimate purpose the reduction of the city budget by the bills providing for the licensing and regulation of real estate elimination of useless bureaus will be introduced. One of brokers and dealers. One of these bills places the licensing these bills will call for the abolition of the sinking fund and power in the Secretary of State and the other in the mayors another will provide for the payment of taxes in New York oi cities whose population exceeds 200,000. The attitude of City into a single bureau doing away with several depart­ the opponents of the bills is that the real estate situation ments which now receive taxes. These bills were discussed all over the state is such that nothing should be done to check and tentatively framed this week at a conference attended the activities of real estate brokers or limit their efforts to by John P. Leo, of the Bureau of Standards and Appeals, relieve housing conditions. It is pointed out that present David Hirschfield, Commissioner of Accounts, A. C. McNulty, cramped housing conditions are largely the result of exces­ counsel for the Real Estate Board and Edward P. Doyle, also sive war prices for materials and not the outcome of the representing the Real Estate Board. acts of individuals. Another bill shortly to be introduced will revive and ex­ A new rent commission bill made its appearance in the tend the corporate existence of the New York Real Estate .Assembly this week. The measure, introducer by Assembly­ Association. Under the terms of this bill the corporate ex­ man Jesse, would create two rent commissions, one for the istence of this association is revived and "declared to be a first district embracing New York City and another for the valid corporation with the same force and effect as the same second district, including Buffalo and Rochester. A commis­ existed on June 25, 1919, and prior to the expiration of the sion of three members will operate in each district. The period for which said corporation was created." This organ­ members will be named by the governor. Under the terms ization, chartered 50 years ago, through inadvertence per­ of the bill the commissions may on their own initiative or mitted its charter to expire. There is little doubt about the upon complaint investigate the reasonableness of rents and speedy enactment of such a measure. other charges imposed for occupancy of real estate and de­ Senator Dunnigan introduced a bill this week amending termine what such rents and charges shall be. the General City Law by providing for the acquisition by Another bill introduced by Assemblyman Jesse provides cities of lands for the purpose of erecting dwellings upon for the exemption from increased valuation of real property such land and renting such dwellings at cost. improved for dwelling purposes in New York City, the valua­ Minority Leader Donohue in the Asembly submitted an tion not to be increased over that on the day the building amendment of the New York City Charter which provides plans are approved until the assessed valuations for 1926 are that no tax lien for unpaid taxes, water rents or charges or fi.xed, provided plans have been approved on or before Oc­ assessments on any real estate shall be sold by the city un­ tober 1 next and the building ready for occupancy before less the word "arrears" shall have been written in a bill for December 31, 1921. 104 RECORD AND GUIDE January 24, 1920 Victory Hall Will Be Built by Popular Subscription l: Plans for $15,000,000 Monument in Pershing Square Now Being Prepared by Herts & Robertson, Architects NLESS the present plans miscarry. Victory Hall, the Around the walls of this great auditorium there will be a proposed monument to New York's dead and living broad continuous band bearing in bronze or gold letters U heroes of the World War, will be one of the note- the name and unit of each soldier, sailor and marine, as well v/orthy public structures of the country. The site selected as of each man and woman from the city of New York, be­ for this structure is the block lying south of the Grand longing to the Red Cross, Salvation Army, Y. M. C. A., Jewish Central Terminal, between Forty-first and Forty-second Welfare Workers, K. of C. and Army Nurse Corps, and of streets. Park and Lexington avenues. The west half of this all others who died in the service. The roof of the audi­ block is now owned by the city and is being used for subway torium will be sustained by horizontal girders 20 to 30 feet purposes, but in no way will this interfere with the con­ deep. The space between these will be available for separate struction of the projected structure. meeting and club rooms. In both plan and design this structure will embody a num­ Provision is being made in the plans to devote considerable ber of unusual features. Herts and Robertson, the archi­ space for the use of the American Legion. tects, are now working out the details and it is hoped that The great American Legion hall will be surrounded by other the preliminary arrangements will be completed so that this rooms to be given over to auxuliary and patriotic bodies. $15,000,000 project may be started before the close of the The central part of this floor will be 235 feet by 112 feet and current year. v.'ill form a hall for the meetings, dances and other entertain­ A complete description of this building is impossible at this ments of the organization and of the other societies affiliated time because the details have not yet been finally worked with it. Surrounding this central hall, which will be of great out. On the level of the Fourth avenue esplanade there will dignity and illuminated by large clerestory windows, will be be a great auditorium and convention hall into which pro­ a balcony looking down upon the hall. Beneath this balcony cessions may march from the esplanade, through the main will be a corrider giving access to a number of rooms which portal of the edifice, which will be a triumphal arch incor­ will be assigned to the G. A. R., Loyal Legion, and the aux­ porated into the Fourth avenue front. It may also be reached iliary societies, patriotic groups and other organizations that from the Forty-second street level by elevators and numer­ carried on war activities. ous stairways. This auditorium will be in the form of a On the floor below the street level will be located the im­ lofty amphitheatre. A majestic monumental colonnade will posing Memorial Shrine and Hall of the Allies. These apart­ surround it upon the exterior. The roof will be an uninter­ ments will be reached from the street level and from the sub- rupted span with a ceiling carefully devised to secure the vvfay station by four broad monumental stairways, descending best acoustic effects. In the center will be an oval arena 120 from the great foyers running north and south and one to feet in width and 270 feet long that will admit of a running the east and another to the west, and by elevators. track, ten laps to the mile. From the eastern end of this hall a double intramural stair­ This auditorium has been planned to provide for tourna­ way will lead into a lofty memorial hall or crypt, 70 feet ments, great musical festivals, pageants, athletic games, large square, hewn from solid rock underlying this section of the civic gatherings and public assemblages, including those of city. In the center of this crypt will be placed an altar, a dramatic nature, and will afford as well to the children of upon which there will forever burn a fire or beacon that tbe public schools an athletic practice arena for which a will serve as an "Inner Shrine of Memory" and to symbolize great need now exists. This hall will seat 5,000. the purpose of Victory Hall.

PERSPECTIVE OF VICTORY HALL IN PERSHING SQUARE. January 24, 1920 R E C O R D A N D G U I D E 105 Review of Real Estate Market for the Current Week Many Important Multi-Family Houses Figure in Recent Transactions and Buyers of Plottages for Improvement Were Active ONSIDERABLE buying activity developed this week in stories in height for their own use. On upper Fifth avenue the real estate market, the business reflecting a lively interest again centered around Fifty-seventh street, where C interest in practically every kind of property. The the John L. Riker Estate, located at 19 West, was sold for chief contributing factor in the large number of transactions $500,000 to a buyer who is planning to erect an 8-story busi­ closed was the heavy trading involving large apartment ness building on the site. houses which was stimulated largely by speculative interest. Operators, too, claimed their share of the business. Harris Among the notable transactions of the past week figured & Maurice Mandelbaum, Fisher & Lewine again figured in a the 12-story apartment house at 405 Park avenue, which was million-dollar purchase involving the 15-story office building purchased by tenants from J. C. Mayer and Millard Shroeder, at 395 to 399 Broadway. The loft structure at 43 to 47 West Twenty-fourth street, held at $500,000, was sold by Isaac who acquired the property several weeks ago, and who fur­ Schiff to the Elias Gussaroff Realty & Construction Com­ ther displayed their confidence in Park avenue holdings by pany. acquiring this week another large fireproof apartment at 640 Park avenue, valued at $1,400,000. Other large apartments It is interesting to note the immediate effect of prohibition which changed hands were The Turin at 331 to 335 Central on realty, as with the advent of "dry" days came reports of many leases of hotel space. Conspicuous among these was Park West, acquired by the Realty Syndicate, Inc.; The the rental to the United Cigar Stores of the century-old Verona, at Sixty-fourth street and Madison avenue, held at Eastern Hotel at the lower end of Manhattan for a 21-year ^1,100,000; The Bellguard, valued at $700,000, which was term at an aggregate of $2,500,000. The same company also bought by Joseph Shenk, who also added to his holdings a leased earlier in the week the Saks department store build­ number of other multi-family houses on Washington Heights ing at for a 21-year term at a total rental of and in the Bronx; the apartment house at 777 West End $8,500,000. Another 21-year lease in the same vicinity involved avenue and Ninety-eighth street, held at $750,000; three apart­ the property at 138 West Thirty-fourth street at a rental ments on Washington Heights purchased by an operator and of $700,000. The Silver Lunch Company signed a million- numerous others. dollar lease for the 2-story building at 1663 to 1696 Broadway, In spite of prevailing high construction costs, sites for also for 21 years. structural operations are still in demand. In the financial The shortage of space and the persistency of the demand district the Lawyers Mortgage Company purchased the three was emphasized by the alacrity with which available'space old S-story buildings at the corner of and Nas­ was absorbed and in many cases its occupancy secured by sau street, where they intend to erect a building of at least 12 leases of unusually long terms.

President Kelsey says: Cobb-Macey-Dohme, Inc., Will Move. "In NeTv York it was necessary to devise PRIVATE REALTY SALES. some method of disposing of our larger Cobb-Macey-Dohme, Inc., have leased for mortgage investments, for the individual twenty-one years the four upper floors of the HE total number of sales reported but not buyers for them had been frightened off building, 412 Broadway, for offices and display T recorded In Manhattan this week was 151, by the income tax. Our participation cer­ purposes, at an aggregate rental of about $130 - as against 139 last week and 49 a year ago. tificates have been very helpful in this 000. The Charles P. Mayes Company made the The number of sales south of was respect. During the year we have sold lease for Frank D. White and G. F. Heublein. 68, as compared with 63 last week and 14 a year Adolph F. Dohme, president and treasurer of agck. 3.193 certificates, amounting to $5,033,603 the leasing company, in commenting on this The number of sales north of 59th street was in New York, and 1,406 in Brooklyn, lease, stated: 83, as compared with 66 last week and 35 a year amounting to $1,194,712. These certifi­ "Our business was the flrst offlce equipment ago. cates are Increasing in popularity as the busmess to move north of Franklin street. Ten From the Bronx 61 sales at private contract general public becomes better acquainted years ago we selected 412 Broadway as the were reported, as against 55 last week and 22 with them. We take one large mortgage, future center of the ofilce furniture and offlce a year ago. have it guaranteed by the Bond & Mort­ equipment business. How near right we were Statistical tables, indicating the number ot is best emphasized by the fact that during the recorded instruments, will be found on page 115. gage Guarantee Co. and sell it to our past two or three years the largest Arms in investors, giving to each one the exact the city including Globe-Wernicke, Hosier Safe amount of Investment that he desires. Co., Herring-Hall-Marvin Safe Co. and Reming­ Annual Report of Title Company. The plan Is very elastic, as it permits re­ ton Typewriter Co. have purchased buildings investment each three years as Interest right in this section of Broadway close to Canal In the annual report of Preaident Clar­ street. We selected 412 Broadway because It ence H. Kelaey of the Title Guarantee and rates change. It also allows for a re­ was in the block and because we Trust Co. he calls attention to the inter­ valuation of the property and the ad­ knew that all subway lines in New York City justment of the amount of the mortgage, would have stations on Canal street and this esting fact that the Record and Guide, should change of value require at any would make this Broadway section near Canal under date of January 3 of this year, pub­ time. street the most convenient of all downtown sec­ tions for business purposes. Our business has lished a list of thirty-one real estate "The title losses for the year amounted grown largely at 412 Broadway, and we find transactions during 1919, each Involving to something over $31,000, which Is per­ that we have outgrown for showroom purposes two and one-half million dollars and up­ haps a little below our yearly average, the store and basement that we have been occu­ which has been about $50,000 since the pying. Double the space was required, so the ward. Ot the thirty-one all but seven lease that we have Just made gives us over were examined and insured by this com­ organization of the company. 20.000 square feet of the very best display prem­ "The profits from the banking business ises in New York, and here we will be located pany. itself show a satisfactory advance in New for many years to come. The company sold to Investors in 1919 York and Brooklyn and a very decided "Ground floor space in New York City has $36,477,728 in mortKagres. as compared with advance in Jamaica and Long Island City become so expensive for merchants that the a little over $19,000,000 in 1918. The larg­ in Queens. price is prohibitive to those firms who wish est record in mortgage sales ever made by "The total deposits at the end of 1919 to sell their goods on a close margin. It is my the company was in the years 1905 and amount to something over $35,000,000, as prediction that within fifteen years the leading 1906. when the sales amounted to about compared to $28,000,000 at the close of firms in our line of business will be transacting :$74,000,000 each year. their business above the ground floor, and this 1918. This amount is the largest In our is right along the lines of economy and exactly The recorded mortgages for the year history at the close of any year. The in­ the same as is being done in several western 1919 in Greater New York exceed those crease amounts to $3,000,000 in New York, cities such as Chicago with its Republic Build­ recorded in 1906, the report continues. $3,000,000 in Brooklyn. $400,000 In Jamaica ing filled with retail Arms of high standing, The reason why the mortgage business of and nearly $50,000 in Long Island City. and in St. Louis. Not only do large upstairs the company was not as large as in 1906 salesrooms permit of economy in operation, but The increase Is due partly to better times the premises are better for salesroom purposes apparently is that a large proportion ot and partly to a very determined effort on account of better ventilation, better light the real estate boom of 1919 has been on the part of our banking department to and better facilities for showing our product. financed by the owners of the property in increase its usefulness in the community. Our building at 412 Broadway directly faces the way of purchase money mortgages The number of accounts has Increased Lispenard street and the upper floors of the and not by lending Institutions and indl- building have natural light and sunshine at •vlduas. They have not been willing to from 10.931 to 11,834, a gain of almost 900 every point. Our executive offices will occupy in the year. the top floor of our new quarters; our second furnish the money and the mortgage mar­ "The Income from trusts shows an ad­ floor will be devoted entirely to the display of ket has been much restricted by the Fed- mahogany furniture: our third floor to oak «ral income tax. vance of approximately $30,000 above the figures of last year." furniture, and on the fourth we wiil display 106 RECORD AND GUIDE January 24, 1920 steel furniture and office filing equipment. With double the amount of space that we have ever had before, we expect to show the most repre­ BROOKLYN'S OLDEST sentative line of goods that is shown in New York City, and we will be able to look out for the furniture trade as well as it is humanly Real Estate Office MONEY possible to do and continue to sell our goods at a m^oderate or fair margin of profit." FIRM ESTABUSHED IMS Mr. Dohme has seen the center for the offlce furniture business extend north from Liberty TO LOAN street to Nassau and from Broadway and to the present point where it will probably l^lje Cijauncep remain for all time, and it is very close to the financial district and at the same time con­ on venient for uptown shoppers. When he origin­ ally moved his business from lower Broadway to ^ 3^tal estate Co. 412 Broadway, many in the same line thought 187 MONTAGUE ST. New York City he was making a rash innovation, but within a very few years many others followed. It is BOBO or BROOKLTN, NBW TOBK OTT believed that many others who are unable to Real Estate get ground fioor locations in the exact centers Telephones: Main 4SM, 43*1, tfU that they wish to locate, will follow Mr. Dohme's lead, with the result that merchandising above Appraisers Auctioneers the ground fioor will be the next important LAWYERS MORTGAGE CO. development in the New York real estate market. A8ENTB and GENERAL This has been tried successfully with clothing, RICHARD M. HURD, President shoes, women's apparel, and it is pointed out that there is no reason why it cannot be done Capital and Surplus $9,000,000 with marked success by almost any other line Eeal estate Profeerg of business. 59 Liberty Street, New York Members: Stoddard & Mark, attorneys, represented the 184 Mentarne Street, Brooklyn owners of the property. Williamson & Bayles Brooklyn Board of Real Estate Broken represented the leasing company. Charles F. Real Estate Board of New York Noyes Company sold the property to the pres­ ent owners, and only recently reported a lease for twenty-one years of the store and basement at an aggregate rental of $200,000, to the Ex- Members Brooklyn Board o< R. E. Broken nhange Buffet Corporation. ESTABUSHED 1882 Brooklyn Brokers to Dine. The annual banquet of the Brooklyn DAVID PORTER, inc Board of Real Estate Brokers will be held at the Hotel Bossert tonight at 7 o'clock. Real Estate Agents The guests of the evening w^ill include United States Senator William M. Calder, Brokers, Appraisers State Senator Henry M. Sage, Hon. Ed­ APPRAISERS FOB ward Riegelmann, President of the Bor­ Tbe United States Government The State of New York ough of Brooklyn; Rev. Paul Moody, rec­ The City ol New York tor of the Madison Avenue Presbyterian Tbe Equitable Life Assurance Society Church of Manhattan; J. Willison Smith, Equitable Trust Co. lately manager of the housing division. The U. S. Title Guaranty Co., etc, etc. U. S. Shipping Board, Emergency Fleet BrMkljra OwBkw •! CoBMaraa BalMliw Corporation, and others. 82 COURT STREET William Raymond Burling, president of Telepbone: Main 828 BBOOKLTN. N. T. the board, it was incidentally learned to­ day, has a big surprise for the members, the exact nature of which he refuses to divulge, although rather unwillingly ad- rnits it to be something entirely new in JOHN F. DOYLE & SONS the arrangements for this year's dinner. The committee in charge are James B. REAL ESTATE AGENTS Fisher, chairman; Fred B. Snow, George Horton. Joseph W. Catharine and George BROKERS and APPRAISERS H. Gray. 74 Wall Street. New York City Management of Estates a Specialty Franklin Simon Co. Secure Addition. Manbarot Boaid .( Brakas Franklin Simon & Co. have purchased 5-9 Jaaa V. DevU Joba W. Dsvlft Jr. West :i7th street from Wolf Bros. & Co., of Philadelphia, which will add more than 90,000 square feet to their present floor space. The new addition is a modern fireproof twelve-story building and is in the rear of their present The Leadins Asency ;>Sth street buildings. The lower six floors wilt Firm Esteblished 1874 Woolworth Building taken * through be used for selling purposes and the upper six ?oUshed Wire Glasl Window to tSe floors for manufacturing, stock rooms and re­ Western uSon Building. New York Oty serve stock rooms. The individual floors will be occupied as soon as the leases of their re­ CORWITH BROS. 1 spective occupants expire, the majority of which only have a short time to run. Franklin Simon, Why not get the bene­ & Co. will do all their shipping, receiving and OreenpoHit and Long Island City delivering on 37th street, thus relieving the con­ fit ot reduced insurance gestion on 38th street, which on account of its excellent transit facilities has become one of the Real Estate rates, together with the best specialty shop side streets in New York City. FACTORY SITES maximum of Fire and A SPECIALTY Breakage Protection? Operators Acquire $1,000,000 Loft. Mortgage Loans, Appraisals, Insurance The Forty-fifth Street Exchange Building, at Entire Management of Property Install Mississippi Pol­ 141 to 147 West 4oth street, held at $1,000,000, has been sold by the Arthur Carter Realty Com­ 851 Manhattan Avenne, Brooklyn ished Wire Glass with its pany to Vogel & Schultz, through the Knap & Corn Exch. Bank Bids., Bridce Plaza, L. I. C Wasson Company. The building is thirteen silver white wire and sur­ stories high, 70x100. The annual rental is about $125,000. The leases expire in about a face equal to any plate year. The thirteenth floor is given over to the storage of films. The sellers acquired the prop­ Tel. Bedfard (900 glass, and save money. erty last September from Frederick Brown, who tSttntm BraoklTB Board sT Bnkan gave in part payment a large estate at Mount Kisco, N. Y. Morrison & Schiff were the at­ Write for Catalogue torneys. Chas. L, Gilbert and Samples. Trinity Church Corp. Sells Chapel Site. REAL ESTATE BROKEB The Charles F. Noyes Company sold for Trinity Church to Adolf Pricken for his Coast­ APPRAISER wise Warehouses, Inc., the plot of 33,600 square Rentins, CoUectlnK, IniontBCe MISSISSIPPI feet, on which stood for over a century St. John's Chapel, at 34-50 , extending WATER FRONTS through to St. Johns lane, with frontages of WIRE GLASS CO. 240 feet on each street and a depth of 140 feet. FACTORY SITES Mr. Pricken is taking up with the city of New Efficient management York the matter of the extension of York street Room 1712 so as to bisect the property into two plots, each of Brooklyn Real Estate 220 Fifth Ave.. New York City about 100x140, on which he will erect two eight- TU Naatrand AT*. BBOOKLTM story fireproof warehouses to contain 150,000 •I at. isksfs PlaM ••W TOM square feet of space each. The total operation January 24, 1920 RECORD AND GUIDE 107 will represent an investment of approximately street. The buyer is the Apartment Manage­ five-story buildings with a frontage of 43 feet »2,000,000. ment Co., Edgar A. Levy, presidebt. Douglas on Nassau street and 57 feet on Maiden lane» The plot is opposite the St. John's Parle freight L. Elliman & Co. were the brokers. The buildings are known as 58 Nassau street depot of the New York Central lines. With thla and 20 and 33 Maiden lane. improvement the warehouse company will con­ Big Long Island City Deals. The brokers in the transaction were Cammann^ trol approximately 1,000,000 square feet of space Voorhees & Floyd. in . William D. Bloodgood & Co., Inc., have sold one-half =of the block bounded by Pierce, Eighth Considerable time and trouble were involved!* and Ninth and Washington avenues. Long Isl­ in assembling the properties and acquiring title. Verona Apartment Sold. and City, to a New York moving picture com­ Most of the tenants had long leases and hesi­ Benjamin Winter, who has dealt extensively pany for a studio. This plot is but one block tated to surrender them because of the short­ in apartment properties on the West Side in the from the big studio now being erected by the age of space downtown and the desirability ot last few months, turned his attention to the Famous Players-Lasky Co. The same realty the location. It was not until then that the East Side this week. From the Thornhill Cor­ firm has also sold a factory at Hamilton street "lease snarl" was untangled and the way poration he has purchased the ten-story Verona and Freeman avenue. Long Island City, to the opened for the great improvement contemplated^ apartment, at 32 East 64th street, on plot 132.6x Chemical Novelty Co. of New York, and have 100. This is one of the finest apartment houses leased to the Maxwell Motor Car Co. for Its Park Avenue Apartment Sold. in the Madison avenue section, and was erected Long Island City agency the garage on Hancock about ten years ago, meeting with continuous street, near Webster avenue. J. C. and M. G. Mayer and Millard Shroeder^ success since its opening. It won a first prize in who recently purchased and resold 405 Park a contest for its interior finish. It has two avenue, gave further evidence today of their apartments to a floor of twelve rooms and four Lawyers' Mortgage Co, Buys. faith in Park avenue by purchasing from the- baths each. Leopold & Herbert Weil repre­ One of the most important real estate trans­ Shafpa Realty Company, through Robert C^ sented the purchasers and Douglas L. Elliman actions that has been effected in months was Knapp, of Douglas L. Elliman & Co., Inc., the & Co. the sellers. that closed this week by the Lawyers Mortgage thirteen-story fireproof apartment house at 640 Company, Richard M. Hurd. president, for the Park avenue, the northwest corner of 66th northeast corner of Maiden lane and Nassau street. The building was erected by the Ful- Buyers Plan Eight-Story Structure. street, opposite the site of the proposed Federal lerton-Weaver Construction Company Jn 1914.. Brown, Wheelock Company, Inc., and Royal Reserve Bank. It is the intention of the The plot contains more than 9.5U0 square feet Scott Gulden sold for the estate of john L. Lawyers Mortgage Company to erect a building and is considered one of the finest apartment Riker the four-story dwelling, 50x100, at 19 for its own use of not less than twelve stories houses on Park avenue. The building is ar­ West . The brokers report that in height. ranged with one apartment to a fioor, contain­ $500,000 was paid for the property, or $10,000 The property aquired consists of three old ing 18 rooms, 6 baths, 40 open wood-burning a front foot. The buyer will erect on the site an eight-story business building. The prop­ erty was held free and clear, but the estate allowed a purchase money mortgage to remain. It is reported that an owner of a single lot further down the block has refused an offer of $2ii),000 for this house. Buying Low Operators Buy Broadway Building. Harris & Maurice Mandelbaum, Fisher & As the wiseacres advise, means sometimes Lewine purchased from the Equitable Life As­ surance Society 395 to 399 Broadway, the south seeing your purchase go still lower and get west corner of Walker street, a fifteen-story oflBce building, with a frontage of 51 feet on snuffed out. The safest investment is a Broadway and 147 feet on Walker street. The Guaranteed Mortgage at par, always worth property was held at $1,000,000. par, and sure to be paid in full. Builder Adds to Holdings. The Holland Court Realty Co. has sold the eleven-Btory apartment at the northwest corner of Park avenue and 92d street, fronting 100.8 feet on Park avenue and 130 feet on 92d street. Lawyers Title and Trust Company This property was purchased by the present owner as a possible future site for Miss Spence's 160 Broadway, New York 383 E. 149th St, New York school for girls. It stands at the crest of Car­ 188 Montagae St, Brooklyn 1354 Broadway, Brooklyn negie Hill, near the large house and gardens 44 Court St, Brooklyn 367 Fulton St, Jamaica, N. Y.- of George Ehret and the new home of Francis Q. Palmer, on the northwest corner of 93d 160 Main St, White Plains, N. Y.

There is neither wisdom nor econ­ omy in waiting until some damage We look after your eleevators, inspect them at is done before hav­ frequent intervals and keep them in perfect repair under yearly contract at a price which will save ing your elevators you a good deal of money and worry besides. repaired. SERVICE AT ALL HOURS ACME SERVICE CORPORATION

Day Telephone: 246 CANAL STREET Night, Sunday and Holiday: Franklin 4765-4766 NEW YORK Wadsworth 5359-5522

ELEVATOR REPAIRS AND SUPPLIES

Scientific Upkeep of Electrical Equipment Under Yearly Contract 108 RECORD AND GUIDE January 24, 1920 fireplaces, cedar wood closets and individual laundries. Rentals, $140,000; asking price, $1,- 400,000. Among the tenants are George D. Pratt, Robert Franklin Adams, W. V. S. Thorn, Andrew Fletcher, Edward Drexel Godrey and Charles A. Coffin. Stoddard & Mark, attorneys, Present-Day Problems of It Is Good represented the purchaser and Nathan Smyth the sellers. Douglas L. Elliman & Co. .will con­ tinue as managing agents ot the apartment Judgment to house. Building Maintenance West End Apartment Sold. require expert advice and guid­ Elgar a Feinberg resold tor Clements Realty ance. We are able to advise Company to Reznick & Zimmer 777 West End avenue, southwest corner of 98th street, twelve- owners and agents of all Start Building story elevator apartment house. Rentals, $85.- classes of real estate with re­ 000; asking price, $750,0O(.). The house was built gard to State laws, City ordin­ eight years ago by Edgar A. Levy. Frank Ijocker represented the buyers and H. B. Davis ances. Departmental procedure, the sellers. The same brokers sold the property and all executive, legislative Now recently for J. C. and M. G. Mayer. and judicial regulations affect­ ing real property. We act in T is our opinion that a new Shenk Figures in Several Deals. an advisory capacity to owners Joseph Shenk bought from a client ot Morri­ of saloon and brewery build­ price level has been estab­ son & Schiff the Bellguard, a twelve-story apart­ ment house at the southeast corner of Broadway ings and other classes of prop­ I lished by economic condi­ and , 101x80, held at $700,000; also erty, and can demonstrate how bought from a client of the Duross Company tions created by the world war the southeast corner of Broadway and 141st such holdings may be profit­ and that building costs have street, two six-story apartments, 120x100. held ably converted for other uses. at $400,000. Mr. Shenk sold through Max Rosen­ Correspondence is invited from been stabilized at a point below feld to Philip Wattenberg, Nos. 1394 to 1402 Clay avenue, three six-story apartments, 135x100, those interested. which they are not likely to held at .$275,000; also to a Mr. Gerdino through A. Walkenberg the six-story apartment at the fall for many years. northeast comer of Haven avenue and i69th street; also sold through William S. Baker to CITY AND STATE the Jules Realty Company Nos. 503 and 507 West In view of this fact and the Impera­ 13.3d street, two six-story apartments, held at SUPERVISION CO., Inc. tive need of buildings for housing, .$150,000. commerce and industry, we urge 25 West 42d Street New York those who have deferred construction In the hope of lower prices to go Syndicate Acquires the Turin. JOHN H. SCHEIER. H. A. ahead. The somewhat higher cost of Feinberg & Reiss, Inc.. sold for the Benenson Advisory Archlt«ct to the Oompwiy building will be more than offset by Realty Company to the Realty Syndicate, Inc., Increased rentals, assuring a safe, J. W. Doolittle president, the Turin, a twelve- profitable investment. story elevator apartment house, 125.8x173.4, at 331 to 335 Central Park West, northwest comer of 93d street. There are one six, two seven, We are confident of the future pros­ two eight and one nine room apartments to a perity of this country and are demon­ floor. Asking price, $1,500,000. Fifty ot the strating it every day, as we have done seventy-two leases expire on October 1, when TO BROKERS in the past thirty-seven years, by a»- the new owners expect to derive an annual in­ come of close to $200,000 from the property. We have for sale numerous APART­ slsting in financing the construction MENT HOUSES In all sections of Brook­ of well-located hotel, apartment. In­ lyn showing good results. Secure car dustrial, mercantile, office and ware­ Tenants Buy 12-Story Apartment. house buildings, where the margin of lists. BROKERS PROTECTED. security is ample for safety and the A group of tenants bought the twelve-story We are at all times in the market for earnings sufficient to meet principal apartment at 405 Park avenue, northeast comer Apartment Houses. Quick decision given and interest payments. We make no of , from J. C. and M. G. Mayer and an offerings. Flatbash and Park Itopa loans In amounts less than |500,000. Millard Sohroeder, who purchased it several section preferred. weeks ago from a syndicate of New York and Massachusetts interests. Write for our booklet explaining The purchasing syndicate ot tenants was rep­ BERKSHIRE the Straus Plan of financing real resented by Walter C. Wyckoff, who has man­ estate improvements. It will Interest aged the property since its completion, about REALTY CO., Inc you. eight years ago. The building has a frontage ot 100 teet on 44 Court St., Brooklyn Park avenue and 90 feet on 54th street, and is one of the most attractive in the Park avenue Suite 711 Phone: Main ITM section, having a facade of Indiana buff lime­ stone and red brick. It contains every modem SWSTRAUS&CO. convenience, is arranged in two suites on a ESTABLISHED 1882 IMCORPORATBD floor of ten and twelve rooms, and was erected in 1912 from plans by Cross & Cross. The attorneys in the transaction were Stoddard & 150 Broadway, New York Mark, for the seller, and Dorman & Dana, for the buyer. 235 Water St. CHICAGO DETROIT MINNEAPOLIS between Beekman St. and Peck Slip SAN FRANCISCO Polo Company Buy*. 5-Story Store and Loft BnlldinK L. J. Philips & Co. and Robert P. Bonsall 38 Years Without Loss to have sold for the County Holding Company. Size, 16.6x73ii; William Crittenden Adams, president, the Any Investor modern twelve-story building at 1.53 to 157 West Small bonus will get possession. 23d street. 60x98.8, between Sixth and Seventh Mortgage, .?10,000 at 5^2—2 years. avenues. The property, which was sold for all cash above the flrst mortgage, was held at $475,- PRICE $25,000 000. The purchaser is the Palo Company (S. Schimmel, president), manufacturer of labora­

INTER-CITY FUEL CO., Inc.

ANTHRACITE COAL BITUMINOUS DOMESTIC AND STEAM SIZES SPECIALTY STEAM SIZES QUALITY—SERVICE—COURTESY STORAGE YARDS AND DOCKS 67th ST., EAST RIVER, MANHATTAN 29TH TO 30TH STREET, EAST RIVER, MANHATTAN TELEPHONES: BARCLAY 8420, 8421, 8422, 9143, 9144 INDEPENDENT OF ANY OTHER COMPANY MAIN OFFICE NO. 15 NEW YORK CITY 112 RECORD AND GUIDE January 24, 1920 the Schieffelin estate, the entire 5-sty and base­ ment building at 291 oth av to the Lehigh Silk -LONG ISLAND CITY- Hosiery Mills. The lease is for a long term of years, and the premises will be used as their INDUSTRIAL BROKERS wholesale salesroom and stock for immediate delivery. PROPERTIES J. ARTHUR FISCHER has leased to Angela Wiskup tbe dwelling 242 Bast 34th st; also to ROMAN-CALLMAN COMPANY Mrs. R. T. Harris, an apartment In 104 West BRIDGE PLAZA BUILDING LOUIS GOLD 40tb St. Phone: Astoria 725 J. ARTHUR FISCHER leased to Frank C. —L0N6 ISLAND CITY^.^ 44 Coart St., Brooklyn, N. T. Robins and C. Bagley apartments in KH West 40th St. WlU erect bnildingi conUinJlU J. ARTHUR FISCHER leased to Joseph Members Brooklyn Board of R. E. Broken anywhere from 10,000 to 100.000 Schwartz the loft in 257 6th av, and to John •quare feet of nuuiufactarlng ipM* C. Ragland an apartment In 104 West 40th St. MORRIS FLOREA leased the 3-sty brick sta­ Brooklyn Real Estate for any reiponsible proipectiye ble, 349 Bast 124th st, to the Catholic Protective GEORGE H. GRAY leasee. Society. OR GOODWIN & GOODWIN leased lofts in 135 Wooster st to P. Hardenburg and to the Gunter Howard C. Pyle & Co. WUl kaUtf tait HU th* •traotnn to * i Winding Co. MortfBffe Loans Expert Appraising aimttmtnm Uklu • moRom. ta k« luutud GOODWIN & GOODWIN leased store and 201 MonUgne Street BROOKLTTT one •• Mind pMlod. r