The evening world. Newspaper, May 3, 1913, Page 5

Building of the Home as a Matter of Economy Auctioneer and Appraiser ¥ Has Been Promi- nent in the Activities of Many Sections Says| That Big Opportunities of the I iate Fu- ture in Land Develop- ment Should Be Found in the Dual Subway' Territory Along the| Béstward Line of Ex- oe ; nsion. @V BRYAN L. KENNELLY. Wow that the metropolitan masses have pushed practically to the limit of Berthward home expansion, the con- @truction of the dual subway system ta about to open an immense eastern tergitery for occupation. We ene who has studied the situa- tion doubts that the great movement @f the home-seeking millions must be GAYAN ¢. AENNELLY Washington Heights The next few yoars tory Alled with popu- lation to the point of congestion. Real eetate operator: investors know this now, and transactions have caueed land pri Gigsount this phase of the future. Priees reflect nearly all that can be made of the northern sites even un- al the occupation of = dense popula- ® quiet way. tunity for practically initial prices. much higher. tan, because the moving masses will Dut the land to the same uses, thus ‘raising its utility and making it equal-| 404 Sixth street ee @ site dor tweive-|New York Telephone Company amd 4 investment. tal The campaign for equalising vaiues| Woman's Hotel Company bought at upon this basis has started already in| #10000 No. 5 East Twenty-ninth street enty-five lots Shrewd operators have been taking advantage of every oppor- getting good holdings at hall ha’ ed Le th movement al ve assumed more mo- tareagnaeyd beg etsy it will be seen by other classes of investors. But prices then will be/State and Pearl streets, et south end of bar esa hte ted teal a njge sp Matar From Columbus Circle, at Broadway THE EVENING WUKLD, aud Fitty-atath etrest, the way east- Ward across Queenstero Bridge is now as easy and as ready of access as te the way northward along Broadway or Cen- tral Park West. To the business and distance ts less than two miles. The Long Island City lote can be bought under 93,000. Now look two miles along the north- ward ling, It takes us between Ninety- fifth and One Hundredth streets. Few lots there can be bought for less than To get lote on the northward line as low in price as those two miles out on the eastward line one would have to Journey from seven to ten milés, be opened by much better jr the dual system. weighty economic facta for the consideration of home-seekers and home-bullders, I do not think I am belleving that these facts are with the real start of the Leng Island City boom, which will follow the coming big auction distribution of building beta im the Thomeon Hil! section at the end of this month, THE WEEK'S NOTAGLE REALTY OPERATIONS. CITY. Harry Schiff paid 900,000 for Bloom: ingéale Reformed Church on Broadway at Weat End avenue and One Hundred story; apartments. and No, & Bast Thirtieth mtreet as site! for @ twelve-story addition te the Martha Waghingtoa. William H. Chesebrough and Oakieigh Thorne completed site of 20,000 square feet for office structure on Whitehall, Manbattan. United Charities Gought Nos, 10-18 But took carefully along the eastern ares to e opened—iand values there are practically in the suburban stage. ‘Phe investment depression of the past lve or six years has prevented apeculs- iere from exploiting ot. Until recently there had been no notable activity to isdount the remarkable change In con- tens which will follow the operati#n ual subway system. Land prices four or five years behind the level which they should have attained under Rermal investment and speculative con- ditions. ‘There, then, should be the most inter- eating theatre of operation for the Meeses of home seekers and home builders. There they find the highest @sonomy from the certain enhancement tm lend which will mark the coming years. ‘We may say that the metropolis of (the now dual rapid transit system will oo Long Island City. It will be the hub. In fact the new transit will be a dual service in name only to ell parte of the City except Long Island City and its @uburbs. The Bronx and north Manhat- tan will not have the dual system be- oause they will not get the B. R. T. ines, Brooklyn will have only a small touc& of It because Brooklyn will get nly a very short section of the Inter- derough lines. On the contrary, Long sland City with ite Queena, tributaries will be covered completely with both the B. R. T. and Interbdorough, giving it five-cent fare service over all lines of those two systems, HEAVY POPULATION FLOW STARTS LONG ISLANOWARD. This alone means that Long Isiand (City and ite next area for the heaviest movement cf Rome-seekers, 1 Im addition to this—or possibly tn part recognition of it—Long Island City ‘e developing rapidly into the greatest \ anufacturing district in the United “. Btates. Some of the largest industries the country have bullt plants thera. are preparing to bulld or are ne- Botlating for sites. Industries are mov- ing there ae the logical centre for the metropolitan overflow, The new plants are drawing thousends of wage-earnars to that place. , Independently of the overflow of home population from the older crowded cen- tres, thie ang that constructional projects along the eastward line of ox- pansion must be undertaken every year for an indefinite period on a scale equal (to the building of an entirely new city ‘of ordinary size. The targest and rich- est of industrial concerns will compete for sites, Land values will riee under their in- tent demand to levels reflecting the ‘utility, Mdany other forms of business will fol- of workers must be housed euppiied with immediate living necess!- ttes. Their homes must be scattered through the near suburban districts where land is cheap and transit \s good. Home-buildere in turn will have to compete for the beat sites and their In- creasing efforts to house the growing land booms which Waves along the a ‘PROFITS IN s-EQUALIZATION OF LAND VALUES. ‘When this movement is well under way q@muth of the business and popula- tion that have been jammed into the Dusy Manhattan centres will pour out Glong the eastern line of least transit resistance, With it will go the higher land values that have been acdumulat- ing tm Manhattan. In other wo there wilt be a great readjustment or ‘equalization of land values. The Man- \hatten maseés that have been using Nand with an average valuation of $2,- 009 @ lot will move to Long Island sites where values are averaging 000 to $3,000 @ tet. Ther occupation will tend to ralee the Long Island sites to a value comparable with the sites in Manhi REAL ESTATE AT AUCTION. ‘are on-grade. ‘the next two years. flathouse centre of Long Island City the} Bast 4 atreet to enlarge ite Fourth avenue holdings. Salmtion Army sought Mo, 101 West 18th atreet to complete site for $1,008,000 Gen. Booth Memonial College. Greek Orthodox Church bought olf Amity Church edifice, Nos, 900-812 West bith street and No, 818 West 68d etreet. J. J, Btelndier Company sold eight- Story Lancashire apartments on Sth street net t: Riverside Drive at §22h400 | to new company. A, M. Janpole as president of Napo- Jeon Construction Company sold New twelve-story commercial uliding, Nos. 5-29 Weat Thirty-first atreet, at $660,000, to Rutgers Realty Company. Upper west side apartments sold in- cluded the Markeen, at Nos, 00-07 ‘West One flundred and Witty-cizth street; Dayton Court, et One Hundred and Gixtieth street and Fort Washing: ton avenue; Hudson Overlook, at One Hundred and Eightieth street and Pine huret avenue; Audubon Hall, at One Hundred and Fifty-seventh strom aad |Seventy-sixth street, from Fifth te javenue. in @ year, dought both @f that street from Bixth to Seventh ‘avenue as oltes for fifty more. Business concerns Gought many sites fn Long Island City, near Queensboro Bridge Plasa. Buyers included the Toland City Star. 8. & L. Construction Co, bought sev- Edgemere Crest, Far Rockaway, I, a8 sites for fourteen cottages and two hotels, to represent $900, 000. Trinity Church Bought a site at Kings- bridge road and Two Hunéreé aad Thir- ty-third etreet, in the Brong, for a John J. Randall Company eold houses Qt Woodcleft, Freepert, L. 1, to Mrs. i. REAL ESTATE AT AUCTION. | REAL ESTATE AT AUCTION. | BATUBDAY, D. D. Martin, J. Francie Hust, #. J. Riley, H. J. Queripel, Mre. Christine Jensen and Bilas W, Kecles. Degnon Realty & Terminal Improve- tment Ce. completed pians for spending Genero Guring the riext five years in Aeveloping 2,000 Long Island City lots. ‘Thomas W. Lamont bought @ country estate at Easthampton, L. 1, and will bulld @ big house, Development companies in al! sections feported greatly increased buying of houses and altes by homeseekers of all e MAX 4, ASKED DOCTOR TO KILL HIM. | “You Cam Bacity Panetere Some Vi- tal Organ,” Wayman Urged. CHICAGO, May 3.—At the Inquest on 17, Dr. W. K. Murray testified that a us to the euicide Wayman 10 operate upon him in Haye In a FOR AUTO MURDER, 14 YEARS ‘Past Detver ta Obienge Hit Man ané Kept Bight On, CHICAGO, May &—Lewrence Lind. bloom, @ tamiead chauffeur, was con- victed ef murder yesterday in @own and killing Joseph Weiss. first conviction for muréer b; { bern oy Caleage. He wae given four- a Aug. yong 1910, Lindbloom was apeed- | ing chirty miles an hour in Cottage ave- nue and struck Welss, a miiddle- aged clgarmaker. hept on, but was compelleg to stop after running two blocks beenuse the Gody was tangied in the machinery, REAL ESTATE AT AUCTION. — AODRESS ALL OFFICIAL COMMUNICATIONS TO THE SUPERINTENDENT) Dear Sir- Slee Ne Ue oF The Barking Department of the State of 'New York; as liquidator of the Carnegie Trust Company. and the North ern Bank of New York, \is largely interested in the property formerly known as the Morris Park Race Track; ‘located in jthe Borough of the Bronx, City of New York, extending from burhe. evuet "Sesame: the about the line of, 175th Street to Pelham iain a This property, consisting of about 3000 lots, will jbe sold at public auction, to the highest bidder on May Silst, 1913, and succeeding days: The property is ‘high ground, many of the streets The City grew up to the property yea: ‘and this great tract has stopped ite developement in a northeasterly direction. There'ane‘five railroad stations on or in the Your attention 1 proposed sale. Ammediate vicinity, a number of trolley lines come to and along ite borders, and this Department is advised by the Manager of the. _Interborough Railway that two of the lines jot. rapid’ transit recently adopted by the City will have: ‘stations adjoining or near the property, and that it is expected one of these lines will be in operation within This property will then be in direot communication with all parts of Manhattan and Brooklyn for a five-cent fare. respectfully called to this Co. ‘an® th@ Northern Bank in liquidation, For Maps and Particulars regarding the above letter, apply to J. Clarence Davies, 149th St. and 3d Ave., Bronz Joseph P. Day, 31 Nassau St., New York City 1918, * 6% AGAL BOTATE POR GALE Lona | Ly ‘ 14 FOR GA LONG ISLAND. portant announcement has just been made by D. Maujer McLaugh- in, Pte ofthe Winder Land and Improvement Ca, that a extraordinary record of sales has just been ee nr ee prominently in the rapid development of Long Island The Record in one week WeErye 1918, the tr from 5 eales amounted to. 9117688 ep tt God Its Meaning ‘These figures mean something to everybody; they Floral P. Oceanside, Hem Valley Bereara, Rockville Conase, Lynbreck, Rossdale and St. Albase: You are invited to visit our booth at the Real Estate Show at Grand Central Palace. Windsor Land and Improvement Co. D. MADJER MecLAUGHLIN, President. Office 4 ‘ . . ° . Times Bt, and New Cty TATE, AT “AUCTION. _ WHAT DUAL SUBWAY WILL DO FOR L. L CITY Corona lina aresthe gniy eections ef Greater Now York, except Manhattan be- low Vifty-ninth Street, which will get tho benefit of both divisions of the dual |Vegetable Farm iL; |} BLINE REALTY COMPANY, Dept. W, 25 Church Street, N. Y, ‘The New York Times POL BL TORK. SUNDAY, MARCI ® 2 MARCI ®, 2018. + | | Absolute Au Auction Sale| | i Y OF Ti sna OnDEA on the premises Satu 450 DUAL turda para On Thompson Ave., new 200 ft., Boulevard & Bliss 8t., LONG ISLAND CITY DUAL SUBWAY STATION ON PROPERTY THOMPEON AVE. TROLLEY Passes Property CENT FARE from Manhattan) TROLLEY DIRECT rune on 42d 8. "ALL CITY “RIFROVEMENTS Miccbseel St.te et tere: NO ASSESSMENTS FREE TITLE POLICIES. 70% ON MORTGAGE AT 8%. +8 of write for Bookmaps and further particulars. Bryan L. Kennelly, Real Estate Auctioneer roadwa: Telephone Cortlandt 154 N REAL ESTATE FOK SALE— HEAL ie TE FOR Liat NEW JERSEY. Special [nduce ments to Homeseekers 50 Fruit Tress —50 Chickens FREE Planting Szed for 2 Sm a Small ROA? TO WEA TH and| ' ,, IMDEPERDERCE) NO VOLISHERD wanted anes, Atwly Steger & .FASHIONS:—. Special 8-page color supplement, edited by IMAY MANTON. THIS COTTAGE AND AN F R E. E ACRE OF GOOD, PRODUC.-||with next Sunday’s cor the presperene end fect-greving mem TIVE SOIL, $625. SMALL World. festering commeasitioe of Newari ond Bie» AMOUNT DOWN. $10 bath, were tant to epiy lasreasisg in vas, MONTHLY. Smart models in sim: ple styles. ‘Write, Call or Phone for Pree Relircad Tlekere to Inepect Some. Deity Bxsursion Leaves Our Office 10.20 A. M. and 2 P. M.; Sunday, 1 P.M Near Molin Line Po. RR, easy commuting; Spoctal Inducoments to Purchasers of More Than One Aer.