The Brooklyn Daily Eagle from Brooklyn, New York • Page 22

4. THE BROOKLYN DAILY EAGLE. NEW YORK. SATURDAY. OCTOBER 15.

1910. REAL ESTATE NEWS AND BUILDING DEVELOPMENT. VIEW IN MAPLE STREET, FROM BEDFORD AVE. $90,000,000 OF BUILDINGS IN EXCESS OF NEED EXTENSION OF TRANSPORTATION FACILITIES HERE been loaned by the Brooklyn Trust Company. The funds are probably needed ot further ths Improvements that are WERE ERECTED IN BROOKLYN DURING PAST SIX YEARS MOST IMPORTANT ELEMENT IN MUNICIPAL GROWTH This Overproduction Is Mainly Responsible for Present Depress sion in Local Real Estate C.

C. Evers Points Out Other Causes and Gives Reasons Why Conditions Must Eventually The Transfer System Has Produced Effective Results Evils to Be Curbed by Company Rerouting of Certain Car Lines Direct Trips From (ireenpoint to Prospect Park and Greenwood. Monorail System Answers Tests Subway Digging in Fulton Street Again Long Island Trolley Extensions Effect of Holidays in Business of the Week. borough's chief thoroughfare. to be demolished and the work ctng the underground route at will bo put under way.

Tho I i By tne nirpT.i u-m and hi -h In- property adjoining the Ca-tle Insurance Company aeted Interests In the matter. IN PROSPECT PARK EAST Where Many New Houses Have Been Built on the Old Lefferts Estate. of the a lidentlal pnrti llrooklyn Is the old Lefferts estate hich lies east of Prospect Park ane retches from Flatbush avenue to Rogen south of Lincoln road. To thii igloo tho name of Prospect Park Eas is recently been attached. The old Lef rts mansion, which was standing at the me of the Battle of Long Island In 1770 a landmark of this section.

It Is ol Hutch colonial architecture, with long sloping roof and a fine doorway, much admired by modern architects. For over a century and a half tho structure has stood a silent witness of the changes from the days when English and Hessian troops tamped nearby, to these twentieth year when the growth of the city Is bringing modern houses In almost lmmediato proximity. On a portion of tho Lefferts estate, which Is sought by homcseekers on account of Its being restricted to one-family houses Its high ground and unusual transit facilities, extensive-building operations ar being carried on by E. H. Bishop Son.

I operations compr thre, Midwc Maple Btreets. both of which tnrougn the Lellcrts estat- one ot tno otii nomesteud. I h- nrt 1 Posed of Ell H. Bishop and Hurto hop. both wlih years of practical ience In building operations car in several parts or Brooklyn, a of bouse they are erecting In iari( Ea5t section, which ces the Lefferts estate.

Is will -ment and hat all the latest and veniont equipment for easy and able housekeeping. four bedrooms on the second floor Instead lng the additional third floor. The front are of Indiana limestone, richly carved with a pleasing cornice effect, and In stead of courtyards, open stone piazzas li connection with tho stoops. The fron doors are of birch, with heavy wrough iron grill. The hardware throughout th' Is of solid bro Tt-e entrance holla and libraries are Ished In dark green Flemish birch, nigh-panel walnsci both main and foyei ilt-ln bookcases, hat-are finished In Eng-They have high panel racks and parnm The dining roe.

Ush weathered oal lng, English mantel and 1 1 fee bathroom. ing roo closets and four The third floo: have three bedi room, a bathroom and finished In white enamelwlth I and porcelain plumbing. They contain ten re h. The cellar light and airy, with nit In blocks, and con-heating apparatus and live Bishop two-story, on both sides of Bedford and Roger two-thirds have been ilnetr-cn all have been 11 theso houses! lold. Of the fli lold.

Of the raid, of tho rest which are Just re: lave been sold. On Mldwood if the first eight have been light more are now ready, of wl DESIGNS FOR BRICK HOUSES. Result of Competition in Which Over Three Hundred Architects Took Part. A book of designs ft irlok houses, li the work of oeventy-ono is Just been published. It competition, in which prizes for the best designs for a conducted by The an architectural magazine.

the United S'ates, Canada I took part In it. Five archl- I 'burg acted as Judges and I rei l.M-.la.el warded the is It of O. C. Evers, secretary of the Lawyeri lortgage Company, who has spent yean a the scientific study of real estate ani tho has paid especial attention to the evelopment of Brooklyn real estate, con-rlbutes this week a general outline ol he present situation in the local markel nd what he thinks of the future. TheBO of Mr.

In Ith the views of others which en recorded In these columns dur-past two weeks. Mr. Evers says: eal estate market In Brooklyn Is, been for some months past, ab-y slow, both as regards sales and This can be ascertained by any-o cares to go the rounds of the real estate offices or to make inquiries at hand. Similarly, a drive through unerent sections of the city will the presence of numerous vae and flats, but particularly so In i sections. chief reasons for these condition! First, overproduction; second, over-Jlatlon; third, inadequate transpor-n facilities; fourth, the lingering re- of the 1307 financial depression.

90,000,000 More Buildings in Last Six Years Than Needed. The Increase in the ponulation of rooklyn. based on tho nr by the United States censuB of the pres- ni year, shows a growth of close to lalf a million in ten years, which, allow-ng for the increase In rapidity of from ten years ago to the present line would give about 6,000 per annum, 'r about families If wo generally accepted standard of five n-dlvldunls to tho family. Ths averse ost of housing a family Is about $2,000 ier annum, or about $24,000,000 of bulld-ngs. If wo add to these $8.

500,000 of ommercial and public buildings, whlcb M0 for those erected to replace publi'o Improvements, such as the extension of riatmish avenue, the extension of Give! io approaches and pla-tas to in and Williamsburg bridges, figure of about $35,000,000. )vlde all the needed acrom-the present rate of growth: This will pi ral 'en would not The estimated ly erected In yei has be 1004. JS9.7B Km" 1000, 1007, lacs, ir a total of J333 arts making an average of about $55,000,000 the last six years over and above ormal supply, this being about twe by the invasion of the building field br 3 In nstructl ings of a very Inferior quality, which are ly Ida red with violations of the urements. These lildlngs, when sol istors, are the cn nomes or to li of much dlstrei lecount of the numerous repali id, and frequently result In the di: itnora reverting to tl ninus the hard-ennie 3fltlon of tec had hl ii disappear, wllh the gradually dimin- iductlon in buildings Is less easily eked than In most other industries the length of time required for their ction Overspeculation Three Years Ago jjieuns vaiue iteaajustment Now. In prosperous times, with rapidly a vancing values, there Is very little dli en tlon exercised by purchasers as to the real value of their Investments; property tions.

rents go up everywhere, a'l'ivthln: be sold at a profit and anybody cai real estate Ir ''of 3 of supply and de- rhen the market glutted; then and apartments tl iiiltod to the demand, too far from translocation, or In other ways reflecting the nlstnken Judgment of their builders, are l.c greatest sufferers. This readjustment if values has been proceeding In Brook-yn for the past two or three years Small '(initios, third and second mortgages, lave been eliminated and the renting and elllng values of many properties havo Inadequate Transportation Facilities Are important Factors. With the exception of the change of the elovated line T. B. Ackeison Company.

In th- I lav an, a ii; untrue fi-t and II By the Realty Trust. I SOME SALES REPORTED CO0O0OCO(X3C0XMXX)OC5O0000C Drnkrra and others are Invited ta nfiend report nf sales effected for ialllcatlon In tnu column, together WI" other Itetna real estate These shoald be addressed the neal ICetate News Deoartmeal. By Walter L. Johnson. "upU-x' By Charles E.

Rickerson. a hi tut ThCud'ra IJab- By Louis Arnold. additional facilities has the Brooklyn transit company provided in the, the halt population? Brook-id by Its facilities for with Manhattan, by million Increase lyu Is greatly Intercommunicat reason of the population who daily to and froi improvement in Manhattan and the crowds who with the dlscom lying parts of I taee of Its are obliged to travel the latter borough. Any communication between Bronx or Jersey draws aro unwilling to put up closely built sections. Tho inadequacy of transportation facilities to most of the outlying portions of Brooklyn and even to those sections nearest Manhattan is common knowledgo and can be ascertained by anyone.

Property Values Are Now Alia Affected by 1907 Depression. The results of the 1907 depression, from which the country Is slowly recovering, affect Brooklyn real estate as a depres- slon does any real property, which Is tho td by a nnanclal or com- rclal dlstur and thi 3f Its peculiarly If to changed co alow to adapt It lee- ray for the payment of In so for taxes and some of the other ted charges, apse before tl on is felt. full force of the depres- Now, what of the future? Brooklyn Is rowing rapidly, Increasing at the rato si bu.uuu per a lies will grad These 000 fam lthln reasonable reach of transportation buildings which, nave been djusted. will come Into the hands who will bo financially able to maintain them In better condition, and. ided builders are not encouraged to mo building operations especially in ouiiylng sections at too rapid a rate.

or the vacancies will lie led ud. When this happens, buyers will be en- uragea to purchase properties wttn a getting a proper heir I and seller ral public will rush madly Int istato markets, thereby disturbing val-les, and until such time, sales will be on normal and reasonable basis. The nat- companylng demand for properties of all kinds and a consequent gradual Increass In land values, will afford the prudent ator a enance to pront Dy these value for it should for mpared with other similar sections of Greater New York, land values In Brooklyn are still on a remarkably low basis and are bound to Increase In tho existing subway extension between Bowling Green In Manhattan and the Long Island Railroad depot in Brooklyn Is an Indication of what would be the result of providing adequate rapid transit to other parts of Brooklyn. The Fourth avenue subway Is under ci i.striictlon, and tho extension to tho io- will he built In the near future. If planned and seem reasonably assured.

I Manhattan Bridge will open before 1 en Brooklyn will be nravMad "wllhot least the beginning of a comprehensive underground transportation, all, Is the only satisfactory 1 which, afier In addiiion, a great deal of Important 1 vorkMs being carried on which will be if Brooklyn, such as the lowering of mosl if the tracks of the New VorU Ing Railroad (a branch of the Long Isl- Brooklyn, and the ole- ii tnis line and US the i the Ight vards. the loft and stornM warehouses being erected by the Hush initial Company nt South Brooklyn, but not li the pro add that the city has bull! in tl few years a great number of niag- ries, and other educational and kin- ninations have been 'established i ny outlying sections formerly lacking i itherly and westerly portions of afford cost attractive sections for niiiiuing or rrroivinuai homos for of moderate means and for dupllcat- such residential settlement. ihn Manhattan Terrace, nnd possci uldltlrin to adma: r. to the hov ana rl, boulevards, contemplated or already lnld LEASES IN SHOPPING CENTER. Tho following leases and near the shopping center have been made by Geo.

E. Lovett brokers: For Frederick Looser to John F. McCann. the restaurateur, tho building at 10 Hanover place; for the DeKalb Company, to Bonner Benle Lighting Fixture Manufacturing Company, the Btoro ot 31CA LIT" Molds Ivlu.ird II. the four I 170 a period of three I ing the properly at 1349 1 SALE OF COTTAGE AT A VERNE I Mrs.

Hale- Hi, 1-1, has Anna Michel for her conni- friu wtn na a larltor, avenue. Arvorne, through MORE EDGEMEHE LOTS SOLD. The 11. May Company has sold oi no a. L.

Construction Company TO, L. I to A. W. ToMiili.son. I Ml.

Ii I i Hie Siraiid ol l-e. iniv "il inroiiKh Hanie brokers the lUSS purchase SOLD AT FAR ROCKAWAT. II. Frankfort tins sold for B. A.

New lane, Far Rockawoy. Tho building a "li- I "rigr' Stores Comnany" I 1 ESIDENTS of a large city are RasH upon the public means of trans-routes or added facilities for reaching remote points aro of special Importance to all Interests which are con- earned with tho growth of population So It Is of especial Importance thai only should transportation Interest carefully guarded, but the rearrangement and extension or routes ot travel to sun changing conditions are matters of moment and require careful study. Centers of population In any large residential region constantly changing The acthlng i fully considered. transit facilities life in a region which has laii and the extension of means i will Invariably draw people to tlons. TRANSPORTATION PROBLEMS COMPLEX.

the days street to Ja- or the Old It. the tnalca, and branching off at the Flatbusl avenue Junction to tho rural parts Kings County, the stage coaches twice I 1av ji.ihPed wttn loads rst which operated with bells on the horses on Sundays out of deference to the religious prejudices of the population, many of whom could walk or drive their own teams to church, followed theso main lines of Intercommunication and others were added to South Brooklyn and to the Eastern District. Before the horse cars had given to electric trolleys there was a co: CBted system evolved, which several panics controlled, by which practically all parts of the populated portion of the th city could bo reached and the popularity of Coney Island In tho summer seasot led to the establishment of lines of trave' to reach It. which in turn developed the sections they penetrated. After a dan gerous rivalry had been threatened in the field which had before been chiefly ocou pled by one company, a consolidation interests was In which all th surface and elevated roads In tho bor united under the same goners ent save two.

Theso Joined forces and stood aloof from the general corporation which had control of all the many miles of street railroad for which franchises had at various times BENEFITS OF THE TRANSFER SYSTEM. Then camo a great addition to the facilities of travel to all parts of Brooklyn hy the Introduction of the transfer Eystem by which rides on these lines for one fare were made possible. This, with tho extension of routes to reach outlying sections and give adequate means of transportation, is In tho main responsible for the great growth of Brooklyn's population disclosed by the latest census figures. But with the extension of the transfer system came Its abuse by the facilities afforded for the use of transfers at various points, when It has been possible to leBve tho car on one line and take another and then a third so as to make a circuit and practically return to a starting point on one fare. So much Ingenuity 'whipping the that the company has come apprehend a serious a remedy by substl-insfers for the here- loss and has devls tutlng "direction" tofore unlimited be possible to rev reed In tho same NEW ROUTES FOR SEVERAL CAR LINES.

In pursuance of the policy the gen teenth a Porhap is that Important new TO DIG FOR SUBWAY IN FULTON STREET. Within thirty days ihe buildings on the portion of Fullon sirect between Flat-'lusn avenue extension and Ashland place, the sites of which will be occupied by the uaw I'lounh, avenue subway, beneath, that I 'en structures which will hi sold for trifle th: of the pur expect i profit what they bought. The tenants all had notice to quit when the city took possession, ond there were a large number or Bids received for the structures from housewrecking compantee and others. The property was in the main taken by dealers In second-hand building materials. Some ridiculously low bids wore put In, only to be thrown out by the acceptance MONORAIL SYSTEM OF TRANSPORTATION.

The novel means of transportation by the monorail system, which Is being Installed In Pelham Park In the Bronx, has had the usual fate of new enterprises In ing unf.ir..i.n aeeljoi ration. But desplto adverse the faith of ans weakened In the ultimate outcome of the experl-j ment, which, if successful, may largely revolutionize transportation conditions. The system, which is unlike other one-rail devicesvin that It has a single rail on the surface and two guide rails overhead, which maintain the stability of the car, was operated for a period of five months at the Jamestown Exposition three years ago, and carried many thousands of passengers. To install it on a line from Boston, In Peiham Park, to lieiaing Point, City Island, a route abou three miles long was secured and th( privilege of placing the monorail tracii and structure alongside was obtained from the park authorities for the mile and a half that the car route extends in the park. When the structure and car were In readiness and practical testi had seemed satisfactory, the carrying of passengers was begun early in the si mer, but the first day an accident curred on one of the curves, where of the structure, fastened with sd! Instead of bolts, gave way, and slight Juries were caused to a few perse mainly by broken glass.

The operat ture was restored and strengthened, and fuller tests were made by the Publli Service Commlsi which was t( velght of sevet rate of thirtj load the car with a dead tons and run it at the miles an hour, which wi done last week. The Publli mibslon had Just express siully Com- tion with the test and authorized resumption of traffic when early this wee! an automobile ran Into the monorail eat at the crossing of the park drive and sustained slight injuries. The car was nol hurt and was operated the next day, run ning with smoothness over the route anl answering every test. The carrying passengers for pay will begin shortly. and It Is hoped that nothing further will nauguaration of the new means of rapid transit.

TROLLEY EXTENSION IN L. I. SUBURBS. Trolley extensions on Long Island ore endering access to many delightful rural egions more ray ml -h is in waiting for cars than railroad tranepor- Involves. The linking up of suburb suburb by the extension of trolley tracks along highways serves not only to Increased Importance to the villages eached, but also to tho Intervening Whltestone has celebrated this week Its trolley connection with its neighbor, Flushing, and also with College Point, roller.

From Flush- ward il by trol- in an hour to Roslyn, and from thence Hlcksvllle. Mincola and Garden City on tho south, and to Port Washington on tho On the south side of Long Island Shore to Smlthtown. HOLIDAYS IN JUXTAPOSITION. middle of tho terest In Columbus was actl fested by only a portion of "Everyone Interested In nov tlons should hall Columbus at promoter. Did he not disco land for the congested populai rope? In another sense he wa promoter.

He got Queen Is furnish the ships for his ent. which she put up ber Jewels, a plied the ocean." NEW SUBWAY BIDS TO BE OPENED. 9 ths 1180,000 MORTGAGE FILED. A mortgage for $180,000 has been recorded In the register's office by the Height! Cas'no Company. The money has occupied by those who for- great Improvements that are being madi In all parts of ihe city to meet tho demands of Increasing population and tr provide for tho Increasing commercia life, and they are not waiting until they are iorceu lrotn their localities Dy the; two strong tides.

So many opportunity aro being offered to them to obtal homes of their own on good terms thi they are figuring how much they hai paid and are paying In rent, and wl this should not be put Into a home i TRIP TO SALTAIRE. New Ocean and Great South Bay Beach Development Visited by City Residents. An important event in real estate clr cles ipecial party of forty Invited guests made trip from Brooklyn and Manhattan to Saltalre, the new ocean and Croat South Bay Development Just east of tho State Park on Firo Island Beach. The officers of the Fire Island Beach Development company Invited tho party to partako of a clam bake and they startel for the Flatbush avenue station of Long Island Railroad at 8:42 A.M. Bar sred steamer to the State nd at 12:30 was served with one i biggest and finest clam bakes on There were not only baked clam oysters, pealioss, lobsters, i and watermelons The party then taken to tho Is considered by realty experts to be of the finest properties of Its kind is yet undeveloped.

The officers of company ore miss, lent; l. ho a k.i megaton, vice president, and Prank Hendricks, treasurer. Aiming those nresenl wero ft. (I r.reen W. Dix, Thomas Fleming Day, Richard A.

Bachia, Frank H. Gordon. Charles I in, lb-. Herirv Von Claim, Von Olahn, A. F.

Von Thun, Harrison S. Colburn, William Hendricks, Herbert jjuwreuce, Jiorns N. Lawrence and J. Anderson. Incldentlal to tho trip about $15,000 the party.

COMING AUCTION SALES. ome Valuable Property to Be Disposed Of at the Real Estate Exchange and Elsewhere. A number of Important auction sab will take place at the Real Estate E) change In Montague street the coming ween, un ruesuay, uctohcr IS, James Brumley will sell by direction of thi Brooklyn Trust Company, executor, the two-story and basement brick house at 723 Greene avenue, near Sumner avenue, and the three-story and basement brick dwelling at 154 Dean street, near Bond street. On Wednesday, October 19, the same partition proceed- propi the three-ste ry brick building at 040-042 io, and 030 Fulton street, amllies plot 0 ilnth Btreets. 128 by 100 feet; 'lot at Ihe corner of Sixth ui iity-nith street, loo by so fesi 5ast Sldo block front of Slxt rom Fifty-ninth street to Sixth 100 by 10n.

Including both come This sole Ik regarded as oi will be conducted by and tho lloKalb 27. William P. farther development will prnsescuted III Mnlba. on the shore trout of White-stone, new operations have been begun on ie hills which, when completed, will furnish an outlook over the Hound and Knst lllver from every home site. Two new thoroughfares, extending through the loumern end or the irnct, have been ipenea and Ihe main drlvo has been ex-eniled to the point from which the pro-vised boulevard aloiiK the shorn to.

Wll- of them to bi merly rented "Again pec tS "th't id to cb-I case is vain, a 'lily nd- he open- id to the ay Ridge Of the ue i2s to 331 randas at tho front, rear and side, win-w8 with blinds and windows without rdene laid out prettily with flower beds gravel walks, and nil manner of pat-ns in brick. Accompanying the dcslgm chapters dealing with tho progr, 3 fact 1 llgur lining beauty of the brick REALTY CONDITIONS HOPEFUL Some Expert Opinions In Regard to the Favorable Outlook Need of Better Transit Facilities. I believ the Ity uatlon ing strong! H. Hyler, stronger." said Frank is had long experience broker In the Bedford a steady demand for id property and we havo effected a and thus far In October, and the Is good. I believe a steady, concerted movement would put the market back where it belongs.

Of course there has been some overbuilding in outlying sections, but here in the heart of the borough there iB a good demand for good property, and renting has been especially ctive Of the South Brooklyn re in, De Hart Son, tho Bergen, of J. De H. Berg( longest established rei 'While tho market ere Is an active de-and the renting has mand for apartmet apart in a ished, and the builders are puti i rungs inflated values 3 a steady busi- it thei will ink Bailey, vice president of the Guarantee and Trust Company, in -zln-j the realty conditions, said: between September 1 and October am convinced that the real estate market In Brooklyn Is healthier, and tin re Ik more lie irt In tno people existed a month ago. ooklyn Is suffering primarily from cons-rucilnu nnied uing and sub- 3 the pan And In those sectlont they did ry. In Brownsv ent.

of vacancle nd the rents an there aro not 2 pet the entire district, than they other sections of the ii-aV'rlrt! 'throu ')'' 11508 1909, until the beginning of 1910, when I'm hi i ii I'm: s- cm of selling, compelled retrench- In action. year the tal a cent, reduction In cor idly restote normal ci supply will not be ah but it will probably months before such 1 will come about. Th probably about 1 pe was a year ago. restored to normal ment property, and th those who have studied conditions that the growth of llrooklyn is sure to tinuo, hut that It cannot continue al same percentage reported by the last I expressed le.rge living nnd dining rooms and large bedrooms with outside nlr ond light. Bach apartment of two floors haH seven rooms nnd a bath.

All ore finished with parquel floors, and are richly decorated, ami have especially fine lighting fixtures for bo gas and electricity. These houses are mar to the elevstfd, the new subway and to several trolley lines connecting with all utfrts of ths city. PARK SLOPE DUPLEX HOUSES. Walter L. Johnson Ninth street, bc-Uh avenues.

They i typ with Its own en-upper one Is super-They have extra imposed on the Ists I'olnt will bo constructed. Illume Co..