New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-05-06
RENTS as THEY WERE and ARE


The first of May has passed. and the annual |
hattie between landlord and tenant has terminated This
year the contest unusually obstinate and pro-
tractcd the fighting for reduction of rent and
the landlord doing his best to maintain If not advance
the rates already received when business is good and
people making money they very apr b. neglect
business and personal Then we hear such
expressions as doesn't matter what merchant pays
for the rent his store If only the location I've the right
one, and the tendency 10 extravaganza IN dwelling
property constantly increases
Tie successful merchant becomes dissatisfied with inc
house that has proved pleasant home to him in the
DAYS Of his olerkship while his business was |
SMALL and aspiros 10 elegant bFown-stone 'front.' On
Murray Hill the Avenue, and must needs nave his
horses and carriages. only this but he dscevers
poor man-tha his health suffers from overwoTK; tha'
he Is confined too closely TO business, and mvst have
recreation The beautiful May days come and ne mas
his quarters on the Avenue too close ana fears the SUM
1ner heat VIII be too great His family too need inc
country air The result of his deliberations IS that ne
must have country seat for Summer residence, ana
CITY home for the Winter Accordingly he purchases or
hires for the Summer cottage costly residence
at Newport Branch Saratoga or in one Of our subur
villages But when change OF times occurs ana
money is business then the first thing the ner-
chant docs IS to scrutnze his expenses The story that
seemed plausible to him before, that he could pay an
almost fabulous sum for the rent OF his store,
IL in ihe right location seems great falacy.
lie resorts landlord demonstrates, demonstrates
u n
have nothing efthat reality he is keeping store for
bislapdIord's beneftaud ends by demanding reduc-
ton At the landlord declines; he too must i've he
saws He invested the proceeds of years OF labor IN
thai store and depends the rent of it for his support
Really high, assessments so heavy, and v-
ing expenses SO great that he cannot make reduc-
lop Sorry to lose his tenant but thinks ne will find no
difficulty i'm obtaining another at the same or higher
rate and so the interview closes and guerrilla warfare
opens. large notice announces that the
property is ito let" agent is visited by both par
teshe 81 request him TO obtain tenant, the other
to look his list of prices and vacant stores Inc
agent-sy fox-tells the go yes, your store Is
very desirable right the thoroughfare there Will be
plenty applicants for it-can let it easily enough
But the price ~ the landlord ventures TO suggest MY
tenant, Nj So and SO, declines to pay the same as
last year, and quotes TO me the prices OF oher sRSs
where ne can he a well suited at lower rent, iLe
price Sirl you obtain $4,000 the same as he has
been payingi" "EO trouble at all, Sir, answers the
agent; only give exclusive control and manage
of IT, and will get $4,000 for your property so
the happy leaves the presence OF bus agent ater
binding himself not employ another and not TO inter
ferc with his plans and seeks his home with the pleasant
feeling that he has got the best of his tenant MI 80 ana
So and he don't whether SO and so remains or
not Mr. ireItHer tne as1s, nag .%' ccoy He has
even Mr. Pretender keeps record of all the
leases and knows when they VIII expire MT Pretender
just when this firm and that firm Will seek new
store Just how much they pay us now soon Ie l re o
tion and MT MIR. Prcender assured him that he can
that ne knows just where to put his hand on customer
In the mean time the original tenant finds more
reasonable owner and store at lower rent.
weeks pass and the store not rented The owner
takes TO task tne agent VINO afCrs ms d "s sire ~ Ta
mains the hands without unusual good luck
where the owner listened to his agent The store
value II now vacant and the season entirely pas or
renting. The would be glad to accept 5000 or
s1oEgh i within e last five or six as much as
$4,000 The thing has occurred in many instances
with dwelling property Landlords have been unwilling
10 make very reasonable concessions demanded by
n eS left ON Gand are ncccaped for his reason
tei ant. have been unable T. KY e Ies S have been
compelled to seek cheaper quarters: ,,., ,.,o,.o.,
the lst Of May most all the leases for TINS class OF
property terminate on Ftb instead OF May L. Inc
reduction which has taken place has been from
Not so many changes as might have been expected |
have occurred among retailers. There has been some
moving hut than usual-we should judge hardly |
as much; and. contrary general opinion there hes
been no great reduction of rents In instances and
in some localities there have been concessions bnt the
of retail stores well located have succeeded IN
obtaining nearly the same rents as last year;
probably not exceeding per On Third-ave. the
about the same as last year. few landlords
ir,crty The dwelling portions OF the buildings the
lower stories Of which used for business purposes are
rented for the coming year at lower figures than before
succeeded in casesnOt many. Ia this locality
probably command about the same as last year
Taking the total of the changes in uptown business
10, aities the result viii not materially diner from the
There are hundreds perhaps thousands of scat
tered this city for which the tenants pay from 500
Tor respectable wholesale in toerable locality.
Tie occupants of these stores do business of from
$4,000 often less and it is of the mysteries
81 Newiork life how they can make hoth ENDS meet.
They have a capital at starting of from $500 To $4,000
unfrequent occurrence for those who dis
peHse the credits in our wholesale houses to receive a
pcatOns for credit from keeping such stores,
whose alone exceeds their entire capital And yet,
year after year. sangulhe individuals as biuy on as TINS,
hut little better conditioned, pass On III the same
track. OF course they cannot succeed A
encreg O" Sonsuacd little more tine passes,
and they faii-perhaps abscond-leavug unpaid
The capital with which they started, aud which was
entirely nadeque TO the business they proposed to fol-
farm in one Of Western States where each year
would have increased the value of the prOpcrtywHere
they would have owned their homes. Independence
from the outset In the end, and healthy occu
patton, would have been the accomplishments of their
business instead of savsh life of rivalry and depend
euc resulting in failure and loss. The city has three
where Is needed and the sooner the fact
IL recognized the better Those who withdraw with
profitable employment The tendency |
of the age as far as cities Is concerned nee is
year manesty than ever before III regard 10 the
Wholesale business many having out, and but few
swallowed the smaller. SO it must be- more notice
ably in the retail business The reason is evident.
which have grown 10 an enormous volume since the
war, confined 10 one concern instead Of beng null
tipcd by number. The business Of two or three con
GERMS consolidated can he as well transacted under one
and under the of one rent as under Two or
ilIcc % TIE E1Btr hS ~" Ia Scl 'iu 'uC
ones are crushed out entirely by competition ana eA-
ceSslNe expenses
In dwelling property OF a moderate description some
reduction has taken place. but there has been no great
and general marking down. On Twenty third and |
Twenty ourhts located between 40 and 80 houses
large, roOmy, and well kept-Owned by one person.
Those Twenty thirdst command 5000, the same as
Iast year those Twenty fourthst less price, but
the same heretofore. There have been few or no |
changes among the tenants, and had there been there
numbers OF others on the landlords hst OF app-
nts ready to avail any vacancy. Cheaper property
further uufdShlOn&bIC