New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-03-14

transition stage during which n largo number OF
tenants exchange houses and seek habtations for
the coming year. 70 the average New Yorker no locality
possesses than temporary interest and no house
Is invested with any sacredness OF association mpeed
by restessness and love OF change which charac-
teristic of American life. tenants explore the suburbs
visit real estate agencies and prepare themselves for the
periodic nuisance Of moving The subject Of house rents
naturally becomes que Of vital importance to the
community at this season, and any concessions that may
DC made by landlords to tenants matters of public
congratulations
Although there is inot coincidence in views among
house agents and real estate brokers' to the condition
Of the market and the valuation OF property II is gem
orally conceded that the supply than equals tho
demand and that the general tendency Is toward re-
ducton of rents. Real estate agents are naturally 10th
TO confess this but the weakness OF the market is fact
patent that few make any attempt to disguise IT, 1t
Is estimated that least 1000 houses unoccupied
In the city last and onehalf many in Brook
lyn; and large number OF dwellings have been built in
the upper sections Of the island during the past season.
There Ia every indication that very large number OF
families win withdraw from the city to the suburbs, and
that the number OF houses left unOccuped during the
coming month will be larger than for many years past.
Reasoning from this oversupply Of the market tenants
anticipating decline in rates, and maniiesting
disposition to hold or long possible, that they
may take advantage OF any concessions which property
| owners may be forced to make "To Let" cards are
is freely advertised by houseagents and yet compare
lively few houses have been rented thus far there being
disposition the part of tenants Gccede to last
years rates
Real estate agents are lsow TO admit that there has
been decline in rents inasmuch as they interested
in maintaining steady market "The alleged reduction
is purely imaginative" said leading dealer Pine-s,
"for last years rates fully sustained Every year the
cry is raised that rents will DC lower and the newspapers
encourage tenants in the hope that there viii be liberal
reduction late in the Wiser prophecies have been
made this Spring than ever before but after few weeks
of uncertainty and restlessness the community viii find
that the rates are firm at the old figures. general
duetion of rents only result from a reduction Of
taxes and a cheapening Of building materials"
"Has there been any advance in remit"
"NOt TO my knowledge"
as not the market weak and not the old rates
maintained with great dilicultyl"
1.-THE market is weak because tenants holding or,
when there Oyersupplv OF property at the disposal
OF astnis. HeAt nOhth tne degna WIN oqll ttc SUI
win find that landlords have quite little conscience
but It is sure to be stronger next month.
Another dealer in real estate was more candid III MS
bet would develop tendency toward lower rates.
There has been very sensible reduction OF rents on
| business property during Tho year. reduction |
amounting TO Is or 80 per cent IN some t, IN
| house-rents win share in the movement AS a mat
ter Of fact have already disposed Of 70 houses or more
ave which am advertising reduction Of 10 per cent
and property further uptown there is sl greater
to advance rents and everything indicates dropping
tendency they may consider themselves fortunate II they
| sustain last years rates"
Properly in ccntIa locations is in fair demand, and
bonscs There is movement Of TIC population from
northern SUBURBS toward the center oil the cy prompted
getting into town during the past Winter. The natural
result OF this is reduction Of rents in Harlem West
renewal of leases at last years rates in the crowded
portions OF New-Yory and Brooklyn: "A ttuss%or,h ny
| " &C
Twentieth and Fiethsts said that nc had nHndIe,S OF
aud that reduction couid be anticipated IN the lace OF
so strong genand; ri h are me- a. ~ ms
said referring printed list "Sas rented LAST season
valuable houses Lexington ana Mad son-ay,s and il
quarters below the Park amounts to = per cent n some
quarters in demand and reduction except in hsh
priced property is probable
IN BRooELYE
Tie depreciation Of real estate in Brooklyn, and con-
seoucnt downfall Of rentals have been confidently
predicted that especial efforts have been made to com
pare the statements Of Trustworthy authorities and to
ascertain the truth Of the mar The movement OF the
population from the suburbs toward the center OF the
city Is very noticeable Hundreds of the middle classes
who have hitherto accustomed TO lire cottages in
the suburbs are seeking accommodations nearer the
ferries to avoid the long rides by horsecar which were
rendered tedious during me past WINTER 10y STORMS
ard heavy falls Of IL the concurrent testimony
of all dealers with whom Brooklyn properly - sle'ill
that rates this will NOT diner nuch from thc
G NcdeG cS on t that very great REELECTION
may be anticipated in the suburbs In INA. iaFoi3u po
ton OF the cts known as Ihe i hts urlShGn houses
are in great demand and agents have 10 difficulty III dis
posing residences OF the old rates The most fashion
and tlree-stovy brownstone houses bring from sOJ TO
$1,000 Comic cable residences IN the vicinity OF Myrt'
be h. al reasonable rates, although there !
is little reduction rent AT distance from the tafh-
iOuahe quarters, In the direction oi inc auDfp lIL'
number of small houses vacant ana Nu4hiRihc oit
scrring homes more reasonably than they have been
able 10 do since the war. The only Trims that will
strengthen prices in te suburbs Is more rani transit
by steam Communication with tie ferries.
IN EEw-JEBsEY
The bestnatured dealers in the market are those who
have control Of property in te Jersey suburbs for bust
ness with them exceedingly brisk and There is not the
slightest prospect panic in rents Prudent men nat
ury seek to their expenses and the matter
NJ rent e. the most salient point at which economy
becu they seek cheaper quarters To this class sub
urban IG,idonVgS ~ as NJ ttc houses are newly
but and as the country has been recently developed
facilities of communication afforded 10y the railroads
render property Ia this section available Tor ala ashes
who have businCs, In the city.
real estate broker in response To- an inquiry eGntetnS
are prospects 81 decline, toi the ahnouG'meh Woud
empty the city into the Jersey colonies. Real estate I'M
that quarter has never been inflated ana bonsehodcis
have built so cIeaIy ana are 80 IesNed ron
that tCy have been able 70 let their houses 81 low rates
Rents are low people reasonably expect and
the demand or houses steadcs tho market aud Sures
Are any localities more popular than others 2"
"There are FEVER appicdlOhS lor hou'e, ~ NoNtih
and Elizabeth than there were last year. Quiie mum
her of uptown residents have been compelled by the
dppressOn business To let their houses IN the fashion
able quarter OF tie city, andae seeking accommodations
Instance III the city. Tenants Of moderate means
are satisfied with smaller cottages In newer towns Ike
the improvements property prospective, and
rents below 500. Comparatively few houses ar taken
IN HobOken and Jersey CITY"
IN OTHER SUBURBS.
Tho tendency iu the northern suburbs 1, toward