New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-02-15
HOUSE RENTS.


WITH REAL ESTATE AGENTS BULLS" IN
RENTs-ABsFNTREs RETURNING FROM EU-
ROPE-FAsHIONABLE TENEMENTs-fhE oflN-
IONS OF TRUSTWORTHY OBSERVERS AS TO
RENTS AND LOCATIONS.
AS Spring approaches, the New York nina
experiences its annual agitation concerning rents Some
real estate agents and dealers say that is yet early 10
begin to speculate upon the probabilities as to the rise or
fall OF rents IN April but careful collation. OF the state
mens Of different authorities and study OF the causes
which always produce variations I'm rents will result In
fair approximation to the truth OF the matter.
To allay the popular anxiety in this connection rs
much possible, a careful survey has been made OF
the real estate market with especial eye to the rent
prospects As both the selling and renting OF houses are
brisker when general business is nourishing and all
property has an upward tendency, 1t ia not in human
nature for real estate dealers brokers' and auctoneers
to present the condition OF affairs in its worst light when
the business Is dull and houses and lands have down
ward tendency. They generally bulls'-d0ng their
best lift the market Encouragement TO hope for lower
prices then, must come mostly from persons who are
thoroughly acquainted with the business, and yet not
actively engaged in not making rents speciality.
CONFLICTING STATEMENTS.
The following conversation. held with trustworthy
person i'm the anteroom OF leading reaestate Office, Is
I'm striking contrast with that held Immediately after
ward with one Of the employees OF the Office and the two
cooques y represent the ideas expressed on the one
hand by those VINO are dcQudltu WIN tIlo id'tS
willing to reveal the and the other hand by those
who know but are 10th TO tell how weak the market Is
Said this outsider reply to question as TO the pros
poets:
"There IL no doubt about IT, rents must still go down
There frghtin number OF houses ana stores e,p
cant especially significant because the money has 10 DC
made in them 10 pay for hOuserent the enormous IN
aaon of real estate that occurred during the war held
on till 1863: since then the market has been grdud
weakenne and the end IL not yet good year for bust
mic hf hay 4
gune hopes entertained last FALL the good time DaS no'
But with gold so near par is there not general feel
ing that the real estate has touched DOttOmF UNI,
well there is great difference Of opinion whenever
this sort of property fell little holders would INSIST
that now il was down level with gold but these are
verv diflcu matters Ia decide as financial cOndi
inns I'm tbis country are continually shifting in ways
yr he rtber faiI of house rents in New-York this
Spn of at least Is per cent Landlords viii not endure
80 many empty houses this year as they dll st year
cnDty IN Brooklyn atone There must be at least hall
RaIk with one OF the office clerks elected very DIFF
ferent sort information. In response to an inquiry as
to tho probable OF rent next Spring, he said, en-
phatcally, "Thcy VIII rule hgh.. "a,
ION what do yOn base your statementF ,,,
"On tine fact that both furnished ana uniurhi'heu
houses are scarce"
There must be great change since last Summer then
for in July counted 50 tine brownstone house' empty III
arsst Where do yOu find the mostgood houses to lentf
Fvcrvtbing was "Iovely" with this young man. All
kinds OF houses were and held at high figures He
suggested reasonable idea, however ms was lhI
there had been great addition weather. class or
ctzen on account of the war 1t is reasonable 10 sup
pose thousands OF New Workers, VINO nave ocen "
PE n 9 aTF home i by the Sa It @
very few Americans have remained IN France ana the
constant danger OF a general European has DOUBT
less driven them home from many other Oid World eoa-
tries. The fact that Germany ana the Geillie otes
expected 10 be the seat or tne war wien ~ Dkt
naturally induced cOuntrymcn resident thefe iOi
pleasure business, OF te ouCdSo or o nnires have
hurry home Thus the Two btlg.Ienb eotIslos na',
been doubtless deprived of most OF their American popu
| atiOn-even those who were permanent residents
some of course sought Italy, Switzerland, and England
but enough have certainly returned nome 10 iecI SUI
onsly the rent OF trst-cass New-Gork residences
! This moursion, however, is largely offset by the
hundreds OF hOuseOwncrs who have been compelled 10y
Lomes-furnshed and ahfurnshed-tO those who could
| afford to pay good rent for them.
JERSEY FIRM AND TRIUMPHANT
The next firm visited able and willing to tell the
whole truth about their speciality in real estate, as they
largely represent that favored portion Of the country
which may be called the Jersey suburbs of NewYOrk 1t
is well known that the downfall of rents in this city and
! Brooklyn has been lately accelerated by the
| facilities, more and more e&ensWey ol h
| every year, for obtaining pleasant ana cheap
| homes in Jersey. The reasons why our p0pu.
| aton has flowed abundantly in that direction OF
late, aye easily discovered In the nst pace Je,o9 nag
only lately become fashionable, 80 that the price Oh ln
was kept down. Again there Is @do Isac9 90 VI
pleasant land there Again. one giedt point o @
ity possessed by jersey over distant parts OF Long
Island for instance consists IN the IcS ti arntr
tween us and thousands OF miles OF nhaDted country
and il therefore necessarily trayersed by many nrass
|
trains. The NeW-Jersey firm mentioned ELDeth ram
field and Orange as the towns OF that state mat are pa
ticuarly 1Ourshug. Newark is city by ITSELF quite nde
pendent OF New lOrk Being largely engaged III manu-
features its dwellings are chiefly occupied by those who
do business there AS 10 the other towns spoken or and
in fact all the smaller Jersey towns ana villages Bg Oh
railroads within 80 miles Of this city the firm were DOUBT
less correct in saying that fall OF rents can be ex
pected this year in them owners insist on the same
| prices that were asked last year
One Of the novelties OF the year the town OF Linden
on the NewJersey Central This has been laid out by
man named Bancke, who has 300 acres there III DAIRY
farn the milk from which Is sold I'D TINS city Wlthn
months he has built from 50 To % houses Ahout nan
OF these been sold and the rest rented At tran
ford Westfeld and ROsele rents are sh and selling
prices well maintained, though there is not the specua-
live excitement of 1862 There Is nothing sac rlnceu the
AT ROsce not "a single house is vacant AS values are
the prospect IL that much building VIII be done there
| than we're projected at this time last year.
| Among Central Railroad towns scotch Palns IL
buildings have erected there in the past 10 months
than in the preceding three years Immense improve
have been made in the southern part on Elza9et
lately That region was transformed last Fall az II by
enchantment, from apparent swamp 70 west hln'
,n@nt lag sidewalks gas water &C.. and then built up
with mansions valued at from $4,000 down. million
tyye per cent of these buildings have been already sold
Since 1865 Planted has grown wonderfully Many me
mdng, have been lately erected. but they were mostly
but for the use OF the owners. Another new town that
may be mentioned is New Rosele Many houses nave
been built there 1t may be said, In general way that
owners in that region very independent Inc dhl
times in the city cause great demand Tor lust suea
roOmy comparatively cheap houses as they nave there,
and they know it, The prices Of unfinished Jersey
dwellings vary from 81 800 year To $780, Win very
active demand the latter Furnished houses rent at
from 500 a month to Sl25.
TRUSTWORTHY TESTIMONY
Perhaps the thorough Information on the generaI
subiect of rents of houses in this vicinity obtained
from veteran auctoneer one of the old guard Of New
York merchants He entered heartily upon the consd
Grafton of this many question: and seemed able TO
view it In all its aspects lie said as to sale OF houses,
that there plenty money ready to be invested IN seh
nronery but that il capitalists bought much this Spring.
Il would be rather they tired OF letting Their
nancy lie idle than because they are sure that rea,
estate has touched bottom. There is he added, good