New-York tribune., 1872-02-29
THE RENT QUESTION.
PROSPECTS OF LANDLORDS AND TENANTS
FOR 1872.


NEUTRALITY-SUSPICIOUS. FIRM IN BROOKLYN
RENTS IN JERSEY CITY
The month of February possesses great
interest for landlords and tenants, 1t is then that
Argsnns begin to be made for the ensuing year. and
the important question is raised whether rents
are 10 be higher lower than before. The
high rates which have prevailed for several years
have done much TO drive population from New-York
the neighboring oties and rural districts. There
thousands Of business and employees of moderate
incomes who are greatly disconnected in this way, and
who would gladly return 20 the city If they could obtain
respectable quarters at living prices. During the
when profits large, and nearly every max.
ing money prices advanced to high figures and In
could be paid with ease. Since then, while profits
have decreased. and salaries and incomes of all kinds
have been diminished the reduction In rents has not
been proportonate, and many, who were able to
pay high prices Obliged to curtail their style OF
living and seek for less expensive homes Datural no
suit has been gradual decline in prices during the past
two years with the prospect of continuance the pres
ent year Small houses, in desirable localities, are much
sought after difficult find while the more expen
sve cannot be rented for more than from SIX
TO seven per Of their vaue frequently for much
less.
The market has not yet opened sufficiently to furnish
test hut it is safe say that except in very
choice localities there is possibility Of any general
increase in prices. Between Fourth and sxth-aves.,
from Fourteenth 10 Fifethsts, the demand is great
and prices are firm. Between Fourteenth and Twenty.
sscondts fourstOry dwelling, full size, with modern
improvements is worth from 5000 TO $780, This does
refer the buildings the avenues. From Twen-
tysecODd Fftiehst the price for the same ranges
from $4,000 to 5000, according to location A modern
dwelling 20 feet front will bring from $4,000 to 5000
On stuyvesantsquare not unfurnished house to
let and only bill for furnished house appears on
the whole square. The neighborhoOd has not
changed. and rents remain the same as last year On
IIn{x,a xyD1o
private residences turning Into stores very generally
snd leases find ready takers at from $1,000 to SSOO0
large fOursory house. the side of Unionsquare
rented last week for S15OO0 At present there
business location on Broadway. between Fourteenth
and Thirty SfOurth-ss. for sale at marketable price.
This in consequence Of the uptown tendency of many
branches Of retail business which also affects the value
of property ON adjoining streets In Cintonplace and
washingtOn-place an ordinary dwelling rents from
1880 10 5000. In St. Mark space houses worth s25 900
rent for 3, 800.
Outside the central and desirable locations rents
have downward tendency. and persons wishing live
In the city at rents will find this good year for
doing by going north Of either east
Of Fourth OF Sixthaves The for this Is
that many dwellng-houses built In these localities are
lust slow Of sale, and builders prefer taking low
rents to selling at present prices The reduction in these
outside situatOns rs estimated by real estate
st from 10 to Is per cent An ordinary 2oo house east
resting $4,000 $4,000, lets for only $lOO. three
story and basement house in East F1ftythrds finely
arranged let last week for 81 000 The house
last year brought 81 100 and In 1862 400 threestory
and basement brown-stone house in Ffty-sixth-st
near FOurth-sve.. with all modern improvements,
posting $4,000, rents for $500. On Lexington
ave.. hcuses that sell for $4,000 rent for 1880.
East of Thirdave. below entythrd-st. good houses
command about & 500 On the west ade, above Thirty
sghthst prices somewhat higher than the east.
but similar tendency 10 decrease is felt One
assigned for this general reduction is that boarding house
keepers unable obtain prices Of past years and
find themselves unable TO pay their rents The number
such great that decline rents becomes
inevitable. HOuseOwners are Of course reluctant TO
the demand for reduction, because they now
In securing only small interest the cost
Of their dwellings. Lots high in all
desirable portions OF the city that it is next to i'm
possible any dwelling house which will pay per
sent interest. For instance, house i'll Madisonave.,
near Thrtieths held at s5OOO cannot be rented for
more than 500. The remedy for this will probably be
found in adopting the popular plan OF French fats"
built by PaIan Stevens and by Mr. Stuyve
sant The demand for such accommodations is very
great the profits of the system immense. Those
already built designed for wealthy class Of occu
pants there IL great need Of similar buildings for
persons of moderate incomes In London and Paris the
npper stories Of frequently used as lodgings
FOR clerks their families and the same plan might be
introduced on Broadway TO advantage In many of the
large stores the upper floors used lumber rooms
and the clerks obliged leave the city, Notwithstanding
he fact that the oldest families Of the city lived on
he same spots in far less elegant buildings
AS general thing rents in tenement-houses have De
cllncd about per cent Three houses on West TWENTY
dT ss &c. con Thsn ysar az This his Is PROBABLY an
.epOnal case In East Thrtysixthst and East Fifty
oo rented for $500 Where landlords have been liberal
in their views and made reductions to meet the times,
.ucb REDUCTIONS can be made and the landlords still
good interest is fair TO say that the cost Of an
dx.-a fpDp1
10 per cent of which may be considered good return
N BROOKLYN
Brokyn real estate agents that ia too soon yet
20 speak very decidedly concerning the rent prospects OF
shat city All agree, however, that there Is no chance
for any a. Of prices on the Hights.
leadu agent says that the property he has for sale
Ia only in Jew cases registered lower than 1t was last
year Thcr apparent but not real lowering both
of selling and rents where owners, having been
holding property fancy rates have concluded TO state
,nIy the minimum rates fall in store rents Is prob
abe a, there are pretentious stores than can be
nsA A. there ia no building in progress the Hghts
renters Gan have no hope Of reduced rents there
count Of surplus OF unstable new houses. Prices Will
certainly firm in that quarter at from $1,000 10 $500
On the "FiIl-the region bounded by Grand, Atlantic
Portland aud Myrte-ayes-3stOry brown-stOne houses
are rn at from 900 81 500 There is considerable
building IN progress in that REGION but no prospect OF
rents being much affected thereby Two years ago rents
NJ Brooklyn houses down more universally and
thoroughly than they have in any other place around
Kew-York since the Having apparently touched
bottom thon they have been gradually stihening since
This Ia seen In the fact that there were not so many
hou,es empty in Brooklyn last as In the year be-
fore Many tenants the Ill.," however, are clam
orors for lower rents and insist that they must come
down.
In the Cn1ter Wards--the Ninth and Twenty -hrst-a
large number Of frame houses are building or nave
been finished within the year. As 1t ia not likely they
~ 81, he sold prjees of that sort OF houses, rent.