The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-02
REAL ESTATE INTERESTS
0wnerSO Of High Priced Stores and Dwell
ings Lowering the Rents.
DEMAND FOR SMALL HOUSES
City Tax Debtors Asking the Remission Of
Heavy Interest.

Tho relation OF landlord and tenant is one that under
rocs an annual discussion and the disagreements as
Neil as agreements between the two begin on the LIST
H February and last up to the lst Of May, ny when
lime basis settlement is reached and the DISCUSSION
,ubsides The following general statement shows the
rental value classes OF property as compared with
This time last year. and makes comparison between
the number OF houses in the market for rent now and
then. The Information is based on interviews with
number OF the largest and most reliable real estate
agents throughout the city.
sroRE PROPERTY.
The of this class property in the market is
loosely about twenty five per cent
pared with last year. and the in rental values
about the same, but tho latter greatly with
ME location and value OF the property The increased
number of stores offered for rent caused by the dill
erences between owners and lessees, most OF which
terminate IN compromise leaving the property IN tho
meantime but nominay in the market The range Of
HE decreased rental ID wide one, varying from
twenty 10 high sixty per cent. In the lower
part of Broadway the falling of is small as II Is also
Above the ncghborhood OF Tenth street. Tho locality
iuerng the greatest depression lies between Broome
and Tenth street. where tho nature OF the busi
ness done is state Of transition 1t is generally
considered be far up for jobbing and Wholesale
houses and down for retail THIS condi-
ton OF things is evidenced the number Of
buildings rent In that neighborhood. There Is an
Increased demand for middle stores, caused by
merchants seeking under the general depression Of
business economic in their rents THIS Is also the
sasc along the uptown business avenues and conse-
lucntiy the falling on on large amt high priced stores
Is proporuonatey much larger than IN the middle and
smaller classes
PROPERTY.
The printed circulars OF agents who deal principally
In tins class OF property show an increase OF from
hftcen 10 twenty hve per cont IN the number IN the
market tor reut compared with last year. Very
htile busness has been done during February and
March, the owners and tenants have been slower
lng average reduction oil about fifteen per
cent, while the latter are waiting Tor further de-
rease large number or houses OF this class also
sut Dominally in the market, awaiting compromise
between landlord and tenant As IN the case Of store
property the greater demand Is Tor the middle class VI
dwellings,, which sought for by families who have
heretofore paid high for tine, large houses, but
Who forced by the sringency OF the times TO
sGrtaI! their household expenses This tendency OF
lhe community, both in business and social lifc is
which the surcst road out OF nnancia difficulty
Houses renting nj from 81, 200 10 81 900 per aInum
chow the smallest decrease OF rent, varying from ten
10 fifteen por cent From So 600 per annum upward
tho scale OF decrease grows larger ami larger
TENEMENT HOUSE PROPERTY.
The demand and supply OF this class VI property vary
but little, the former beng generally III excess The
prices affected much by tins condition, how
rver a the class who occupy the tenemcnts cannot
Afford TO enter INTO compcttun but crowd themselves
into less close quarters according TO their CIR
runstanccs. The reduction OF rents among these
houses probably smaller than any other descrip
lior OF real estate. Filled as they are with large
number of tenants, production OF u dollar two
out amouns 10 but little when deducted from the
aggregate rental