New-York tribune., 1876-03-25
NETWORK RENTS.
TENANTS APPEALS AND LANDLORDS CON
CESSlnNS


STORE RENIs IN CERTAIN QUARTERs-RATEs
MAINTAINED IN THE MOST DESIRABLE PARTS OF
IuE CITy-yARiAIIoNs IN THE RENTS OF DIP
FERENT CLASSES OF RESIDENCES.
II has been thought for six months past that
adecne in store and must take place this
spring-and for obvious The old prices were
based valuations of real estate money at interest ana
labor which have much precia;ed in the past thrce
years; the income most people has been more or less
impared economy TO which have been sacrificed the del
cace OF table the luXures OF the wardrobe ana the
extrayagances OF external display has reached dweli
ings places OF business and the demand Tor stores
and houses kept full pace with the supply Very
many persons have been able TO keep up confirmed
manner OF living, only at pinch. 1t Is only natural
that tenants should ask land Ords to divide tire unpeas
ant effects of pinch An appeal for decrease OF rent
has therefore been general. Tenants have eHosimaed
landlords have usually held on with firm grasp or the
sake OF effect tenants in countless Instances have said
fatly that they should when their lease expired
rents lowered and the result has been that
rents from 10 TO 25 per cent lower than hey
this time year ago. AZ trustworthy example
of this noted that the Astor est ate rentals have been
reduced almost uniformly 10 cent and III some 10
caties more than 10 per cent. But other instances
could be cited o. advance Of 10 per cent Inc New"
York landlord is careful to make the most OF advantages
locality and surroundings ana tenants who nave been
well satisfied with their quarters, find II Is sad' um
Guilty in suiting themselves as Wen eIse"here
for less money tnan they have been paying
runors OF decrease Notwithstanding. The great
est reductions have been made In very
high priced and furnished houses. so that to the great
body OF tenants the decline appears larger i'll theory
than in practice. As rule, landlords are making a
slight reduction desirable tenans but only after try
ipg the virtue OF the pacard to let for two or three
weeks. These pl9cards may be seen especiaiy OH
boarding ia may respectable and even iash"oie
parts of the city The boarding house business in choice
places such as those 30 deiing Gramercy PARK, on
.udou sid the quarter or the
city between Fourteenth and 1hirethsts. and between
sixth and eYingon-aves has been In most instances
Improbable during the past Autumn ana WINTER re"
houses have ul aud has been ppOspieto secure
prices which would pay for $1,000 SioOo or Soooo
house Many boarding houses are closing ana 'he grow"
ing custom receiving one, two and four persons mic
private families accounts for the lack of patronage
Rents in New-Y York City have been fixed almost arbtra
ry for the past In lsG1 and 1867 me mouse
on Fifth-ave. just below Twenty-thirdst could he OBJ
tanned for 900 per which in 1866 suddenly ad
vanced 10 81 900 Rents in favorable localities ad
vanced In a corresponding degree. However exorbltaht
the houses and stores appears 10 be- rea
estate and agents that with the tax valuation
set property and high rate OF taxes 1t is Impossible 10
realize than six per cent on tue original investment
Moreover, q valuable piece OF improved proper!
does not need to remain tenantcss long "a DE
swallowed mp by the tax collector. reacuon
in pubc taste concerning suburban residences has nap
pened at good for the landlords of the CITY, lhe
return Of families from NewJersey who joined IN the
exodus Of 1864 has served to keep the demand
for houses from declining rapidly The part hat rents
play in the household economy of the inhabitants OF s
city Is OF first Importance Laborers and ordinary inc
chancs invest average oneourt oi their earnings
IN shelter. Skilled mechanics and secondeiass uades
eope nav their landlord third Of their yearly expendi-
lures and 1t believed that the upper stratum OF the
middle classes and the upper classes set aside fuiy nan
of their income yearly allowance for tie comfort ana
dignity Of brOwnstone front OF TIE atmosphere oi
fashionable part of the city.
FALLING STORE RENTS.
The depreciaton of rentals has been between 10
and so per cent latter exceptional ratio OF decrease
being confined to few places from which trade mas
been suddenly diverted The rents OF stores oces ana
warehouses below City Hall Park have not greatly
diminished within the past year West OF Broadway and
below Canal st. many old tenants have secured a small
abatement, but reduction could hardly DC obtained On
especially favored and Is REGARDED with serious &
the merchants i%poTMtes M ana JosoeT m osn aud settled
In Mercer Greene, and Graudss: above Canai-sI ~ Is
aid that the thousands expended in fine mercantile
houses in Il ose streets have proved an excellent
investment and rents are rated from 80 TO AZ per cent
lower than two years ago There IS desre On the hat
OF some business houses to return TO the od locality
Srand and Eshh-sts that By the laws Of city travel
misses the erosstown traffic and sees the Bloadway
Old retail trade OF q,rter has almost disappeared
the locality no, preferred by The looDeIs hess
cancy Some which rented for $1,000 three ana
Fr,m Eish1Ist to Unons IGaTe stores In good de
isnd tue retail trade continuing brisk Tie
S decline IN has .vo NO! Years been The CHS BoadWay property
between Union anu Madison squares, is as prohtable
Profitable 10 the owners than before Reductions
In rent have been few and slight The same cannot De
said Of the Broadway sores above Maaisoh @squano, @
Loagh the RrSps Seo% Fnrict mn town. store
rents have declined 10 20 ceut The most desI
ae stores side streets and the avenues nave psen
tKen ON new general thing al rates from 10
10 IS per cent below Ia prices OF 1873 The rents OF
lse fsyoraby situated store. have been reduced 'ha
RATES FOR UPTOWN DWELLINGS,.
Mos. OF the residences Firth and Madsonaves are
owned by he occupants The few houses on f1itaye.
offered TO tenants, rule can be obtained ior nom ~
a. 30 per cent below tie last ruling prlces But Inc
circumstances Of surroundings make marked difference
four-story residence which las rented Tor SooV nas
been 0erei for 900; IS 600 Tont has been offered IVf
another 90 residence and been refused UeleIaiy
sveaking 900 viii house that last year biOS4t
IN S,pIu uOuses on MtdSJn-a winch IN 1917
rented 81 900, in some Instances can De Obtained ioT
5000 few nIaratlyeIy plain residences on Maai-
have declined from 20 10 80 pr cent since lSa5 Hand
ciaied IN rrniai value from 80 to 80 per cent.
fIouses on LeAius :Oh-aye below Fi!ty-nnth-st may
10 leased for from Sl,2oo 70 sz,UVo s;Do si%%G %e1
10 $500 Above slXtethsl. on tho SAM
yeuue houses equal IL aipea aDee and 10
fe oriuay FiItlave. house Can DC Tecd iOf S3OO OI
81 5oo F1r 81. 400 obtained u house Oi eleven
rooin iocA.ity as LeAnst ana lLiIty st
,e,entii-s,. aud LeXiEst nave ior $1,000, LOu-e {"
4 re- stories in West Twenty-slxtLs, near BfOda~ay
fo. 800, thrcestOTy house III lwohIy nfsst near
q. l,id ~ on i $1,000, Shic will rent I0u-
so.y hi..-sVoOp bTOwH-stOnt nOlse III 'ist o1
s., ri ta-iye, OF NJ 10 $1,000 i SoVVo %nvi , WI,
conn ami the best situated and Dnest fehtaois
rcSdc.ccs ln iic ely -,.....
trr.c l.s aIe I1Icn sought after by families without
fhe ans a wHUs mouse, Dat WAC desire
c.o,> s.,uatou fashionable neisAborhood ihey axe
now 10 be round al ariy AL of the avenues ana yy ~
raes from $50 10 $50 per month deeoios W
l.cat.Dn nOO1 TCntCd Last season lhc i".uS