The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-03-23
Interesting Interviews with Real
Estate Agents.
GOODBY TO HIGH PRICES
Stores. Dwellings French Flats apartments fanihs
Houses. Real Est5h. Binding.
THE HEAVY BOULEVARD ASSESSMENTS.

property holders landlords real estate
agents. boarding house aud tenement occupants and
others parts OF the city, and furnishes tho
following as the result oil his Investigations
IL aru asloushcd see, SAID extensive prop
eriy holder q recent hearing before tho Dock Com
m,ssioners ..oid New Workers sitting supinciy down
and apparently entirely indifferent the depression
prevails all values OF property in this city
A store on broadway, for which used to receive
So 900 year rental glad 80 got 5000 Tor
IL IL 50 with other property hold Something ought
10 he done 10 revive the trade and commerce OF Tho
city or tear tho prosperity Of tho city is irrcv
ocabiy gona"
This sentiment seems pcrvade all classes Of poo
plc have property to rent while tho holders
Of dwelling houses fats apartments. &c, complain OF
. similar depression, with few rarc exceptions
EAST PROPERTY.
Oucst,on--How arc rents going? Answer-rhcy
arc extremely sluggish There plenty OF houses TO
let hut It is very difficult let them at prices do
mandcd by tho landlords don't wish TO be under
stood as saying thing prcudca the interests OF
landlords Tor am employed by them in the renting
OF their houses proper Tor me to express
my views too FULLY tor publication as II might damage
the prospect OF renting their premises at tho prices
they expect.
o. DO you think that their rents OF any description
Of dwellings, will be sustancd9 A. Yes AS far US
am judge houses OF moderate rental, say $500
10 81, $780, will still command those prices refer TO
localities anywhere from Second 10 Fourth avenue
aud from First Fifty-sixth street. We don't have
much o, anything below 5000 here. The large houses
will suffer- Even those who have paid $1,000 are in
some cases coming out and taking houses ut lower
figures.
O. How do you account for tho depression IN the
higher priced houses? A. PROFESSIONALLY tho de-
preston Of business 1t is selfcvdcnt fact that tho
higher priced tenants cannot pay their rents great
many people will promise 10 pay, but am afraid they
will lack tho
@ Suppose they do pay their rents, what then
A promptly Put them out have no sympathy with
Q class OF people who undertake to pay rents when
they know their will not enable them TO do So
QUESTION
O. In regard 70 the occupancy OF French lats-do
you find them TO BIO a valuable investment? A. Not
precisely; my experience is that people who have
cupied fats at 5000 1s0O per year Will seek other
quarters that they will finally conclude to rent full
houses at those rather than continue to occupy
tho confined limits allowed for flats even at a high
price.
O. Are they continuing TO build Oats? A. Not
many think the rents Of ats entirely too high.
They might be a If their accommodations were
equal TO those afforded by full houses in good neigh
borhoods at the same prices.
How about tenement housesY A. Incy ahe no.
where. They the worst property we have. There
are greater losses in tenement houses than In any
other kind OF rented property.
o. Do you know whether Lhcrc Is any competition
among landlords for the purpose Of renting their
houses? A. don't think there is
O. Is there any combination among them TO keep up
rents? A. No, oh no; certainly not within my know
edge
q Do the low rent people pay their rents promptly?
A. No, sir; of them prompt
O. What causes do they assign for not paying their
rents? A. That they are unable; but am satisfied
that in great many instances they could pay their
rents If they disposed; they wish to take ad
vantage OF any excuse get rid paying their rents
] know good many tenants who can and ought TO do
better; matter how low landlord rents house he
cannot raise II during the year, on the other hand the
leaves when lie plcases, ana not only that but
lcuves the landlord in the lurch Tor his rent that
my experience with great many tenants. Landlords
making three per cent on their Investments
O. Is there mucn demand Tor real estate Tor invest
mcnts A. There is no demand now. and when sale
Is elected II rs ut great reduction. But this III
great depends upon the style OF property It's
locality, &c
o. How IS It with the rents OF storcss A. They have
deprecated 10 greater extent than dwelling houses
OIL side. The reduction in the rent of stores
In First Second Third and Fourth avenues has
amounted TO about twenty per cent While the average
reduction dwelling houses, taken as whole,
amounts to about hlteon per cent.
AND ASSESSMENTS.
O. Do the CITY affect any apprcciable degree
The value of real and the rent of
dwelling houses? A. Yes and 10 a large extent. The
taxes are very real estate. We arc ire
qucntly assessed tor improvements when nothing -
Improved. have been assessed Tor property on Mad
isou and Lexington ana other localities
extent that has made my blood boil The OBJECT has
been robbery IRON the word ''go." The Corporation
Is 10 blame great measure for the efforts OF
Ihc Ian dords 70 keep up and should be held
BpoDslbe many OF the grievances the people CON-
PLAIN OF regard To high rents. The outrageous taxes
and assessments unimprovcd and reproductive
property OF real causes for complaint both
among landlords and tenants, and is prolific source
OF suits a. law for the reduction OF assessments
Tho assessments on Madison avenue have been abso-
lutey enormous. But / suppose complaints Of that
o DO you think there will be any further reduction
of between the present time and the LIST oil Mays
A. That Is what tenants expect; but l do not think
tncy will be gratined except In the bgh priced houses
] have before mentioned.
BOULEVARD REGIoS-vIEws or PROMINENT PROPERTY
HOLDER.
O. Can you furnish with any particulars
corning the valuation and rental of property in the
extending IRON Fiitynnth street to Spuytcn Duyvll
Creek, west OF Fifth avenue, and lLciudng Central
Park Riverside Park, Mornngsidc Park, ST. Nicholas
avenue, the sixth and Seventh avenues, which nave
been widcncd and made boucvards and other points
shat region In this territory the corporation oil the
city OF New York. since 1860, have purchased, taken
little deed and pledged on account Of the city
Indebtedness tie amount or $50 acres mot ots) OF
ground.
q How did the city pay for it9 a. BY assessing
upon property in the Boulevard region, whether It
benefited the lots not onc-half the expense. Tho
other hall has been paid by increased tax valuation
on the property account Of the city having made
lnc purchase, that In fact the CITY to-day hus
paid one dollar toward these grand improvemc nts.
The poor widows and orphans who have not had outside
money pay these assessments have been charged by
the city twelve per cent interest, when the ought
have been able 10 have hired money as cheap Bos-
TOM that Is not over four per cent Now there
bills before Legislature for the relief OF these dcln
nucnts One OF these bills provides tor the reduction
ei tho taxes 10 eight per cent. Why than SIMPLE
intorestscvcn per cent? The capitalists Will not invest
because they are afraid the corporation oil New York
viii make them pay for improvements against tncr
vii for the benefit OF the city without suitable cquiva-
lont There ~ no why real estate In that region
boud not be as high heretofore except the lear OF
o What about rents in this region! A. There are
mn rents on tho west side above Fity-ninth street,
veal of tho PARK worth talking about
o. what's the reasony A. In this territory IN 1901
and previously the only real substantial drive out Of
Nav York was the BloomingdaIe or kingsbrdge
road shaded with magnificent trees Between ~ ana