The New York herald., 1878-02-26
RENTS UP AND DOWN TOWN.

TENANTS MASTERS OF THE sIrUATIoN-A NET
AMoRPHosrs IN THE DRY GOODS DISTRICT.
1--WE should be writing leases now instead OF an
swering inquiries said prominent real estate agent
70 the HERALD reporter yesterday Then. restraining
himself from being too communicative, he said, "Of
course we are always busy, out 1t not the KIND OF
business we are after at this Of the year ID
dfncult 10 tell how matters will 60, but, judging oy
experience think that tenants havo Il all their own
way. OF the landlords will acccde their
propositions, but we constantly advise them 10 give
In rather than lose good tenant People who rented
81, 900 house last year offer 81 900 and think
they will get II; but they mistaken we'll as the
landlord who insists upon making only slight con-
cession There are any number oil houses 10 let and
bu. very few takers at last years prices. In fact
people cannot pay the OF last year and Of the
previous years. They do not make the profits, and
hence insist upon q curIaimept OF expenses" THIS
was the sentiment OF not but Of several leading
real estate agents In Pine street.
prominent uptown real estate agent said There
was more trade in 1868 than there is to-day along
Eighth avenue. Business Is bad, and there exists
reason why rents should not 60 lower We tell our
owners day after day. True. great many OF the
old tenants willing to their leases at OLD
pricesthat Is to say. at last years proes-but
do so only In the interest OF the owner as
has failed. Houses which command moderate rents
arc fair demand 1t is difficult to-day TO coll
iect 81, 500 rent Eighth Sixth avenue store
than II ten years ago, whom the stores
rented tor ST. 900 and $500. The tenants are max
ing money and II IS all looiishness Tor landlords to
shut their eyes 10 this fact +"
ANTICIPATING MAY l.
The wholesale dry goods section OF New York, being
considered always the dislrlc where tho best rents
paid has during The present year entered upon
Innovation which bids lar 10 be initiated by o,her in
terests, which deciue TO be bound any longer by the
despotc rule oil the May moving dny. The first OF
May always the very busiest period OF the spring
trade aud desire then felt 10 disturb the bus,
ness arrangements OF the lines of dry goods
Hence, with almost UNANIMOUS CONSENT whatever
MOVING Is take place during the year IL atte hded to
during Fobruary. rhe rates governing the stores
that dstrct therefore be quoted with authority
now, most OF the new leases have been signed ana
In many instances moving day IS matter oi the
past for several business houses with last
year all rents even IN the dry goods district or
Worth, Thomas. FRANKLIN, Leonard. Churcn and Wnie
streets, are from ten TO fifteen per cent on What IS,
however, equally remarkable along with tho steady
decline Of rents SO lar as covers ts whole DISTRICT
peculiar characteristic OF this year's moving Is the
that speciaties in certain lines OF the dry goods
trade crowd Que another in particular localities more
than ever Franklin street, Tor instance, has become
q linen street. White street Is now the centre for the
wholesale trade In ladies' underwear and suits.
Wholesale clothing mon have gone above Canal street
along Broadway Worth street has mol declined much
In rents II Continues 10 be the wholesale street Tor
dry goods commission business, and almost all OF
tho com III men Lhcre have their leases
either al the old asuros or ~ sight dec.ine. The
streets OF Broadway have greatly improved this
year productive rents, especially Worth street
which has too become the centre Of the carpet trade
Thomas street has held its own pretty WE'LL Rents IN
Duane street, however, lower, Whatever dry goods
business there used to be in. that street has been
moved fQrher up, ana the dealers IN shoes work.
Ing themselves IN there TO the detriment OF Warren
street ln Reade street nearly all the leases have
been renewed last years prices. Rents or
sderaby in Chambers street. and the hardware trade
centrng lhcre IL dong badly In all Sne streets be-
low Chambers street rents are lower with the excep
lion OF Barclay street, which has become q great
centre for Catholic publications and various other
book houses ull OF which tends 10 keep up rents All
The streets IRON Chambers Barclay present stores
to-day tor which q rental fifteen to twenty per cent
lower than last year is being paid. The humorous
failures the six months have had depressing
onect upon The rent market In that section Of The
CiIv.