The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-04-18
JUST BEFORE MOvIx0 DAY
Tenants More Than Usually Able TO Dictate
Terms-A Glance at Prices.


The outlook for owners of city real estate
ls not encouraging for the coming LIST Of May.
For the first time in many years. tenants are
generally masters OF the situation. and are OBJ
aiming great concessions. Owners complain
that. with heavy taxes. mortgagcd property is n
constant source Of trouble and loss. The result
II a great number Of foreclosure sales. and
mortgages on property that has hitherto been
,cld FREQ. The Il ny estate. for the first time in
IA history has been mOrti,ngrd this spring
This property is bounded by Houston. Bleeck-
n. and Sullivan streets and Coitdge place
There Ia scarcely u house in HIreckcr street
without bill on it. while hundreds Of what are
tcrmed cheap houses in tia" sid" streets. .s" 10
let. From Bceckcr To Twpnty-third street there
II an average OF four houses to let on every
block in the cross streets. aud rents have fallen
this season from ten to iuriy n-r c;nt.. ~ rom-
pared with thu iitur"S of 1877. In Wnny in
Ftnncrs real sacrifices have hecn made For
instance: woman living in West Twelfth
street. vino hnd for several years plid ~ 200.
gave the owner motto" that size would move on
HE lat Of Nav on account oi inability to pay tho
rent. lie asked how much she was wi ng and
able to pay. She suid 500 year. The land
lord was indignant and wont AWAY; but nftcr
his tennnt had taken M cnrpots and begun to
pack. he decided to- take 5000 rather than risk
his house standing empty.
The A-tprS nave nude important reductions
in certain parts OF tho citv. The Nineteenth
Street property has been affected hy the ecvat-
or To let One ul tho houses on THIS street now
bringing 80 100 yoar. has been l'l from May
next ~ S2.OuD. The orret ol the elevated rail-
road seems 10 be 10 in'rcas" the value oil poor
prnprTiy and inlurr Nr-t-,la-s hou-rs. The
rpad has not lrd uptown property owners to
Increase rents: they .oulv hope that when 4 is
completed. it will enable them to rent at present
prices houses and apartments that have long
stood empty. sixth avenue from Thirty-iourth
succession Of FIR nch flats. When man can
do nothing profitable with his property in this
city. advice comes from every quarter to turn
u into Hats" and the result II hundreds Of
these apartment houses in every part OF the
city. tenanted and Il large number in course of
constru non. Tho prices oi Hats have boon gen
orally reduced this year, owing 70 the increased
number; Ilandsome. suites on West Forty-sec-
ond and Thrty-sNth and Fourteenth streets
can be hired at $40 to SIS per month. which n
year ago would have bee n taken readily at 500.
in Eighth avenue prices range from s15 to sjj
for ilatA of seven rooms in very handsome and
well appointed houses. Above lorty-second
street prices are about ten per cent. less.
On the east side comparatively few French
fiat houses have been recently erected. Several
Immense ones near Union square are finished
halls and look like big hotels Their rates are
high. the top floor being let usually for 81 200 a
year.
Broadway property. from Canal to Ninth
street. has been gradually decreasing in value
Tor the past five years. The retail trade has
been moving northward. and the wholesale
business has not reached rs far up. Between
Houston and Breckcr there are eleven stores
10 let. Three of these, however. have been un-
occupied Tor the last fourteen years. They are
said 10 be owned by nephew Of the late Napo-
Icon, and he does not care whether they are let.
The average number of stores without tenants
IN Broadway between Canal and Tenth streets,
j. our to the block. and of lofts seven. The old
Apprentices Library. and where in times gone
by Christys Mnstrels had hall. is now in
course OF demolition. and stores will be erected
on the site.
Below Canal street there are few stores TO let
and those in the side streets are held at in
creased rates in many cases. The millinery,
feather. and Iohhing houses are gradually con-
N az rob
streets; the paper dealers are monopoizng
Duane. and the hardware dealers are getting IN
Chambers. Park place Is fast becoming n pub
fishing centre. Nearly all inc weekly papers
are to be found there Frank Lcsh' Joins the
party on May |. Business offices down town
can he found vacant 10y the hundred. and rents
nrr low In many flrst-class buildings Offices
have been empty since 1874. An instance Of
the decline may be given in connection with
1874 WIS let for s. 900. after standing vacant
three years was let last month for a.. 600.