New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-23

There il little market for furnished houscs people
will not pay fancy prices for the Use Of fine furniture
The number Of these h0nses Is rapidly diminishing.
mainly for Owners are beginning 10 real
ne that the investment not profitable. and furniture
is so cheap that nearly every prefers to ft npa
house to suit Houses that would bring from
81 zoo 81 500 muruished,w rent for only $500
more year when completely furnished. OF course
sach pr ees wolnee no Interest on me money Invested
whea the and tear or furniture are considered.
III" most desirable portion 81 Tie city Tor private resi-
,anrs Is comprised between Thriyonrtn-rt. aud Cen
ral Park and betwecn sixth aG Lrxihston,aves Along
Iifavc houses rent FOR prices nearest teif Eas YET
here the oldtimc rents cannot he Obtained even
Tor nue. Drown sohc rcsdcle'e' fnl unTe pli. oI
other materials which SHOW moc painy the Traces OF
| ronateB lower Most of the transactions III
| tifih-ave. property have been sales OF rest
| IN the present condition OF the Market urIch more
cheapy Than tnsy can bnid Prices OF nil uptown fesi-
dcuc property have fallen OF fully 40 per during
rbeansr Thin II is to-day md large number of bnycrs
be waking 10 this fact. Cash sales the
rue. paying tn" full amount on receipt OF the
decd Dealers unanimous IN declaring that tins IL all
keeps the real estate market from utter pIosra ton
Mary tine apartment houses have been bnili during
ycr in Fi,tn-sye. and adjacent streets. Thee have
drawn Ct! many tenants who formerly occupied entire
houses. Along Ffrhtvc., fats In these houses are
sought eagerly For suites ~ ROOMS on the first no1rs
from 81 100 500 is paid, while the top dpors
iupna from $500 $1,000. From sos to fps is the
monthly rental for apartments on thc most desirable
o1.s c prices varying according to ocation ANA nnh
of the apartments These are about the price, OF sa
houses bli many prefer Single slle IN me Iiat on
the avenue. 10 az entire house. 'llcy ana "a tlc Old
fashioned.
have baen put Mp with razng rslndity on
many cross-stIcets uptown during the year These
decline slightly, but, as nie rates stu continue
firm mainly because Oi the comp ra.ye novelty AZ THIS
families 10 try economy in this seductive fashion. Deal
ers declare that tine business III French t'tS Is being
town rent $50 So month and few remain
This has given an undue stimulus I" building
eyi abe tendency vii be- i The rage for building
unues. slut the market inen man, OF The hoi,es,-
NIL
into thc hands OF poorer class OF people whom Inc
present hgn prices compel 10 live in tenement houses
fn tncr downtown When prices these nats once be-
n TO al it will be dle to aten TO restore tnSn Inc
aud worthy class OF people will secure better homes
LARGE HOUSES IN REorEsT.
There Is a strong demand for large hOuses;or board
ng aud lcttn: rooms-belween Twentieth and Thirty
roulth.,, For houses which offer peculiar advantages
in tue way of large number OF light, airy rooms. the
falling of III price is material. In fact dealer who
very eyyblsiness that department ofIeal estate
Transactions says TIL. year there is smaller num-
bcr Of these houses in market flan usua sill il is yet
too early make definite calculations. ~ msny
tenants wayerng over the question ~ removal,
aud sisn concession from landlords Nil bc sufficient
To retain them for another year. IN The part
OF the city referred TO- there IRE many sales for in
ycstmeut, esp cia ~ Of lOwpced houses. ul the cx-
elusive character OF This quarter place tor e resi-
dcnces has departed. Trade L. gradually creeping mp
FtaVe. fron Twcntytth ST. First come TIE jewellers
mllliners: then the arr galleries ana IN thcig
tram follow furs. furnishing goods dry goods aud
promiscs within a very few years. to be the
centre uplown--a counterpart OF the
Unon-sq are to-day. While rCns On BroasNay above
Fnnrleentus remain Substantially unchi StdEe noois
over them which are used inr residences nave suffered
marked reduction IA rentals The sisine II also cnc,
though Il lesser degree, o. SiNtlavc. store rents ON
that avenue. however, aIc lIncr than III amy oincr
street in the cuy. The prospect OF the speedy compile
ton the Gilbert Elr sa:ed Road seems 10 have mad no
tendency 10 advance prices or STIMULATE spcctInn hut
t mas gwen confidence 10 OwneTs aud prevented any
decline in rents or prices of property Mmn sales have
been made there during the at year, an &, Thought
that the open OF the road Will bc tIS sigma. Tor si
ernl advance IN prices.
Below Fonitccnthst residence property u l0sins III
value from year year; fino old man,ions are nsng
into squalid tenemcnt-honses; on the man avenues oi
trade retail stores being swallowed ~ by large
wholesale establishments Below foirI'c1ti-'i. ichiS
OF residence property Ia many places, lave dcnrc"ate"
80 per cent IN TIE last i've yeait Inc character o. en-
streets has been changed Vacant hon,th aic no1
more than elsewhere. 't the barriers be
tween strictly private residences ana os.s
been beaten down. Many Old residents SIM niger,
especially about Washing t0u-qunt, bat ttc greater
portion OF tie once fashionable sIee1s -h'h oyts 70
boarding-hOuses, Hats and ieHcncn house. On me
Side the reduction ns been greater dnsiuG he last
per cent. Stores Broadway, below bni"l-sqditf,
rent With officially For retail bnuihess ths ror-
lion OF tle great highway of traffic h growing more u
desirable every year As orc dealer sud; man i
way below Four;cdntist. ii he Is already - hbrhc'
aud mas good class cus,onrs. liz may Keep MS head
above water; BAL II II. strikes oil i'is III H'S "'''
he is sure go under"
SIGNS OF IMPROVEMENT.
The reasons this depression tie real estate marlc;
are the same old which tbc changes lave been
rung several the general duincss o. business,
exorbitanI unsatisfactory valuation uf property,
and unclean Dealers disagree on Iany nig"r
details OF their business. but they all uiac In declaring
these TO the OF the great ec.nc ia prices,
aud the unremuneraiye character Of E,lcb CITY p D.
erty The greater number sanfrme Of better days
many believe they have already coIs' Ih"y So,
IN the growing condolences OF buyers, III Tie Increase.
salesnot for speculation but Tor
of long season OF prosperity Tiid caitaists hitNe
withdrawn money from banks and stocas ANA placed u
real estate believing that In suite ot excessive taA-
ton, II still offers the hos. and s,Fcst maas o inNcs
Dealers say that prices have new icaeina point
below which they cannot fail. An huNanc" must SOFA
The promise OF iiad trnsit-tLe outward aud
visible Signs " which bestrlue Third and Sxit-aycr-
has already given impetus to Harlem property aidn
thought by who te best neahs III nioiul-
ton thai the eject viii Iollow sli along TIE luce VI