The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-27

surprised upon being informed there we're lew
houses ut reasonable prices IN the market
SIXTH AVENUE THE PAvoRlrg.
Mr.. Thomas Patten, the manager OF the Rhine
lander estate said DIVE have had several appca-
tons from strangers TOR stores along sixth ave.
nue-a good many from furpture men. lp fact, we
than IN any other part OF the city, and you are
aware our property Is pretty well scattered through
out the city. None OF our tenants, most OF whom
pay their rents quarterly, snow any disposition 10
leave Ii renis shrink at all II will be caused by tho
tendency OF the times aud not by the rapid tranrlt
along will inIsiiy tho history OF all railroads OF
course, most real estate men think that aG under
ground road would have been better but rapid transit
IN any shape will beneht trade. Take Greenwich
street, for instance, where most Of the Rniueander
rents as along Broadway, Notwithstanding fact
that there real objection 10 the manner IN which the
road Is built there We own four entire blocks IN that
vicinity. Last year there VAS decline oil ton per
cent Oh previous years. prices. but this year rents
there Will hod thelr own We knew that the Gilbert
road was coming along sixth avenue and yet We built
u large store ON the northwest corner OF that avenue
and Thirteenth street at an expense OF over $4,000
This building, which fronts tity-iour feet ON the ave-
nue. ana ninety on the street, Is hardly finished aud
We have already several applications Tor II a. prices
showing a fair return on the Investment Though
will be slow Ia the market, owing 10
the TACT that both landlord and tenap fnd II diicu
to draw the exact line, they are nevertheless not SO
wide apart they were last year ana already
closer together. Though was at first opposed 10 the
plan OF tho Gilbert road, must acknowledge that am
rather pleased now with tho appearances OF the sruc-
ture."
NOT 80 ANXIOUS TO LEAVE
tanned yesterday that NJ Hazard, the druggist had
renewed the lease OF his branch establishment at The
corner vi Tnrtyninth street anu sixth avenue Tor
term OF years, anu that jewery Store near fwenty-
second street had been leased Tor S3,2OU IL was
feared, however that the carriage lralc OF the ave-
nue. would DO considerably lnterered with whenever
the trans commence runnlGg and that the stores
depending upon support from customers who do their
shopping IN carriages would suler more or less from
the innovation. the largest establishments were,
however, wiling TO undergo tho experiment,
ono or two OF them having offered large
sums TO the Gilbert road 10 erect plat
forms connecting win their second stories, so
as 10 enable passengers to mako their purchases with
out descend to the street. AT the olce OF +. H.
Ludlow II was stated that TO many OF tho grum0lpg
proper!y owners propositions 70 sou oul haa oo.n
ofcr they preferred, IN almost every instance, 10
see what the elect would be and hesitated about
parting with whatever property they possessed al
oven reasonable rates.
AUTHENTIC GylDR TO RENTS.
Tue Astor and Loriard rents beng always con-
suereu guide the general rent market, was asce
trustworthy sources that there would bc
TINS year further decline III the rents Of dwelling
property but that iurlner concession OF about Ten
per cent would be made on all business property, es
psc,ly on broadway stores; pur'ns Tue pas! Two Two
been from twenty TO thirty per cent ON
previous rates Here large number OF houses belong
" the Aston estate, which declines to make any
further reduction on mat property this year. the
decline rents on Broadway stores has been during
the same pcnod from thirty 10 forty per cent aud
with addition OIL another ten per cent, this year,
made IN obeaience 10 the demands OF The times, has
sderaby reduced the income of that vast estate
General compliant made by landlords that IOtwitu
Standing the decline IN rents last year, with no pros
spocts Of rise anywhere, tha Tax Commissioners
have TINS year increased the taxation on skin aud
Eighth avenue property
Tue .orllards, who have property nearly all the
downtown Streets as lar up and even above Greene
street, MAINTAIN that there IS class OF tenants who
have not done much business for years past; that
such hardly IN these times AFFORD 10 pay any
rent al all but solvent business men una that their
trade has been better III 1877 than IN 1876; hence
they arc wiling 10 continue Their business In the
same location, even al some slight Increase The
Wholesale trade, which has been on tho SIDE streets
Tor number oil years, shows once moro II ten
dency 10 concentrate along broadway, around
Canal street, and III that particular locality there
Is just now no decbne--rather slight increase
over last years. prices. They were negotiating all the
time tor the letting oil business property all over the
CITY. Wherever tue elevated railway passed their
property especially IN narrow sreeis, their expert
,nce had boon that its value had deprecntea fully
twenty-five per cent. Even Ia south Flith avenue,
wide street, where tney mad erected last year row OF
they experienced considerable difficulty In
renting Tor certain lines OF business some loads
vi nandiso were necessarily hgn and could not
pass under the arches OF the eevated road hence
pic could conveniently transact business tnsre
acco rdancc with all It's requil ements One OF their
stores the vriniiy Ut Pearl street stood empty
owing To the oil the elevated road They
cons Tered 1t injurious 10 business property in all mar
row streets
Along Eighth avenue tents are holding their
own. Last year there break IN along TINS
avenue below Fourteenth street, but this year, not
wIthstandng the TACT that tenants arc camorug Tor
lower rents, owners are determined not 10 yield.
store on tue east side vi Eighth avenue, between
ior,y.hv. iee which rented last year Tor 81 oOO has
been disposed OF u the same rate Tor THIS year
NINTH AVENUE.
Along Ninth avenue property Is now considered
by ana agents III good condition. 1t used to
be considered sleepy, dead avenue, but Is
brig ht and cheerful Property owners Ind but little
difficulty IN collecting rents, winch Ia attributed 70 the
new lie put INTO The avenue by the Now YORK Ele
vatcd Road. The waste plot oi ground on the In
west COZ ner OF Twenty-second street aud Ninth
elegant house, aud all OF It's suits OF
nave been rented even before The building Is nfsned.
prominent real estate agent TOLD the writer that tho
prejudice against tue E,evated Road WAS almost
urey gone ana that while rents are apt TO decline IN
all sections more remote from the centre OF tue
Ninth avenue had recovered IRON The staguation
OF Two years ago. In iact. residences in me sue
streets adjacent 10 the Elevated Railway stations
were quite demand.
THIRD AVENUE
In Thrd avenue Icuts are considered of, duo
manly the TACT tbut the working classes are not
max ing money, and consequently storekeepers have
hard unc Ol II. Tho upper part OF ihird avenue,
above ihiryourth street, holdns itsown, with no
perccptDe decline la rents. Here again the cUnsruc-
ton vi the elevated road Is regarded by "a leading
property owner bringing an Increased population
tue streets above thirty b. and tnis iavor-
bic esut naturally has It's effect upon the avenue,
where al purchases are made ny those residing IN the
neig hborhood
Broadway and Union squire beng In u transition
lar tue future ior rohts Is concerned have
peculiarties vi their vita other streets
ana avenues OF New York. Rents vary considerably
below above Fourteenth street, the below
Fourtoentb street being Just now con sidered some
Vwcntythiru street are unanimously voted tue great
centre OF York's retail trade An expert IN real
estate called the wrltor's attention tact that
wherever there Was even surluc1 rouu, rents were
steady II act on the rise, wnic below Fourteenth
street, where there no railroad there a steady
decline Store near spring street. winch used
TO rent ivr Sl5.vO0 lew years ago, has
just been rented Tor So 600. Another sore running
back I5U iect rented Tor So 700
years ago brings 81, OJ0 Two stores under the l.
Nicholas Ho.cl, wuicn used 10 rent Tor 81 900 aud
IS, 900 are vacant The lease OF WaIlauk's
Theatre, winch expires next year, bas recently been
offered TO the proprietor VI leading west sue dry
svods store, but mat gentleman declined. Nr. Wal
lack however, not being uesirous Of relnqulshing
the lease, all parties, presumed ara satisfied Tbs
quoted Us SHOW ing the dislike OF energetic retailers
to below Union square Rcnts on Tue east side OF
Union square are stagnanL Considerable interest Is
attached Uy properly owners ia that locality the
that VIII attend tho renting ul DANIEL DTews
building on the corner OF seventeenth street and
uuion square The alterations eau 70 cost about
$lUU,U 900 ana II Is GAINED by expert tuat " the
owner gets tho rents ho ASKS estate bc
sidsrcd hlgner IN mat ncignUorhood. At The same