New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-05-02
DILL SEASON N RENTING HOUSES.
PERSONS SEEKING HOUSES At LOWER E;Nfs-
HIGm-PmcED RESIDENCES DIFFICULT I" hI-

PERSONS SEEKING HOUSES At LOWER E"NIs-
HlGm-PRlCED RESIDENCES DIFFICULT I" hIs-
POSE oF-APAErMrNT HOUSES.
Real estate brokers declare this to have
beep one cf the ducst .rasuus known IA their lust
ness II j. not .lnt people do not want houses t1ey eav
hut they Lave money 10 pay tho prices wbch They
rave readily several years ago. There has been no
marked reduction q rents recently, save ~ Few cN'
cepona cases such ~ tie running out @, long leases,
made when prces were high. The rates for rcsidcnc
propcrty which ruled the latter Part oi March
are sriil maintained. lIiehpr!ccd houses are the
most difficult to dispose Of Five browHstOhe
houses, which last year rented for $1,000 now
are rented gladly for $500 whc the S23OO house u
hard TO dispose % Tor 81 200 Several agents report
that their books ar" Gcd Win mcd'um-'!zci hoas'-
from 81 300 TO 3 400 year. aud that last there
WAS much more nrnucss the market for this cllss II
houses than now Good houses, on crossEuccts that
rented for ~, 2"O last year, have been disposed
of within the last month for Sl.OGO. In tnc
best part OF IwoHtyi,Tt-'. between nm and SIKH!
ayes u brown stanr LOUs., the rent at which lusi
wear WIS - 900 WIS rented this week tor 1890 One
agent declared that The only mouse on bis lat Which
brought the price this rs last, was neat lii
Tie cottage five ~ East Twenty ifst-si The
tenaut engaged II again early III the season Tor S,Ou
because IL suited HIM perfectly, ana was convenient To
Tn Harlem the same reduction has taken place Tac
near urOs poet rapid transit does not seem 10 have bad
the effect anticipated Even III small houses TIC old
prices cOuld rot be maintained Cottages that rented
Tor 5000 Last have found few tenants ut 500 this
season This IL attribute 10y 10 the great Increase
in Il ats and apartment houses especially uptown. The
combined attractions OF reduced expense ~ furnishing
fiat and lower rents have been too strong for many to
resist
In conversation on this subject, Edward j. Poet OF the
firm OF TimpsOn Pcof, which does very large bust
ness in apar meut houses sad, yesterday People
small houses aud lnO Hats manly Tor
sake Of Doubt whether any sentiment Of tnc
novelty of the cNr,IiuCnt has much to do with H.
There been great demand for Hats, but still the
reduction rents has been large. Floors that
last year rented al $40, $50 ind $50 IlOn'h.
this wear bring respectively 40, $50 aud SO. Tlc
reduction for OwpIiccd flats has been from - 10 SO
ON each floor month. In higher priced flats there
bprn cOTregDUudlng reduction In prices. small houses
uptown have brought far prices. In East Ninety
I'm bOck-Nas rented lew days ago Tor 5000"
MANY tenants" he added, d" wait until the last week
in AnriI and then think owners Will make large cOnrrS
sOus rather than their EOuses left vacant. This
houses, but those who expected tddt land
lors would let them have houses for next to nothing
were grlevOusly disappointed, In some few cases
| | have M doubt, heavy reductions were made, but
az a rule there have been more than usually
bappcn at this time. Last week we thought there would
be biz lot houses books after the LIST of MAY
bat all good houses have gone OF rapidly at the last
moment Within a few days VIC have rented far more
than we expected, and at trining reduction from
the prices asked in March. Yesterday, for instance
rented houses that have been ON our books
time. This cases OF very large reductions which
hear of doubtless those IN which long
leases have Just expired These leases. in many in
stances made before the panic when urces
ruled The sudden drop from those high ies present
values might lead to infer, from individual
| instance, that such decline was general, which
would be very wide OF the truth. Stores seem 10
be pretty well rented especially wesside avenues
Only Que OF Mr. AstOPs stores which have is now
vacant and an application for that has Just been
received"