The daily gazette., 1879-03-10
From the N. Y. Herald
The Rent Market.
No Decline In the Prices Of the First
class Residences; But Hedry Depre-
citation In Flats and Tenants.

citation In Flats and Tenants.
FIRST CLASS REsIDEHcEs
From conversati ons with M essrs. Lrd-
low, Harnett, Morgan and other real es-
tate agents 1t Is evident that there is to
no reduction this year in houses renting
for from 5000 to 81 900 per annum, es-
peclally those in the Murray Hill district
and the choice qnadrilateral bounded by
Forty y-second street on the south, Fourth
avenue on the east, Fifty-Dinth street on
the north and Sixth avenue on the west.
A man who has made his money In Chi
caRo, st. Louis, California or New Or
leans, bringing his family to New York,
generally, " In said, seeks for quarters in
this particular locality, though in other
neighborhoods he might get house tor
from 81 800 to $500 per annum.
SECOND CLASS DWELLINGS.
The second class residences, of course,
are far more Numerous, and the rental
asked for them affects the bulk of the
population. The Aator, Lorlllard, Fish
and Rhinelander estates comprise large
blocks of these houses, renting all the
way from 81 200 to $1,000, whore occu-
pants are clamoring for a reduction but
the decision taken by the Astor estate Is
being followed by numerous other land.
lords, who have thus far succeeded in
having many leases signed at last years
rental, especially Of dwellings in decent
neig ghborhoods, b.tween Sixth and Sew
enth avenues. There Is, however, ono
exception to be noted.
FLATS AND TENEMENTs.
Rents for fir class French plats or
apartment houses remain somewhat in
sfdtu quo, with leaning toward low
prices. The mania for flats renting at
| $50 TO SO per month, so universal dur
| ing the past few years. appears to have
| somewhat abated, but there IL a cores
ponding incie in the demand for sec
ond class flats such AZ rent for S35 TO $40
O month, and hence 1t Is that numerous
owners having honses on the west side
all the way from Eighth street to Thir-
tieth street, too old and ungainly for
pri ivate residences or even boarding
houses, are changing them rapidly into
flats.
Following Immediately the second
Glars fats come the regular tenemeDts,
| where occupants pay rental offrom Sl4
to 10 per month. There number IL legion
and everywhere "the horny-handed sons
of toll" occupying these domicil-s are
clamoring for lower rents. They are the
mechanics, clerks and small salaried
workingmen whose earnings have been
cut down during the past year. Among
these, according to one real estate agent,
are nearly all the policemen Of the city,
most Of whom live in tenements. They
claim that since their salaries have been
cut down they are bound TO demand
o reduction in rents. Taking q general
survey of the rent market 30 far rs resi-
dences in the central part of the city are
concerned the situation may be summed
up in the words of real estate agent
doing business near Fifth avenue.-
"Rents," he said, "will not go down
owing TO people moving to the northern
part of the island or owing TO large
supply of house ses, but simply because of
the actual want of money now 80 preva-
lent among the people.
| A Twenty-third street agent said to
the reporter r:-"Several boarding houses
and few small hotels have been leased
at ten per cent less than last year. The
people are suffering more than is gener-
ally known, aud they cannot pay the
rent of previous years. AS to boarding
house keepers they are all clamoring for
low rents. And what can we do? After
a house has been once occupied as a
boarding house it Is difficult to let 1t to q
private family, and we are compelled tC
accede to the demands Of the actual ten.
ant. These people are not to blame II
they don't succeed in MAJ ing money
With the exception of first-class board
ing houses, which charge enormous
prices, not any Of the low rows of house,
you see along the cross streets pay. The
competition is unprecedented, and hence
the majority of them are compelled to
take boarders at low prices aud are run
ming at a loss Their offers for renew
ais OF leases are IN many instances RI
diculously low, owing to the fact mainly
that SO many private families now tak'
ono or two boarders to lessen the ex
pense of housekeeping. Then, again
the habit of going to the country .every
summer has resulted in many boarding
house keepers being unwilling to take
lease even for q whole year, a. they al
claim that their houses are virtually emp
ty between the months of June and DC
tober. People now go to the countr,
even earlier than this In the spring ant
return to the city later in the fall.