, 1880-05-23
REAL ESTATE.
Effect Of High Cost OF Building
on Real Estate.
Necessity for a Further Reduction Ii
Materials and Labor.
Prospects Of q Summer ReVlral
Of Building.
Principal Sales Of Real Estate Last
Week.

pr;no;ro1 Co1o, of Raa1 Estata IaE
~''-100 ~
Week.
| :.
building Permits-City Improvements
miscellaneous.
One reason for the present Qulee ol lea1 es1ae
Is the substdence OF building, ana VIII IL u
disappearance Of demand tor rea4 e. esIate " ~
improved with houses anu STORES" 1Ae'e a'o
great many persons. the archltec1s say "ao a.'
ready to build as soon as they can make ao
vantageous contracts. Perhaps ma5on.y y
them had their minds nude up 70 oulld las
tall, hut the booms y frightened taen' 11o-
brick. lumber. stone. plumolns' al tas mate
! r1als and labor, went up so hlgn that tney CALM
to the conclusion they could MAKE hoee ny
KEEPING THEIR MONEY
than BY spending 1t. The downward moVe1nen
| In prices proves that they were right. When the
reaction hus zone little further capitalists vii
he willing to disburse their funds again in put
ting UP houses and business blocks, and the
activity Of building will give new impetus tc
the demand fur real estate. The most stubborn
price is now the price Of labor. The laborers al
| demanded their share in the wonderful rise In
prices that began last year, and the higher wages
they asked for were generally accorded to them: :
Ffr3kjrr ~
-ney 90 st',4 o.t'A's not "u A..s'., ~ -. e.a1.
against reduction. Thcir ateetuae Is Ut pres
ent the most serious obstacle in the
WAY or CHEAP BUILDING.
The cut-stone mechanics in this city arc not now
Mt work Thay nre holding out for d large ad-
vance. Aho,1t Anr,, fhov demanded n a Gay.
which the contractors thought the prospects of
building warranted them In paying The ad-
vance was. therefore conceded. But it was
found that Mt thosa ,vaerns contrncts could not
.ooua ."S n.1s d. .noso "atea ~,asa
pe mace BUILDERS Won1d not pay tne psleos
that bad to be asked for cut-sfone work: Ihe
ooms@ II wus lilIcd he, tha tno nnick rise in
,,n4-os 49, ,ata.1a1s 49, 49,. ,s -. ,vo-,-
-"asee "ou Ana1sl'"1s" aene*' tuo4o 10 w "o.n WIZ,
for the cut-stone men at 50 day, and there will
be none till thcy abate their Demands
Bricklayers wages now average about 81 day.
But only few are employed. Those who have
Jobs OF patching and fixing in, Of which there
"te a4"ays HI aounoance aooa1 may - afo ~
work, but -.......
THE REST ARE IDLE,
with the exception Of those busy on the now
denots and new man,factnrinp establishments.
r., ~. -,,, ,sa
short Of work Those who would build will not
do SO If they have to pay 50 d day to brick
layers The situation OF the carpenters is lust
oI,out the same Thav ara Tolv getting ~ 70 a
day, aeatust sln and sen day lusr year, Like
the brlckIayers, they arc patching and repair
ing. and they, too, viii soon be out Of WORK, and
will hive to choose between puy In proportion
to the reaction in other prices and no work
nan russ1r.
and have a further decline before them. Smith
Side briok is about % S7 a thousand. and North
f3U,sres IL M n tu,srfors v,th h,iia;n~ ,nd -
aServth;nr E esa tyoa ~ ~ se,ua ia!sa ,st
nuber Of new 1 ae voud at once be
@ down II the price Of hubble q cord to = cord,
asn au ~ uasy s,1 ~ ~ uahe , autiuer @ eon
kinds. Low grades are cheap enough, In hard
ware, nails aud screws are Ut fair price, Lead
must 10 lower. Thonsands of tnns are piled m
watins for buyers Ut fheir own @ no Price Conc Gonoesp
Fancy hardware, which in some cases went IN
Id Der cent. is stili ~ ''''~ o@7e" "eDS "F
Is rpn CENT TOO HIGH.
4lass IL falnng. and concessions are inevitable.
II II sheet glass the situation is Just the reverse
were were, sending - word to the manufacturers to
Nov the manufacturers are tmportuntng the
come come. Tin and galvanized iron have gone down.
like everything else: Mechanics are still stiff
gut , the aetermlnano1 or those who hare to pay
must either submit to scaling OF the price Of
ms LABOR, as The iron, lumber, glass, brick, and
stone> nen nave oone w1th their prices, or must
snllainE Is now ~ ~ TO ~ PER cent higher than it
f,1ao r. NV rh;o otroroa m, N. &C.,, ~
1,t ~ - ph5 & Zip b 70 SUP
++in ~ ~ n -" +! nas @ a ~ i Ieoue
Ftta ~. ~ ~ 20 ~ ~ Ious - tae aleuest p!Ges
,a,s.i1i lug ~ o VII ake
tot ' @ .uae ngat VI ~ 10 70 per
w ~. yea M .ne} nIs Wi!!ng TO suom1t 70.
an.,i4al;ets ~ .a og @ m o. tne.enect upon
NI, ,siii r. " e asT III tno eost oi ouliang
oe .,n1,+ A., o e, oota % represenL al. prom1
q ttuns ~ " atGu1lecta c1eu Two nontns ago
~. @ -. tU1 ceo aoo tnAt Wou!u Ihst
sn ~ ~ eoe' s'oo' iAe o'os 1ooteo up ABOUT
e'"'"e"' s ,.-.,..-u..-
IHH y" NEh WITHDREW. |
Recently the same plans were again figured on |
and It was found the work could be done for |
$4,000. The owner is becoming mo1litied. but |
wants to wait till be can build for his original |
figure, $50,000, and bis architect tells him that
with the prevailing downward tendency Of prices
be Will not have to wait long. With renewal |
OF building will come new demand for real
estate, and the prospect that the summer will |
see lower prices Of materials and labor Is to-day
the chief sign Of hope for the reai-estate deal
ers:
". D. Kerfoot, l. Co. have sold to Mr., John
Borden for $38,000, or $475 foot, the unim-
proved lot on Randolph street, 80xiS0, near the
southwest corner Of franklin; two cottages On
aobey street, corner Of Rice, for 5000 each:
Ehree lots corner Of Margaret and Henry for
'or 81. .DOD. and I:QrIfl1 feot m iniro o.,ar,,a'
1ear Forty-seventh street for $4,000,
AF- II