New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-02-17
RENTS STEADILY RISING.

OF EAPID TRANSIT, INCREASED hAh"Ai W.
INJECTIONS, AND THE NEW -CoNsllio'ioN vi
cAuRORxIA-TALKs. WITH REAL ESTATE AGENTS
Thora hos been q general advance in rents
.,nco the beginning OF the year. the market is un
,, ac,tve in consequence. The price OF real estate
no. a,so advanced, and dealers and owners sro
IN n cheerful frame OF mind. anucpa'ins
s.iu further increase. TRIBUNE reporter o"
at number Of leading real estate ONCE. Inesua'' n~
found proprietors aud busiy occupied 10
70 reuonstrances from tenants who had fe'e"o" 49,
of an increase of rent on may and answering nquo
about vacant houses aud offices from the'e' fOi Wv
most part however, the customers were' III '
of dealers shopplng."trying TO aseert TAIN "He'n'i
they cOud do better or not ., .o
The demand for h0uses and on'ces mas no' Oeon o'
80, s,,co 1870 and landlords therefore, are not ds-
noed 10 make concessions. The average increase III 'no
rents OF dweinghouses mas been IRON III 10 ID ecu"
In some favored neighborhoods there has oeeh nuc"
larger advance In office rents. below CanSst Tue III
crease has been from 10 per cent IN less faVoreu su
TONS high $50 cent IN some Instances coso
by the Stock Exchange Of course IN many cases ho a
vance has been made. good tenant with proinp' pa"
ment of rent is considered by many LANDLORDS oie u
srabe than stranger WHO offers larger rent WIFI eSS
certainty OF prompt payment 49, T.,
There are various given Tor the aoV"nce !"
nriees The population city Is rapidly increasing
and many families who lived in Brooklyn, Jersey
City and other suburban towns during the years Vi
business depression now returning. Inc laci''eS
offered by transit and tne severe weather OanE
ferry detcntions this have added 10 the ncha
tion 10 leave suburban towns The prosperous tines
bovever have most TO do with the changes. Families
that lived I'm apartments and hotels to ecOnomse ior
while now feel able return to Housekeeping o'heS
desire more room. Similar causes operate 10 uereo
the demand for offices and stores inc unequaeu
Facilities which the city offers for all kinds OF business
,hava attracted many capitalists and business
inen from other places. The appreciation IN
all kinds Of securities, and the fortunes tnat
have been made III Wall Street In consequence
have resulted increasing the value OF property In the
peghborhood OF the Stock Exchange, where the price Oh
seats has sweled to great sun. Many old buildings
ara undergoing repairs, and tenants have been COLL
PEELED to them IN consequence. This adds to the
demand. The Constitution Of California, even, has
had its effect real estate In New-York Many capta
lists have Withdrawn from their Investments on the Pa
cifc slope and have purchased NewYork real estate
Many of them have settled permanently In this city
COMPLAINTS OF TENANTS.
There are two sides Of this question. Tenants claim
that city and State have been decreasing for years
that money is unusually cheap while the cost OF the
OF life has advanced within twelve months
and that such circumstances rents ought not 10
he adv need aud higher prices cannot be maintained
More new houses built last year than in pre-
viOus yeats
The very cheapness of money, landlords answer,
raises the value of their property. Rents nave
been low, they say; the real estate market has
been depressed; the reaction which set In last year
will continue until city real estate resumes the place
held before the panic of 1873 Taxes now are pig per
cent higher necessary to make real estate
O profitable investment
TALKS WITH AGENTS
member OF the firm of L. A. Cruikshank q Co.. NO.
GO Broadway, sad There has boon Renreal average
advance throughout the city OF from 10 to 10
per cent Tn the immediate neghborbood of the STOCK
Exchange the advance has been much greater. Rents
for desirable brokers' offices Broadway, Walst,
In nli.a md
Broad The advance has been about 80 per cent
1t Is higher in old leases about
to expire, and IN instances lower The demand for
offices is the increase because many tenants have
been ordered quit present quarters aud Others desire
more ROOM The demand for good residence properly
Is greater than the supply Flats in good demand
readily although many persons are leaving
them for better accommodations. Property Is selling
much better although prices are unsettled Some land
lords put the value on their property % IN 1875
while others II at what 1t will sell for Last
year landlords looking for leases, while this year
tenants want leases"
A well-known real estate owner whose office is in
Pine-st sad Notice is given tenants February OF
any - rents. year ago landlords, who IN many
cases bal rafting their property at prces 10 suit
tenants felt that the time had come Tor an advance and
February gave notice TO that effect 1t created quite
furry among Tor that month, but slightly higher
prices were obtained The market was steady during
the summer and stronger In the fall There strong
real estate, Prces have advanced from % TO 33
per cent on an average. Last year the
Astors thought of advancing their rents 20 per
cent; they finally decided 70 advance
10 per then aud 10 this year. They have done this
without trouble although they could not have got the
20 per year There really few 1t any
good offices now be had beow the Aston House IN
some inst Dces rents have been doubled Tie Rhine.
lander has advanced rents 10 per cent similar
increase has been made IN the BOree Building All the
Offices In the building at Broadway and Wall.st.
have been taken, although the structure will com
eted for some time. The Of the ground and build
ing Is 50 900 900 aud the income from rents including
tne amounts heretofore paid by the two banks will
amount 10 $4,000. Prices Will back to where
w K. Stevenson. jr.. Of No. 25 Pnest and No Gel
fithGve was sangune OF tue future Of the real
marke, aud of the continued advance In rents The
deman for frsl-cass houses between Lexington and
si1,aayes ;a and heno1 mn he said
rente. the house No. 6l3 F1fthave. for $1,000. The
f. Maylsr short time ago for $ios6OO. I have Just
refused offer OF $4,000 tor IT,. and have placed
advancing The real estate interests Of the metropolis
are gradually and surely feeling the rise 10 based
the Increased mileage Of completed railways connecting
with New-YOrk CITY additional steamship trade. ele-
and the retprn OF valuable trade with tde 100000
people Of the South Not one 1s part Of the ad
BY What rapid transit did for the
properly there, our rapid transit lines are doing for
lower Broadway. Wall. Broad ana other RAPID
franst makes trade centres permanent Nothing would
help Broadway from the BATTERY to Union Square 40
much as borserailway The or rental
d stores is III Broadway between Union Square and
Fhirtyfourth-st where there are horse railways In
EeWIorK in London the rich become richer and the
Door become poorer. Therefore line OF FlIth.ave
Tor improved and unmprOved property is the most
enhanced value and the tendency continues upward
as the rates OF interest become lower The next
years will show the most remarkable IMPROVEMENT In
CITY property in real estate Land In the An
nexed District will double III value IN my OPINION"
ACTION OF THE GREAT LANDLORDS.
irving Co.. Of No. 25 Wllian-st.. who transact con
siderable business for the AstOrs, said: Many old