New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-09-30
The REAL ESTATE BUSINESS.
PRICES AND RENTING GOOD.

THE GREAT DEMAND FOR BUSINESS PROPERTY
CONSERVATIVE FEATURES OF THE MARKET.
This week there will be more doing IN real es-
tate at auction has been done during tho inerne
date season between midsummer and the opening OF DC
tobei But much activity in this line cannot be lookeu
for till some tine later unless an unexpectedly goou
demand nulaes early offerings OF property Inc &c"
sales that haye been held Exchange saesrooms eVo
been well attended and developed no trace OF "eaAe's
Some fear has been expressed that the real estate ASSETS
of one OF the firms whose failure was announced ast
week might be thrown the market with depressing
effect But they will hardly be In condition TO Oner lho
propery for some months, and II Will probably not Oe
pu up at auction (f put up at ALI until next spring.
Real estate resent the criticism winch mas oeeh
passed upon q supposed speculation In realty by inc
firm referred the cause Of its disaster There IN
nothing in this warrant the criticism The Will
drawal OF capital from business for the purpose OF
m akiDg outside investment, dealers argue neces-
sary the business But the real estate market
has had no shrukage in prices no such sagnaton III
transactions as wor Id the failure OF any mercantile
concern that was nqt involved by ohef things nan III
vestments in New York property.
The market during the week has been dull but strog
The best OF the situation Is the conservative temper
of dealers and operators Even builders whose ventures
in the las. few been extensive as to worry
some careful dealers are pursuing imore cautious
policy, dictated partly 10y necessity ana partly ny us
when rroperty mas been ortgaged, and there few
second mortgages TO Cypress or alarm credit IN soo
directions real estate men expect more or less nnkhse
the expensive houses punt aiohg 'en.i a. al
within tn limits Fifth and Fourth aves ana Ill some
uptown West side apartment properties terhaps aIeo
in some horizons of tue East side building OF ene-
ment-house has teen somewhat overcome but on une
West has been no sucn recovery I'D prices from
the depression mat followed tne panic c D. 40 30 a" d
Dccured IN localities the East Slde, AM psl
ness property the lower part of the city presents
It is considered doubtful whether TIE enormous
increase in office downtown by tue erection OF
big buildings during tne iast rev years
much ahead business needs Even In the lace OF inc
empty some OF the new buildings tne nrnhesS
prominent Street dealer said yesterday: Ihere
has been supplied to lower Ne w-YOrk Few OF the new
big buildings be fOGnd That are not satisfactorily
filed Those which not are waiting some event WHICH
~ near al hand For instance the Weles Building seems
10 be slow getting filed, but me opening OF Tue new
Produce Exchange Building viii bring thrones o.
broKers and dealers il account or Its convenient
location This centage is also likely early TO a'sOrD he
Field Bnildng The starting Of the Produce E1 change
Bank the opening of Petroleum Exchanges BANK,
these and other things point the certainty that no
place down-to can be Unsolicited as an once ceIte
nere excellent demand for stores below C9hasI
wbere the supply is far behind the demand There Is
not broker could not rent twice as many stores IN
this district he has TO offer. Below Chamoers-s1
| there are practically no stores to rent. Al, ,,
business at private sale more active last week
ia nor the movement that will probably occur III lew
weeks. Among the more important ttansactons were
Pnillips Nus 81 and SO Newest and No: 3s Broad It.
$500, 900 Mr. Phillips takes from MI Fish pr .,
of ints M Sixty-secOnd-st. and the BOdeYhr1 lOI
$1,000 and No. 80 Pierrepon-st. BROOKLYN ior
| 500 600 s. NJ Hamilton sold No. 2 East Sixty sew
enth-st for $4,000 to Wallace c. Andrews DR.. j. H.
Leaning. OF No 100 West Twenty PIrcl Sc,
No East Thirty tignth-st from the executors Oh te
late b. d. Morgan ID. c. Hays bought No. 10 East
Eighty-tnird-st for $4,000 Three hyestory bricH
and stone tenemenfs west OF Avenue
we're sold by Andrew J. Kerwin to Mrs. Corneia n.
MylIns for 100000. ID. J. Jardne bought OF Johh IL
10 1r E1ty-sevenst. east or seventh
Tor about 81 90 600 William NoDe sold four lots III sixty
nIuTh-s west OF Eleventh-ave., to Charles A. ruler
oT 81 900 each 1t said that both properties Will Dt
| at once improved.