New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-28
CONDITION OF REALTY.
HOW FAR WALL STREET AFFECTS II.
. dull. MARKET But PRICES NEUTRALITY-SUSPICIOUS.
LAST WEEK.

The recent rally in prices at the Stock Exchange
has not affected the real estate market except to
the extent of restoring q moro confident feel
ING to certain brokers and operators who
were becoming greatly discouraged at
he continuous decline in stocks. moderate
amount If realty in duh times, IL carried spec
ulatiyely on conditions that are affected by the
movements in Wali-st. A prolonged depression
here would stimulate sclling-out movement by
thi. class If dealers. The amount of property 80
carried is not great enough seriously TO impress
values but even the removal of danger from this
source-sinal though its results might be-SiVes
yelef to the general market An And so d
10 have been bened ted by the recent discontinue
of he - bears in stocks.
But as the influence OF q ." blue feeling at tho
stock Exchange would in itself have only COM
is~atively slight effect 40 the advance there mas
made 10 appreciable difference with operators ~
property. Business last week was extremely uuilt
are made but they do not indicate any teehhlel'S
IN the market. The long expected concession SSS
~ nr 1ce how however Where particular prop
critics desired holders are st m l1it ,Hsa
and generally make their own 'ol.a ar in,iif;Ty
tons are consuumated Where pefso,Is aie ~ a'i-s
s,les con.cs- IONS I'm prices have 70 be maze 10 ac-
c0mplish them On the Whole; nONeSed, u,lI ~
1,eigns above weakness and the development vi tc-
- a.. must cone only with the pressure 70
sFi tbat dealcrsdo not now expect An eieiheut Oh
strength in tho real estate mafket lhat no
cue calc of fbe ety 'e rhs 'a is S'f felt
ysp in tie belt of property on the east side between
lr,,,rth and ilttD aNCS, NutIt pllbCH axe Hdiu ~
,,any Conservative dealers TO bc ruling at figures
that allow no margin for an advance. In TINS sec
lion uptown, few lots can be bought at price
which VoUld warrant the building Of houses that
INST he sold at less than 100000 apiece to net
1ToHt to the bidder Yet the territory IS
one that is benefited by a special demand,
Ind until the tides of fashion reach the
west side there seems to be no Likelihood
of ANYTHING more than slow shTnkage OF values
brrc--if it comes to that-alhough alnore rapid de-
cline would not be regarded Us an unhealthy symp-
rom by many conservative dealers The partial
cessation of speculative building operations is now
aipg noted BY the real estate journals whose utter
on,es are always "bulsh." and they necessarily
admit that this is not undesirable when they record
rhe prospect OF lower rents next season. MlthOut
nm iD0pirV preceding we have no activity IN
The sale of houses lots" dealers say, and
1be fact that inquiries are numerous even when no
sales are made is regarded as favorable condition
OF affairs. e
Among the private sales last week were the fol-
lowing: No A West Fifty-SeyeDth-st., sold by
John q DOnnelly's Sons for 100000 TO William
Pollock part payment being made with No. so East
Seyputy-ffth-st at 5000, subject 80 a mortgage
If sol 900; No, 272 MadisOn-ayc. has been
sold for $4,000; No. 50 East Elghty-irSt-
~ was bought for 500, 500 by Hugo
ioscpbv while No. go East Seventy-nipth-St.
sxrcpoTted as sold for 27, 800 Robert Simpson has
b0ught the house at the southwest corner of Fifth
ave and Observation-Disclosures, for
$4,000 cash The tenement houses and stores,
Nos 1t94, ,496 and ,49S ThiTd-ave., were bought
for S6l 900. There are no notable sales OF vacant
lots reported to which prices are attached