New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-01-31
THE SEASON FOR RENTING.
VIEWS OF REAL ESTATE DEALERS.
NO LARGE REDUCTIONS EXPECTED scEPTIclsM
ABOUT REMOVING THE STOCK EXCHANGES.

ABOUT REMOVING THE SlOCh EAOhANuNS'
In some directions the season for renting properly
lie reduction in the rents which prevailed last year.
business property uptown has been let IN m Sss
eases earlier than usual and while no advance nas
Seen secnred in rents landlords have been satsne9
to renew their old terms and ten nan Ioer mart
inquiry has begun Ssr eees dealers 9 agree that
r. Is too early to predict what VIII 10
the final course Of rents. Many removals are en
Shifting of the tenants Of particular buildings than
vacancies which are liable to remain unnnea'
Complaints of high Office rents In view o, ,ne sen
and taking the opinions OF real estate men men as ;i
whole there is expectation that THESE rents o VII
show a decline from last year of from 10 70 per
Cent These estimates are as yet mere Ruess,woIk.
md il is noticeable that the brokers who handle
That rents will not be lowered or that the reduc-
ton II any made, will be slight WIN regarato
dwelling houses and observation-disclosures dealers are
not ready 10 speak with confidence OF the
n is universally agreed however, that medium
sized houses and fre-proof apartment houses VIII
rent fully up TO the present basis while
property and the lower grades OF apartment-nouse
little change is looked for in the rentals OF tene
mens The talks given below Wta aTs fair Teec
fion Of the different views taken OF the conlins
season No belief is entertained n the of tbe
of the gossip respecting posslOie leuo' d - Wv
Stock Exchange from its present situation
WHAT LEOPOLD FRIEDMAN SAYS.
xu.., osIad for his opinion of the probable course
of rents Leopold Friedman, Oh tne him u N''
pinasse pswer yonT question better than to
show 'a Won a notice which have just received.
noner next wear as he has had this This is true all
over the town and with all classes OF propeily
cept perhaps thlrd-class apartments anu are
InS pg @pSh " mistaken; they don't take
into consideration that New-fork Clty Is gl9wtns
OF the rate of about $4,000 people YEAR anu th.V
.H dansinns of business are increasing constant
". Look how the character of Fifth-aye is cn9Sns
ing. In FIVE years from now VG Fftboav W below
Eftv.ninth-st. will be those built at great expense
Inv siIch men as MI. Vanderbilt and MrGoeiet Al tne
Esd 70 business purposes like the Boulevard des
ltaliens and the Boulevard des Capuelhs. ans ans
which not much more than no BUSINESS
streets and avenaeSN ew Y en there are at
lie Dn mSpSSan Here we RrSs,
one Sixthaye and Fourteenth th ana 6at of Going
sLopping; all other streets are looked upon as In.
ferior. Now anybody can form an OPINION
future is before NewYork and what S;de s
her streets will have TO undergo ne East cue n 10
built up and residences crowded up tCmn
nronerty between the Hudson River and Central
Park can be had for one-third the price askeu ioi
property east of Central PARK
''There are not than ten or twelve hrst
anartment houses in the city, and they are crowde
at rents of oUt ana T 90 nm before they
come down BY firs;-class apartments mean IRE
proof apartments of course Inc only SrnJ ~
Viii be In apartments where people ara afraid 81 ~
Their lives and where owners wish to compete WITH
the West side property recently brought INTO 1nt
flats at Eightcenth-st and Fourth-aye., is contem
70 make it cover t the whole e.. O TSi
doesn't look like lower rents does IL IN lact tn
prospects generally more favorable TO reaf Gs
Asa director of the Real Estate Exchange, had
occasion to find that out. We Couldn't Duy proper
had 10 nav for "a feet on Liberty-st., by 80 feet
deem. $4,000; 90 feet of it, however, were COW
cred by the MarquaDd building"
AN EARLY DEMAND FOR OFFICES.
A strong view in opposition TO the general sent
,nent of brokers was expressed by one of the most
prominent agents for offices and store properly II
the city, lie said the ebb bhy9 district iSHo around Ca
nal-st and in scarcely single instance nave rent
been lowered from last year neGTes. IN IaCt VIZ
renewed most of this property at the same TSniaI
in Novemher and December In Sixth and Eighth
aves too tenants have been willing to renew theii
leases at the rates they had been paying, ana whle
io%SIopds have not sought advances the market has
held up fully to last seasons prices mere Is q
strong demand for stores all over the city ana IL any
thing il Is larger than the supply ldon oeileVe you
will see lower rents III any of the favorable LOCATIONS
of Office property down town. We have done more 4
business in renewing leases at the o'd rents lRls
,eor than we have done so early in the season fol
many wears notwithstanding the addition OF In'
now produce Exchange Building tne flelu IDulu
ing and that of the Mutual Lite Insurance Com
pany 10 the available supply OF omces tnere is III
lack of inquiry for Offices am tod that mere To arr
practically no vacancies in the NILS ana DleA A
buildings and know thar those which we arr
agents for are not suffering for tenants mere Is
growing tendency for every Elna GI sld an
of every sort are being multiplied mere, LOOK a.
the big insurance companies Whlch lom ,
wears ago removed up Broadway ana a1ou
i6s CITY Hall on account of the, higt
rents. They are gradually drifting back int
Wst and they bring along sH eo1c teo
are promptly taken by other business eStaDlisn
ments Banks have been increasing in number 700
facility for business has TO be increased.
"High-priccd dwelling houses viii probably rem
obeaney this wear than last. Lots on the East sid
are so high that large houses cannot now be bull
with profit and building operations oI TINS hln'
have been checked. But houses that rent at ilou
crate prices are sure to hold up TO present rentals
THE PROPOSED NEW STOCK EXCHANGE BUILDING
The Governing Committee of the Stock Exchange
mt its regular meeting last week, apponted specla
Committee of five to consider the need OF a new
bmiidjng for the Exchange. A motion TO adjourn
had been made when j. D. Proost asked that |
might be withdrawn and then he offered Ies9iu
tio1 for the appointment of committee on site
There was no discussion, but the resolution wa
adopted and committee appointed consisting o
J. b. Probst, Donald Mackay, William Lummis
Brayton Ives aud L. A. Drake. The action OF IN
Governing Committee led TO the puOhcatiol
Yesterday of pon sensational nal si abgSut ina
move uptown and that Union Square would proba
bly, be the site of the new building. The spee1Ia
committee held its first meeting yesterday. but az
nothing. after organizing, beyOng listening 10 tn
reading OF some half dozen offers of property al
the way from the Battery to Forty -secQnd-st. I'VE
members of the committee, William Lummls an'
Brayton Ives, complained that they had been la
mentally msrepresented in the published inter
views. Mr.. Ives remarked to TRIBUNE reporter
III YOU have as vivid an imagination as The Tune
reporter who called on me yesterday, shall hol'
Won strictly responsible for anything may say 4
;.on Yes personally responsible for that woul,
be probably the quickest way TO settle the matter
II will be safe for you TO say, however that III
Stock Exchange will not remove TO Union Squar
Lefore Summer / think that statement may b