New-York tribune., 1884-02-03
REAL ESTATE PROBLEMS.
PHASES OF THE MARKET.
A nEALrHFUL CHECK TO BUILDING OPERATIONS
SALES OF THE wEEK-FIRMNEss OF REALTY

A nrALTHfUL CHECK TO BUILDING OPERATIONS
SALES OF THE wEEK-FIRMNEss OF REALTY.
last week was an uneventful one in real estate
circles Few private transactions were made anu am.
fhe sales at auction were comparatively unnnPoffS
ant 1t is too early yet to LOOK & Tor ,p1 are
engaged In making the best bargains lh9y can III III
the way of renting. THE TRIBUNE on ih99tsidy 9rsin.ys
published the views of prominent real estate dealeIs
with regard 10 this subject and also felt the pulse
of the market represented by the general seht-
ment Summarized, the SITUATION ems 10 oo
strong: not so encouraging TO LANDLORDS as they
had hoped nor so uDfavOrable as the " bears had
nredicted For the choseSt localities ana under
The best conditions rents this wear Will be 1uly up
e. the basis of last year; in special directions there
will probably be concessions not, however 10 Tue
extent that might be expected, Judging from suGer.
fetal appearances The whole real estate market
Is supported by the enormous and constant growth
of the business of the city, which Is recognized as
potential fact, not only by the powerful esta9llsheQ
interests but by a continually enlarging class OF
small investors who have turned away, dlsgusted
from Wall Streets unstable specuiatlons 10 put
their small earnings or savings n1o nor oS
wrecked by manipulation OF exchange quoIaIonus.
The strength of prices can be explained only on the
ground that there is plenty of capital eager TO seek
q safe investment and, dealers say, outside OF real
estate there is other field for investment promis
ing the same income;wlth the same snail degree OF
risk Persons who are looking for good income
Welding property will be able to satisfy thelr
demands in the sales which are promised Tor the
present month. The building interest," does hot
promise as well as il did year ago. The checK OF
operations however, is no more unfavora0le than
the stoppage that is forced upon raToad Out,udng
when there is over-prOductiOn in that department
of activity. In fact, 1t reflects more healin tnan @
would be shown if, i'll the face OF general DusnGss
depression builders would continue to CTOWd the
real estate market with new supply. Ihe hecore r
and Guide publishes table of the building plans
filed last month"; which shows heavy decrease
from the corresponding month last year; A.
Among the private sales last week were the
following No. 90 East Seventy y,seventhst, Vas faS
sold nv Frank Mack to John w. Nooley 1or
S24. 600 The Columbia College leashOld at Nos
40 and Park-place, has been SOFA 10 M1i1.n t 81 a.
Brown for $4,000 No. 444 est T
has been sold for $50 $50. The tenements Nos.
$40 :{32 aud 334 East SiXty-third-st. have Oeeh
sold for S33, 900. w. II. Streeter has bought 20.
sac 600 No Is East Sxty-fourth-st. has been
sold 10y W. W. johnson to Charles Mm2eshelnier
iUT re bindings Nos. 1o419G and 396 Broadway
and property in Fifth-ave. near Twenty y-eighth-st
and in Twenty-hfty and Ninth sts. nave oeGm cen
transferred, for nominal consideration, TO the
Central Trust Company by the executor OF gohn
" Southwick. Mr.. and Mrs. William r. rent
for consideration of $l0 have conveyed TO Erastus
{be nrc,nises Nos 326 S2s and $50 Broadway,
Nos o. SO and 9S Worth-st and 5oZ PearI-st
The property is transferred subject to mortgage
of $3j0,0O0.
WHY REAL ESTATE is FIRM.
A prominent Pine-st. b rOker, whose renting
business is large that of any other, said yester-
day that there hadbeen many INQUIRIES fo areaGg & a. 10
wear and the general question was; How mich
lower will rents probably be- II was taken IoI
granted that they would not be higher lie sald
Further:
II "a almost too early 70 speak with confidence regard
.nr dwellings, the season will not begln for rev
weeks yet But this fact should not he f0rgotteh fo
couple OF years, men ana women with moiefatS nS"us
have gone into Wall Street aud bought stocks or oOhue on
margins. They have repeatedly seen their margins van
fsb like smoke in few days. and many OF them nave
been reduced from position OF independence 10 ln
OF dependence Now, that has been largely stopped.
People with moderate income or with small savings see
that safer investment Is secured Ifoln hQuse S
f1tafp i'm A real
have an element constantly Increasing Wmcn suppnes
new strength 10 the real estate market ana prevents
fens from declining While prices hOiu hln pCIcFV ~
rie rents will hold up the figures OF last year For
1g-prced houses that is. those which have been rent
ing Tor from $1,000 to $1,000 year, there probany
will have TO be some concessions made by landlords
60 apartmout- houses which are not stllcy hist
class-tlat absolutely nreprOOf But medium
6ouses are in good demand and will suffer dl-
minutOn In this direction There Is an eNcelehl IhluI!
for tenement-hOuses and although the building opera
ieeus mace with the supply and for them rents are likely
10 be unchanged Dwelling houses in Harlem expect 70
sec rent up TO years prices; thepresent rents are
moderate and the movement OF popualon OW.lI & tm,o
mart of city is constant There Is great lutue
N will be built up from the East River to EighaVe N
| understand that there Is prospect lof lHo
building OF cable road IRON one Hl1rea ana iMJN F,
ffth-st, along Tcnthaye to Hlgh BlldSe ana lhls
certain greatly 10 benefit Washington Heights properly
look for lower for Office property downtown.
Sepresslon of 1879: much available room has been
created IN the past few years, and LANDLORDS can surT
some curtaient OF rents and still obtain fair income
on their investment And yet there may be smaller
decline than expect 10 The crowlng or business
Snto small limits down town Is wonderful slight i'm
pTovement in business affairs would speedily stitten
rents. An instance showing the sensu'ehess OI ounce
broRgrS Witch rented formerly at $1,000 declined
TO $500 wear IN 1879. On May l, 1850 the landlord
trebcd the rent and the tenant Obectng his place was
taken by another almost Immediately IN spite or tne
Increased number of large buildings the demands OF Ds
mess men for rooms multiply wonderfully