New-York tribune., 1885-03-15
CONTINUED STRENGTH OF REALTY.
WHY PROPERTY HOLDS ITS VALUE AS hohH-
PROMISE OF THE SPRING.

WHY PROPERTY HOLDS ITS VALUE As "'
PROMISE OF THE SPRING.
satisfactory business is generally reported py i"
estate brokers' and they are still looking or A
least good spring trade even If the activity ooes ho'
reach the proportions hoped for. Considering the 10"
prices which are ruling in the principal markets. INC
real estate situation is tar better than many dealers
some months ago thought 1t would be at this trme'
From the point of view of specuator the real estate
market is discouragng, but regards Legitimate
business little complaint can justly be made H,s' OIL
the surface surprising that the general on
for real propeIt is not lower in the lace OF the ss
pishness of speculation and the lower wages nnu
smaller profits which distinguish tins year IN ~ non
with few years ago. ine no aonbt for the
distrust of railroad management felt by many persons
of moderate wealth is throwing much money 'h,o
realty that under other elsewhere
This influx tends to keep up good prices ior mcone
yielding properties even while expensive PrEa.o
dwellings and apartmenthouses SHOW aecioeo shInA M
aoe in yalue Rents tend downward because of the
nece ,sties of both landlord and tenant bt the rates
of interest assured investments OUTSIDE OF rear
arc 40 low that all things being equal, many capi'a
iss preer to derive their interest from real properly
which they know all about or can look after Ptfsouhy
Hence while the income OF stores ana dwennss As
rule are reduced the value OF the holdings Is NAM
tained at the same figures which few years ago
yielded greater profit on the Investment .un. rood
1t is this condition OF affairs when nrngs 49, sra
buyers in large numbers to every anction sale where
property is offered of tSe
sbrinkage 10 value of high priced properties, tne
auction sale thi. week of No 3S %es
a splendid house in a tip-top neighoorhcod Whlca
brought less than $4,000 Last spring the ofer on
SlO0OO was refused for the same house. on tne
other hand business property in the avenues ana ,e
chief business is strong as ever ana m3der
ate sized houses which always IN demand sell al
their tull value"
The econyeyances recorded last week show shrlnkage
in the total business done compared with the same
time a wear ago The amount involved last week was
S24S55S5, against S2.617,177 In 1853: line Inc
mortgage Indebtedness recorded was 81, ,40o ~:
against 81 ,352 ia for the corresponding week OF
1854 There will be several important sales at
auction this week Among the private transactions
recorded were the sale of No. 4S East Ffty
TO Henry Goldsmith for $4,000 and the pot oil iahd
at the northwest corner OF Park-ave. ana seventy,
nnth-st bv John ID. Crimmins TO John casey and
james Mcdonnell for $4,000. No. 43O west
Seyenty-secondst was sold by +. Crawford TO George
Bence for $4,000 The flats, Nos. 1s4 20 100 East
Seventv-ffth-st., were bought by Manuel Fried and
Albert Deutsch for 100000. Five lots IN seventy
sixthst west OF Nnth-ave.. were sold to NJ brennan
for $4,000 Six lots in Seventy ninth-st, west OF
Ninth-aye were sold for $500 each TO Samuel
Colcord Four lots in Eightyseeond-st. west OF
Ninth ave- we're sold for about 50 900 each by Michael
Coleman -Four lots in Seycnty-second-st; west oil
Ninth ave-, sold for 5000 to Charles Batcheior.