New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-18
RENTS GENERAL LY LOWER.
HIGH.pRICED DWELLINGS DOWN MOST.
A FALL. OF 10 To 20 PER CENT FROM LASi
vp.p-THE SALE MARKET STILL DULL

Tho raining of dwellings has Jagged badly this
seas,n Ian lords nave ueen iOath 10 accoP. Ut0
n.cs,sity OF reducing thelr incomes anu tonH"o 20
have been persuaded, in view OF the weaknesi 10
sn. marked To defer their arrangements unti tio
last possible moment, hoping each "eeh W Ia ~
To get lower terms. he result las heen leased in
many directions more houses nave oeen 1880 Tr
fh. In 4 week or two than III a month III oiuin".y
seasons nut without supplying any s'lu, , , ~ "
Tie market The general assertion VI ieai :SJ
c.,ar Is that the season will close with decided
reduction IN the incomes ol owners as oo"lpai o
with this tiiie year ago. lhis howoNot, S'a
no snrpris., aud there are some operators Wno say
4 at t decline in rents rs not so great as tnoy oA
nectsd n 10 he last winter The iail IN rehts.
never heleSs, has been suhcien' y"
many moderate bulls"
"i N''n~I,v tne sbrnkage in the income of prop
erty 10 let ba, been felt most III tnat ciaoo Vi pp
erty occupied by persons oi ,%roneh hard times
a rer I1o mass of wage-earners have been cohpelle9
Ia curtaIl expenditures. Low-p priced houses anu
tiats are lways in demand IN a city IKE new OH
,se,,,np with people and growing in Its aggregate
wealth every year-and there mas oeeh u..a
change in their rents this season. Many on'nsd
have ueeli made but they are largely thoSe oauoou
Nv ueople moving FROM one place 10 b cneaPei nou'o
or borhoud The general average OF renGs ooihs
sustained by the Increase IN .ne SsSS year and
dwellings, commanding $1,000 and unuer haso TO
coded little from year ago. no si ~ 20
fallen upon dwellings that rent nom @l,Vou up'
au.i an OK peuslye apartment houses welI posIeu
Pne-st. dealer yesterday estimated Tue ,
cline this kind III property az 20 p1 Of from
~ n, H. sS 50o nave fallen OFT 20 per cent those
renting at from 81 900 TO ~ OOc' nave oeen to1
this season ut "a reduction OF 10 per cent. ms ue
has be.n felt pretty much all over the Guy,
modified IN particular lOcanty, Out chaisou "
slight extent i'll special INSTANCES 10y special Oo u.
Alterations As "a rule landlords have submitted 10
snarp reductions rather than go 10 tne expense Vi
the repairs and improvements almost ihe' iapio
secure new tenants A prominent dealer salu
receutlv. One OF our customers, who owns a hne
house in West Fity-f0urth-st. came 10 us recehty
and told us that his tenant had 0uereu 10 reneW n
NJ
him uro,uptly to accept the offer and after lie hau
got over MS surprise at the advice he accep'eu !"
ami IS glad OF H.. - orso,s of
moJerate means out of NewYork into the suburbs,
10 places where the distance by rali is ohy an ho'i
aud where the trans t drs are aS on the elevated
roads here. Yet dealers IN SUBURBAN properly 10
not report any great activity IN actnai eales toukn
inuuirIes ar freely made. 1t seems that many per-
snns however, VINO do not wish To settle do"h III
the near country, are arranging ther summer
vacations so as to leave them free To return Ill Ihe
autumn to make their renting arrangements IN eA-
Dectauon that the market Will be even lower thah
IL now is. SO far as tue demand ior houses ~ Iho
suburbs Is concerned, little Is reflected Vi the uc,
nand which soIue owners expected might be created
by the of a possible visitation Oh cnoleia IA
New-York this summer Inc Necessity Vi e'o t ny
undoubtedly is forcing many persons out oI inc
CITY but this eiilux is hardly pefctpuoe hs yeb Ill
the prices or tue demand Tor QUITO town residences.
Downtown onces have suffered an important re-
ductiun in rents The falling of from last year is
fully 20 to % per cent Fine easements ana ues l.
able hrst-hoor offices command ialI price, put
barring ont exceptional localities, the tenant can
in the words of several agents. make his own
terms Offices on the upper floors oi ou IN
and around Wall-st / he Mortimer Bulidlhg.
ut Wall and New SITS, the Union Bank Building IN
Wall-st between Bond and William sts;, ana the
new Real Estate Exchange besides the org puilds
ings opened within the last year, and sui naI
empty have over-burdened the market In the lace
OF the great increase III the supply Oh doWh-tO"h
Office room this spring. iand rds nave asO 70 iI the
forward to the completion next autumn 0I VIC
Standard Oil Company structure III lower broau-
way the Astor Improvement In Plne-st between ecu
broadway aud Nassau-st., the remodeiling oil the
Metropolitan Bank Building, and the renting OF
the old Mutual Life Insurance Building. az Broad
way and Liberty-st There will be many changes
i'm Wall-st offices this year. and gauge OF the
renting market is furnished by the compromise
recently maze ON second-story Once III one Oh ene
most desirable buildings IN wall Structure yeIan.
offering 81 800 the landlord demanding Yz'foo'
and the lease finally being renewed at @Z'OOo.
There were few features 10 Tue reai entao i1
This week Dulness was complained OF eehelaliy
but prices still retained full stehgth Inc most IN
terestiug occurrence was the opening Vi , Sho lev
Real Estate Exchange in Llberty-rt, on iucsuay,
the first auction sales taking place there on the oay
following There is some complaint ABOUT the new
rooms being too small and the location not SO easily
reached as that of the old rooms at No III Broad
way but the latter criticism Is one when Time VIII
destroy In all other respects the new T
of the auctOneers give general Satisfaction ne
sales at auction this week were interesting, Dut
mainly because of their variety, no large parcei
finding its way to the saesstaha Us ou ~
BARGAINS and the prices realized III most cases we're
reflection of the strength OF tue market IN 81
its dulncss at private sale There were Few OF tnese
saies worth noting. William Lalor reports the SAFE
OF a house at Sixty-fourth-st and Madison-ave to
Robert Livingston for $4,000, and TIE sale OF SIX
lots at Seventy-seventh-st and Flfth-ave LOT
500. 600 to Francis Palmer 1t Is understood that
the latter is an exchange. - .,o "a
The Seamen's Bank for Savings yesterday ad-
yanced a loan OF $4,000 to the American Bank
Note Company, and security has taken mort
gage upon the companys new building, Nos. i 10 10
Acker. Merrall & Gondit, II. X. & +. Is. Thurber q
Co, b. l.. Solomon & Sons, and Others executed q.
general release TO Frederick Lewis, assignee OF tue
estate of Max Stader, which provides tor the re-
transfer of the property and real estate IN the hands
of the assignee to Mr. Stadler. Among the nstru-
ments recorded in the Registers Office were re-
lease for a nominal sum. of real estate IN the
Twenty fourth Ward, to the city, for the purpose
of opening Spuyten Duyvil Parkway from jose 70
mime B. Kroger and another from the Rutgers + ire
Insurance Company, of property in the twenty
third Ward, lying upon thoroughfares that are TO
be opened