New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-10
ACTIVITY IN BROOKLYN PROPERTY.
uNr,IAL DEMAND FnR mOrsES IN IMK LAST 81

WEES.
For some time increasing activity in the
Brooklyn real estate market has been mnnicsting itself
Throughout the sales and transfers more
frequent than usual NJ that of the year. and
brokers thought they dcortrd signs Of preaching
revival Tue first OF September camo and the improve
ment continued by the lOth Of that month the features
OF u thoroughly genuine, we'll proportioned boom >"
werc recognized aud ~ went has afforded cheerful
experience those interested In this peculiar KIND OF
trade.
n the matter Of rentals II Is stated That tho first OF
May showed an exceedingly large number OF honscS
drs To- 20 over unocrupcl Fof this ~ things
two reasons given The first l. that during Tho
spring buildings observed 10 he In course
OF constructions Into these people novel; leaving those
from which they rntirnl for rent. The second
furnished /. that tho aggregate Of persons leaving The
city, either permanently or FOR the summer greater
than heretofore and the season being unmarked 10y an
unusual iunnN strangers or by extraordinary nnm
her of changes. many houses left Idle. Meanwhile
however. current Of a substantial character has
been forming aud for the last weeks the real estate
broker, have had uuci they could do 10 accOnnO
date applicants Leonard MO1hy, OF No. 20 Court 81,
who does a large business In conversation with TgIl
UNE reporter. sad:
have been business here for fifteen years and
never have property any year during that
period than have sold within the past six weeks Ny
ra-h sales In the month OF September amounted TO
100000 In New York, OF course Tiers are plenty OF
which viii bring that hut THESE
sales represent actions averaging from $1,000
$1,000 ctcn. TINS In snmolhlng remarkable We ara
sciiIug both for Investment aud dwelling purposes
attribute to the fact that business generally mprOv
ing that money is cheap. and that people taking
advantage OF the low prices which have - long pre-
Vailed aud putting portion at least OF what they
have into solid real estate security"
As To the reasons which led TO favOritism for
brooklyn Mr.. Moody said that this probably
The first place to the Tor ready commun cation
offered by the Bridge, ami secondly tho completion OF
the elevated railroad The expectation that elevated
road would he constructed along FutOn-st ana Myrtle
ave- adng Investors to seek available properties
cont guOus 20 the lines and their erniu IT," said
Mr. Moody these lines built and station erected
a Myrtlc-avc and Alams-st. VIII not have houses
enough to 90 round" The localities which improve
mcnts most active In the sections east nj Bed
along NewY ork-aye. and Prospect Heights
A majority Of those who CIOO sing tie last named
region heretofore been residents Of this city They
attracted by the elevation ol the ground. HfOrng
not only iuc view Of the bay but excellent drainage
There also great demand "f houses ranging In price
from 5000 to $4,000 In South Brooklyn East Brooklyn
and the Hill IN the vicinity OF Oxfordsi In nearly
every case the transactions made for cash.
The renting demand Is also unusual Houses that be
disposed Of white smaller apartments and flats that rent
at from 500 To $50 per month are promptly nled
Another feature OF the improvement Is tue alteration
Of oil buildings and their adoption 10 modern cOpvcn-
cnfcs. Quite large number of OF the older frame
houses In The better portion Of the city are being torn
and brick buildings erected in their places Under
the circumstances, brokers having IrOOkJ property
sale rent naturally rcOiced IL these sub
stantinl signs of returning prosperity