New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-01-25
GOOD RENTING PROSPECTS.
BUSINESS PROPERTY LOOKING UPWARD.


ADVANCES EXPECTED IN MANY cAsEs-So CHANGE
IN DWELLING KrSTs PROBABLE.
Among the departments of business which
reflect quickly better times probably the real estate
market is OF the most prominent and no more dell
cate barometer Indicate Improvement can De iouhu
than for stores aud Offices As this the view
held by real estate Dealers they lind considerable salts
faction in reporting the coming season promises 70
ace an advance this cass Of property Although iui
activity will not be reached for some weeks yethereha'e
been enough developments TO warrant forecast OF the
nrolable results Of the season. Regarding dwelling
properties dealers somewhat indsposed to speak as
the renting of houses and fats lags month or more
after business leases have been arranged. Yet even
here the sgps said to point to healthy actVy ana
maintenance except particular cases. OF the range
of figures OF spring. In every direction Of the real
estate market brokers seem to see CONDITION OF lhn.s
which more than gratifying.
To summarize the statements OF many brokers ana
dealers here is about how the market looks and is:
Business property outside OF the dry goods district
already renting at advance. For retail store prop
rrty In the principal and cross-sreet thorough
fares and welstuated downtown stores, below Canal
ST. owners are getting a considerable advance In
oure are coming In earlier usual and tenants are
seeking an early renewal of their leases and in only
few cases do they demand for an advance Land
lords arc committing themselves to long leases OF
this kind Of property except At advancing rents each
ing people to the city and encouraging the starting Of
new enterprises that when the demand under full
way IL will probably be most excellent one III tno
lry-goOds district possibly an exception may De taken
to the general outlook and 1t sexpcted by some brokers
that rents will show little falling or As one man put
H. "When that trade good II is generally very good
and rent object, but when trade is not up 10 the
mark rent is closely looked after 1t becomes an im
portant item Tenants have, however shown that they
are looking a future Improvement IN that they are
trying TO secure long leases the prevailing lower
rates Office property renting well. 50 far as the sea-
son has gone and in good localities advance, 1t s
said is easy to get Lower Broadway is attracting an
increasing number Of who do not feel able to
pay the rates asked in the well-settled office centres
The desire OF people to enjoy all the advantages OF
modern equipped house and the constant expansion OF
the population sustaining the rent market for dwelling
property aud while the generous supply OF apartment
houses prevents an advance as rule brokers expect
to see last years values upheld.
Horace = Ely who handles much office property said
on saturday 1t too early yet to tell much about the
business and somewhat IN doubt myself about rent
lug prospects little business Is OF course benR DONE
but the movement IL not fun under way do not look
for any material change from last years prices put
think that large business Will be transacted. Trade
generally imp owing and people are more Inclined 10
expand thelr business while Others are emOdrAing 10
new ventures, 1t IL natural To OOS tor s0he improve
ment Ny Impression is that the business area
is sprcacins that tenants are more willing to go out
side OF he old limits In order To srt lt9 lo"er
few days OF bright weather Will start the season up
AT E, IL Ludlow c9,s soas it demand wai stated ssr
wouId probably be 4 better renting demand when the
season opened Prces would proraDy De 10 those OF
last year Houses renting from $1,000 TO @3oOo were IL
yruonI sh said that he found larger Inquiry for
offices than usual at and that he hHl already
-u. ceedrd Ia making several leases tbat NOnu nave
been impossible ago. Tenants demanded modern
Hic,. and would TAX, nothing else choice locations
even commanded premium Rents generally however
would about the same rs last year IOr snort terus
INIT
property the avenues and below ChamOeIsst rented
H. thnngh that tneit most hopeful feeling aiuOnG
business iirn, generally ana thsy seemed ea4er 10 Sc
u E"mlne brown. at Thirty thrist and Broadway,
expressed thcs. views " tnnk that the real estate
outlook i exc client III every tcspeDt @
both FOR properly for sale all To rent lherc soOI
demand for wcus houscs all the way up from 9I@OOo
Ia 100 900 don't know whore 1t all comes frOm and
"eT,us lie c,y rates OF money hayo ed to some specu
iatou but in main the business Is heaithy IL WIZ
continue % improve, CO., ui'ess f, - ] ne ~ 49, i ,
with building operations. look Tor an afauce III puS
u.ss rrnp,vT ON the thorOught res. Already many
Of my tenants have voluntarily offered an adVahce
OF 10 to - per cent for the prompt renewal
OF Their leases. Dwelling property viii probably rent
well and up To last years price-."
MORT, Is. Bronuer. Of Morris b. Baer y Co.. thought
could not fail to help thG reet eita!e inaJkei
on who could not afford to 1--we here when times were
dull aud there Is strong activity IN the safes narNeL
Tho t that many persons buying their own houses
be they small are, shows there Is an improvement
IN affairs. There - Lreat inquiry Tor properly AZ thls
So SON. both for improved ana unimproVed. Tue west
side from Fftynluth-st TO ne-hundrel-andtenth-'
hn. rnoyrd almo, boom. Values In that part Of the
,,ty mn ave advanced - 10 30 per cent within year.
There VIII b. many changes this on account 0f the
Tendency of tenants houses with all the modern
improvements. do not expect an advance IL rents IOr
dwelling rlperty much greater activity. IN a
" wed leases at an advance where
the lenses were made years ago On leases aue
WITHIN the last two years have made no advance.
Tloie is "A great deal capital seeking investment in
real estate as il has demonstrated that there is
nothing as safe OF return as real estate Is aud
untIiu. with 40 good future There Is no danger OF
decline I'm tue rents OF apartment houses SO many OF
them bait that they nave mot oeen renting rs wen
IA they should and there will be no material change
from present prices -, 8,
A welLknown Broadway broker pointed out that all
the prominent buildings IN the wc-settied business
centres were f that low rents IN lower Broadway
say below RrctOT-st.Wcre beginning 10 atlract ten
ants Tue companies cOhtuued To uilI DOWN
WI ia srarcu of Offices " Good store ana choice once
rroretty " ne said. "wil command higher prices this
ye,r-,iy q - per cent as the extremes The appear
1uces All around against decline IN any klnu or
propery and landlords better of III thus respect than
thry were last season. Then General RAID was made
for reduction of rents every where Ihe tendency OF
he frat class retail business district Is upward Ithnk
tre lluiits soon will DO from rwcntythird To Forty
second Nav will witness many alterations IN Filth
ave buidincs and at least half dozen houses III Forty
ecoud L. are Deng altered into stores. The building Ol
The railway through that street will eventually attract
shops and shoppers there While real estate remains IN
such healthy condition as 1t is Ia now. you need not
look for declining rents except from special ana lhul-
yldual causes
CELEBRATION BY THE SCOTCH PILGRIMS.