New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-13
CITY RENTS HOLDTHEIR OWN
FEW CHANGES ON THE LIST FOR MAY.


now interesting m1ny ew-Yorkers. 1t will
soon claim tho attention of a large majority OF
the city's adult population, and whether wei
come or not it is bound to come to the front
and to he considered by landlords and tenants
alike. 1t may be little too carly yet to cast
the horoscope, and many owners and real estate
agents think that they could tell more about
il in week or SUI But TRIBUNE reporters
Investigation of the subject shows q strdngly
unanimous conclusion in the matter.
Property below FIfty-ninth-st. will rcnt from
the first OF May next, when new leases are
made " practically The This Is es6ss ui w trs
stores dwellings, fats apartments, hotels, res.
taurants and warehouses. In the matter OF
ONCE rents there Is wider divergence Of opinion
tionabe local advantages the tendency Is decidedly
toward an increase of rents Certainly there
will be no falling of, especially in buildings pro-
vided with elevators and modern improvements
generally. In the Boreel Building for instance,
the proTIictors are cqualDIng' their rents, as
they term IT, This means that where tenants
have occupied suites Of offices for a term OF
years at smaller rental than has hcen paid Tor
corresponding rooms In other buildings in that
part Of the city. the rents are being advanced
In no cas-, are they being reduced
PRICES srIFrENISG DOWNTOWN
This rule it was found, was being applied in
nearly all the big buildings in the lower part
OF the CITY, devoted to offices, where the stu
alton and other attractions made them desirable.
In old-style buildings which have not been al
tered, in ont Of the way places, or without ele-
vators owners expect to make some reductions
but not large ones The great Equitable Build
ing, the agents Say, cannot meet the demand.
When changes in rent occur here they will always
show an advance.
Tenants OF one sort arc making an urgent
demand for d1crease Of their rentals, and these
are the occupants Of the large brokers offices in
the nejghborhood of the eA changes. They declare
a .lnN fl,utr &c
must be rednccd by May 1, or they will look
for cheaper quarters A. NJ. Arnebcrg, of f. ii.
Ludlow & Co., No II Pincst., said yesterday
that the brokers' request for reduction was based
upon the assertion that their business had de-
creased and growing less remuncrativc. lie
thought that the request would prove success
full because although the new office buildings
had been IN the main filled up, that had been
accom- plshed to large extent by emptying the
old buildings Besides, Mr. Arnehcrg said, in
some of the buildings many eligible rooms
were vacant because the owners bad put unreal
sonable figures upon them and reidsed to lease
them at a fair rental when it was offered The
past year, together with the many vacancies
in both the old and new buildings, he thought.
might save the brokers the payment OF cNorb-
liant rents during the coming year
The rents in the dry goods district have UNDER
gone no material change There has been some
complaint with iobbng and commission houses
that the business transacted does not warrant
the present rates, but it has not been sufficiently
strong to bring about reductions, except in indi-
vidual cases Certainty n, advance has been
made, except where leases were drawn d9rln 1e
the apparent BOOM IN the dry goods trade
last fall. Any attempt to advance rents here
or in the streets occupied by the hardware china
and glassware boot and shoe, iron, TIN, ana
other downtown dealers in heavy goods would
meet firm resistance. The general sentiment Is
that the constant menace to which the tarlH
is subject by the party in power gives an IN
rates until the danger is removed In contracts
still under negotiating the chances tend to re-
duced rather tlan higher rents.
NO ErLIrF FOR TIE RETAIL sToRFs.
Small dealers, especially in Third and Eighth
aves., complain somewhat OF their rents and say
that they find business slack and
money close Nevertheless, rents in these
thoroughfares rs we'll in Broadway,
Fourth and Sixth ayes, and in the Side streets
adjoining them, will pretty generally hold their
own. G. s. LcspnasSc, Of LcSpinaSsc x Friedman.
No. l 81 Broadway said or Saturday that whatever
Huctuation there mi ht be in other property re-
tailers must as a general thing sell their goods
unou the ground floor. Flats and Offices, with the
aid Of elevators could go far skyward, but Gus
toners would not leave the sold ground IN search
of what they wanted, unless sure OF bargain.
Rents of store buildings in New ork would there
fore in his opinion, show little dlminutlOh.
While tariff agitation would Doubtless cohLlhne
its evil effects all business the general opih-
ion seemed TO be that the stores must pay the rul,
ing rental. because ground property was united
in NeW-lork and retail transactions cOulu noI 70
on in upper stories
Rents for dwellings and flats below Fifty ninth
st in the most eligible streets VIII show NIUE
change, but will be generally firm at present
prices. The tendency IN some quarters Is tOWard
an advance, bat the opinion OF the informed
agents is that serious increase OF rents Is prc1
ticahlC at present. Dwellings which are leased
for s. 500 and less are taken readily, and the dis
position is TO stliIen rates. AT more than s21oV
a year tenants not so easily obtalnaolc' ana
difficulty is sometimes experienced IN renting
CHER priced fats. If any deduction from FAST
years rents is made it will he In these higher
priced dwelinghoISes NE large ap .H u, aI
other good situations will he held up firmly To the
present figures at least, and where leases Tor
Term of years expire the tendency will be 10 put
up the rents Flats continue to he In good de
mand notwithstanding the immense quantity OF
that sort Of rcntabc property erected during the
past year. disposition is noticeable and has
been remarked by many housc-agcntS toward the
elimination of the average private boarding
house. Many keepers al boarding-houses oil lhis
class who own their property are trying 10 sell,
even at lower prices than they paid n few years
ago in order to get out Of the business The reason
as given by them is that their customers have Tor
saken the clearinghouse TO 90 INTO ilatS. ms
action is placed TO the account OF both economy
and comfort. Many former boardcrs lit up
their fats for light housekeeping, so that they can
have breakfast and tea. If they wish II, Mt home
and take their dinners at hotel or restaurant
As a consequence the fats arc filling up and the
boarding house must go" This docs not refer
to the cheap or the high-cass clearinghouse, but
only TO the conventional one, which has been
feature OF Ncw-Yori for half a century
TRE BOON" on The WEST sIDV.
That immense new district on Tie West Side,
into which millions Of dollars IN new dwellings.
stores fats and apartmcnt-houscs were put during
the past building season, is more or less of a prob
lem IL seems to be filling up rapidly and agents
say that good prices are being obtained. Stores
which occupy the ground loOrS of buildings whose
upper stories are devoted to flats, bringing
81, 900 TO $4,000 for the corners and $500 to
81 900 for the interior stores, according 10 sit
uauon. The dwelling houses were in the large
majority Of built for sale and SAID to be
going oil rapidly and at satisfactory prices. An
entire row Of Queen Anne houses i'll Onc-hundrcd-
and-thIrty lifthst was sold after completion tor
from 81 900 10 10000 apiece. Such buildings
are not for renteXcept IN cases, and then only
for long leases TO approved tenants, who usually