New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-29
DISCUSSING MAY RENTS.
NOT SO MUCH FLUcTUAT1oN AS USUAL.
eooD sEAsoN roR soARpINe HousEs-" MovISo


seem to be undergoing little change for May as
compared with recent previous years. Fall as
compared TO May, Is becoming more and more the
season for renting so that owners are holding
heir property at the usual rental value In the
hope that in the autumn they may do better.
Rentals are woven into the warp and wool oil
the present business outlook, which seems to be
summed up in the idea Of abundant hope, with
precious little activity" One feature In house
rents is the tumble in demands for fat and apart
ment houses especially the more expensive ones
Real estate men say that not more than half the
flats are full, and that even these have been
secured at greatly reduced rentals.
At the Office Of V. X. Stevenson d Co houss
and business rentals ere taken charge OF 5y MI
Douglass and Mr.. Curtis respectively. Mr..
Douglass said that there was marked change
in the way OF house rentals. People are renting
less and less In the spring. said he, and those
whose rents expire now are in great many cases
storing their furniture with view to living IN
the country until fall Consequently, houses that
rent from $4,000 to $4,000 year are many Of
them to remain unoccupied until then The
owners will not reduce the rent, for they prefer
to wait until fall, in the hope that matters will
mend. Still, rather than lose tenants, they have
in many instances reduced the rents. Apartment
houses are not more than half full, and the apart
ments that are rented are let at greatly reduced
prices The apartment-house feature has been
overdone and besides people ore going back to
boarding houses; they find that they can board
cheaper than they can keep house in apartments.
The clearinghouse accordingly doing better
this year than before in a long time; It is a sea-
son to delight the soul of tho boarding house
keeper
BUSINESS RENTALS ABOUT THE SAME
Mr. Douglass said that rentals Of business prop
erty remained about the same, although owners
were loath to let o tenant go, and preferred to
accept slightly reduced rent. Broadway prop
ertv was not doing as well in the down.
town districts as it would seem 1t ought
to, in view Of the rentals in the
side streets. In Duane-st, for instance, there was
a business place which rented for $4,000 while
another of almost the same frontage brought IN
no more in proportion. The time for business
renting was November for occupancy on January
/. and in February for occupancy on May l. At
E. H. Ludlow & Co.'s it was stated that house
rentals remained about the same. The changes ON
May would be small in number, compared TO
those in November, which was now the time OF
year for the renting of houses. The general view
of the situation was essentially the same with
this firm as with V. 4. Stevenson Co.
Edmond j. Sause, ir., of Richards IL Ssuse,
said that there was no perceptible difference IN
rents now from what they had been " There nre
comparatively few changes at this time OF the
year." said he, as people whose rents expire OF
this season go more and more to hotels Tor
time, or into the country for the season untli
October The accommodations OF hotels arc be-
coming so great that people do not look upon
May any longer as the great moving time. When
their rentals expire they store their furniture ana
20 to hotels or take houses for six months IN the
country With such hotel accommodations people
need not hurry from one house into another; they
can take all the time they want and look around.
1t is becoming more and more the usage also,
for families and single persons to 90 into the
country May /.
SMALL, HOTELS GROWING IN NUMBER
If they go to hotels-and the number OF small
hotels is increasing rapidly-they may rent along
in May, or not until June, and If they go into
the country, after storing their furniture-which
is done largely now, and more and more-they
come back when they please; II they return IN
September they may go to hotels and take all
the time they desire for looking leisurely around
until they find such accommodations, rents and
houses suit them. Then they move In Ihe
result is that there is now really no distinctive
time of year for house-renting The old-fashioned
May moving is no more. People take houses in
every month of the year with equal indiference
unless IL be III the mluule Oh NlhOcr, anu SNch
then, with the big vans now IN use, there is no
difficulty that score. With oil these elements
in operation, you see that people have no reason
for moving at any particular time OF the year
and then, besides, they thus have 1uu opportunity
to get satisfactory rents.
This feature Of going into the country for SIX
months" said Mr.. Sausc IN closing is settng
to be a marked one in New ork LIE Ana one
great reason is the health OF children. New iGrk
has been growing up INTO the ar 80 nun ~
inch of available space, latitudinal and longi,
tudnal as well as altitudnal, has been encroached
upon so much, more and more, that people on
out of their back windows with their neighbors
on the south side, showing that even the old
fashioned yards are disappearng-the result Is that
fine children of parents with fair income, or even
large ones have no yards TO play IN, ana i've III
the upper air with only the pevements to play on.
CONSEQUENTLY, parents wish to get their children
into the country to give them a chance 10 touch
mother earth and blade OF grass This is
one great incentive for this May 10 October exodus
and as have said the great hotel accommodations,
the big vans and clean, fire proof sterage-houses
contribute to make IL an easy matter TO store
goods while the family goes into the country for
MORE RAPID TRANSIT WANTED
"Therc is only one thing to complete these
onnortunitics for country air, comfort and bappi-
ness and that is rapid transit railroad facilities
II Heman Clark will get his $50 feet tunnels up
and down Manhattan Island, with branches max
ing Long Island and New-Jersey part and parcel
of New-York, the amount Of travel to country
homes will be increased in an astonishing measure
1t would be difficult to imagine the effect Of such
underground railroads placing the City Hall within
from ten TO thirty minutes of radius Of fifteen
mics Thus the peculiar topography Of Man
haitian Island would be destroyed and comfortable
homes with moderate rents, with abundance Of
pure air and greensward for children would be
within our grasp. Real estate men are looking
v,ith great interest upon the project The ques-
ton OF Nav rentals and Of a possible increase In
rentals would then be settled
4 member OF one Of he leading real estate
houses in the city stated that there was no change
in the rentals OF houses at the present time, and
that there would be none at least until fall even
if then, which was doubtful owners were glad
to rent at the old rates Inc As'oS mad maze
no change III their rentals
Leopold Friedman, Of LespinasSe q Friedman,
said that rents Of Fifthave houses had gone unano