New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-22

and if we take time to think il over wonld rather
pay $4,000 rent for a comfortable three-story
house. that we can call home than 81 200 for the
| finest corner fiat for fiat is about as far re-
moved from home the steerage of an ocean
steamer is from the cabin. A great deal of money
has been lost In this city on flats, and builders
| are not over-anXious to continue the attempt to
force them down the threats of unwilling tenants
! A certain class of people will always live in flats
and children in them, but such are generally
| of foreign extraction. The native American
| wants house Of his own, and will have it if
| possible. 1t would seem as if the lesson of the
| last wear had not been entirely thrown away on
| spccuat0rs in this kind of property for we see
| a home district in region which a few years ago
| would have been given up to the usual French
colonization scheme. Nothing better could be
done for the good of New-York than this es-
adjustment of homes.
| In all the region Of which Eighty-frst-st. and
| Tenth-ave is the centre found great scarcity
| of houses to rent at from $1,000 to S., 900
| year In 1890, we were informed no less than
l0l three-story houses were built and offered for
sale. and by January over Sc per cent of them
| had been sold On the other hand. of 20 four
| story houses erected only 33 per cent had been
sold dwelling that rents for about
81. 500 a year will sell readily for from
satisfied with per cent interest their
real estate investments but it is doubtful if many
owners content themselves with anything like that
return In Seventy cighth-st.. west of Columbus
ave-. we found eight four-story and basement
brownstone houses, with threc-stOry extension,
built by days work. hardwood throughout, tiled
bathrooms parQuet iloors porcelain tubs, spacious
closets, etc, etc. at from So, 900 to $4,000.
These houses could not be rented at any price.
They are in the hands of spectators who will hold
them for purchasers. 1t is estimated that on such
houses q profit OF from $4,000 TO $1,000 each is
made. If desirable sites can be obtained there IS
no better business than the speculative building OF
small houses.
IN HARLEM.
We came upon a miscellaneous assortment OF
houses and flats in Harlem. In few instances we
found rents slightly below the figure of last year.
but as rule there has been no change. The falling
off is mainly with flats and apartments The de-
mand for houses is steady and brisk, without any
immediate prospect of rapid transit. Fewer flats
are building than formerly. Real estate agents
are advertising for private houses to rent from
$500 to 81 800 to supply the demands OF their
customers. Near ACKNOWLEDGEMENTS
and Seventh-avc. first rate fourStory houses were
found at 81 500 and 81 500, and prices range from
those figures all the way down to S4Jo' the
omount of rent being governed by the location.
MANY agents that were approached had rented al
most all the property on their books. The de-
mand for three-story houses, renting for about
81 200, is equally as brisk here as II is in the
West End district In Observation-Disclosures
ffth-st, which is the Broadway of Harlem ana IS
devoted largely to business rents are from . to u
per cent higher than they were year ago, ana
those in the know believe the advance will con-
gor-
ncr store. 75x1OO feet. fetches $4,000 year.
and rents for smaller places of business range up
ward from 50 900. On all tie avenues from
Third to Eighth the outlook is good though
rentals are not nearly so high.
on THE HEIGHTS.
Building has not been ovcrdone on the elevation
known as Washington Heights, which is destined
to be one of the most attractive home centres on
the island when adequate rapid transit is realized.
The demand for 81 900 houses is sustained all the
year round, ana the building of considerable
number this season is contemplated Rents are
about the same as they were in $50 Some hand
some residences have recently been built in ~.
Nichoas-ave and the Grand Boulevard which rent
for 81 900 TO $4,000 year
THE ANNEXED DISTRICT
Rents in the Twenty third and Twenty-fourth
Wards are not active, because vacant houses are
scarce. The market there is a buying one. we
were surprised to find that the amount Of building
done in 500 had been greatly overestimated
Most of the people inclined to buy are investing III
unimproved property, with a view 10 holding 1t for
the rapid transit boom," which they say Is bound
10 come Property along the line OF the Harlem
River branch of the New-lOrk, Ncw-llaVcn ana
Hartford Railroad is looking up since the agree
ment was made with the Suburban Railway Com
pany for running trains across the river To the
station i'm and-twenty- nlIltlS 81. ms
region has been neglected for years. Many owners
Of fine estates moved away because Ol thc dIIl-
Guilty Of reaching the city, but most OF them nave
held on TO their property believing III the colnlns
of better times. They now seem IN a far way OF
rcapine the reward Of patience ~ IS expected
that there will he activity in the vicinity OF Nor
ris Park this year, Mr.. Morris seems determined
30 make his costly clubhouse the centre OF at |
traction in the county. and may build 100 cot |
tagcs in the neighborhOOd The prospects are |
that not less than 81 5000 will be expended in
the Twenty third and Twenty fourth wards this |
year in the erection of new houses
Looking over the ground carefully we nave ne |
cjded 10 Semain where are for another year |
Moving is such a bother, and besides we are very |
we'll pleased with the Tenderlon Precinct. In
1872 there may be something thai Will induce us
TO go housc-hunting again: The changes tIat are |
constantly going on in all parts OF the cily are
puzZling in the extreme. We never Know wnai |
will happen next Finb-avc.. from Twcnty-third |
To Forty-second SITS, has changed and IS changing
wonderfully. On the West Side new ncighbor |
hoods are springng up all the time. NaiueS ana |
rentals are shifting rapidly up and down that |
il is hard 10 keep the run OF them All cacuIa- |
tons are liable 10 be upset at any time. Livery |
mart of the city is the outlook for rapid transit |
routes and values and rentals will surely change |
as soon as a definite plan ID adopted by tho C0m' |
mission.
RENTS DOWNTOWN.
The tendency Of rents in the lower part OF the |
city is upward. Whey new buildings are Of the |
RIGHT description there is difficulty whatever |
in filling them with tenants. 1t is significant |
that the newly completed structure OF the Union
Trust Company does not contain vacant Office
As q matter of fact every Office was leased before
The huldnp WAS finished IL is the right build |
ing i'm the right place. Near the Postoilicc. on |
the other hand in a magnificent building III which
Offices have been vacant for more tlah Il year