New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-15
TALKS ON REAL ESTATE.
RAPID TRANSIT THE CONSTANT CRY.
DEALERS FEEL HOPEFUL OYER THE SITUATION

DEALERS FEEL HOPEFUL OYER THE SITUATION,
BUT DEPRECATE DELAY.
James L. Libby, of James L. Libby & son. real
estate and loans. at No 10 Ccdarst says that the
statement from several real estate dealers TO the effect
that there people in New-lork who want to
buy property than there OF those who want TO SELL
is all wrong. THE supply is always greater than the
demand" said Mr. Libby, yesterday. There IS
desirable property for sale in nearly part OF New
York. Sales Mt present good and the reason for
the activity is the low rate Of interest. Money can
be had at good rates for sixty days
"From Sxtieth to one hundrcdth St. on the West
Side Of Central Park, good many sales are being
made, but do not think that private residence prop
erty ON the West Side of the Park will advance much
in value until the property the East side is built
up. But eventually property on the West side viii
be valuable than that the East side, there
nuisanccs there
"There is never any Hunters Point smell on the
West side Of the Park, Is there any foul air
there which comes from brewcries. Blackwes Island
and other places But what the West side-the prop
erty on the west side OF the Park | mcan-really
needs is rapid transit wp the Boulevard. | should
suggest that cable road be put in on the boulevard
cable road there would benefit the street much
It did Onchundred and twenty -ffth-St. 1 really
should not object 10 having elevated road the
Boulevard. The third track which has been added To
the elevated railroad system from Fifty ninthst. TO
wonderfully in that district. What New-Yorl must
have-and say must with all that the word implies
Is increased facilities uptown from the Battery. 1t Is
absolutely necessary and the sooner the better And
so long Il must come, let ii be soon New-iorl;
only grow In way, and we must hove rapid
transit in that direction. The city will never be poor
it is growing richer all the time, ana with the great
future that is before IT, matter Of money should
not be considered the cable road starts In
broadway II VIII b. a great benefit 10 business men
and tenant; along the street ana naturally property
will 60 up in price. The good effects Of the cable
Improvement have already been felt Broadway
Charles II. Lock. OF the rcal-estac firm OF William
p. Seymour. No. III broadway says that real estate
does not sell like wheat and that II makes him
10 hear OF the way who profess TO know some
thing about NewYork property talk about the real
estate market. :. doesn't fuctuatc in price I'm New
York like the cereals that sold In the wheat pit
every day. said Mr.. Lock- Property In broadway
today Isn't so much today and 100 per cent higher
or lower tomorrow. The New York real estate market
cannot be cornered and doomed like wheat. The
man who should attempt 10 corner the real estate
market Of this city would be regarded as lunaiic
New York property, OF course. will change In value In
certain localities Improvements take place. but
when hear talking about the roal-cstatc market
as II II were 50 much stock that IS being sold It makes
me sick"
Horace S. Ely. No. CO Cedar-st says that sales are
not what might be called numerous Just now. but that
the market Is steady. The renting business Is
especially good this year" he said Yesterday. land
tenants are easily found for downtown property. We
are renewing the old leases this year on about The
same terms We had last year. In some cases IAer'
Maclav. Davies 81 Co.. Equitable Building. say that
the spring trade In real estate has fully BEGUN VIII
,hem There IS no difficulty I'm getting loans now.
snd Mr. Davies Yesterday. " and business l. EOOd.
We have Just closed a number Of sales and have :,
Iarre number Of negotiations foot on the west
g. lote n, II for sale A good thing for Harlem prop
ery would be the raising OF the tracks oil the Harlem
pivcr Railroad 4 solid wall would spoil property
H. cnr+n,n tricts but the new viaduct scheme 10
raise The tracks IS a good one and the city ought TO
nav half OF tie expense