New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-04-01
TRANSACTIONS IN REALTY.
THE CONDITIONS IN THE MARKET FAVOR
ABLE TO IMPROVEMENT
RENTING SEASON UNsATIsrAcToRy-HIGH PRICES
AND THE REFUSAL OF OWNERS TO MAKE
CONCESSIONS THE CAUsE-sALEs

AND THE REFUSAL OF OWNERS TO MAKE
CONCESSIONS THE cAusE-sALEs
OF THE WEEK.
The real estate market last week was some
what improved as far the volume Of business
was concerned There was a large increase in
the number Of transactions in the auction mar
ket but most Of the sales were made under
foreclosure. Voluntary offerings were few and
those that were made were Of little account
There Is some money being made In real estate
sales by careful spectators. Numerous good
bargains are offered from day to day and in
most cases they are made at slaughter figures
Many people who are looking for permanent in
vestments are now in the real estate market and
the man who can look ahead a little sees sure
and safe bank for his money in realty. With
most OF the conditions favorable to the buyer. II
IS surprising that more money does not come
into the market. The sale of residence property
was almost stagnant last week. and brokers
ported great inactivity in rents. Private trans
actions were not so numerous as in the previous
week. and with one exception involved only
small amount OF money
SALES THE WEEK
The sales in the auction rooms amounted to
81 S45 $50. against s32S GIG in the week before and
against s2.60S go in the corresponding week
year ago. The sale which promised to be the
most important one Of the week was that of the
Dore Lyon properties. The sale was not a sue
cess. owing in part 10 the heavy mortgages
There was considerable surprise expressed that
the bidding on the property was not more active
and the action OF the auctioneer in withdrawing
the majority Of the property was considered
wise The sale OF the bulkhead and pier at
Morris-st. and the North River to the Penn
sylvania Company for s423,2O6, the largest
fourth Of the total business. The principal sale
of the week at private transaction was made on
Friday when Adolph Herbs sold the property
at Nos. l. $50 and 1856 Broadway for 900. Two
years ago the same property bought for
$S75000 The plot at present is occupied by
frame and brick buildings. The purchaser will
erect 1t is said an apartment house on the site
The Warren-st. property. sold by Hoffman
Bros. two weeks ago, was No. so, sold for Jeffer-
son NJ Levy. Mr.. Levy mas since then purchased
No 20 Warren-st. 25x1oO. with five-story build
ing. The Murray-st. property reported sold by
Hoffman Bros last week. is said to have been
purchased by Banks Bros. the law-book sellers
who recently sold their building and lot in Mas
sau-st. 10 the American Tract Society The
Murray-st. property runs through to Park Place,
and cost them about 5000. 900.
Charles Zimmerman. the tenant in possession.
has purchased the southwest corner of Maiden
Lane and Wiluam-st 24x42 5x34 7x444. from the
building this plot. but the purchaser disclaims
any intention to improve il.
John r. Foley was the broker in the sale OF
No 1O4 West Eightieth-st by Frank l.. Fisher
to Miss Beatrice Cameron The buyer is the
wife Of Richard Mansfield.
QUESTIONS OF RENT DISCUSSED
The subject Of rents in lighthouses. apartment
h ,uses and small houses is one Of the important
topics Of the real-estate market at present. The
time for making out new leases began month
ago and will continue until May 10. So far the
renting season has gone forward unsatisfactory
to owners and tenants. Owners want higher
rentals or at least the same rentals as they have
been receiving. and tenants want reductions This
being the case there has been great hesitancy
among tenants to renew their leases They are
holding off until the last minute in the hope that
rents will be made to suit the times. Rents must
come down Is the motto of people who i've IN
rented houses. Landlords. however. are unwil-
ling 10 make concessions except In rare cases
That landlords of fiat-hOLses and apartment
houses can reduce their rentals without loss to
themselves is an indisputable fact That this
kind Of houses profitable no one doubts VINO
has taken the trouble to see how many OF them
there are in this city. Their number is constantly
increasing, and in some parts of the city three
quarters Of the buildings are lighthouses ana
apartment houses. The majority OF them are
where people Of moderate means live and as the
people OF moderate means are the ones upon
whom the effects Of the hard times are the heaVi-
est they are the ones who should be considered
by landlords in making out rentals. BY reducing
their rents landlords will still be doing business
a
in sympathy with the tendency of the times,
which is toward lower level of prices.
GOOD TENANTS PAY FOR BAD ONES.
One of the practices Of some landlords which
cannot be too bitterly condemned, Is the one
which they impose upon honest tenants IN order
to secure themselves against the loss due from
had tenants. There is. unfortunately. large
number Of people who live in flats and apart
nents who have habit Of Jumping their
rent or getting far behind in rent that lahu-
lords are willing to let them depart without max
ing fuss because they know that the e1orpl-
tant rental paid by the honest tenants will make
I'D for that which has been lost by the disnonest
ones If there are five apartments rented, ana
two of these bring in no money because o aris
tenant has gone without settling, the landioIu
is still doing business at profit from the rentals
Of the other three in many cases.
Landlords complain that there Is no remedy
against this kind of tenant. There is remedy
and II can be applied by the landlord before ne
rents his property. IL is a simple one; anu -
used with excellent results in all other Klhus vi
business 1t Is to make a rigid scrutiny OF the
tenants financial standing before CONTRACT IS
mHde with him. There are simple methods OF
finding out what a man is and who ne Is, anu
II landlords would do this they would not pe
forced to complain about 'rent-jumping zen
ants A man who wants to enter mo BUSINESS
deals has his credit carefully investigated pc
fore he can successfully accomplish what ne ue,
sres It is merely matter OF good business, anu
~ landlords would find out about tnelr tenants
before taking them in there would De more
money made and less cause for complaint from
all quarters. The present system Is ''S'o"'
one and should be remeded.
AN ASSOCIATION TO PREVENT RENT JUMPING
There was recently formed in the upper part
Of the city an association of real estate brokers
and owners principally for the purpose OF bring
ing to an end this pernicious work, and IL Is 10
be hoped that every owner and broker VINO IS
interested in the welfare Of the business VIII
take a firm stand against "rent-jumping ten
rhO