New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-06
REAL ESTATE MORE ACTIVE
A DULL SUMNER MARKET PROBABLE,
HOWEVER.
1.ANn1oRDs WHO FAIL TO REDUCE RENTALS
HAVE EMPTY HOUSES ON THEIR HANDS
TRANSACTIONS OF THE WEEK.

HAVE EMPTY HOUSES ON THEIR HANDS
TRANSACTIONS OF THE WEEK.
BY a comparison of figures. the real estate market
showed tendency to move actively last week Inc
transactions in the auction rooms amounted 10
s1o.924 against $939,6S2 in the week before ana
s7o2537 in the week last year. small Varia-
lions in figures however do not indicate that there
has been any material change in the condition oil
the realty market In the last week little better
speculative spirit noticed among buyers put
the same old" dulness which has been the promi-
nent feature in the market for the last twelve
months was in evidence and there seemed little
hope that it would be banished for some time 10
come The usual summer dulness promises 10 as
sert itself with more force than usual and the only
hone Of real estate men is that by the fall some
thing will be accomplished by Congress which VIII
put all forms of trade on better basis again me
speculative spirit be revived before free oner
incs will be made in the real estate market Inc
majority Of the properties offered for sale since the
times of financial depression began have been I'M
der order Of the court, and a market made up OF
foreclosure and partition sales cannot be an active
There have been many chances for excellent bar
gains at the auction sales recently. and people who
are able to let their money lie idle in these pur-
chases until better times at hand will not regret
going into the market 1t may be noticed that de-
spite all the adverse conditions and the general wall
of real estate men over their losses. II is
a rare FOR men interested III red estate
to make an assignment This is an excellent evil
dence of the sound condition OF the business. In
the worst kind OF times there is money to be made
in New-York real estate In all its many departments
RENTS MUST COME DOWN.
The necessity OF making reductions In rents mas
been strongly impressed upon owners this spring
ana every tenant in the city hopes that the lesson
has been that will produce practical results IN
the fall. There are houses and fat-houses in all
narts of the city which will be idle on the hands
of the owners during the summer. and the chances
are that they will not be taken in the fall II own
ers refuse TO make a sensible reduction In rents
Many people have refused to retake their houses
and apartments this spring because they could not
afford in these times, when incomes have been re-
duced by substantial percentage, 10 pay the former
exorbtant rentals Upon the refusal or Landlords
TO make concessions tenants have refused to retake
their houses thinking that by the fall there Will be
general reduction in rents on all classes or prop
erty The renting season this spring has been
failure. The fall almost always is more
active than the spring but despite this there has
been a great falling off in house renting In the last
two months from the same period in other years.
and there Is no reason TO believe that hgh rents
have not been the prime cause.
1t is TO the interest of real estate in this city
TO keep people from moving into suburban towns.
and unless they want to a large movement in
that direction they would better make decided
effort bring about general reduction in the
scale of rents. There many pleasing induce
held by the real estate dealers in suburban
towns to the high-rent paying city tenant, and
from all indications there to be much activ-
tty in real estate line in rural districts owing TO
the low rents offered. To Offset this the city owner
should do something practical or he will see many
desirable tenants go the way OF the "suburbanite.
Tenants expect reduction In rents 1t is their
right to demand It, and farseeng Landlords Will recog
nizt the justice of the claim. 1t has been pointed
out frequently in this column that owners will not
tn IN Tho a1if Of
they make judcious reductions in their rentals In
accomplishing needed reforms in the relation be-
tween landlord and tenant the frst-named should
put particular emphasis upon the necessity OF
making rigid scrutiny Of the tenants credit
PRINCIPAL SALES OF THE WEEK.
The house at No. SIG Fifth-ave., between Sixty
second and Sixty-third SITS. is reported sold by
Benjamin Stern to Elbridge T. Gerry at price
somewhere between $4,000 and slS5.0o.
Hoffman Brothers have sold for Jefferson NJ Levy
to Warren E. Dennis No. IS Liberty-st. the south
west corner OF Church-st, lot 262x53 The property
rents for 5000 a year, and sold for $4,000. This
cost $4,000 in 1885.
The fve-story brick building and lot lxSo2xl021o,
No. 10 Chatham Square. is reported sold by Abra-
ham Wolff for about $4,000.
Jefferson NJ. Levy has purchased the old Post
Graduate Hospital property s5xs2 in Twentiethst..
south side, 175 feet east OF Third-ave with four
story buildings for about 10000.
The four-story brownstone dwelling at No. East
Fifty-third-st. is reported sold by the Whittemore
estate to Frederick Galatin, for $3.50.
John n. Goldlng has sold the lot in F1fth-ave.. 100
feet north Of Sxty-thrdst.. 25x20, for Mrs. n. L.
Baylies to James p Kernochan. for improvement.
Dawson Archer have purchased from Gutwil-
ling Brothers fourteen lots the southeast
ner of Madson-ave. and East One-hundred-and-
thirfy-ffth-st. running through TO Parkave. terms
private.
1t was reported Friday that the Hotel Endi-
colt. at Columbus-ave., Eghty-first and Eighty
second SITS had been sold for $l,275,coo The report
could be verified II rumored that IL was
in exchange for a piece OF downtown business prop
John r. Foley has sold for William X. Aston No.
l36 Az East Eghtysx thst four four-story tene-
warehouses; 25x76xl00 feet each. for 10000.
The building operations in the week showed
slight Improvement, and there increase In
the number Of plans filed at the Building Depart
ment for new buildings. Builders and contractors
have not the amount OF work which they would
Ike, but from present indications 1t appears that
opportunities they Will have for putting in bids
projected buildings.
The Executive Committee of the new Building
Trades Exchange was appointed last week II
is made up Of the following; Warren a.
Conover. Charles 4. Cowen. II. A. Maurer John J.
w. Gaylor. Henry X: S. Williams. Mathew c.
Henry, George Moore Smith. Theodore w. Morris.
Andrew j. Campbell John A. Murray Charles 7.
Galloway and Charles W. 1den. President John j.
Stephen NJ. Wright and Treasurer Isaac A. Hopper
are ex-officio members OF the board.
MORTGAGES AND CoNvEYANCEs
The following table. taken from THE Record and
Guide" shows the number Of conveyances. mort