New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-18


GOOD DEMAND-JUDGE INGRA-
HAMS DECISION.
The amour; Of business transacted last week
in the real estate market. both at public and prl-
vate sale. showed material falling off from that
Of the previous week and large decrease from
that done IN the same week year ago. The
auction sales last week amounted TO S399,l4o.
against 81 299 23S in the previous week ana
N3S442j in the same week in 1893. At private
sale the amount Of money involved in the trans
actions of the week S2,0S6,254, against S332S-
2ss in the preceding week and $S,I23.364 IN the
same week a year This falling off in busi-
ness does not however indicate hat the real estate
market has not improv ID. All the conditions OF
the market point to a steady Improvement and
brokers are confident of an active season. The
market is not so brisk as it was last year be-
cause there is not so much money for real estate
Investment on liberal terms. Owners are still
holding their properties at too rigid prices and
buyers have shown in most instances too niue
courage. The Record and Guide in comparing
the figures of real estate transactions for inns
year with last year arrives at the conclusion that
the market 5 less active by 80 1-3 per cent than
1t was year ago. This. however, is creditabe
showing as compared with any other business
of the same Importance.
DEMAND FOR WEST SIDE PROPERTY
There has been an exceptional demand for
houses all over the city and the tendency in many
quarters seems to be TO move from flats into
houses The demand for flats. however, has not
decreased; for whenever a fiat is vacated a de-
sirable tenant is readily found. Many people
who have lived in fats prefer to take mouse
If they can get a; the same rental as they
pay for their flats Brokers report active in
.,,,ir,. bo., hCth buy and
the West Side the demand is especially heavy.
Real estate in all its branches is active on the
West Side. Brokers expect that the value OF
property in that part Of the city will be much
increased by the building Of the cable road In
Ninth-ave. The Ninth-ave. cable road Will be
connected with the Broadway road by "A cable
through Fifty-third-st. Transit facilities are an
important factor In the development Of a district,
and as soon as the methods Of getting about
In this city are perfected there will be a marked
increase in the value Of and demand for prop
erty on the West Side well as in every other
part Of NewYOrk.
JUDGE INGRAHAMS DECISION.
The refusal of Judge Ingraham to set aside
the sale of the Hotel de LOgerOt was cause OF
general satisfaction among real estate men The
opinion Of the Court establishes clearly the rights
Of bidders at legal sales. when all the usual con-
ditions Of the market have been observed
Judge Ingraham in his decision. said
IF bidders al judicial sales are given 10 under
stand that If they make a good bargain the
same is to be set aside. while If they make bad
bargain they are 10 be held as these purchasers
would have been held. if il turned out their BID
was In excess Of the value Of the property legal
sales would become a farce. and instead of en-
couraging persons wishing 10 purchase real es-
tate In buying at such sales II would nave the
eicc' OF preventing any property from peiiis
soid under the judgment Of the courts. Inns
ieeislon In favor Of the defendants was SAILS
factory to real estate men in general
TRANSACTIONS AT PRIVATE SALE
The principal sales Of the week at private trans
action were made north of Fify-nlnth-st. The
transaction in that part Of the city was largely
In residence properties and in the majority OF
sales substantial increase was shown In the
values OF property sold. The largest sale or the
week was made by John Petit. who sofa Ior
tpout 100000 the siX-story brick and stone apart
hent house known the Essex at Coluhlpus-
ave. and Sixty-irst-st This same building was
transferred on January 10 to Mr. Petut by Joln
-. Smith In exchange for the ONCE puiiuins
known as Nassau Chambers and Mr. smith then
transferred Nassau Chambers 10 Lew r. morton
IN exchange for sixteen apartment houses on t ,
"est Side IL was reported In real estate ciISies
on Friday and Saturday that large deal hau
been made In the drygoods district Tor szoo.VVV,
Inc brokers said TO be interested In IL Wouiu
neither deny nor affirm that such deai hao