New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-13
REALTY IN BETTER DEMAND.
THE MARKET SHOWS MORE STRENGTH
AND ACTIVITY.

sALE-BuILpING OPERATIONS ON THE IN
CREAsE-sALEs OF THE WEEK.
There was a decided improvement in the realizes
tate market last week. and the dulness which has
been such prominent feature In the last elght
months or not so much in evioence. IN
transactions at private sale there was an amount OF
activity that has not been seen In many months, ana
IN the auction market there a greater DISPOSE
ton on the part Of buyers to gather in the GOOD
bargains which were offered. There now seems d
fair prospect Of a comparatively active summer IN
real-estate transactions and brokers who had lost
heart more than over the poor times are now
figuring or all sorts Of deals which they hope to
bring to a successful close. The dealings In the
week. outside of the auction-rooms. were unusually
large and capital from other cities found It's way
into New-York brokers hands for investment ana
speculation.
TIL. rsnid increase in the value Of NewYork realty
WAS shown in every sale OF the week, and its use
funess as an investment or as a specuia' on io'
quick profits was amply demonstrated. Ihe' is nv
city In the country where real estate Is 50 Vauaoe
and where so much money can be made IN III ana
despite the dull times, 1t holds Its own and brings IN
bir y.turns 10 investors. Many people from otner
MIA, q who had money to invest came mere last
veex and ventured into the rsa-estate Market anu
although the movement may not continue throughout
the summer there is reason to doubt that in the
fail a vast amount of capital will flow steadhy INTO
New-York real-estate property. and that the market
will have recovered the serious effects of the
times Of financial depression
A REASON FOR THE INCREASE.
One reason Of the increase in business last week
was the disposition the part OF owners to ease
little In their idea of values, and to put their prop
erty at prices which made it object TO come into
the market As long owners do not get an ex-
asserated idea Of what their holdings should be
sold for. live real-estate market is probable
An encouraging feature of the week was the large
increase In building operations. In all parts or the
city there was a general improvement. and builders
who have had little work were able TO make con-
tracts at profitable terms Much OF the property
which was bought in the week for improve
ment There is at present great activity all over
the city in the work of taking down old buildings
which will be replaced by modern office structures.
and there is also big movement In the building OF
private residences and lighthouses.
II was rumored in some circles that quiet reduc-
ton in rents was going among owners who have
realized the folly of their notions Of what rents
ought to be. Such reduction should be general in
all parts Of the city Persons who are investing In
houses and lighthouses for the purpose of letting
them should bear in mind that in order to get
tenants for all their property they should make out
leases on different scale from that which has been
current for the last year Renting this spring has
been the most unfortunate feature Of the market.
Brokers ind their books crowded with houses and
Warehouses; and the only reason for this is that the
rents are too high II is not to pull rents
down TO a figure which will attract an undesirable
class Of people but 1t is necessary to make reduc-
ton that will keep people here whom the city needs.
There is a big movement on foot in suburban towns
to get NEWCOMERS TO make their homes there. and
the exorbitant rentals they forced TO pay here
viii benefit the country towns at the expense OF
New-York.
TRANSACTIONS OF THE WEEK.
The sales in the auction market amounted in the
week 10 s509,927 against Sl10i.94 a week ago. and
1887 in the corresponding week last At pri
vate sale the amount involved aggregated ,07o55S,
as compared with sl.7sa7oo in the week before. The
building operations showed increase OF s2.343 $50
over the previous week.
Richard V. Harnett G. Co. have sold for John
Petit to Theodore A. Havemeyer. of the American
Sugar Refining Company. the Bennett Building. or-
cupying the block on the west side Of Nassau-st..
between Fulton and Ann SITS. for N5ooOO0
Samuel and Henry Corn sold for about $4,000 the
new building No. l39 Fifh-ave. They Sold for about
Qz5,o00 the business buildings Nos. 40 and AZ West
Twenty-second-st and No. 20 Bond-st., for $4,000.
and they purchased Nos. 81 and 90 Fifth-ave. ana
nine American basement houses the north side OF
Seventieth-st. beginning 100 feet west Of Sherman
Square, for about $4,000
John r. Foley has sold for John Petit the Hudson
Building property. being the northeast corner of
Hudson and West Thirteenth SITS. extending through
TO No. s42 West Fourteenth-st. to Western cap
Brothers have bought S s.1. sos snnss
property for about $4,000 =, .u :.
John N. Goidng mas solo Tor Dr. u M BEL 10
John J. Emery two lots on the north side OF Sixty
eighth-st. 200 feet east Of Fifth-ave. for $4,000.
This is said be the highest price paid for lots In
this part Of the city.
st. Pauis Methodist Episcopal Church has pur-
chased from Frederick p. Forster 1--WE lots the
northeast corner Of Eighty -s,xth-st and West End
also from William w. Brewer two lots adj
Joining In Eghty-sxth-st.. beginning 100 feet east
OF West End-ave. The plot which cost about Sl25.
schoolroom and parsonage The church occupied
the site of the United Charities Building until its
purchase by John 8. Kennedy. for $3ol.oo0 for the
latter building
J. J. Plummer sold 70 John Casey TOT the Maoi.
toumbus-ave: and Eightyfourth-st:, for $40. 900:
for william Miller to William Jones No 867 Column
bue-ave. hve-story hathouse for 1885, for John
Livingston No. SIS Columbus-ave.. a hve-story store
6af- Mama forf nd for r. w Thedford