New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-16

REAL ESTATE MEN DIFFER ABOUT THE OONDl-
TONS OF THE MARKET-How RENTALS
ARE BEING MADL
The first executors sale Of re! estate OF the fail
rasOn was he'd at the Real Estate Exchange las;
week where some residence property in the upper
part Of the city offered. The bidding on 1t was
spirited and there was fair attendance IN the
auctIon-room. and 50 the fall opening may be said
70 have been moderately successful. The hrst Dig
fall sale OF investment properties VIII take place
this week at the Real Estate Exchange. From the
number Of valuable properties advertised Tor sac
this fail and the increased attendance Whch Is
,,,ced at the auctlon-rooms every day there is good
reason to believe that the season VIII be prosperous
I'n,u ast week there had been nothing but indica-
tons to base an opinion upon, and while they were
favorable. ii Impossible TO t.! what the result
would be- There is a difference of opinion among
,e,, estate men about the ACCESSIBILITY Of making
,o.untary offerings in the auctionrooms al present
Some think the time is favorable to sell, and others
think the opposite.
RADICAL DIFFERENCE OF OPINION.
The ideas Of two prominent real estate men on
the condition OF 4 market were brought out IN
court as; week when the heirs Of the Benjamin
Richardson estate made an application for the ad-
iournmen; Of the sac which had been advertised
for This week. on the ground that the time was not
propiiious for auction sac OF real estate ms
was supported by affidavit by James L. Wells
which in part as fo.-ows:
have had during the present summer al east twenty
parcels OF va.uab.e property paced IN my hSh us
ADVISED my customers that the present was a very
uniavorab.e time for the sac OF any such properly
AZ pubic auction. and that unless favorable prices
coud be obtained at private sale It would De Jar
advisable in my opinion 10 dsf bs Su ucnr s
During the present summer have conducted fever
auction sa,es of estate than in any summer FOR
TIE asst ten years. in near.y all the pubic
auction saes which nave come WITHIN my s eN-
per!ence and Observation more particularly qurlns
the past month Of August. the prices realized nave
been far below the actual va.ue OF the property
AT the request OF the executors OF the estate
counter affdavits were presented by George r. Read
president Of the Reai Estate Exchange and by other
rea. estate Mr.. Read said:
have been president Of the Real Estate Exchange
ard Auction Room, Limited Toy nve years, ana nave
e.,y Of New-York Tor twenty-seyen years am m
familiar with The value Of rea estate IN me city OF
New-York and with the prices usually oDianod ,Oa
slch pG9per az Gesrrbei in the Bin annexed to
this affidavit vii bring as high price at sac ,se
j. Is also my opinion that further adjournment OF
VII inilre the chances OF selling the property at
good price at any time in the near future.
Many real estate men have advised their Clients
not to sell their property until after October J. ana
In some cases not until after the fall elections IL is
maintained that the investing pubic Is TOO Huch
sngrossed with politics at present TO go mo 'he
rea. estate market. and that the conditions IN the
city and State wiz tend more toward prosperity
WOULD-BE INVESTORS TOO GREEDY.
Al private sale there was fair amount OF Dusi-
hess transacted In the last week, and NUMBER
negotiations Of big deals were put In such
saape that they will be brought TO close III 'he
course Of a Jew weeks. There seem TO be enough
buyers for every piece 81 property that ~ oHereu
at private sale, but the principal difficulty appears
70 De IN the lack OF coincidence in the views "a
tne seller and bidder about the price SOM Pe0p,r
VINO want to purchase properly are iookns b iJr
sdcrice bargains. Tney too fnucn TOT tneii
money; Ihey want more for their money liaI'
% 'ne conditions caused by the nara unes maa wal
- Cm"ers cannot give me mouse Ioi d P os
barn. but yet that is what some woud-be buyers
ueHdhd 10 make the sale OF real estate DOOM
heeus IN many cdses. moderate and sensible con-
SESSIONS on the part of owners and more courage
anu commence on the part OF investors. Inc Pii-
Sipai TOPIC OF discussion among realestat uedies
yesterday, Of contemplated purchase of the quad
rWep,S pee OF GROUND bounded on the south ty
on the east by Fifth-ave ' and d on the west by
ioroadway, by "A syndicate Ii Is rumored that IL
buildings now standing thereon and TO erect an I'M
Mehse ONCE building with stores on the first moor.
CONDITIONS OF THE RENTING MARKET.
The fall renting season. which has in the last
TWO years overreached the spring season IN point
OF activity. has begun To develop into some
thing like normal cond;i n far Inquiries
Tor houses concerned. and brokers report In
creased business in all parts of the city In low
priced properties. The fall renting season II sup
posed 10 begin about the middle of August. but
tnis year there few signs TO show that Il
.cr houses and apartments Is better than 1t was
year ago. but results will NOT be better unless
snd this yesr foa are Concessions favoraby con
and 1900 ana even in those higher prices
Dut the demand for such houses u small and con-