New-York tribune., 1894-04-29
OUTLOOK IN REAL ESTATE
A WEEK OF SMALL TRANSACTIONS, BUT
FAIR PRICES PREVAIL.

MARKET-BUILDING OPERATIONS on THE IN
CREASE AND a GENERAL IMPROVE
MENT IN ALL DEPARTMENTS
OF REAL ESTATE.
The market for real estate last week not
active. although the transactions were of good
class and fair prices prevailed There seemed TO De
a greater tendency on the part of buyers 10 DID on
properties, and not so many offerings were with
drawn as has been usual in previous weeks re-
Gently. The total number Of transactions in the
auction market and at private sale showed falling
off from the preceding week. The auction SAFES
amounted 10 s9396S2. against NlN,&i a week ago
and s754, ,495 in the same week last year Al private
saie the aggregate was S29S7,2jO against Ss55o IN
the preceding week. There were several good bar
gains Offered al the auction rooms. and an instance
of the faith placed in the property now to be nad
at auction the sale on Monday OF four-s'oi!
brownstone dwelling at No. 80 West Forty-slXth-st.
for sl 900 to George r. Read. When large brokers
make investments like this in the auction market
there is no reason to doubt that the time is excel
lent for bargains On account OF the great un-
certainty in other forms of investment properties
caused by the financial and economic principles Of
the present Administration. people who never be-
fore put their idle money into real estate now
consulting realty brokers with a view to investing
in this form of property. Judicous and intelligent
people who have studied the conditions that govern
the realestate market in this city are of the opinion
that there Is better bank eor their money than
New-York property. 1t is savings bank where
the interest on money is large. The wonderful i'm
provenent of real estate in this city makes 1t favor
able for permanent investment and speculation, and
at the present time there IS an opportunity for sue
cessful bargains. These to be found nearly
every day at the auction rooms and while at private
sale there few offerings that can be cahed
bargans there are numerous chances where one can
buy with the surety of a rapid increase in value.
RAPID TRANSIT AND BUILDING OPERATIONS.
The prospect Of having the rapid transit prob
lem solved IN practical way was one OF the
encouraging features of the real-esate market last
week With system Of rapid transit in this city,
the value OF property will increase and the favor
eble action ON the Rapid Transit bill had stimu-
lating effect prices
The building operations are on the increase. ana
in the last week there considerable activity
among builders and contractors. Work on two Of
the tallest buildings the city will begin in the
early part OF May. The American Tract Society
will build twenty-four story building at Nassau
and Spruce sts, and the American Surety Com
pany will build twenty-story building at Broad
way and Pine-st. Other buildings which Will soon
90 I'D downtown are those OF the Clearing House.
the Coffee Exchange and the Fidelity and Casualty
Company. Uptown the foundations are being pre-
pared for the Cathedral OF st. John the Divine,
St Lukes Hospital. the Teachers College and Co
lumba College Besides all the corporate enter
prise now adding improvements TO the beauty OF
wy
prise is also doing much, and in all parts OF the
city substantial buildings being erected
The month OF May Will, 1t is expected be an
active period in real estate. There are announce
ments Of forthcoming sales which lead brokers to
believe that there will be plenty OF work to do and
a good amount OF money TO be made. The renting
season. which generally ends with the last week
in April will be continued into May this year. with
the hopes that more leases can be made There IL
not much chance however. of landlords prohting
from a continued season. Tenants have made their
ARRANGEMENTS and the probabilities are that conces-
sons IN rents at this late date will take many
OF the unlet houses off the brokers books II Is
gratifying 10 know that in few cases landlords
have made reductions in their rents, and thus Will
he able TO make money their property. where
others will their houses vacant all the summer
PRINCIPAL SALES OF THE WEEK.
Raubitechek e. Co. have sold for G. Il. Steinmann
the new six-story brick and stone store Nos 21 and
20 Wooster-st. TO Randolph Guggenheiner ana
saomon Marx taking in part payment five unfn-
ished fiat houses in Ninety-sixth-st Inc amount
involved was about s2s5.00o
II is reported that two sales. aggregating about
half a million have been consummated. the detais
of which have not been given out.
winans May sold for Cornelius w. Luyster'
No. % West Fifty-third-st., a four-story dwelling.
az $4,000 and with John y. Goding NO ~ west
Fifty-third-st q similar house. at $4,000.
The property No l23 Bowery. south Of Grand-st,
has been sold at private sale by Alexander Ayres at
a quoted price Of sl250O The lot is 2xlO and there
is a five-story brlck-front building on It,
Charles +. White. with ogden Ss Clarke. sold Tor
James Kearney TO Potter Brothers. for about $780,
000 the block front the east side Of Manhattan
ave between One-hundred-and-second and one
hundred -and-third ss. Charles f. White later sold
the block front Of 200 feet with depth Of 50 feet,
TO Adler & Hermann. , a..
One OF the most important auction sales or the
nv order OF the Supreme Court. The property was
No IL Maiden Lane, hVe-story Drick DuIulnB,
standing on a lot 1SGxS7.8 The property Is subject
to an agreement 10 light and air made between
BENJAMIN Swan, the owner OF the adjoining prem
ises on both sides and William NJ. Fellows, Jonn
Van Arsdale and Joseph NJ. Cooper. on November
n 1849 The bidding ran from 100000 to N2SWl Mrs.
Louisa A. Fellows, one OF the parties at interest was
the buyer. -,
De Selding Brothers have sold ten lots on the
south side OF Canarsie-aye.. from East twenty
second TO East Twenty third ST. Fatbush). In the
Twenty-ninth Ward OF Brooklyn. This is probably
the first sale OF realty made since the old town or
F1atbush became part OF Brooklyn. IL is the nten-
ton OF the purchaser Mrs. j. II. Bergen, to Improve
at once by the erection OF small dwelling houses.
the city.
CONvEYANcES AND MORTGAGES.
The following table. taken from 'The Record ana
Guide" shows the number Of conveyances. mort
cages and projected buildings for last week and for
the corresponding week n year ago:
CoNvEYANcEs
april 2i TO 2o April 20 70 2o
inclusive: inciwive
Number Observation-Disclosures. o0i 3ll