New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-11
REALTY SALES IMPROVING
INCREASED LIFE AND ACTIVITY SHOWN
IN THE MARKET.
CHE BUSINESS DONE LAST WEEK. BOTH AT
PUELIC AND PRIVATE SALES. WAS
LARGE-INTEREsT IN WEST
SIDE PROPERTY.

SIDE PROPERTY.
Conditions that govern the real estate market
have improved. There is every reason TO be-
ueve that from now on until the end Of the
spring season there will be increased life and
activity in real estate transactions The amount
of business done last week was on large
scale. compared with that done in the previous
weeks Of the last eight months. 1t showed
slight increase over the transactions in the same
week last year. and large increase over the
rprevious week. The amount of money involved
was s. 299 23s, while in the corresponding week
In 1898 II was s114e,500. One of the most favor
able indications Of revival in the real estate
lbusiness is a large attendance at the auction
rooms At the public sales last week brokers
and outside buyers were present in large num-
bers, the bidding on a majority or properties
offered was lively. the prices ruled firm, and. in
most cases bids were made at figures little be-
low actual value.
EXPLANATION OF THE STRENGTH
Ono reason of the strength Of the market is
Aua IN the fact that in the last eight months
holders Of property have maintained values
while all other forms Of investment properties
have been put the market at prices away below
their actual values. Real estate men have pre-
ferred except in cases. TO hold their prop
erty until they could get a fair price for It,
While throughout the season of depression ana
financial stringency there was little business
done in the real estate market few owners OF
property made sacrifices and now that the uoe
has turned they able to close negotiations
at figures which ruled before the hard times be-
gan Money has been coming into the market
IN abundant supply and loans are made on
favorable terms. There has been an active IN
curry for houses in all parts Of the city and
esnecially so on the West Side and in Harlem
and the Annexed District.
One of the interesting auction sales or last
week was that of the estate of Thomas j. Mon
roe. known as the Hermit Of Harlem. He owned
mine properties which sold for the aggregate
amount Of s13725O Other large auction sales
were: No. 1s Cliff.st. for ss01oO; No 637 East
Th;rteenth-st, for sS4,15O; No. SO Forsyth-st for
ss, 425, and No. 127 Forsyth-st. for $4,000
TRANSACTIONS AT PRIVATE SALES.
Transactions at private sale continued to in
crease last week. There was a large number
NJ priyate dwellings sold at good prices, and
There was the usual number Of rumors or large
deals about to be closed A good idea OF the in
crease in value Of property is shown In the re-
norted sale of No 166 West Thirty -fourth-st
for 100000 In 1855 this property sold for $4,000
and in 1886 for $4,000. George r. Read has pur-
chased the seven three-story brick dwellings,
Nos 1873, 1885, 1877 and 141 to 147. inclusive, West
Trorty-sxth-st. for a syndicate, the name OF
which has not been made public for about 49,
300 each The three-story brownstone dwelling
at No. 254 West Thirty-fourth-st. has been sold
at the reported price of $4,000. The American
Tract Society has bought the property at NO.
IA Nassau-st for s75 0O0 There Is big amount
of business being done at private sale above
FYfty-ninth-st. Brokers report a large demand
for dwelling houses, apartment houses and I'M
improved properties. The sales brought to
close last week above Fifty-ninth-st.. according
10 the reported prices, amounted to $l.1S4300
Ruildne operations are on the increase. Plans
were filed last week for forty-nine new buildings,
at an estimated cost Of 1919 900 The National
Mahogany and Cedar Company will put up a
two-story building on its property at the East
River and Eleventh-st Work has been resumed
on the new building for the Appraisers Stores in
the block between Greenwich. Christopher and
BARROW SITS. Work on this building was discon-
timed last fall because, under the contract, none
NJ the masonry work could be done in the winter
and because Congress failed to make necessary
annropriations for the iron and steel framework
This building when completed VIII De ano'"e'
addition 10 the large structures IN TINS CITY.
In the foundation are $50 piers. built on con-
crete over 1000 tons Of steel and iron have been
nut into the building. Two million bricks VIII
K reAssarv TO finish the walls to the top OF the
second story, and 100000 more 10 i,hish ~; All
other new building will be that or the Lexington
Avenue and Pavonia Railroad Compahys cap PIE
s.cwar station on the plot, 165x197 NOS lA 10 los
Krast Twenty ffth-st. and Nos l4o 10 lou Eas s
6rwentv-sixth-st This property was tiansie,ieo
<, the week by the Metropolitan Iracuon COM
nsny to the aforesaid company. The same con'