New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-04
REAL ESTATE MORE ACTIVE
.rrs At pI-RIJC AUCTION INCREASE IN
VOLUME AND IN VALUE.
,.,cr ArrrxDANCE AT THE EXCHANGES
EVIDENCE OF RETURNING CONFIDENCE
RENTS IN OFFICE BUILDINGS-EF-
FORT TO HAvD THE LEGAL
SALES TRANSFERRED.

FORT TO HAvD THE LEGAL
SALES TRANSFERRED.
The indications last week in the real estate auo-
ton market were favorable to a revival OF business
The attendance at the sales was large ana eao"
niece of property offered received 1air amount
AZ attention The actual amount Of business trans
sc.sd showed an increase in volume and IN value
rhe total amount OF business done last week a.
,nhrc auction amounted to s4s3.4O8 against S55'lH
a. tho nreceang week In the period last year
q amounted 10 s752 9s4. More buyers are coming
INTO the market every day, and brokers pTeoic'
mat the spring season will hold its own with 'ha'
az previous years. The most interesting SAFE IN
The auction market last week was that or the jacob
Travis estate including property in Brooklyn staten
Island and Virginia. Every parcel offered was soiu
The prices for this property ruled low but the eN-
ecu,ors were well satisfied with the result
Considerable interest is being taken in the effort
N co, aside the sale OF the Hotel de LoSerot, ana
the action of the court is anxously awaited II Is
thought that II the orders the resale OF TINS
r,o,er,v II would seriously lnjure the market, be
causs n would make titles derived through auction
sales untr1stworthy. In the injunction restraining
the referee from transferring this property 1t Is as
serted that the price for which II was sold was less
than had been offered for 1t at previous sale II
ia also alleged tnat the sale not properly adj
yertsed and as a result the successful BIDDER Sc
cured the property ridculousiy small figure.
The sale was ADVERTISED according 70 the usual
methods OF announcing foreclosure sales ana the
fault was with the method rather than ule an-
ye-,iseuent The Tribune has pointed out before
the error OF the present method OF advertising eeal
sales When legal sales are as publicly advertised
as voluntary sales there will be no question arts
ing like the one the of the Hotel de logero'
TRANSACTIONS AT PRIVATE SALE
A, nrtvate sale las, week several good transac-
tons were made More money for investment came
into the market and buying for this account showed
a substantial increase. Brokers report an active HI
curry all over the city for houses and holders OF
property have shown willingness TO make shgh'
concessions An interesting transaction last week
was made by Hoffman Brothers. who sold Tor John
Petit the sevenstory brick office building at Ind
ertv and Washington SITS. known as the Electrical
Exchange Building TO the Rev DR.. f. a. HOFFMAN
for about 100000 Mr.. Petit took in exchange a
farm at New brunswick and a hotel at Bridgeport
Ala The Electrical Exchange Building was re-
ported sold to the Beers estate several months ago.
but the negotiations fell through
1t was currently reported in real estate circles
Yesterday that c. 7. Huntington's new house In
Fifth-ave had been sold to a member Of the firm
Of Stern Brothers. This however. was denied
later Work on this building. which was stopped
Rogers has sold for Herter Brothers the six-story
building No 1871 Wooster-st for $4,000. The names
OF The blyers have not been made public. on the
Yves, Side a good many sales were made last week
RENTS IN DOWNTOWN OFFICE BUILDINGS.
There is considerable dissatisfaction felt by ten
ants in some OF the downtown Office buildings al
the refusal OF many owners TO make concessions
In rentals which are to be renewed on May !. in
some cases tenants report that their rents will not
be reduced and that an Increase has been De
manded In several OF the large office buildings
persons occupying the offices have given notice tina
unless a reduction Is made In their rents they VII
seek quarters elsewhere. Owners OF some OF the
smaller buildings have given noticc that ren''
for the coming year will be made to suit th'
tines 1t Is reported that the large nuldingS nov
in course OF construction. when Will De ready io
occupancy by May l. Will endeavOr 10 secure ten
ants from other buildings by Offering them more
favorable terms. People who rent offices downtown
think that for this season. least rents should b'
reduced IL is probable that at the last inomen
concessions Will be made If tenants STICK 10 thel
determination TO give up their offices
House renting has been made on more faVoap
necessary in order to keep their tenants to max
renewals at the prices. and In many case
al slight reductions. so far the renting season ma
been considered good In view OF the general stag
nation In all forms OF trade. .
The New-York Real Estate Exchange Is maxim
active effort TO get back the legal sales, Whlcl
now held at the NewYork Real Estate Auctiol
Room at No. Ill Broadway. bill II now begor
at the Real Estate Exchange unless otherwis
ordered by the court. hearing on the OH was
have beer held at Albany last week. but was ad
tourned until Thursday OF this week. wnen counst
for both sides Will put forth the respective ciaihi
OF the two exchanges.
CONvEYANcEs AND MORTGAGES.
The following table. taken from 1.-The Record an
Guide" shows the number OF conveyances. mort
cages and projected buildings for last week and 10
the week in 1896: