New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-23
NETWORK REAL ESTATE.
WEST SIDE DEALERS OPINION OF THE
MARKET.

! TIE PREDICTS AN ACTIVE FALL TRADE-rRor-
rary FIRMLY HELD ON RIVERSIDE DRIVE,
Tn. firm OF sawson A. Hobbs. No 2st Columbus
| ave In one OF the most active In the rea' estate
, business on the West SIDE. No district In the city
| has developed so rapidly as that lying north Of
| Fify-ninth-st. bounded on the east by E.shth-ave
and on the north by observation-disclosures In
Guiding the land lying between Central Fdrk ana the
Hudson River George l.. Slawson, member Of
| this firm. SAID TO a Tribune reporter yesterday:
Il think that we will have the largest fall bust
ness we have had on the West Side for many
years The renting calls have been unusually large
for this OF the year in this section There is
much inquiry the part OF investors for residential
property especially for houses ranging In price from
1900, upward. The market in fact in respect to all
kinds OF realty. promises 10 be unusually active.
Vacant property when offered at reasonable fig
ures has sold very quickly during the last year,
and the demand is greater than ii has ever
been before.
1--WE expect that the law. as Il affects apart
ment houses, will materially Increase the cost OF
construction OF buildings. This Jaw limits the
founda ton lines to certain percentage OF ground
area Ii is impossible therefore, to construct build
ings have been built within the last few
years on plots Of equal ground area with those al
ready constructed and realize as much money as
the sum for which can sell tiose bu.lt before
this Jaw went into effect. The fact is there are
comparatvely few houses for sale The builders
have not been erecting so many apartment and
private houses during the last year as formerly.
owing 10 the high figures that property-owners are
exacting for vacant lots. Everybody seems to be
inspired with the that real estate In this local
ity is on solid basis, and that the man who holds
on is sure Of an advancing profit meanwhile. There
is a large demand fol good houses at moderate
prices-indeed the demand largely exceeds the sup
ply Business is crowj,ng out family homes In the
central and lower parts of the city. and many peo-
pe. as a consequence. are migrating 10 the west
Side This accounts In part for the healthy de-
mand for realty in this section. think. therefore.
private houses are good investment al the present
prices.
"There are two desirable sections now which COM
pare favoraby with Fifth. sixth ana Madison AYES.
/ refer TO the territory embraced In what Is known
as Central Park West. Coumbus-ave., West End
ave and Riverside Drive This district Will eventu-
ally. in my Judgment be the west Enc OF New
York CITY similar to the West End OF London or
the West End Paris-that which " known as the
select portions Of the cities named My reasons Tor
this Judgment that sc have street after street
OF private dwellings OF modern construction ana rea-
cost where the applicant seeks substantial
and permanent home The h,gh-class apartment
houses are chiefly confined to the avenues The one
nrincip, attraction Of West SIDE Ia the natural
advantage afforded nv the high ground ana the fact
that locality Is between the Two nnes parks IN
the civ nancy. Central and Riverside parks Prop
orty ON the Riverside Drive ~ hrmy neld by reo-
ule of wealth who do not care 10 sell. ana there
class u realty In that iocalty ~ the present time