New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-06
NEW-YOKK REAL ESTATE. |
THE SITUATION AS DESCRIBED BY A To-
CAL DEALER.
HE CONSIDERS IT a WAITING MARKET WITH GOOD
PROSPECTS, EnR AN INcREAsE OF vAI1.rs

HE CONSIDERS IT a WAITING MARKET WITH GOOD
PROSPECTS FOR AN INCREASE OF VALUES
The real estate firm Of Bennett & Graf. at CO.
lumbusave and Seventy slxth-s, has been In busi-
ness about eight years. Its operations have en-
braced some Of the largest legitimate sales on the
west side Of the city. north Of Ffty-nlnth-st. II
was this firm which negotiated the sale Of the Bar
ney property. embracing about three solid blocks
extending along Amsterdam-ave, from One-hundred-
andthrty third-st to Onehundred and thirty sixth
st, and involving value Of about S.5O0,OOO.
In speaking yesterday OF the real estate situation,
Mr.. Gran. the junior member Of the firm, said:
THE real estate market Is waiting on tho
part OF those who wish to buy houses. Many are
waiting to what the returns for 1895 will be.
When the books balanced they will probably
go In and be ready buyers In the season OF 1896.
We do net look for much buying meanwhile, ex-
cept on the part Of shrewd investors, who will. as
occasion offers, avail themselves OF bargains we
have In this house bargains which will
secure the profits accruing from an advance from
10 to Is per cent after January /. When We take
into consideration the scarcity of lots for desirable
dwelling purposes, houses that We offer to-day at
certain prices will be looked upon as bargains In
side of twelve months Investors cannot go outside
of this district and duplicate the advantages here
offered. and the investor will soon realize that ne
will be obliged to pay an advanced price over 'he
figures OF TO-DAY II he desires to secure mousse III
locality There not as many houses ioi
sale now In this district as there were year OF
two ago There have not been as many houses buiit
s sold in the last twelve months. IL you take the
residential portion Of this city. beginning at sixty
n,n,h-st and the Park, and extending thence 10 the
Hudson River street by street. you VIII De sur
arSsa5 IN note how few houses nave Deeh con-
sstruc,ed In the last twelve months ms - easnS
xniatnad The wear 1894 disastrous Tor pulluers
,rhern was during that period no Involvement he.u
49,, for them TO come in and pay the ruiins PIiSus
Tor lots and at the same time there was al" a.,
djnculty in securing satisfactory loans. IL "as n
uI arLet wear and il difficult TO get peopie
a. cone in and build. But the fact Is lnat q,
~ lo.ing money We have had no conragrat'ons VI
Is I9s.s has smply been shifting OF values oWiis
~ bard times Now II we VIII take Prop "conJ
80 nv street say Seventy hrst Sens sl "a So
en,vthird Sevent y-fourth seventy III III an 70
So aiv,h ais west of Central farh tue' ., a.
en-; - -, civ new houses in the market 49,
proodpy ~" ", haen occupied In Seventy-lourtn.s';,
III GO moi house that has not hau az Synntv
Hr,og this period. The same Is tue - c.o hnuses
uuitns In Seventy -frst-st. there are wv ia NO
seconJI, nG ~ nv knowledge, wnich nav III s,,a
aceor.e put meanwhile. values nave p I, huilders
tenah,s' one NJ the best reasons IS Una. hohSngs
tained Oiie "a they cannot duplicate tnelr noiu,s ,
KNOW W. rnsenf prices because Oh the ihcie"'
of lots . ~or.,no there has been large
win iespo,ses at the OF SLOW 49, - = 90
demand ioi ",bougn there has been an az hnuees
been scar. e. 900 The larger nuinper u. anr,nn
OF houses nrted at from sl6Oo TO slsU PEI 80 CON
have peeii srrntion of these houses mas NON as
anu u" The renting season can pe I'd"
stani: .La,qsfactory in this neighoorhooo'