New-York tribune., 1895-08-17
NEW-YORK REAL ESTATE.
PROPERTY IN THE DISTRICT BETWEEN
FOURTEENTH AND FORTY
SECOND SITS.
c. e. HAKRELr. TALKS OF VALUES IN BROADWAY
AND FIFTH AND SIXTH AYES. BETWEEN

c. E. HARRELf. TALKS OF VALUES IN BROADWAY
AND FIFTH AND SIXTH AYES BETWEEN
THE STREETS NAMED.
c. E. Harrell real estate agent at NO. l5l Fifth
ave, has during the last seven years been largely
interested In property lying between Fourteenth and
Forty-second sts the line OF Broadway and
Fifth and Sixth aves. During the period mentioned
he has witnessed many changes, always In favor OF
the investor In real estate within ana contiguous
to the territory named Mr.. HarreH Is man OF
conservative ideas. who looks conditions rairy IN
the face and In straightforward manner meets
them as they come Everybody knows that the Sec
ton mentioned is one which has developed remark
able changes within the last ten years. The I'm
provements In the way Of railway facilities during
that period have been wonderful. Except IN lower
Broadway, no transformation has been 80 conspic-
uous Speaking yesterday the general subject Of
real estate. Mr.. Harrell said:
"Of course, / have been more observant OF my own
territory than OF any other in the city. have many
sales and, in the nature Of the case. many rentals.
1t is fact that stores and lofts within this section
that had remained unoccupied for many months
within the last two years are now being rapidly
taken up and in a remarkable degree by firms who
either enlarging their business or who are en-
tering on new enterprises. There Is obviously a
dearth OF available the great thoroughfares
OF Broadway and Fifth and Sixth aves between Four
teenth and Forty-second Judging from app!i-
cations now coming forward, it Is my opinion that
within a few weeks we will not have place
open for occupancy In response to at least twelve
w0uld-be tenants / do not think there IL any prob
ability of any reduction of rentals. On the con-
trary | think the demand invites Increase. j
have many calls as have recently devel-
oped for property this district since the begin
ming OF the financial depression Immediately follow
ing the general election OF 1892.
unfortunately, within the locality mentioned. the
figures at which the hold their property are
almost prohibory with respect 10 actual purchases
In Fifth-ave between Twenty-third and Forty sec
ond SITS. only few pieces Of property are availa-
bic, and the prices demanded are too high TO invite
reliable bids for immediate sales.
I'm my judgment, the new hotel now being erect.
ed at Flfth-ave and Thirty-fourth-st on the old
William Astor property annex 10 the Wal
dorf is source of harm rather than benefit TO
the advancement Of business In Fifth-ave. Many
owners. however, believe that this new hotel when
completed will largely contribute to the increase
of the value OF property contiguous thereto that
they hold their rental values high that even
the best OF merchants and dealers cannot reach the
figures with hope of profit in the business they
conduct AS result, many houses now used as
private homes are withheld from rental. These
must soon give way TO the tide OF business when
is rushing into this thoroughfare | look for an
active market for realty during the coming season,
provided the will make reasonable conces-
sions This they must inevitably do or their prop
erty will remain vacant and be passed by