New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-20
REALTY MARKET HEALTH y
II. H. CAMMANN SAYS THERE Is BklSh
DEMAND FOR PROPERTY.
NO DECLINE IN VALUES EXPECTED IN THIS CHI
-FIFTH-AvE. AS A BUSINESS cENTRE-loo

NO DECLINE IN VALUES EXPECTED IN THIS CHI
-FIFTH-AvE AS A BUSINESS cENTRE-roo
HIGH BUILDINGS NOT FAVORED
Hermann H. Cammann. OF No. 81 Iiberty-st.' has
been dealer in real estate IN this CITY, i"oi"'s
the wards. for a period OF twenty-five vac
He has effected many large transactions ana Is a
man whose Judgment is respected by all as 'hat
OF an EXPERT In values Mr.. Cammann was asheu
Yesterday by a Tribune reporter what ne t"ous"'
OF the prospects OF the market for real estate 81 inc
present time. He said: THE market appears ~ 'e
in a very healthy condition. There are si"'
many inquiries for property. and especially ior tn"'
class which is most desirable in the line o: Nrst-
class investments In fact, may say That sucn
properties are in demand at all times ana lAe dS'
two years have not altered that condition. N"'"'.
lots are Just at present not so much IN dena"u
as property which IS improved. but there mas peen
a larger call for this class within the iast ie"
months and at present than has been opserNeu
for a considerable time. Investors are becoming
pretty well satisfied that there Is not go'ns 10 DC
any decline In real estate in this city aIthoush
other classes OF investments have suffered mate
rally in value.
PEOPLE READY TO Buy.
with the improvement OF the times and with
this feeling OF confidence. they ready TO buy.
There have been more inquiries Tor real estate ia
good localities during the present summer IMAM
IN the corresponding for several years Even
the renting market is showing more signs OF ac-
tivity than for the last three or four summers
While | do not anticipate any extensive speculation
in real estate in the immediate future, Dehe'e
that the conditions indicate considerable strength
and that we are going to have most satisfactory
coll and winter business There is steady Increase
IN the value OF realty the business advances
northward All new business properties are III ue-
mand in all good localities.
Tn. attention OF Mr.. Cammann was called to the
nml a z
offering property both sale and to rent. as well
,s for lease on ground rent When asked to ex-
nlain the reason OF this. he replied; The trade IN
Fgfth-ave H. limited 10 comparatively small com
munlty 1t 10 only hrstcass trade thai seeks fil'h-
ave-that Of the wealthy people OF the city. IL =
no, centre Of general trade. and consequently.
when looked from this point OF view u - ~
reea reled a. good business street for genera puSi
ness At the present tlme NE suplS S,St far me
large number OF offerings for rental or sd'e o'
leasing OF ground in that thororghiare.
BUILDINGS SHOULD NOT BE TOO HIGH.
Nr cammann was asked whether. in his judg-
a,t ,bers should be a law restricting the height
OF buildings His reply was; Il do think so most
decidedly For one reason. would state that II a
large number of high buildings are erected ~ a
s,reet thev have the effect Of diminishing the value
~ the lower buildings contiguous To thtin. i.s.i'
and air are appreciated more now thah tA'N iit (
,r heen The high buildings. Of course. seriously
interfere with both particularly IN narrow
Mr. Cammann said that 50 far as ms hio" 70,
extended the high buildings were popular 10 nel
tain degree and that they were, as a RUIZ Mr,
n,nts1. In fact they seemed 10 be held IN FAVOR
by a large part of the community AT he am ,;
time he said he believed where these Dul.Ilnsi
% n,,,,erous I'm narrow street they inierfert'I
in considerable degree with the health OF tnose
who occupied the smaller buildings IN tne s',ts' ,
H.. favored the enactment OF law similar 10 1Ii'
which exists for the government OF the constr e.,
ton Of buildings in Paris limiting me helsn M, %. an ~
Iniidngs IN three times the width Of the street III
which they stood AMI he expressed the h9ps w ~
sooner or later such law would De ehdc'r" ny '"'
LEGISLATURE.