New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-07
REAL ESTATE.
BUSINESS IN THE FIELD.

The condition OF the real estate market II a.
what was expected Of 1t two months ago. For ann.
reason or other those who have property and thoss
who want property do not seem to be able 10 m
together terms As has been repeatedly ind
Gated in The Tribune during the last two month";
good property Is scarce, and though some holders
ore not ndIsposed to sell. they coquettsh when
offers come their way. TIE Information has been
gathered during the last week from certain sources
that the nodernzed office and apartment stn,ct.
ures have been playing havoc with the incomes o.
widows and splnsters whose relatives bequeathe6
10 them some od-fashioned buildings OF thirty or
forty years ago The great advance that has taken
place In methods OF construction within the period
named has largely transformed the real estate
business IN general that agents are now compelled
to stpuiate certain forms OF construction that
score OF years ago were never dreamed OF as Dos.
sib.e
Business has been light during the last week. N
fact there have been. with one or two exceptions,
no transfers OF note This quiet period in th
JUDGMENT OF those who are familiar with the proc.
eases controlling the real estate market, Is looked
upon an indication o. period OF scrutiny. There
e 70 doub, that much money IS waiting for In
vestment the only trouble Is In finding the owner
willing to part with his holdings. For several years
agents have had the advantage OF a splendid fed
on the West Side, northward from Flfiy-n!nthst
to Observation-Disclosures; There are few va
cant lots in that territory now but the difficulty
Is in bringing owners down to the buyers level
II Is a fact that Notwithstanding the panic Of the
last two years. imitation Of real estate values has
continued.
Whne New-York real estate agents are looking
around for properties IT IS known that owners In
Brooklyn are industrousy looking around for pUr.
chasers The elevated railway system and thy
trolley line system have for some reason caused
people to migrate toward the suburbs, and In those
IL ef.sfs.
more prominent localities neglected There
have beon no such advances in the way OF recon-
qtruct,ng BROOKLYN as have been experienced In
New-York during the last decade The trouble Is.
according to the views OF real cstate men, that
the taxes are so extreme and city itseI: must
bear nearly the entire burden hence no courage
ment 10 reconstruct the city OF Brooklyn In the
manner which New-York has been 50 completely
changed Is afforded. As everybody knows. Brooklyn
has few large corporations in comparison with New
York 10 contribute to It's revenue from taxation.
Those who are especially interested N the payment
OF taxes are equally interested in the consolidation
of the two cities in the faith that In union there ID
strength
There was considerable disappointment In the vol
ume OF private sales OF the last week In the real
estate market, contrasted with some OF the preced-
Ing weeks The aggregate investment last week
involved only about $4,000, which ndicate4 a
shrnkage Of sl1O0Co0 as compared with the previous
week II Is predicted, however. that greater ac-
t.ytv Will be recorded before the close OF this weeks
arsactons II fact. large sale was closed ate
on Friday night that Will help 70 swell the aggre
oata saIes which Will be summarized in the totals
OF this week This sale that OF the southwest
corner Of Broadway and White-st, ~ lOxlS02a feet
ey,y ~ was sold by Frederick southack & Co. brOk-
ers. for the estate OF James -; X. Lawrence 70
blot a sx-story building. which is rented unit. next
February. at about $1,000 a year W men the ease
expires Mr.. Williams Will erect modern t"e'e'
huS
The properly at the southwest corner OF sly
ave. and Ffty-eighth-st. owned by the Sixth Ave
nue. Railway Company, was announced as SOFA 70
Panie d ErsSd@ about 81, & 'N'' 'es' anu '
M5rgan D. McIonegaa has sod for Clara F
Deladeld to MARGARET J. Maze two lots at the south.
west corner OF One,hundred sec9ndsS ana
no. norfh side Of
beginning 100 feet east OF E.ghth-aye.. have been
sod for the Van Nest estate 70 } Allen toNnsehl,
The Frank L. Fisher Company has 5qd i4 Or so ogs
story brick and brownsstoone dwelling NO % "es'
ton rooms during the last week In this cry tns
auction sas realized opy es as o GoD Sfsr win
In Brooklyn the total from auc i5S saeS S 10.
The Statistics Of he real transfers last weep
showed much smaller volume OF business, s''e
sre Increased Volume OF business compared
With the corresponding week Of last year .orao,
were 292 OF which li6 were nominal the remainder
hing represented by 81 1854. while for the cor
responding week OF 1894 the transfers numbers
2i5 OF which liz were nominal; the others repre-
sentlng an investment OF S53s6.62+ .
In tae Twentythrd and TWerytourth q, dss5
here wera sixty-sx transfers. OF which thrty-ioui
were nominal the others showing total nsrot
~ iSot The total transfers in the Twenty-thlrc
and Twenty-fourth wards. including the annexed
district. aggregated the sum OF s.h,oV ,,,,,,,n,
There were 3i2 mortgages last week lnVoIyins
s. ss2 against the showing Of the corresponding
week ~ last year, which was 2ol loans represent
ing S.77li s2. ,,,., -,
The average rate Of interest was slightly above Z
q o75 0o6 were borrowed at less rate than pei
=, M a year The balance OF the money was secured
al per cent or at higher rate.
There were filed in the Building Department last
week thrty-six plans for new buildings represent.
ing s759265. against seventy-one structures u cos'
$500 100 In the same week OF last year