New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-30
REAL ESTATE.
RIrSINESS IN THE FIELD.


Ing duty in this column far as the real-estate
market Is concerned.
No year in the last generation OF tlihe mas ue
veoped so many physical changes OH Nia''"a va"
Island as has 1885. The transformation III ''e
lower as well in many portions OF 'he "pp'
sections of the city has been so vast as 10 i''p'e'
the period upon the history of New YORK az one
unusual Significance 1t is undoubtedly true 'ha'
capitalists with wise heads and uniimitcd
foreseeing an advent of improved business co"u'
tions have taken advantage Of the pressing nara
times 10 secure realty at the lowest valuation anu
labor for its Improvement at the lowest cost so ia
as the production of material and construction Oh
buildings are concerned. 1t is needless 10 pre"en'
n LIST of the structures reared in this city WITHIN
the last twelve months. Their height ana '"ei,
other characteristics have rarely been eNceeueu' anu
the amount of money passing directly mo inc
pockets Of aborers from the hands OF hl'es'o,'
has seldom been equaed in the history oil .hiS
town. \ prominent real estate man said le"
DAYS ago that there was object lesson supplieu
in the realization Of these facts In That despe tue
terribly severe conditions OF trades ana hhthcc
throughout this period the pockets Of the wealthy
investors were opened TO labor to degree ""'o"
has never been exceeded under such conditions.
This argument" he said. rs one which conid De
advanced against the Socialists and Anarchists 10
combat many wild charges OF oppression OF LABOR
by capital 1t goes further" he ADDED beeause
II demonstrates the confidence OF investors III 'he
quality OF New-York realty Nni!e cap!'a HAS
givea so large employment to labor Il has been dohe
on the line OF prospective rather thah ihinou'd'e
profitable results Though larger number OF
preat business and Office buildings have been con-
structed during the last year than during any other
in the history of New-York cry. the summary OF
the results OF the twelve months OF the caiehu'r
wear as compiled from interviews with investors
and rental agents of these new structures proves
that a condition OF iLx has been reached and that
lin. oft hes
devoid of profit shor sheep is OF us iieecc.
One of the best-known representatives OF the real
estate interest in this city said on lhuisua! last
.'The condition of things now prevailing must cease
very soon If any incomes are TO be derived from
the investments. OF course, We all nope lOr an"
believe in an early change for the better Withln
the last year there undoubtedly has been consdera-
ba difficulty in collecting for Offices in certain
localities occupied by tenants OF moderate means.
heard OF q case the other day relating TO large
office building in which d number OF struggling pus.-
ness men were located and from when places they
had advertised. where several delinquences III 'he
matter of meeting rental dues had occurred. some
OF these tenants had come frankly forward 10 the
agent with the statement that owing TO the narrow
ness of business or the failure OF their debtors 10
pay their bills they found themselves unable 10 pay
their rent when due and asked for an extension
of time The agent. having his duty TO perform to
his employers adopted plan, coerciVe IN tS nature
deceptive
a tenant came to him and asked for an extension
of time he would CURLY reply that If the tenant
could not pay his rent another tenant could be
found for the room at once. and followed TINS mint
by a suggestion to the surrender OF the apart
ments Then he decetfully called up men for
dummy applicants for rooms and ostentauousy ac-
companied them to the room of the delinquent ten
ant: the dummy.would look over the premises ap-
provingly; some dickering as 10 price WOULD take
place be tween the dummy and the agent usually on
a higher basis than that on which the delinquent
stood: the dummy would at last but with some ap-
parent dissatisfaction. accept the premises ana the
couple would retire Shortly afterward wher the
agent would retire his own office the delinquent
tenan. would tim.dly appear Then on a p,"ihts
that he would borrow the money from Irl'nu lot
the payment OF his back dues he would receive az
The apparent reluctant assuTan on me part OF
the agent that he might continue under thGse ciT,
continuance Of his lease thereof.
Now" continued this man, "such practices as
hose arc not right and ought not to be INDUCED
in. My own judgment is that when we know th na
tenants are honest men STRUGGLING n1sf , ouc g
10 be made by The oTneTs Wao Deere wou as
they surely will before very long,
Naturally the view OF the agent as oNnGeSsed
above docg not apply in its moral TO the greater
OF applicants are thoroughly investigated before
Contracts are closed. Ia the neighbornood of the
the agents there. the practice has been for the
iatimat @e proposed Increase The small trades
man whose business has become established, but
whose profits have been slight dtsparingly throwsup
his hands as begs for at least ,he continuance OF
the rates previously paid. The agent, with de-
ceitfully magnanimous show OF CONSIDERATION
Yields 10 the request Of the tenant who Departs
with feeling of relief over the fact that his bust
ness is in no danger of disturbance and with a
sense of gratitude toward the agent who has eX-
tended the favor.
business in the auction rooms for the sale OF
real estate in this city In the last week has been
somewhat light The aggrss 5 sales have amount
week Of 1884. In Brooklyn the auction sales TO-.
the last week realized the sum OF slsoao WINE I9r
the period last year the sales aggregated only
The sales at private contract in this city for the
last week involved an aggregate investment OF
81 $4,000. The buying has been fairly well dis
ributed over the deren; sections Of the ciy ana
with sales of vacant lots ana other parcels sus-
reported last week were 81. of which ia were nom
inal. the remainder being represented by total
year the transfers numbered 205, Of which 100 were
nominal, the remainder being represenicG by
fourth wards emitting the new Annexed District
there forty-seven transfers. of which thirty
amounting to slo3GIs In the Twenty-third and
Twenty-forrth wards. including the new Annexed
TO Slo5 sos There 2J6 mortgages. involving the
sum of $342i.dG2. only $S5.5tS Of this amount Of
) per cen. a year The balance Of the money was
loaned at a rate not exceeding per cent a year or
There were fled in the Building Department
twenty-three pans for new buildings. at an est
week Of last year there were recorded thrty-seven
new plans al an estimated cost Of &2i 100
William 9. Muschcnheim who recently purchased
Nos 22 81 AMI IS West Thirty second-st.. has
bought the property no. SO West Thirty-sccond-st
for $4,000.
C. r. Gregor e Son have sold for Michael Giblin
the four-story brownstone dwelling no. lJ1 West
SiXtyninth-st private terms; also have sold for
S. Mlikcn the vacant plot on the northeast corner
OF Madlson-ave. and Eas, Eightyseventh 1Oo8x
ll3, private terms.
r. a. Cruikshank & 60. have sold for Presidcn.
John Harsen Rh0ades OF the Greenwich Savings
Bank, the plot AZ 10xl3oSX1i20Xl29l0 with the old
buildings on the southeast corner of West and
Bethunc SITS, and for John :. Budd the property
adjoining Bethune. extending 20 a point eighty
l54xl421 and 1919 with an l. 2olxllsx976 fronting
on Bank-st. The buyer is corporation, and the
aggregate contract price Is reported 10 be about
$275. ono
90 Ett for Business purposes