New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-18
REAL ESTATE.
BUSINESS IN THE FIELD.

IT.. ,rarssc.ions In the real estate market during
the last week have been many. but TOT TIE i'os'
mart were OF slight value. The promised acu'''
seems almost on the point of realization each week.
but for some reason has not yet taken hoi' J"
earnest Meanwhile conditions are working them-
selves out and when the spring marker reahy
opens It will be upon a stable OASIS Ih'e''''
and builders have waited all winter before co'""s
TO the front Now that the spring Is mere anu
financial difficulties are adjusted. both sides seem
TO be ready to negotiate with what promises 10 oe
the most conspicuous results in point or area OF
real estate transferred and value received since
1885,,
There Is one feature connected with real estate
business 1t Is said. which. In the minds OF 'hose
who invest and others who loan upon nrst ana
second mortgages will be blight as long az IL
ia Tolerated This is the fictitious valuations placed
unon property The lender Of the money must
have a guide to the matter OF value - a."
agent or a broker reports a fictitious Vauatio"' ~
naturally follows that the recorded valuation Is
taken as an index to the worth OF the realty !"
that section The result has been. according 10
the expressions OF opinion gathered oul'hs '"e
last week that money has been advanced IN excess
NJ true value in many instances, ana there mas
been more difficulty this spring In securing ,o'
of large amounts. even on reasonap'y So
curv in real estate because OF the distrust whicn
IS the fruit of this dlsngenuous practice. from'-
nent real estate men would themselves prefer ma
every transfer should be accompanied by true
statement of the consideration. for they recos"'~e
that methods which likely 10 create oistruS'
eventually destroy confidence and make their FL
fort to sell all the more difficult. SO strongly mas
the prejudice developed against these methods Vi
fictitious valuations in transfers that many real
estate owners, we'll agents are seriously con-
sdering the ACCESSIBILITY OF securing the enactment
Of law which will compel both buyers and sellers
TO record the truth in the citys books OF record
An interesting matter, directly bearing upon the
al afafp has
alleged physical condition of the Eighth-ave sur
face railway. The introduction Of the cable sys-
tenn In the northwestern portion OF the city ABOVE
Fifty third-st.. has, it Is said, popuiarized the
routes OF that line TO a remarkable degree Inc
movement Of the cars along Columbus-ave. Is al
most noseless and the objections that were at hrst
heard owing to the grating OF the new cables on
the wheels in tn cradles. have almost entrely
disappeared. Meanwhile. in Eighth-ave.' the oio
horse railway track has 1t Is said settled IN Spots
until the line is a series OF hills and hollo~s, and
the joltng of the has become almost unen-
durable to the patrons OF the road committee
recently waited upon George Law the president OF
the company. to protest against the discomfort
In this connection. also, II was their purpose 10
urge the substitution of cable system for that OF
the antiquated horse power II Is said that their
mission was fruitless for the reason that the presi-
dent OF tho road. on learning OF its OBJECT closed
the door in the faces of his callers
IL is alleged, further. that unpopular nave
certain localities in Eighth-ave become that ten
ants are seeking business accommodations IN
regions occupied by the cable lines Between
Twentv-eighth-st. and Forty-second-st, on the
west side OF Eighh-ave there are at present t"en-
tv-tvo stores for rent. and notwithstanding the
fact that there has been a voluntary reduction py
lessons to the extent OF 80 per cent, few, or no
applicants for the premises have responded. On
the cast side OF EiGhth-ave. between Tnlrty-sec-
ond and Thirty-ffth SITS. only three blocks
drugstore This statement is made by a promi-
nent real estate as indicating the undesraoii-
ity OF property in Eighth-ave. and the readiness
of owners to dispose of their holdings TO this least
desirable class of tenants. in order to receive some
return bv way of interest their investments
II is alleged that the unpoplarty OF Eghth-ave
IS continuous from Fifty-ninth-st. 10 Hudson-st
and even along that thoroughfare, and largely Oh
account of -conducted transportation faciiiues'
II is understood, Also that the citizens whose IN
terests are associated with this prominent THOR
oughfare will shortly come together In mass
meetings for a bctterment Of the transportation
plant. or its eradication altogether in favor OF
The statistics of the real estate transfers ana
mortgages for the last week make lav9rs d
comparison with the conditions that preValied our
ing the previous week. will be obserVed.on eN-
aiming the following figures: 40, ,t,
The conveyances recorded number 20. OF Wncn
1913 were nominal. the remainder being represIenedd
by total OF $1,000 In the ai1S
which sixteen were nominal ths o ar me corr
the Others ns of a.. 10 ear the transfers mum
bered 2i5 OF which l6 were nominal me reihaht s
Tw ,S and Twenty-fourth wards there we're
% transfers. OF which ~ were nominal the o'neis
The M MORTGAGES for the last week were. only
trfe lar.er in number and in amount tnan me me
b %eek Of Ta%5s %ere For or the
ing week Of 1874 there TerS rs % 1sf aSe idans made
last week were at rate above per cent per an,
a A
The private sales for the last week have aggr reo
gated in value S36ooOOo compared with $1,000"
The si in the Building DePAF%sss9s5s for n
business. over the corresponding week OF last
year There we're $50 plans filed last week repre-,
ssis 5 in the same week of last year.
Clarence Dayiss has sqd for IsfGr nors
for s39 William a Ah6 Dor Ii! w nSn w nse build
jefferson NJ. Levy has bought in the name Q, a.
rSd Of the an sdph & om
Trust COMPANY as trustees Of the pe' n1onerfy
95 f9F s re sa s5'H ss'Sas
Levy in 1890 BY acquiring this parcel he secures
t nT tire oWner of valuable property
The church Of the Ascension Mission Association so IN
Wos, rgfyni{ fS to- oS MaHdebsum for
s55oc has bought the old edihce OF s,e non ON
the north side Of Forty thrds 200 feet east OF
Eighth-ave.. for $3.50. urs Harriet y
Barrow the four-story English basement mouse.
No ll9 East Thirtiethst.. to y. Murray Pusis.s
also for Miss c. Thompson the four-story f;nsiS'
basement house, No. 1855 Lexing ton-aVe 10 Nis' ID
Baruck. ,,..n,. s,s ssx
The south corner OF West and Albany SIS. os,SH
AZ y3e OxlS 1lxlS 2X667 with two Vestory aha cei
ior hrick buildings that was to be sold on tues
day. at the Real Estate Exchange by r. v; mar
mott q Co but was withdrawn by order OF the eN-
cntors has been sold at private sale to 1--WE OF the
seven heirs of the estate OF Charles Spear 10
which IL belonged. . . -. a,,,o,sas
Mr. Karcson has sold the hve-story hathouses
No l52 East Eighty-seventh ST. and NOS 10 anu 70
/ Downing-st to Bauman x Muller . - A.,
/ Douglas Robinson & Co. have sold Tor Mrs
! Rrintnall TO Mrs Townsend. No. Ht Lexington
ava n four-storv brownstone house, 1919 wide by NJ
! feet in depth They have also sold with Winner
/ ding 4 Field. lot on the north size Oh ri'S
sIy 10 feet east OF Flfth-aNe.