New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-21
REAL ESTATE.
BUSINESS IN THE FIELD.

BUSINESS IN THE FIELD.
The marked spirit OF Improvement 1orceapie ~
real estate transfers which has been emphasized IN
,h preylous Monday articles In The tribune OF ''s
important subject was lacking In some esss",'a'
oo,rs In the week Just ended VIII IN compared WIN
the results OF the previous six days ms Is uue ~
so far az the actual summary or fSgreshtcu ies'
i involved For the week ending octoDer - ''.e
n,vate sa,es reached the round sum Of 5000 IL
is very noticeable feature Of the weeks maThet
ending October H that the real investor. VINO ou'
rronortv for the income he may realize on Staten
70 njtaI WAS not IT. evidence In any conspicuous
sense among the recorded purchos,s Inc I''
BUYERS Il Is said. what are known az puluers
and operators This kind OF buying furnishes
vital distinction between classes OF investors III
realty The true Investor. properly defined, rarey
assumes property In the sense OF taking IL as ra"
material -IIe looks about for that which has Deeh
jnproved The builder and OPERATOR on the o'hei
hand while really In one sense an investor puS
property with the direct inteht OF Improving anu
disposing OF It at an advance so that TINS Grass "
buying is looked upon lending an element OF de-
ciGed encouragement to the general tone or TIE
market
While the aggregate for the las, week is very
much less than for the week preceding. yet promi-
nent real estate say there was more real IN
vestment buying than for some time and they look
upon this as an indication OF good results and OF Il
l
are apprehensive that the approaching election may
cause a good many to delay buying. STILL dealers
generally are confident that before the year -
brought 10 n close the results Will be satisfactory
so far as sales are concerned IAN important fea-
ure" said a member of one OF tho large real estate
firms I'm conn sction with real estate is noticeable.
throughout the Western cities money Is very
scarce for really investment. This Is accounted for
in part by the fact that many large capitalists in
these same Western cities are transferring their
funds TO New York for investment in real estate.
This is not only true of the West but numbers OF
capitalists in the New England States are seeking
good properties here
As TO the auction market for the last eight or
ten months in real estate the results have been far
from satisfactory This Is accounted for by the fact
that owners OF properties have learned that they
can get better results by private contracts than
through the medium OF the public auction. The SIN
gle notabl auction sale Of recent date was that OF
the George c. Sickes estate, which was soid IN
PARTITION 1t was Of interest and importance in
that il gave many real estate dealers an oppor-
tunlty TO secure valuable parcels or property
The total sale amounted to about 100000 The prn-
cipal sales coming to the auction rooms are estates
like this The general feeling regards the mar
ket is one Of decided hopcfuness as the close OBJ
server glances ahead and every circumstance
points TO a promising business for the rest Of the
wear especially In view Of the fact that investors
are now beginning to shows signs OF renewed inter
est: Many holders OF good property err, however.
in supposng that these Investors unduly anx-
has resulted in their putting prices so high as to
out now for bargains. and brokers are slowly
learning that they will not be tempted to place their
money except where IL will do them the most good
in the way OF a return. Finally. 1t is understood
that several large transactions have already been
negotiated. and that results will In all probability
be made known within the coming six days
The private sales Of the last week aggresa ted
been obtained. But that sum would probably be
doubled Were particulars available OF number u
other sales which are believed 10 have been closed
but which. for various reasons, are withheld from
sses Teazed 'i the sum Of 10000 While the last
week has been i busy one In many respects IN me
the degree Of activity which has been hoped for.
The auction sales Of last week in this city aSgre
for the previous week Last year during the CORE
spending week the sales realized about the same
In Brooklyn tine auction sales for the last week
amounted to the sum Of ssi.ejs. as compared with
The total conveyances Of last week recorded were were
Tepr el Md" by W @ Wh for the corespond
ing week of 1894 the transfers numbered pos. Of
which 81 were nominal; the Others represented an
Twentyfourth wards (omitting the new Annexed
which twenty-five were nominal. the others showing
total investment OF Sl255. against slSs675 for the
Twenty-thrd and Twenty-fourth wards, Including
the Annexed District, aggregated sl5olsl = n. r.
g. OSc against the showing OF last year which
was 22s loans representing S353.29 The average
rate OF interest paid for money last week was
slightly below per cent year.
There were filed IN the Building Department last
week sXty-two plans for buildings. represent
ing s75Ss7 against sxty-ive structures 20
Lewis T. Crane has sold Cor John Stewart TO Sam
ue Green the two nathouses Nos IL and III
Bradhurst-ave. for about $1,000 cash each: also for
Jesse Seal 10 John Stewart ive-story apartment
house. No. l59 East Ninety-seventh-st, FOR about
S26.0oo cash.
The rumor as reported. that the Sternberger
tate had sold the hve-story building No J2J Broad
way. running through to Mercer-st.. ana including
the southeast corner Of that street and Spring-st.
sum of about $4,000 IL without foundation in fact.
The heirs OF Peter Gilsey have sold the property
Nos $50 and 81 Broadway. running through TO
Mercer-st., 374 feet front on Broadway, 200 feet
deep and 316 feet front on Nercer-st.. with the
fve-story business building upon It. for about $35.
0DD The name of the buyer could not be
tanned.
Mayer Kahn has purchased a corner property on
Broadway for about 10000 The exact location of
his purchase Is withheld for the present pending
other negotiations
The property No j3i Broadway on the east side
506 feet north of Sprng-st size 2Jxl00x23xO0 Is
ported sold 10y the heirs OF Benjamin II. Lily a
firm OF builders. who will demolish the present
buildings when they get possession FEBRUARY I
The American Society OF Civil Engineers has pur-
chased from Samuel Insee and Amos Il. Emo u
pot 5Ox005 in Fifty -seventh-st.. south side. be-
tween Seventh-ave. and Broadwav adjoining the
Central Presbyterian Church the west. and will
erect clubhouse on the site for its