New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-25
REAL ESTATE.
BUSINESS IN THE FIELD.

matter over which there is just now some agra
ton is that Of the renewal OF leases Oh ol''e' ~
the district south Of the City Han In the ma
toritv of cases these leases continue from year 10
wear; but the completion OF several ne" ou''''is'
with immense areas Of Office floor space III uS
soction enlarres the field at the same tlrne cduS
ing uncertainty on the part OF lessons as 10 Inv
disposition that is to be made OF their o"ooa "'
on the part of the lessees as 10 the ues''""'''''
Of the other quarters provided The lessees thus
stand upon a more Independent basis IMAM hete'o-
fore.
II business conditions. however were similar u
those Of three years ago, even the large increase
of floor space would check the spirit OF lhue-
pendence now manifest The new buildings are
beiny pushed forward with every possible speed 10
the end that leases may run from May ]. Inc
weather conditions during February have retarded
progress but there Is little doubt that WIN good
weather during March and April several hundred
Offices will be available which were not III 'he
field at the beginning Of May last year
The tenement house district on the EAST SIDE
Immediately north OF the Brooklyn Bridge, has
long since been neglected by investors IL may lie
said. however. the authority OF Il CIVIL ehg-
neer of high reputation and business associauohs
that this quarter is not likely to fall altogether
into the current Of demolition and reconstruction
1t has been suggested that through me deprecia-
lion of proportv there. attention Of investors has
been drawn to the appropriateness 81 the tunes lor
beginning movement for a redemption VI udt
section from its present condition Large houses
OF CHEAP construction have been erected and
crowded with a most undesirable class oil tenants
The denression i'm trade and the lack Of work
Incident thereto have rendered II Impossible Tor
landlords TO collect their rents, ana hence much
Of the property while subject to heavy taNauoh
Is practically Vaueless as source OF income
The conditions therefore, are more favorable than
they are ever likely to he again for securing an
entry info that section on Il profitable basis The
suggestion has been made and seriously cohsl'ere"
that a syndicate which should hciuhe ci'z'hS
capahle of insrrng q considerable capital might
now quietly gather up enough land 10 enable them
to construct initial observation-disclosures bhiit on
,,nnrovod architecti - designs that might serve
as A model for otnrr enterprises OF the same
character. In the first place. however IL wo"'d
be necessary. u il said. 70 secure "a nearly doso-
lutelv perfect sewerage As possible IT TINS prop
osjtion should develop II Is not unlikely hdt
model tencmcnt-house following closely the plans
adopted by the late George y. Peabody. In Lon
dom would be the basis OF the work IL Is hei' 10y
the advocates of this idea that a pioneer struc-
turc carefully supervised as TO the class OF us
tenants and maintaining high standard Of sani-
tary regulations would induce capitalists ~ tol-
low its example and by slow degrees ohliterate
wholly a section OF the metropolis when mas
been A disgrace for nearly half century
Included in this general plan is a theory that
there should be an early condemnation OF prop
ertv at some suitable point Tor the layinr ont of
a rarl, I'm that district with this impetus II is
believed that score or more Of rich m'' would be
willing to enter upon the work OF redemption
vbich can meyer be accomplished without the all
Of an immense contribution OF private capital n
the way II Investment ENpeciauo'S centre ABOUT
the efforts the new Park Commission. ,
r. Ihe reidenis , IN ne tertigiy 81" ~ onchuire
and-enth-si. have long felt that they "'I" Si%h''l
me cast sid they believe that there was an ln-
territorial disposition 70 favor ne res'Ir,",ss ,h
more recon- administration = toe coumissio tna
the eastern side Of central PARK ahutthe ON r ,,.
ave. naturally caused the graHitauon pi i"iIgps
N. MS along Ff;h-dVe above FifN min INST Ni'l'
the land j. wholly occupied by magnificent private
houses The district wesi OF Efhth1a'". mas &C.,
slow in its Development l. ~ shld. l'T i"i.."'
Eighth-avc mas gone more 20 monster anWi lncni
h1ises such as the Hotel Majestic. the Nevada. in"
san Reno and m" Hotel Bercsford. ana ii seems
hKc'y tha1 f"sl',.i - , - ral,.i,i i.illi'rss
az that character. II IL becoming matte 81 li
crcasng intcrc., no,h 10 real estate 30 icrs 'ri .n
vesiors As to the u.cs o. wnich ms Na.nsp' r'"i
verified and Eigh'h-ave be given over 20 higl oa-s
arariment-honses the frontage on The PaTk ".A
and architectural grandeur IN t3r W3iil ,,.t
vanclng tide Of Improvement around Contra fafk
within the lasi ten years IN" axes phH ~ ne ,'y
due the enhanced valuation Of ~" ,prop,Ty hs s
Park Itself Every house overlooking "a" l'ik ha-
added something 10 this i"cte1,el Ntta"',"n. "l,n
in the way Of thre, ir,in tNc pl'tc e,
argued. therefore. by those on me "csi -ie, tth,
is
in ismuch "a by DOING tn" good OF N" pubic VIII
be served
Tire statistics Of The real estate transfer and
mortgages FOR last w"ek rcnn fairy eool as@Ic-
ga te 81 business ~ compared with the "s"u-
week however. as well a with the same leIioo
Of last year the amount OF business 'I"n.a,,-i
10 " n,,nnered win s. 2ol o0 for the previous
week and sgsoaOo for the week before thai
The convcyanccs recorded number IL, ~ when
S. were nominal the remainder being represented
bv ia al
Tweniy fourth wards there "ere :, trinsi %
others amounting 10 toSf 81 For the corresponding
week Of last year the transfers nump'r'l 1885, 81
which s. nominal. tho others representing an
investment OF $500 In the Twenty-thri and
Twcnty-fonrth wards there were - Transfers. y
s SS%iR~' the others showing " '0''' ''','''
beT and in amour; than the previous week. 1herr
were ~ mortgages; INVOLVING The sum o' Si'..' wv
About one-ihrd Of thr-e ipis, 81 i, ,.i
N@si0 were mao ~ q iai, '.ns . w." I'm
interest. and 1906 involving Nrs3'i', % At'"t Two
Interest. and only s'l77ij were made At i''s rate
than per cent. rpr the corresponding ",-h "l
s ~ 90 nyovjnr XIX ia were made at over
Der cent interest and -. involving N'"lfi2 were Al
Tatc 'rhsre were dicd In Inc Building Department
plans for - new structures. representing 10 V"nr
Adeph D. Ansbaeher has s2Ia e % %ns T. Pynney
but the price is estimated al about $'1~O or $500"
Henry -. Winans has sold for arS; Henry Men
third-si Tor $500; also 30 - West SiNiy-cishih-
ST. en- American basement house. -OXYl, for about
SO 900 FOR Edward Fitzpatrick. 10 DAVID Williams.
for whom the same nrn has recently sold his
prcsani house. 80. &C. East SiNty-frVcnth-st
il j. reported that william X. Evcrde'l has closed
trade with Gutwls Brothers. by the terms 81
o. which the latter Nl purchase nos. ana . West
Eighteenth-st. 50y92 the casterly half Of N" old
81 AIMS Protestant Episcopal church property
and will give ~ part payment the Two hv"-siory
brick nathouscs. sos. 81 and - East Eighty sixth
St. on a plo, 5xoc.s. The price quoted for the
fcr-,cr nr6pcrtv H. sl20cpo The na;hOuses were
acquired By Gutwillig Brothers in April. 1894.
through a trade in which they figured AT a valua-
ton Of 10000.
The =. & II. shaefer Brewing Company. It IL