New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-10
NETWORK REAL ESTATE
r HOFFMAN. JR.. GIVES HIS VIEWS On
BUSINESS PROPERTY
INCREASED VALUES DowNToWN-"rNi''" mo-
TER THAN LAST YEAR-GooD RETURNS

INCREASED VALUES OBSERVATION-DISCLOSURES Dbl
TER THAN LAST yEAR-GooD RETURNS
FROM INVESTMENTS.
Tho firm Of Hoffman Brothers composeu -
Charles F. Hoffman, jr., and Niihah NJ -
man az Nos and Warren-st' mas pee" :" ~
reaI estate business In this city for peru" -
arr ,oars I, has negotiated many important
transactions and has also witnessed src.. ~,
r. Tho nrocress Of the reconstruction OF Ne" ioin
ON modern lines To Tribune reporter Chaf'e9 +
Hoffman, jr said yesterday: ,u oo,
The business OF our firm is almost who"y con,
6,ed 70 the mercantile district. we guy an"
business property to the excusio" VI 49,, g., q
e,ee The real estate business here Is dlV'ue" ~
nnor similar 70 that which characterizes o'ne'
or,ornrses-that IS TO say, II turns towarh sP'N""
,i.s The city has grown so laWe that IL mas "e
come necessary for man identiheu "'', -"
s,a,o business TO confne himself strictly 10 one
localitv to the end that he may Thoroughly l"',
,,rize himself with all the deeds. abstracts OF "e
and the like I believe that a man seeking 'e"
s,a,a Investments generally knows betorenahu
about what he wants. Such person oa''"' ~
better than by going to reputapie p'o".
confines himself 10 a certain important locality ana
who is thus able to represent the real CHARACTER u
nronertv which a client may desire TO purchase
"RusIness property downtown 49, In my J"us
ment held more strongly than 1t has ever Deeh IN
the history of the city. The late panic mas no.
created the slightest depreciation IN the Va'ue ~
downtown property. Notwithstanding tne iao' "'','
more rent lofts were carried over IN the u''h0o'
a,s,ric, than during any period OF the laet ten
years. .,.
"With reference to sales the prices are shane
bigher ,ba, IN 1892 think that the indications for
the next February renting season are inuch I'M
proved and that many of the vacant lol's WI" oe
taken We are advised of number OF i"S'a"0
vhen ,ofts which have remained vacant for the
tIy hoan |
give YOU an instance of new building about zen
stories high in progress Of construction by John l.
Williams M Nos 7O7 and 100 Broadway which Is
still unroofed but IN which every apartment i ell
gagged from February next. This s Ia the nelghpor
hood Of Houston-st.. and the tenants represent
wide variety of trade quite number are een
10 Indicate that these buildings are more HSsy
TO rent better next February than last year, ~
agents do not begin TO make CohIi'uts ~ ,hese
last OF October 1t IS quite certain mat II tis s
hudjnrs viii not suffer The money market for this
class of investment was never easier LarBs SuIi.s
are nd * per cent valuation TIE Insurance rates
are n little higher varying in their scale acc ,rulns
town investments just now are mahahg u, rauSav
bond or course so far as locations are concerneo
the highest values for property are IN Wa hS
ever 40 FAR as orr line extends. Is Ffth-ave ana
Broadway, from Twentieth 10 Tnlrteth SIS. ,os,
business mas begun tdiHei t"''
when II did no, show any signs or activity untlt
49, IN fletcher This year we began to receive
inouries as early as August !. and even IN July.
Rmsness on broadway from Canal to Fifteenth g.
has for nearly fifteen years been In dorna nj sii,
hut within the last eighteen months there mas pse'
an evident change In the condition there; W men I'M
movements began In Greene-st several years ago
many tenants vacated Broadway for that thorough,
more commodlous buildings In Broadway, tenants
are returning and occupying the new structures.
They were Of course attracted 10 GTeene-sti py
reason of the increased facilities afforded .ich as
heating lighting. elevators and the Ike Inere ~
nracticallv rebuilding of Broadway gong on now
between Canal and Fourteenth SITS. ana thore - a
is,inr Nve Years ago and those which prevail no..
Every new building improvement upon its pref
eccssor and tenants naturally seek pui'uinss ""e'e
they can get the best advantages