New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-03
REAL ESTATE.
BUSINESS IN THE FIELD.


There we're few features outside Of the prevailing
run OF dulness in the real estate field last week
Nearly every broker professed TO be In a waiting
mood while those who we're in the midst OF a large
deal looked as II they were doing something won
derfu for this time OF the year The broker WHO SOU
che Moer building for sum somewhere petweeh
$4,000 and 100000 regarded with envy by those
who accustomed TO large transactions cohsiuerea
It almost improper for sale of such magnitude 70
be carried to completion amid the general stagnaon
In business.
Az already told In The Tribune. depression IN the
real estate field is deepening and broadening eacn
week II is rare that real estate TRANSACTION Is
wholly cash one Mortgages play an important
and essential part in the business. Ara then w.
in these days OF financial trepidaton. many ma"
In another line OF business desires 10 raise money o
his rea! estate But he finds this difficult to DO now
Money is tighter and growing rapidly more So
Every one familiar with the situation knows lnat
the strngency Is due, not TO lack OF money p"'
merely to shattered confidence. One OF the pest
known real estate brokers said the other day tha'
those who have hitherto been lenders OF money
on real estate are now holding IT back II they 90
offer 70 loan 1t at all. It is with a god clause
proviso and Il is seldom that a wouldbe borrower
unless he IS desperate will consent to placing NM
self where there Is any danger or having 10 pay
double the debt contracted The large me- saving
guarantee ard real estate companies declare tha'
do on the old basis and method. Any other course
vould cause 4 diversion OF their business into new
channels or into the hands OF competitors InIess
there Is a union Of all these institutions upon 'he
gold clause and loans OF less than so per cent on rea
estate representative officers among them hoia
that IL Is useless for one or ie" Oh l''e'' ~ ~
such a departure.
The renting season for houses to be occupied oy
October set in last week. This was particularly
noticeable in the many real estate Offices IN Coiun
bus-ave from Fifty-nlnth 10 One-hundred-anu-
tenth-s An interesting feature OF this was the iAc
that in nearly every Office women were the ones
who were obtaining the information. talking rents
and in instances closing the bargains One wealthy
widow drove a close bargain with smart real estate
man about halfway up the avenue. she did better
than man could have done. Most or the o'her
women were married and were acting as advance
courers for the men folks or ese they were
women with IN eye for business. Many Of them said
they would call again." which. being interpreted
meant that the head Of the house would compie's
the bargain.
The option obtained for the new site Of the Church
OF the Divine Paternity at the southwest corner OF
Seventy.sixth-st. and Central Park West, Is hego
tiation wholly outside of the general conditions
The trustees have all along wanted TO secure size
on the upper West Side. and they so announced
The one chosen is an ideal Although the lot on
which the parish house would be erected is re-
str!cted TO private dwelling use. the trustees De-
ueve that the neghboring owners VIII consent 10
a removal Of the restriction
There has been great deal Of talk among brokers
as to the exact sum for which the Mor building al
the southwest corner Of Slxth-ave and twenty
third-st was sold. The property, 1t is KNOWN was
bought a quarter OF century ago Tor s'o'V" Inc
present building was then erected by MI. MOTT. AS
an indication OF the value put on the properly VII
term OF fifteen years at $4,000 year or on d "a
OF per on 100000 There VIII prooaoy no, De
ffforF
This fact united with the announcemeni dnau on
business Conducted there by the late William Nor
is interpreted by some as indication that Ehrlcn
inyes1or'' now Spoken OF as the purchaser.
The postponement OF the Chesterman sate u,i III
present Is bad time for the sale, has led some
brokers make the remark tnat me da,e ,s his
and other sales. , -, ..,,.-.
Among the auction sales for the week the ioho"-
III" To-day %i William kennedy viii sell in foreclosure
at No III BTosqiw ToSf dWe WEI also the
brick factory occupying the block front n
Rrvan / Kennedy viii offer for sale No Living
ston Pace a three story stone 'front.' dWelIhs We.
Nlnety-sixth-st a four-story and basement brown
stone front dwelling. with carpets hxtur y;,,s etc,
gainTs H. No 1ss west One-hundred and frsst
fve-story brick hathouse, and No 3Os TO 5li West
ment brewnstone front dwellings each 1913 by 100 II
feet. D. Phoenix lngraham & 60 VIII sen Su,
Fifth-ave a four-stOry and brownstone 'front.' DWELL
ing. ~ III, -, T., ,o-a
closure No. l64 DlvisiOn-st, four-story brick
factory. The following, day philip 4 smytn III, WIN
story brick building: also in foreclosnre NJ inv 90
James L. Wells will sell in foreclosure SIX lots AZ
Throg's Neck in Washington Place, Green ana
Morgan ayes and William Kennedy will offer lot
al the northwest corner OF Bradhurst-ave. and one
hundred and forty eghth-st.
patar r Never & Co will sell in foreclosure on
Friday No Is East Seventy siXth-st, four-story
and basement brownstone dwelling. and William
Kennelly's offer Will be No. 15S East Sixtieth-
four-storv and basement brownstone dwelling.
John B ireland has filed plans for ten-story and
Ion huidinp 10 be erected at Nos $40 and 5l2 Broad
vay building of the same design Will in time be
put up by him adjoining part OF the DlocK
fronting in Broadway between Prince and Houston
SITS. . .
George r. Read & Co have rented to tenants
several offices in the ne - eghteen-story Bank OF
Commerce building at Nassau and Cedar SITS, which
will be ready for occupancy May next