New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-10
REAL ESTATE.
BUSINESS IN THE FIELD.

BUSINESS IN IiiT- Ei~H~'
II NAV have been only a coincidence, but II was
nevertheless a curious fact that the setueihe" -
the Government, bond issue was followed almost
Immediately by the closing OF number o. ihnpo'-
Inn, transactions IN real estate. Some OF item
had been hanging fire for some time 0e'"i''
real estate during the tendency OF 'he sA'o "a
eminent bonds remained firm there was never
less much hesitancy on the part OF "ia"' m
ves.ors and especially OF that class known as spec
u,a,or. for fear OF their inability 10 obtain ue
a,rabe loans But II is said that a great par
of the large sum of money that the ote"a'. ~ "-'
cato had mado ready to subscribe for ulii'eu ~
bonds but which finally was not loaheu u -.
eminent will now naturally seek ih'es'''o", -. 49, -
estate mortgages in New-York City at ana az pei
..,, Tha Government loan having been c!oSeu' d
,o,ro,aa,ca similar 10 that which followed 'ie P''
y,ous bond issue is predicted III H.
marked Improvement In all INES III 'e' J.,
.,rAaav noticeable by those who are ihaAi's
q. The market 1t Is known tha' many , i-"p n.oe,
s,s =, nronerty were practically closed las' "e'N
80 .h.sa vviil soon be disclosed. and the SAFE Oh
o-.,, yu involve II IS said, over a miiho" u'
lars The property referred TO Is IN '"e Nv -
- o,,v The brokers conducting many OF these
largo deals have rarely ever been 80 Sny u
c,ew 10 their business operations Us NV ,a
r,any reasons therefore. severa i"io''" .u
..,n, consummated will not be discloseo uii'
wary detail IN the pending contracts are Ss"eu "''1
sealed. ..,,,r.s ~ tina real
O,a ~ the most significant features OIL '"'
estate market at present Is the app.aia w.
o.ors from all parts OF the tnited o'a'es'
we're In fact capitalists even from
49,, ,ast vveek with money to loan on reaIF'
NV AGITATION now being made for the passage Vi
. law by the Legislature against the Vo"9 -, .,a
=, "skv-scrapers" has caused the hli's WIN ,,
nra,r, Denartment Of many new plans for ms"
,undincs the promoters of when nave "o
ton Of beginning building operations lot a.
49,. yaors at is known. for example saiu
,rontnent real estate man on SATURDAY
,,mv are leases held by tenants IN ''e p'0P0'
tho corner of Rector-st. and Broau"a!'
x po,.e- nronertv and also in the downtown
ze,g,er nroperty which will not expire loi I" - -
100, .asrs The plans filed for the great ouiio''lss
~ ,bose sites are not likely, therefore, to De car
r,ea out pending these leases IheSe are '".' ,
smnles OF what may be reasonably eNPec'
.roi o,her announcements OF a similar cha' ao' .
Attention has been called Of late TO rea $50 80
,a,a, north of Chambers-st., and the oP'i''onS
., dealers as we'll as OF owners OF properly 0' 49,.
graat ,boroughfare have been from time 10 '''''s
given in values and profits A large o"''' -
realtv in Broadway said on SATURDAY -
Una, property there is now undergoing W..
severe strain as values The cohs'al' m
hor, the construction of a rapid transit system vi
tbis street Is doing property incauiaoie "'' ' ~
c,alIv in the retail and wholesale ar! soo"s u''
Merchants must have some place TOT 'e0e'," @ -,
tIr>,r- Goods The present accommodations III
his
are in the blocks other than the corners 49,
,h,s street 70 be torn up for long per1od Oh "'ie
Gov the building OF underground system OF r"p.u
transit would force many large business houses
move on me roner,v without tenants to-day, owing
nartiaiiv TO this uncerta!nty Pr0peiS, .n vaars
renting ~, To- pwners OF property are fortunate II
t5ev clear a net per cent proht Oh 'he' '''
one Of the prominent brokers In the cry VINO
makes a speciality OF Broadway realty s"'u ''9
rents comparatively low on thls to re
Is difficult to ma naa an these low rents
In TACT can sell readily any properly IN t.iis - ~
showni ne. prom The property Many Of the new
structures are built covering an rh arsa ariords
eYerv facility desired Shipping goods pTopery
covering only single lot cahH rh III .'s low an enor,
nous amount Of competition for tenants; ID oiee are
fiji up the buildings recently to secure them
6us,ress IN rhe auction rooms has been somewhat
Eht ssa 40 are about onesxth Of the results for
the corresponding week OF last year ealing off in
business IN The total was only ss4s5 while
for the same period last year the results
h ne Volume Of business at private contract in ths
city last week realized tne sum OF 81 5o m VA
rSs convevances reported last week were 49, Of
sarted nv total of sl6e 9l5. For the Correspond,
,pg Week Of last year the transfers numbered 80 OF
spnted by tota, Of A.Osl26S. In the Tweniy-thlr
and twenty fourth wards inSiudng the nTw az" Of
which forty-three were nominal. the cons.1eI IN
co. the others amounting 10 S%543'p. against my
seven transfers of which twenty nine were "o''''''
The Others amounting TO S2S'3 :, =, 49,.
According 10 the plans Med last week IN tnl5 !,
CITY with the Building Department, the estimate
cost Of the projected new buildings as nsurea ny
Tho architects reached the sum Of Slo3'sJo against
sSI1s o75 for the corresponding week OF last year
There were 39s mortgages involving me slm 81
.,2aa 500 against & 2lS 420 for the same period OF
1Sa5 only about % per cent OF the money was
ioaned last week at rate exceeding per cent m
,erest a wear while the balance OF the loans were
made At a rate not exceeding per cent, or al
less rate -, -. r-,,a,a contra p,
about one-half OF an acre Of ground al Harr'nSton
p,rk Y j. 10 William r. Chapman, for many
tears the organist Of the Rev. DR.. kittr!dge
sS"rcb Nadison-aye and Fifty-seventh-st. Mr.