New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-13
REAL ESTATE.
BUSINESS IN THE FIELD.

The reaction In real estate sales last week was
not wholly unexpected. The sudden squirt In the
number Of important transactions the week before
led naturally to this falling of. While this reaction
is regarded by the leading brokers only tenn
porary. they nevertheless have a good deal to say
about the bad condition OF business generally ex-
listing throughout the country and attribute slow
In real estate matters to this prevailing cond
ton of affairs.
There is doubt that owners holding to
s;in prices their property. In the ming hope
that boom. big or little Is at hand. Buyers. on
the other hand. look askance at this view Of the
possibilities. and decline to take any chances One
result Is that builders carrying great deal Of
property
Rentals are slow for properties Of the best class
Houses Of medi I'm value are renting with compare
tive ease. The general tendency IL to seek lower
rentals. To what extent this Will influence values
remains to be seen. There Is q glut Of recently Inn
proved dwellings and fathouses. which remain
either unsold unoccup.ed. both. This line OF
buildings Is clearly suffering from overproduction.
OF the thirty-fve fathouses. tenement and apart
ment houses OF medium range offered at auction
sale last week. only seventeen were sold. and eight
Of these were bid In by the Plaintiffs In foreclosure
proceedings. Many auction sales OF this kind of
property announced for this week.
One Of the features which has played an I'M
portant part In real estate matters the last few
years has been the purchase OF property with
view to tearing down the buildings and erecting
tall office structures the sites. There has been
phase OF inves;mcnt has been carried to such an
is limited Some recent importan, sa.es OF down
town property Involve no changes Of this kind At
least for the present. according to the buyers. II.
J. Braker. who bought the Niagara Fire Insurance
viii DO with it. Real estate men point out that this
corner was the last one remaining between Cham
bers and Wall SITS which was for sale for any pos
sble speculation.
Representatives of Louis L. Lorllard. the pur:
Fifth-ave and Thlrteenth-st. say that the building
Is not to be altered: This is readily understood from
most of Of the building and the United states Govern
msnt. which uses the frs! sorry for branch post
erty, $4,000 is saio to have brought the sellers
al ana G soKs Of n m
hopeful OF an agreement being reached this week.
last week indicate that those who are looking to
r aFi aT p@ ho q have
beer disturbed by the inroads OF trade upon that
for the last three years been making IT.
vestmen,s for future homes a.ong Riverside Drive
intense turn, real estate investment receives an
impetus throughout the upper west side OF the city
on washington Heights. along Amsterdam ana
Eleventh ayes for two or three years were sreatly
that be wanted rapid transit. and wanted right
travel may be had pending the solution OF the un-
week The sac Of the elizabeth l.. Goes estate
properties Thursday viii include parcels Tn and
rear Whiehlil-si.. on Fiftn-ave.. and others.
The sale is announced as being without reserva-
ton.
on Wednesday. April %. Richard V. Harnett
Co viii sell Ct executors sale the seven small four
story brick pr.va.e dwellings belonging 10 tie Ed
ward Cowes Richards estate at the southwest cor
ner Of Lexinston-ave. and Twenty-nfh-st. The
sale is announced positively without reserve.
Coadert Brothers are attorneys for the executors -
take action this week TO sustain the Board OF Trade
nd TTaue
before the Legislature authorizing the Aldermen Of
ncfnSe street Obstruct.ons