New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-07
REAL ESTATE.
BUSINESS IN THE FIELD.

that prices advanced iota. but the feeling was
that OF one who has been houndering In morass
and has suddenly and Unexpectedly found himself
standing on solid ground The feeling OF I'M
rest. discomfort and even hopeessness gave way TO
one of safety and security. with reasonable guar
antee fer the future. II may be said. beyond the
possibility of just contradiction that within two
days after the result OF the election nNermont was
known there was relaxation In the whole heid
Of mortgage investments. on Thursday one OF the
best-kncwn real estate men in Liberty-st.. who
deals largely in mortgages. said 10 a Tribune re-
porter:
at may seem strange to you that the Vermont
election has already had effect in oosening up real
estate mortgage matters, but 1t has The feeling
in the market had been screwed up almost to the
limit 1t had certainly reached the sticking place
1t would be folly under ordinary conditions 10
ascribe change for the better in any branch Of
the real estate market to the result of the election
in one State. But analysis and history show that
the fall election in Vermont in Presidential cleo
ton year is an nfalible index 10 the result in the
whole country. The analysis also shows this time
that fully ZOO Democrats voted for sound money.
That is percentage of o. and 1t means that old
political lines count for nothing in this crisis, and
that the sound-money issue will sweep the country.
That means stability and security in the financial
world. and that capitalists will loosen their purse
strings The feeling of distrust Of so good
security real estate has already lessened. and
buyers and sellers are brought just so much nearer
together"
The feeling is strong among the bestnformed
real estate men that the condition OF the market
will steadily improve from the present on.
The large number of brownstone front houses in
the upper central part of the city whose front doors
barred with wooden shutters led old real
estate man to comment follows on the changed
way of living in this city: The number OF houses
in this city which are boarded up until the holidays
Is enormous. and 1t is steadily increasing People
here following the English custom more and
more of having out-of-town houses. where they
live six months even eight months in the year.
many of them from June until the middle Of jan
uary Why hundreds of these people keep any city
house is wonder Whereas old-time business
men used live in the city except during the hot
weather. the business man of to-day lives in the
country for eight months. There he keeps his fam
fly and has his horses and dogs. and follows the
English style. Where the fine old mansions,
famous for their entertainments. in lower Fifth
and Washington Square? Supplanted by bust
ness houses. The entertaining is now done in the
country. The average city home Of the OF
means has been growing smaller and smaller"
The rental business last week was brisk. consid
erably liveer in fact than the week before There
was little demand however, for dwellings for
rental This demand which In recent years has
ent time TO for apartments. member of
large firm which deals principally In rentals OF
houses said last week: Economy is the watchword
with those who have been renting the smaller
houses Four five tenants of ours who have
rented houses through us for years have taken
apartments for the coming year. They at first
sought reduction. We have made no reductions
took pains to follow these cases up so as to see
what the tenants did when they found they could
get reduction and then went elsewhere They
took apartments. Many are seeking apartments at
$500 a year but few find them. Everybody who
rents for himself seems TO be seeking to reduce his
rent"
Office buildings inclined to believe that the
ing big Office buildings will be erected by syndicates
Inst Of i,1it lie I'm ha IF he
Astors. should they choose to undertake the cree
ton of more such structures The ST. James Build
capitalists thatrs putting up the office buildings at
No. Il to % Park Row twenty-siX stories and $sS
feet above the curb AS in all large transac-
tons involving a heavy Investment Of money. the
sible loss and it is true in the erection of these i'm
mense office buildings.
Justice Bjschofs decision in the case of Levy VS..
Rothe the full text of which has just been pub
lshed. is of interest to real estate men since 1t
deals. Mrs. ROthe made with Levy contract, of
which the following is a copy:
in hand paid, the receipt whereof is hereby
knowedged, and of other good and valuable con-
siderations do hereby give unto Daniel Levy. Of
the city of New-York the option and sole agency
to sell and offer for sale the premises No 257 West
for the period Of six months from the date hereof.
and hereby not to place the saiC premises for
sale during the SAID period in the hands OF any
other agent or broker. Price. $4,000"
Mrs. Rothe herself. within four weeks. secured
duced a purchaser but Mrs. Rothe sold the prop
erty to the man she had herself secured She re-
fused to pay Levy commission. He brought suit
alleging exclusive right TO sell Justice BischoN
holds tina. the full effec, Of the word option is TO
give Levy the sole right to which he laid claim Jus
tice BischOff declares that option is synonyme
for choice or preference making the Century
Dictionary his authority This ''preferTen3ce" he
erty within the prescribed time even over the de
awarding the piaintir his full Commission I'
Philip s Smyth makes complaint against the
agents of real estate dealer who boarded -four
"A exclusively
those attending the Smyth sale of lots August 25
and made themselves nuisances by distributing
maps of opposition sale Mr.. Smyth got even
by holding another sale in Westminster Saturday
and drawing away bidders from sale made by the
other man. The head Of the firm employing these
agents disclaims all responsibility in the matter
The Smyth sale Saturday was largely attended and
the bidding spirited
Among the auction sales announced for this week
Estate e Saosroom 70 % e a William Kennelv
will offer the fve-story brick tenement houses No
In foreclosure sale. Due on judgment. s22 J5l.
On Wednesday William Kennedy will sell in fore
closure No 4ss Manhattan-ave' three-sory stone
also Nos. 1916 and Gas Broadway at Fifty frst-s.
in conjunction with No. re to 7s' Sevenh-aye
l51.l0x47 feet; leasehold due on judgment. N2.sls
William n Ryan will sell in foreclosure. in Catha.
rine-st.. Wakefield. town OF East Chester. half of
vacant lot No. go in map of Washingtonville 25x
100 feet; amount due &:%3 George r. Read will
Eighth-ave., Il Inventory stone-front fathouse. on
lot %xlW5 feet; amount due. H4,es4 Philip A
ave- near Nnety-second-st. a fve-story stOne-front
dwelling on lot l5xlO0; amount due. s29i2; prior
mortgage $1.cU
On Thursday A. l.. Soulard will offer for sale in
foreclosure the rights. franchises tracks etc. of
the Twenty eighth and Twenty -ninth Street Rail
road; amount due. ssli567. William Kennedy will
sell in foreclosure No i29 West Thrtieth-st
Ninth-ave.. a four-story brick tenement house with
three-story brick tenemen-house in rear. on plot
25xllS.nx25xl57: amount due. 1896 also No. %
tenement house on lot 25xloo6; amount due IS 90.
On Friday Strong q Ireland will sell In foreclos-
Nos. and West Eighty ninth-st.. near Central
Park West. two four-story stonc-front dwellings. on
lot 31xlJ0.S feet: amount due. A.5l1. Peter r.
Meyer will offer in foreclosure vacant plot 5Ox
lOOll feet in West one hundred and min tn ST.
the Boulevard plans filed for two hve-story brick
hathouses: amount due. I59. ID. y. lngraham
Co. will offer in foreclosure No. 126 Alexander
ave. near East One hundred and thriy four st.