New-York tribune., 1896-08-31
REAL ESTATE.
R1-SINFSS IN THE FIELD.

aroe One who did not move around among 'he
leading real estate Of the city could no' wen
realize what an inspiring effect the letter hao' !"
was the clearness and directness with whicn 'iie
sound money question analyzed and the 'ai-
lacv of the silver mirage was shown tha' appe"e'
70 these men OF "horse sense. Sounn-mone' ''"'
ocrs,s were the most pronounced In their EXPIRES
.iops ~ Measure There was ring about 'ne
le,tsr that pleased them. They did not thlnN o'
o,,,os They had been hoping for something on
u,bich 10 hang their hopes OF better nnancia'
condition II is seldom that any puonc coinniu''
.a,ion has such a soothing effect Men VINO hao
heen gloomy or doubtful began 20 talk cnee'"S'
Although business was light. the tone OF every
,h,ng was improved. Hopes for September husi-
ness beginning by the middle OF the MONTH came
70 the fore
An interesting news item Of the week came
,s,h The announcement that the lease which
1udN-is Raumann g. Co. had been trying Tor some
time TO secure from the William As'or es'a'e VI
The nroperty at the southeast corner OF sixth-aVe-
and Eighteenth-st. had finally peen slsh'u' NV
plot is 20 feet in the avenue and 40 lee' III "le
street II includes liquor-store at the corner
and four private dwellings, in Eghteenth-st. bau-
mann & Co will erect large store on the si,e'
which adioins that now occupied By them IN SN'h-
ave as soon as the leases expire. whlch VIII hV'
he until May l. 1860 The new building VIII pe "i-
iectly opposite :hat OF the Siegei-'oopei I'm
pany's huge store. The erection or TINS pulIolhs
on the cas-. side Of the avenue, together WIN 'he
large stores Of A. J. Cammeyer. at Twenueth-s''
and the Morgenthau building at Nineteeen'h-s''
indicates that this side of the avenue is bound 10
share the popularity Of the west side Ihe Vaiue
of the property OF the William Astor estate on the
site 10 he occupied by Baumann q % - eS"
mated ~ about $4,000
The renting business continues excellent on me
upper West Side. This last week the ueluai'u
for houses apartments and mats grew ai"oSt
lively Peal estate men in Columbus-ave allowed
their faces 10 relax into smiles. The demand ior
houses for rental on the West Side from Ffty-
ninth-st down to Twenty-third-st has oeen
active for Two weeks. Houses renting a, from
sle0 10 81 800 have been especially sought 1or' a
good many persons have also been ioohns 'o'
houses for boarding purposes
Justice Pryors decision that the ciear-dealer
Tesio Gid not show aifrmatively the damages
,ha, might ensue 10 him If the owner OF the pro-
posed Herald Square Hotel should take the rooi
off his head adds 10 the law cases OF interest,"
n real estate owners. Tesio occupies the hrst moor
If one OF The th-ee-story buildings which nave
been OF are TO be torn down for the site OF 'le
new hotel He lays claim 20 lease until May J.
1897 The agents of the Davies estate from whcn
Douglas H. Schneider sot the property, declare
,hst the cigar man had only monthly lease lie
bss not produced his lease. Mr. Schneider pro
posed 10 tear down the two upper noors OF ue
building in which Tesio had his store ana theh
uut a temporary root over Tesio 10 Keep MS
cigars dry Hence his application for on inJuhc-
ion But his inability to show damages III al
,ance makes it necessary FOR him 10 submit tor
lie present. II he had only monthly lease 'ld'
has expired that FIVE days notice ought 10
settle the controversy.
The legal squabOle among some promoters oi
real estate deals 10 get commissions out OF the 81
lanes Hotel sale developed the fact last week mat
there IS what Is called real estate taking pro
,noter" Although the term is unknown 10 some
old real estate men. ii appears ihat the 'dihiNs
rrornoter" is the who buttonholes possible
buyer and talks Il into him that here Is IN oppor-
tunltv of his life to purchase a certain piece oI
properly and make fine thing out OF l.. 1Ie
talking promoter" in other words hunts up hiS
man and talks him into looking at the property
If he can There the talking promoters WORK
ends and the practical man. with figures. plans.
details etc comes ill., But ii there Is "A sale then
the talking promoter bobs up for d commission.
The talking promoter IS feature well known
IN floating enterprises to catch capitalists great
aud mall but this is 'he nrst time he has been
dragged TO light in real estate deals. The average
r~al broker is generally smart enough 10 he
The dificuty Of getting from the Register ;
Shich is transfeireJ is emphasized In these days
Ahcn there few sales and many exchanges
The nominal price Of 81 appears frequently. This
- a. mere blind If Il price is attached 10 piece
Ct proper ty in conveyance. II Is not necessarily
trustworthy guide TO the value of the property In
Tam,nany Halls heyday regular hocus-pocu was
piayed IN this way with nominal prices for the pur-
nose Of conceang Identities and real values. In
one family transfers passed back and forth for 81
Nobody could trace the actual consideration, 80
when It comes TO experts. there is end to their
variety Of opinions in fixing the value OF piece OF
property. we-known real estate dealer recently
had experience with experts on the price OF
parcel n the Bower Experts i9i tns HMher irs eS!
mated the total value or ground ana Duliulus a.
$4,000 The real dealer went TO work on his
and the history OF the prices OF other properly az
dining and in the neighborhood as wen as h the
$50 900 in that alleged $4,000 When one considers
The great difference In estimates which experts ior
he cases of property TO be taken for municipal
uses. there is no longer wonder that redi estate
values seem TO defy experts. The awards for the
Fort Washington Park property fairly took the
breath away from property owners whose , eN-
shrewd real estate man is preparing a com
platon of the tory of values of property IN the
use He ought TO make money by it, for himself
The closing of the mammoth store of Hilton
& Co lends TO speculation as 10 the futufe
Of the great building. firm. corporation or syn
acsts wnS1 oud NOW pow Undopbtsd choose different
strncture might readily be cut up into Offices A
variety of stores might occupy The first floor
With the exception of Depau Row which Will
Civ. wav TO q model hotel for wage-earners. the
future of the remaining Stewart real estate In this
city seems uncertain. The old Metropolitan Hotel
O. Havemeyer. The Coonnade Hotel and We Ode
replaced When the Manhattan Club lease ex-
pres the old Stewart mansion win be good neither
for dwelling or business VIII It be torn down
The club will probably move uptown by that time.
TIE Stewart Building will have 10 look for new ten
ants when the city gives up its Offices there.
Among the auction sales for this week the fol-
lowing are announced 10 take place at the New
York Real Estate Saesroom: James l.. Wells will
one- ir foreclosure to-day No 3$7 East One-hiin-
dr.r-a and-tw enty third-st thTee-story and base
msnt brick and brownstone dwelling Due on ludg-
ment S7.640
Wednesday William NJ. Ryan Will sell IN fore
closure No 20 East Eighty ffth-st. a three-story
hrick stable. Due or judgment. $3.50. ID Phoenix
Ingraham e. Co will sell In foreclosure No 36 TO
~ East One-hundred- and -ffth-st three hve-story
brick fathouses on lot 75xlGJn feet. Due on Judg-
nent. sle10 Philip A. Smytn will Offer in fore
closure. No $50 West End-ave.. l5xloO feet. four
story American basement brownstone dwelling.
Peter F. Meyer & Co. will sell Thursday In
foreclosure No. 20 Souths;. sox26 feet five-story
brick building with store. Due on judgment, $2575.
William NJ Ryan will sell In foreclosure No 29l5
Eighth-ave. near One-hundred nd III -fourt hs
Hxloo feet. hvestory brick tenement. with