New-York tribune., 1896-05-25

REAL ESTATE.
BUSINESS IN THE FIELD.

Last week was SLOW one IN real estate t""'"N
tions. especially private sales, although there
was considerable movement in vacant lots and In
dwellings. Net many parcels OF improved prop
erty changed hands the result OF the week
transactions. While the season is not yet ended
there was a general slackenng up in sales OF pr
vate nature. which indicates a gradual cessation In
activity. number Of operators and brokers sailed
for Europe on Saturday. yet among these was the
head OF only one large firm. large number OF
deals are still hanging fire. and there are promises
OF announcements from day 10 day.
The decision OF the Appellate Division OF the Su-
preme Court against the plans presented by the
Rapid Transit Commission was the principal theme
Of conversation in real estate circles the last part OF
the weeN. 1t had no direct bearing upon sales or
values, however since II was not handed down
until FridNy. Furthermore. the great majority Of
real estate brokers expressed the opinion that there
had been no special calculation based BY them upon
the prospects OF the construction OF the proposed
underground road in view OF the uncertainty OF the
final decision OF the courts upon 1t, and especially
since held in conservative real estate circles
that 1t would probably take much more time for the
construction OF the road than its sanguine friends
expected.
There Is little doubt that the views Of real estate
men on this subject are somewhat affected by the
line OF argument which appeals more or less direct
ly TO their own interests The old-line men are
Interested in the southern half OF the city. Those
who have handled property in Broadway from
Flfty-ninth-st down. and especially below Thirty
fourth-st seem TO have been imbued with the ap-
prehenson that the construction Of the road under
that thoroughfare would at least temporarily check
real estate operations there. The fight made against
the road by Broadway property-owners below Four
teenhst. undoubtedly had It's effect in influencing
brokers. dealers and operators IN their Views as TO
the immediate future OF values In the face or this,
however, those who were sanguine, and remain SO
still that Broadway property would be benefited
by the construction OF the road point TO the erection
of the American Surety Building. and especially 10
II. .. Havemeyer's unfnching faith In the situation
In beginning the erection Of the ST. Paul Building, at
Ann-st.. and the large ana tall structure on the old
Metropolitan Hotel Ste at Prince pending the
work Of the Commission.
The discussion over the Courts decision has been
the most lively as to It's effect on values on the
upper West Side. The West Side Taxpayers Asso-
citation was organized several years ago especially
to secure rapid transit for that part Of the city,
What wanted rapid transit Of any kind,
and II wanted In 4 hurry. number OF prom-
citizens Of that part of the city urged the ex-
tension Of the elevated system because. It saii
that would lie the speediest solution OF the ques
tion Many others looked further ahead, and pro-
fessed willingness to wait FOR the underground or
for viaduct road II one could be put through
within a few years. The decision has undoubtedly
been disappointment to a great many property
Island Now these who have been friends Of the
elevated road. through thick and thin roundy
declaring that the extension Of the elevated is the
This view. however. s con,roverted By some well
known real estate brokers and operators. Horace
S. Ely says this point 1T IS not necessary 10
regard the extension OF the elevated road as the
only way out Of the difficulty. There are streets
a road Nigh, be built partly in the streets and
partly through the blocks No definite sugges-
which an able Commission has wrestled with can be
satisfactorily solved. Some real estate men see
partial relief In the uptown situation In the lur-
chase OF the extensive property on the Harlem River
between O1e-hundred-ands sixteenth and One-hun-
dI ed twentieth SITS by the In!rd Avenue haii-
failed to get the Kinesbridge Road franchise. the
metropolitan Traction Company Is planning 10 con
tinue its Broadway lines by another route to the
eccny d q o2aa sa sas Board of Brokers
Is Is setting to- work e%gergenSay en- It has arranged
and Twenty fourth wards for the OF members.
Especial attention will be given 10 property on
ments. It is intended that within two hours after
inquiry either direct By telephone. the desired in
Pedestrians in Broadway have been paus.ng the
last few days near the Trinity Building to take
the top of the American Surety Building opposite.
Aside from the color and general effect this decora-
so FAR out that should John Jacob Astor carry up
the Schermerhorn Building twenty-five stories or
the direct line of the upward march OF tho new
building. The representatives. OF both in.-.ests
The sale OF No 10 Wilam-st., at Liberty ST.. last
week calls attention TO the fact that this part OF
the city. extending down nearly TO Wa-st.. has
gradually become the great centre for fire Insurance
companies The property sold at something
less than SlG0 a square foot. There has been a
general advance in values In this concentrated sec
tiOn.
j. VI. Baldwin and Charles H. Ingllss have pur-
chased No. iH West Forticth-st. 25x9S.9. from the
Kaufman estate
Edward Rafter has arranged with Herman Wron-
kow 20 exchange four nve-stOry brick tenement
houses AT the northeast corner OF Third-ave and
Ninety-ifth st. for the Henry c. Miner property
on the Shrewsbury River. Mr. Wronkow secured
the latter property recently in exchange for an
apart tnent house uptown.
There WI be some Important auction sales his
week james l.. Wells will offer on Tuesday al
Bedford Park. situated I'm Jerome-ave the south
ern Boulevard and Suburhan-st.. and in Anthony
Briggs and Scott ayes William Kennedy will sell
at the same place at the same time eighteen lots
I'm the Twenty-ffth Ward located at ST. Ann save
and One-hundred- and -thirty-sixth-st
There Will be several outdoor sales next Saturday
George r. Read Will offer sixty-flve lots al Morris
Park-ave. and Bronxdale-ave. near Van Nest 10
close an estate. Philip A. Smyth will offer at
Mount Vernon twenty-five lots In West Fourth
south Ninth and South Tenth ayes James L.
Wells VIII present for sale $50 lots Of the Mapes
estate. east ot West Farms. in the Twenty fourth
ward and near the Van Nest station.
william VI. Ryan Will sell the New-Y York Reol
Estate Salesroom on Wednesday the Trinity lease
hold. known as 5s5, 6S7 and $50 Greenwich-st. and
Nos; 2sS, 300 and 800 West Houston-st. Ii consists
OF i've four story and cellar brick buildings with
has fnot