New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-12-14
REAL ESTATE.
BUSINESS IN THE FIELD.

lots and one or private sales The week Wa
prolific however OF rumors Of sales, none o. "''.''
have vet been contaminated but which promise 10
be closed before the holidays.
Little demand has been shown recently Tor business
property in the downtown districts. vi course me
have been sa.es and exchanges reported from time ~
lire but on The whole the real estate marhet III Inns
respect has been unusually dun TINS Is largely a..
counted for by the fact that rents have peeh e"cee'
ingIv low If no; steadily the decline in the las.
wear Thus the large operators feel hestahcF' u''
rer.s improve about dealing in office buildings Inc
suppiv In this direction already exceeds the demand
and owners Of business properties are comp'eu a.
present 10 content themselves with returns on the'
investments OF sometimes as low as = to per cent
There Is no lack In the hands OF investors
which they are ready TO put into paying real estate
ropertv and despite The relatively poor outlook just
at present people beginning TO realize more ina"
ever before that no investment is 80 sure or o"e'S
such a certain return. though IL DE small DIS io'.
estate The opinions Of real estate bGoNers anu
ooera,ors best qualified Judge Of the matter are
that 10y February there vii. be decided improve
n.n I'm the real estate market. that rents VIII beg
to Increase and that man; tempting oiiers t"a' al"
being held AZ present 10 investors VIII oe reau's
accepted
For some time there has been tendency 10 look
askance upon real estate transactions In when IN.
vcb,ya - large properties has been involved, or, In
other words upon what known AZ deals rms
element 50 unfortunate In some respects. can never
be- eliminated from re,. estate transactions ana SO
long rs one owner believes ne can benefit himself oy
exchanging his property for another that he con-
sllcrs more valuable he will continue 10 enter INTO
.nc, deals The unfortunate part OF these trans
actions f. that when the parcels arc large and vaiu-
able the prices put upon the different parcels "nen
the deals are reported often far In excess OF the
actual values. This OF course. Is done largely 10
boom the market and the figures given out In sucn
cases must b.. reEa r"d merely In the ight or APP
prox ir,afo values Nevertheless. 1t must be remem-
her.J hat many OF the most important real estate
transactions would never take place ana the market
would be seriously affected. II owners OF property
could rot dsrose Of Il in accordance with the terms
offered and under The cond ions stated by those Will
Ing to purchase whether the latter offer 10 buy OUT
rich, or not, There are comparatively few buyers
of valuable real who willing to pay actua.
cash or ia equivalent for valuable parcels involving
several hundreds Of thousands Of dollars and In The
large majority OF cases the only way a real estate
Transaction can be effected by an owner H. through
his taking another parcel In part payment and the
balance in cash.
The profcssIona. clement In real estate ia hardly an
unfortunate on" and II Il far from tho truth to con-
cuie that in deals put through by operators OF this
class there Is always an Intentional purpose to give
70 tho public an unfair and overesimated value Of
really in this city.
Tho most important sale OF the last week the
auction 81 tho Travers estate lots by George r. Read
in the Real Estate Exchange. More than 400 OF the
~
about s2.DG9o which T. undoubtedly more than the
heirs would have realized had the property been sold
AZ private sac Moreover. the lots are unmproved
property ana the small investors who were the
largest purchasers. will he compelled to spend con-
Siderable amount In Improvements.
Among inc private sales tina, OF handsome
dwelling ~ No q West Slxty-nlnth-st;. new In
diana limestone front residence disposed OF by J.. j.
Phillips q CO. Tor George + Johnson for TIE sum Of
&>o@. The Dimensions are 3x5sxIo22 The same
hrm sold for u. +. Appleton 10 David f. Open.
nerner. The building loan operator. TWO parcels o.
.ots in E.nriy-s.Xth-si between Central Park West
and C1iumhGs-sv" with frontaS.s OF elghty-six teet
The south SIZE ana ihry-six feet on the NORM sic
u the street Private dwellings Will be erected
L repgrlra ina, he norhwss' corner o, the
story building. has been sod by Max Danzger ana
William Hyams to simon Herman represenung me
vii pat up six story building The properly was
bought 10y the sellers IN February FOR about 5000
auction rooms for this week and the prospects are
ihai ihc week W. hc an unusually active one IN
l. K"nn-llv' on Wclnesdny. At the broadway sales
room. he VIII sell ior the estate Of John Campbell
a frontage Of ?. fe.i in Nassau-st and Isl feet in
ring back from Nassau-si An old four-story brick
building +, at present on IN, me proper,y ,o -,
estate u Austin corbn al the Rem Estate Exchang"
come; Of Fif,h-ave ana Thiry-eishthst. including
houses one q ihr"e-story and basement Hj-foo,
brown tone nous" ana me Other - four-story and
D.
Lot IN the rear. :5xs'f. on which Is three-story
stable
Exchange on TUESDAY the northeast corner OF Full
ton and Gold SITS. with frontag" OF SD feet on the
former street and ~ j,i on IN" latter. with six
story building The property belongs TO the estate OF
John r Wlson
Among oher sales in the auction rooms will be that
ly william kcnnely AZ ne Broadway sacsroom to.
Rryant-ave also vacant lot al the southeast cor
neg of one hundrcd-andeigh econd.si and King-
bridge Road. also hree-story brick dwelling No.
To- West one-hundrei- and ffih-st.. ONO
ON TUESDAY AZ ine broadway Saesroom ID, Phoe-
nix lngr,ham Will offer the following parcels: No.
story brick stable. 10, 2ox?s9: also No /. Yves,
Twenty second-s. near Fifih-aye lot 2cx9s9. four
$50 pr"r mortgag"s s5cS forecos ao" sale "@ Of
Ellen J. H. IIlights right. titlc etc also the north
and-hrstst. one-story frame building. land 30 lxOo
amount due. &'.GG foreclosure sale: also One-hun-
and Eleventh. ayes. vacant land extending through
to West one-hunired,; and eghtyeehth-st 5ox2Oo.
public auction sale OF part OF the Dyckman property.
through to No 1879 Chrysc hve-story cellar and sub
cellar brownstone factory building. with one-story
with onestory frame extension connection land 6x
22I lx2S 5A22as's executors sale
broadway Salesroom the following parcels: No. 239
West r nnn near Eishhave nyestory
vacant ana liSx2i 2; amount dae si.2.s ''"'s''
same place the follow Ing No 3l2 East One hundrcd-
between First and Second ayes.
All amount due. sis66 also No 4ss Grand-st near
stores: lot i7xs2 amo1nt due sls.Sii Will
on Friday Peter +. Never will sell at the Broad
\ and Il, nvc-siory and basement brick dwelling. lot
&%''. edsehold. and william Kennedy will sell Nos
ana ya 70 ,on nI near Es rsnihs brck
land OBSERVATION-DISCLOSURES; amount due about 500 800