New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-02
REAL ESTATE.
BUSINESS IN THE FIELD.

Tho manner IN which New-York City grows ana
develops and the processes by which It's lde ANUS
are taken up and permanently Improved torii al
interesting study. OF equal interest too, Is 'he
s,ahNi.v and continued advance of It's real estate
values These points have been forcb.y illustrated
by the course Of the market for the closing "eeh
Of the month Of February. Considering 'he Iao'
that the security market In Wall street mas oe''
undergoing d downward reaction from the prices
reached II the previous week II is noticeable tha'
m. realty market has developed into unusual me-
.,v,,v and an extraordinary amount OF business
has been done That the total Of reported private
xles should have reached the sum OF S'o""', ~
which sum may be added almost s5"'"" rea''~eu
at the sa.es at auction, aggregating totai sum
~ 800 900 for the last week S. without doubt,
cause OF congratuation among real estate proheie
and In fact the outlook ior 'he I.a..s
market as predicted in previous articles' sHo"s
that the market is becoming more oiVeisi"ei
and that it is broadening in its character as wen
as advancing toward higher prices. Purchases oi
downtown property and vacant land are reported
IN unusua, numbers. and these two classes OF realty
eocn, 10 have met almost equal favor. The only
apparent weak point is in transactions nVoVms
private houses and they UNEXPECTEDLY cut d IT,
n arkably insignificant figure IN the business re-
ported. 1t Is known. however. that large mum
hcr OF sales at private contract or TINS class Vi
nroner,v have been closed: but for private reasons
the parties interested have refused for the present
70 disclose the details of these TRANSACTIONS " men
they are dlvulged It is safe to predict that pusi-
ness in private houses will compare favoraDy VII"
active classes OF realty.
There was a considerable business in lot sales IN
the last week. numbering In fact ABOUT l'o' a'
an average price of about $4,000. and aggregating
81 600 This Is better showing than was maze
IN January when the remarkable onslaught was
made BY operators and investors on unimpFo'eu
land in the Washington Heights section Inc
sale made BY the Moses Lazarus estate, Oh NO.
81 Broadway 10 the Plnkerton Detective Agency
brought remarkable figures. The pot contains
about 5.76s5 square feet. The sum realized was
1895 Opo or SIS 80 a square foot This is the highest
figure ever obtained for property on the west side
o. Broadway in this locality The last sale, mahe
q few weeks ago of No. SO Broadway by the Lang
don estate only realized s52 81 a square foot Inc
resale OF the Old Clearing House property TO john
l. saarles is the third sale of this property made
by George r. Read since January. 1t is said that
over 100000 profit realized over The inquire Sc
cured by the Clearing House Association. AT these
final figures about $40 square foot was Obtained
which is the highest price that has been obtained
for property in the neighborhood.
The recent purchase Of jefferson y. Levy from
Mrs Elizabeth W Chanler OF No. ll2 L!berty-si.
an. Nos Us and ll5 Cedar-st is a forerunner OF
the great advance IN prices predicted for this To-
cality Mr. Levy is regarded of the shrewd-
est dealers in the realty speculation market, and
his speculative movements watched with In
terest by brokers and dealers in realty.
The recent purchase of Park Row property made
by William NJ. WINS unquestionably nego-
tiated In the interest of a syndicate that appar-
entity has in view of the most important build