New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-22
REAL ESTATE.
WEEK OF NUMEROUS AND IMPORTANT
TRANSACTIONS.
ERs PROPOSED LEGISLATION AFFECTING
HIGH ADMINISTRATIONS SALES
FOR THIS WEEK.

The last week was productive OF greater num-
Der of sales of realty. Of dealings OF more general
interest owing to their varied character an" '"e
wide area they covered, and OF many more trans
actions in large and valuable parcels "Eere ac'u'i
cash was given In payment than are SHOWN ny !'e
records of any other week since the new year
began This is Of especial significance wheh II Is
considered that II Is between seasons row ana 'h'
brokers are giving their attention more particularly
to renting than to selling properties Many pur-
chases were hurried through by the anxiety OF IN
vestors TO get title to property In ample 'ime 10
tear down Old buildings and begin the erection OF
business houses fahouses or dwellings. accoru'ns
10 the location. this spring. Many Uahsac'o"' Vi
this nature noted. and 1t was a busy week ioi
the architects and builders. while at the Buidihs
Department a large number OF pans io' "'"
structures was fled.
CONFIDENCE OF THE BUILDERS
All this is the best Of evidence of the entire conn
dercs Of the builders and operators in the future
rea,tv market The only danger is that the bulId-
ing of aobouses and private dwellings VIII be over
done as il has been in the case OF the many ne"
Office buildings There is far less DANGER % 'i',
though especially in the former classes OF pui,u
inrs II owners will profit by the experience OF the
past New-Yorkors have seen enough oil lie III
onartmen. and fiat houses in the las. few years 10
know Jus: what constitutes a thoroughly modern
apartment and coming to demand apartments
of this character lust as business men are demand
ing all the latest equipments in their business Or
fees n good rentals are 10 be maintained
Strangely enough though. investors III many odses
e,u cling 70 the penny wise and pound foolish
roIcv ~ erecting apartment and fiat houses VINCE
cover every foot Of the ground OF theiT Respective
plots that the law allows. thus making inc IN
teriors hardly less cheerful and homeike thaH
nrison cells OF course. economy Of space In the
h,idinc OF houses of this class is an a-inportaht
r,po but the planning Of the modern apartment
house has come to be so much Of science no" 'ha'
an expert architect can secure suHicieh' nan ioo"'
arrange stairways and elevators IN the most APP
moved and convenient fashion, and az the same
time secure light and ventilation, still leaving
ample floor space for all the room required IN the
living APARTMENTS Such results cannot be obtained
however by the methods of twenty-five years ago.
Of roaring huge and ultimately dngy pile OF luril-
ber brick and mortar
RENTS FOR PRIVATE DWELLINGS.
In private dwellings, the American basement with
one or two story buffers pantry extension APP
pears TO be the most profitable class OF houses lor
investment. Brokers are finding 1t extremely diili-
cult TO secure tenants for dwellings at rentals or
mr. 70 than 5000 as houses of the character or the
foregoing equipped with all the modern conven-
ierces can be secured by tenants in some OF the
best residence sections of the city within TINS ng-
ure with fairly good profits for their owners ana
people requiring more expensive homes more ol'en
own their houses.
The proposed deal Of the Metropolitan Life In
surance Company and the NewYork Realty Com
pany involving property valued at S~oc"' IN
which the former gives sixteen parcels IN this Guy
and Brooklyn In exchange for the Syndicate Build
ing at the southwest corner Of Nassau ana LID
erty sts still hangs fire There is excellent pros
meet however of its being closed this week. IT was
learned last week that the unexpected delay in
signing the papers is due 10 certain details OF the
proposed transaction which are exceedingly com
pcated, and not yet adjusted TO the satlsfac-
ton Of the principals. The principal hitch. II Is
understood, is in connection with the hve-years
lease which, according to the terms Of the con-
tract the New-Yo-k Realty Company Flake IL
DowlinQ) ard Albert Flake and Robert f.. Downing
individually must sign for the Syndicate Building
upon the insurance company taking tit'e 10 the
same at the same time securing TO the insurance
company by guarantees an annual rental OF more
than 100000 and agreeing pay the taxes and all
other expenses In connection with running the build
ing.
LIMITING THE HEIGHT OF BUILDINGS.
Senator Page has introduced in tie Legislature at
Albany the two following bills restricting the height
Of buildings:
Introductory No. 47o-Limng the height a
buildings as follows: Dwelling houses rot hreprooi
TO- seve d I 1ee, 10 on sgbT feet on streets over seventy
feet wide; hreproof mercantile buildings 10 2v feet
and ir@proof dwellings 10 IS, feet Further proEh-
ing that all buildings hereafter erected over l2 feet
in height shall have attached thereto at least one
nine 10 which the hose of the Fire Department can
be attached. with branches to windows ana ROOF
above sixty feet from the sidewalk buildings over
1885 feet IN height be also supplied with an auxil-
larry water service 80. . ,
Introductory No. 5lS-A second bill limiting the
height of dwellings, in this way: The height and
extent of every other building and part OF build,
ing hereafter erected in the city of New York shall
be restricted ard limited that every part of sucn
building including attics. cornces. mansards or any
other projection TO said building except as herein
otter provided. shall be within and below any line
drawn from the opposite side of any street abuttins
or ad iacent thereto. commencing at point on the
line of such street that side of the street
furthest from such building at height of thirty
feet above the curb level. and thence inclinne
toward and over the site Of such building, with
slope rising feet for every one foot OF distance
from said curb line.
COME OF LAST WEEKS RIG SALES