New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-20
REAL ESTATE.
THE RAPID TRANSIT DEVELOPMENTS
THE IMPORTANT FACTOR OF
THE WEEK.
. GENERAL. BELIEF THAT THE ROAD WILL BE
gUILr-EFFEcr OF THE RIVER TUNNEL
BRIGHTER PROSPECTS, powNTowN-rHE
r1.r1-pr OF TIE EXCHANGES.


Minor considerations in the real estate marke,
a, tho nresen; timc completely oVershado"eo
%, "a. dovelopments to rapid transit ""ch the
las, few days brought forth. Nothing so Important
70 real estate interests as the decision Oh "ie ny
nella.e Division on the Underground plan Oh u'c
rand Transit Commission has occurred since inc
construction OF the elevated railroad system ana
I'LL .Ise than the probabilities OF the speedy con-
,,ruction OF the tunnel and It's effect upon Faiues
wc,e discussed among the brokers IN the c'os'"s
days OF the week. .,
II may be said once that. despite 'he sims
10 the decision the general opinion among lea.
estate men is that the long period OF uncertainty
a. N rapid transit is at an end. and that tho con-
.,ruc,ion OF the road within reasonable 'iino IN
assured II tho $4,000 600 bond Is intended ny INC
court merely cover the period OF cohsUu''
n. r.sl estate operators one and all believe mus
ho tho case II is pretty certain that there VIII oe
no difficulty In obtaining the guarantee anu co'
,-,c,,nq the road and the holders OF unimproVeu
nroperty uptown Joyous IN consequence
has been felt In the last few weeks thaI '''o 'o"
could no longer withhold Its consent 10 tue tu''i'o
n,an and this has been indirectly the incentive
which brought forth the heavy operations III Up
,ou,o sues and is really the secret or the hesec'
NJ downtown property in the market Inc noi VI"
arm section OF the city is the place "heie ~.
rs n be made In real estate trading IL Is iei anu
the miniature boom in lots In ina. Section !. Wv
rcsuIt Whether the future will bear OUT th The
ssnguine hopes is the importan, question; ,,eYer
rev developments In the tunnel plans; SfrectIv
The beneft from the underground roau, the T In
extension Of the city ana me he tepered TO some
extent by operations eastward. ana 'his 10 "Ne' "
the long run 70 IN out Of the nyo
nrivate sales Of last week make up toai or -,
s sanssctions arc the two Broadway sales ana
The purchase OF unimproved parcels III ,he 49,
hd MaTS ey os by tracts are
to be developed In the spring oad niices have con-
sSh 6eg relieved lIr The gloomy forbodnss Of the
many people who foresaw genera, don, make
a summer, and the condition OF the 1o"h'o"" maj
ket still leaves much to be de a.ncSboders Of the
Real Estate Exchange to place that property on me
has been an some sseh acton has
dicted since the Importance OF the exchanSe No III
Prnna9 aeG"T The special OF the new Beard
pecto[s appointed esa to ear oS Friday with f.
Samm NM as Chairman and the sale Of the pTSSpery
is not likely be long delayed Inc .aa or the
m may D RETURN Broadway under
the wing Of Richard crokeps new R Rrokers in the
FORMER case will probably buy the Information ou
reau and absorb the Old exchange and tbe Auc
oneers Association working In harm nor Se iee
interests OF the profession are nkeiy 10 NC "o O
for any change that may come
THE AUCTION MARKET.
La, r,sss,. auction sales are not sufficiently i'm
nortant either individually or In bulk. to call Tor
any extended comment. The market as wnoe was
poor one the plaintiffs and other persons IN inter-
est having little competition to meet to secure the
parcels offered Many adjournments and Withdraw
ais took place. , - ,h.r. q.
For this week the offerings are good. and there Is
A hone that business in this branch may improve
Among the parcels TO be placed unaer inc ha'i"e'
al No III Broadway are the following: ,,.,..
To-day-By Peter F. Meyer Co: oreciosuIs
4OO East Houston-st, running through TO NOS. ~
and 2N second-r begins East Houste en mex
leasehoid two three.story brick and frame tene.
ment.houss In Houston-s.. with store ID NO. ~