New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-06
REAL ESTATE.
AN IMPROVED INQUIRY FOR DOWN
TOWN PROPERTIES
SELLERS AND INVESTORS MORE IN ACCORD
SOME TRANSACTIONS OF THE WEEK Noi
YEr REPoRTED-PooR BUSINESS IN THE
AUCTION ROOMS WITH BETTER
PROSPECTS IN STORE.

AUCTION ROOMS. WITH BETTER
PROSPECTS IN STORE.
The Increased dealing in downtown property.
which has been the feature Of the real estate
market in the last week. indicates TO some extent
that the gulf between the estimates or the se"eiS
and those of investors is being lessened under the
influence Of proper reasoning. II Is still apparent
however. that prices are yet too high to encour-
age general and widespread trading and 10 insure
a busy market. After Christmas property -noioe's
may the error OF their ways.
The transactions Of the week were for all tna'
substantial enough to warrant the opinion thde
the market is the upward turn. The purchase
OF Nos. 733 and 735 Broadway. opposite Astor
Place. for $4,000 the sale Of the southeast corner
OF Fifth-ave. and Tenthst. for 100000 and that
OF No IS West Thirty ourth-st for the excellent
price Of 100000 are items which show that pur-
chasers who will pay good prices for desirable par
cells are In the field. and that the general tone OF
the market Is at least good as II usually has
been at this season Of the year Two other large
transactions also known to have been closed
recently will be reported. for various rea-
sons before the middle Of this month. One OF
these involves the sale Of piece OF property for
$500 CO., and the other a parcel for about $3OO.uo
Both are cash transactions and will add testimony
to tho good tone OF the market when they come
to light.
On the other hand. the auction-room business In
the last few days has discounted to some extent
the good showing In the private sales department.
handsome dwelling in Frfty-sixth-st.. near
Fifth-ave., offered at voluntary sale on Tuesday.
In spite OF strong advice not to subject II to the
test Of public auction at this time. was bid In for
nearly 5000 less than had been offered for II and
declined a few months ago. There were also the
usual sacrifices under foreclosure For next week
however. the prospect IL better. Recent auctions
have shown that there Is a strong demand FOR lots
when offered in large quantities, and with pros
pect that purchasers can secure them at lair
prices. Among many promising offerings next week
there Is one OF this kind. scheduled by Peter +:
Meyer * Co., the success OF which seems assured
in advance. This Is the Bathgate estate property,
about which there has recently been many IN.
Quiries. Another valuable parcel or another KIND
to be offered IS the plot between Cortlandt ana
Liberty sts with sx-stOry brick stone ana IRON
business structures upon It. This will go under the
hammer Wednesday.
Among the building operations for the coming
spring. II Is announced that the construction or a
six story store IN Sixth-ave. at Nineteenth ana
Twentieth sts by the drygoods firm OF simpson.
Crawford e Simpson. Will be the most important.
This structure is TO cost 100000 and Will be bullt
In sections not 20 interfere with the business
OF the firm which has been preparing for this step
for several years. Plans have already been pre-
pared and several builders have made preliminary
estimates on ther1 Besides this Undertaking. there
are schemes under consideration for new buildings
for the Hemingway estate at the northwest corner
OF Broadway and Reade-st.. and one for the Astor
estate on the southeast corner: for an insurance
building at william and Liberty SITS. and for
number OF commercial structures along the line OF
improved Flm-st