New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-26
REAL ESTATE.
THE CONDITION OF THE MARKET AS
SHOWN BY LAST WEEKS SALES.
MANY IMPORTANT TRANSACTIONS C0NCLCDED'
But NOT MADE PUBLC-OFFERINGs IN
TILL, Auction ROOMS.

But NOT MADE PUBLIc-oFFERINGs IN
THE AUCTION ROOMS.
Much more importance attaches to the realizes
tate transactions of the last week than appeared
on the surface to the casual observer OF the mar
ket and the daily reports Of sales pubilshed III
the newspapers fell far short OF giving an aue
ouate conception of the actual amount OF pusineHS
transacted. Judging conditions merely from ''c
nubl,shed records Of sales made at private con-
tract the market made credtable shoWine' put
were II not for the reticence Of many OF the bro
kers facts could be given which would swell the
record Of the weeks dealings TO such proportions
as TO leave no doubt in the mind OF any one that
more business is being done than Is reasonably 10
be expected at this of the year. The writer
| Of this article was positively assured by several
| leading downtown brokers last week that 'heS
had actually closed number Of important sales,
involving both actual cash transactions ana traces
| in which part cash was paid. which the brokers'
| referred to not at liberty TO give out ior
publication.
That strict secrecy Is maintained by the brokers
In the interests Of their clients implies nothing 10
tho d,scredlt OF any one and such policy is often
OF actual benefit to the market in bringing TO a
successful contamination further negotiations
whereas premature publication of sales actually
made has in numberless instances defeated the
best efforts Of the brokers in their endeavors 70
| put through other transactions bearing intimate
relations to sales already made.
AMONG the sales reported last week there were
none of unusual significance. The dealings were
mostly in fla houses and vacant lots in the uptown
district. bought for Improvement In some In
stances the sales Of the former class of properties
were at figures somewhat lower than might nave
been expected. This. however calls Tor no eN-
| n,oration and II would be almost impossible TO
| atternpt one unless II were known under eXacuy
what conditions the parcels in question were dis-
| posed of by their former owners. The OPINION 10
|
naoer a dav or two ago that this OF nseii
IL Indicative as far as II goes. that the hoiueis
| of properties are recedng from the exorDl'ant
nriccs they have hitherto demanded" seems de-
| c,dedlv premature The sale of few fathouses
at apparently low figures when the market is as
| firm and strong as it is to-day, Is certainly IN
! sufficient ground for prophecy. however guarded
that there is to be general break in prices
| An Interesting discussion the outlook IN the
| real-estate market by President Alfred r. Marhng
| Of the Real Estate Exchange was published In
last Saturdays Evening Post" 1t is in part as
| follows:
"Inasmuch as real estate IS dependent upon con-
ditlons of general business. 1t will share in the
| general improvement. But II will not evidence the
revival of good times as readily as other INES OF
business. In other words. there VIII be no Doom
in prces but we don't want boom. There Is no
| occa sion for IT, for during the periods OF most
! marked depression real-estate values have been
| sustained and while there have been foreclosures,
| that must be expected at all times
81, Is In property well located for business and
| residence purposes that the general Improvement
| will be noticeable. Especially on the line OF the
| main arteries OF trade will the effect be most
| marked Here again another false belief Is likely
70 arise in the opinion that sales VIII lmrneoiateiy
increase Money at present Is being poured INTO
| cha s,ock market and real-estate investment Is
,arbans the last TO attract the eye OF the holder
Of idle money; therefore an increase In the guam
| a., ard ouality of transactions is not to be the
| first evidence Of better real-estate market mat
| indication will be found In the determination Oh
nroperty-owners not TO sacrifice but TO hoid on 70
| ,hair nronerty all the more firmly When the bust
| ness horizon is bright. owners are dsinclined 10
! sell at other than fair valuation OF ther hoid-
ings u,u If course. be favorably affected by
,be nrosperous outlook. When business is good and
merchant is making money. rents DO not cut inucn
rv 5ip adherence Then they must be reduced, or
else result; in non-earn'ng ptopeer'I, pa n,tn puo.
times a fair income from rentals on good properly
SIN Conclusion. would have it understood that.
while argue distinctly against boom, sun an,
not in the least pessmistic pessimsm IS not eaed
ard il can be safely said tina; the real-estate out
look is bright"
THIS WEEKS AUCTION SALES.
Among the auction sales scheduled to take place
tbs week a. No. III Broadway. unless otherwise
/ specifcd are the following:
Tgsdqy SGy 90 An Wa east de 2s ise
/ sStth OF Thirtecntl-s 2flAx932. four-story brick
, tenement house, with four-story brick tenement
/ house rear.
Bv Bryan l.. Kennedy. foreclosure sale Francis
! u Iowrey referee. No. 5OS East Fourteenth st.
south side i2i fce' east Of Avenue sSxiOSS iye
s,ory brick tenement house at rear. Due on judg
n,ent sl5525. ~ cu~o.l
w Partridge, referee. No 322 East Thirty -sxth
81; south side 30 feet east of Secondary @jxs .
four story brick store ami tenement-house Due
, on Judgment. 81 30 - -,
,,nn sale Eugene a Philbn referee No 1871 Eas
north SIDE S75 feet ehs
a; year. r,. ,,,. i, e,o,,o.
,raTfor1 referee No l33 East Forty-ffth-st nortl
sG se ess o. Due os '. 20 az four
s'1r;y u phoenix Irgraham Co foreclosure sale
porte Z Ransom rfferee No 4 E9s! one-h li
OF Park-ave 25x99il five-story brick fahouse
Due on judgment, s5stbs, ~ -. ,..,o.,.o cola
william willis, rcf1T%e Rogers Place west side
Gisl0 feet north OF Mcsssnesier-9ve runs YVES e.,