New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-06
REAL ESTATE.
rus IMPROVING AND UPTOWN
'''' SALES NUMEROUS.
.,,,n ACTIVITY IN RIVERSIDE DRIVE PROPERTY
,,,-r,z.AypL cHANaEs-oroRoE r READ
o.va THAT THE MARKET HAS
PREACHED THE TURNING
POINT.

,.. roo, estate market In tho last week has
remarkable change. 1t Is tho universal
,-,,v among brokers that renting is better
- ., has been for a year and that high prices
~, stand in the way of a real estate boom IN
w. 80. sslee Even with that qualification. how
sr.r business last week was better than 1t has
been this wear
-. of the weeks dealings. and the mos. en-
,-.einr factor in Il is that several large sales
,oc,iosIly closed have not yet been announced al
...,.n they are likely TO be IN the next rev days.
49, IN interest among the weeks transactions
-. the three sales Of FiNh-ave. lots. There arc
- ., these now lef, vacant and the Central Park
s.c..on Of. that avenue will soon be lined from END
~ I'D with fine buildings without break.
A an indication of tho confidence felt by brokers
40, ,he market has reached the turning point and
A. ,s,idly improving. the views of George X. Read
ara exceedingly interesting. We have certainly
.-r.d the corner Of the declining market" said
NJ Read in interview yesterday. and are IN
~, Of a better condition Of things than We have
"a q, This market for some time past. Strictly
soaking there has been no appreciaole decline IN
30, .s,ate values Valves have been maintained
q, this field Of investments In manner that chal-
i.,ses comparison with any other class OF invest
r,.nt properties the world over. and now the real
Eat, market offers excellent opportunities for the
,,yestor Real estate is in the condition that stocks
.,s bonds were in last summer. before the great
ADVANCE II has long been inactive and there mas
,.s, some l!quidation Now the hard times are pass
ting business in nearly every direction is improving.
,s with the growth and extension OF the improve
man: rents will improve. Values are firm and the
noxt change in the market must be for the Better
y is extremely unlikely that business property will
eyer pay less than II is paying now. and AT even
,bs present lowest point in the long-contnued de-
n-ession It can be bought at prices which VIII
insure from TO per cent net income on the
.ouities II will pay much better. for the norman
,a,A Of interest on mortgages has come down from
ner cent TO per cent. For three or four years the
l.,a.- had the better income from the property.
now the owner gets as much as or more than the
ender on bond and mortgage. The prospect for the
f,,ur. is good and firmly believe that people who
ar. careful about their investments. buying in the
present condition Of the market. VIII never nave
r,ason 10 regret their action
LATEST DEALS IN THE MARKET.
The Church Of the Holy Communion has bought
tr,o William H. Spear. executor. through II. H.
c.nusrn 4 Co Nos a and 43 west Twentieth
., two rour-story brick dwelling-houses. on a plot
Ss,ss adjoining its previous holdings These pur-
chases give the church total frontage on the
street OF 80 feet
Mrs Isdor Kaufman has sold TO Mr.. Hilton
No a. West Eighty-ninth-st.. a four STORY brown
stone dwelling house 2x60XlOoS on private terms.
Robert Ludlow Fowler has sold No. 500 West
Roadway old buildings. on lot 25xloo for IT,
Morris Rose has sold 70 We'll G. Mayer No. FAC
Third-ave.. a four-story building, on lot 25xloO.
Paul II. Kellar has sold No. IL walker-st.
seven-story building. on lot %xso.
Louis s Hensheimer has bought the old btnloing
No s. Franklin-st. 3x5o for Improvement, and
Will erect an eight-story. freproof Office building
after plans by De Lemos g. Cordes Of No. 81 Full
tou-st. o,, O. w.,
erschiag four lots on the north side OF Eighty
second-st 20 feet west Of Amsterdam-ave. The
Edgar Amor has sold No 1926 Iexington-ave..
oGr-stoIy fathouse. @.X6oN4 which ne oought o n
NS 2s2 10 rs East One-hundred ,and. twelfth-st,
four two-story dwelling houses. each lS9X4oXIvo
handI Cd and-hfiieth-st a three-story dwelling
house, on LOT ssxl0o 49, ,.,,.,a-.s
and-tweneth-st.. three-story dwelling house lex
Catherine Steers has sold No l6 West One-hun-
dred- twenty nnth-st five-story hathouse' on
Nos & East one1hundred "a nd fourth-st and 70 and
= East onehundI ed-and- fifth-st, nve-story nat
houses No prices are given 80. -o
MS. Alfred Clarke who owns plot looxl5o at
Riverside Drive and Eighty -nnth,st has conmis
ing-house TO be erected on the site
IN THE AUCTION ROOMS.
There was a shrinking In the number OF offerings
az auction last week even OF those offered in fore
closure. The most important piece Of property sold
THESIS Concert Hall. in Fourteenth-st. by
Peter F. Meyer. but the it realized, SSol1s.
was thought considerably below its value. A fair
price was obtained by Philip A Smyth for the five
story two-famy fathouse No loS West One-huI-
house No 1853 East One-hundred- and-second st, sold
By order of the administrator of an estate
For next week there is one OF the best auction
schedules which have been seen for some time. and
tor several OF the parcels included there IS sure
b GomPssn T Tsaa WIN se h az Te
story brick building and extensions. No lH Water
81 between Burling slip and Fulton-st; the north
Fl of adi
No. lss Bowery. three-story attic brick buildtng
by order Of the executors OF the estate OF Sill
On tuesday Richard V. Harnett Will sell the
No ~ ws Stq between Maiden Lane and Pine,
st; on Wednesday. by order OF George II. Coqtts.
stone and Tiffany BRICK apartment house. with
store. Nxloo the northeast corner OF columbus.
ave and Seventy -fourth-st. and one-half interest
IL Nos les and i97 Franklin-st. n fve-story brick
building and in No. sss Wsshngton-st' ST. Marks
Next Thursday Mr.. Hornett VIII sell BY order Of
ss a6S fIstsSn sSvyH No is to 2 Chm
ION Place two fve-story and basement douD.o nato
East Ons-hundred-and-tenth-6t st, private dwellings,
STATISTICS OF THE WEEK
Forty-seven parcels Of realty were sold at private
contract last week in Manhattan, against sixty
nine IN the corresponding week last year. The
considerations reported in eight Of the cases made
a total OF 81. 80 The auction sales In Manhattan
FOR the week realized total sum or SS''zS%. As
eoapared with $685. GIT In the corresponding week OF
,N- and In Brooklyn the auction sales red!Zci
c3,1s az compared with SS5.23o in tho same week
last year. o. ,,or,
The.s tables compare the conveyances mort
cages and buildings projected last week ana ~
TIE corresponding week Of 1897 in the boroughs OF
Manhattan and Brooklyn:
CONVLJYANCTS
1913 1897.
Ian es 20 Jan % 10
FEB g. ino. Feb q. me
To,al for entire city. . 80, 10 70 "a 20, SOB
Amount involved. Ss%c-00..1 tss,
Number DofnlnaL .......-.......... -
Number .venty-third ans Tween
ty-ioGTth wards. emitting new go -
annexed district ACT 1900 $3.50 1vo 90, n,e
Amount involved NEUTRALITY-SUSPICIOUS.