The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-09
Rr1L ESTATE NEWS.

axad principle OF the real estate mar
,tot an Investment movement lie tho direct
r.,i, =, a succossfu! renting season. the di-
H'ssio,s Of such a moveme ntdepending always
m.r. deeree Of success attending tho renting
w. This principle is easily accounted for.
on,r,rnent house that is fully tenanted
a,,,,rts Investment capital more quickly than
9TH rooms vacant. and what Is true in tho
.assoin single building is equally true OF all
.ha ,mnrnyel property OF tho city,
s.copd important factor in the growth Of
=, Investment movement 10 the ease with which
Iaons on real property may be secured. When
,hsr, has been q period OF general prosperity
nd money in consequences is looking for in
,..tmenta real estate is particularly favored in
A.. nl,cing Of II on account o, the uniform sta
sillty o, such holdings
Th, present season is fortunate In
mating both the condition as to sue
.essful rentals and as to money for loan
an real property. The renting season
4, generally acknowledged to have besn
,bs most successful in several years. and this
I. ,rus In every kind OF improved property.
mil. there Ia a nearly inexhaustible supply OF
,opey 10 he secured at most advantageous
,,t.s q, interest. 1t follows naturally enough
,hat the real estate market should witness
d,ri,p the coming winter season very large
nnnbcr Of investment purchases involving
numerous kinds OF improved realty.
The first signs Of such investment buying
,sre discerribie in the dealing reported last
veek The purchases Of this character. were.
"a ,y,s 10 he expected. mainly OF Rnts and ten
,m.n,s. and IN ono case an apartment house
rhIs s,rle Of building has been the arst to feel
tra effects Of favorable renting season. and
IN show them in the returns on invested money.
That the first m oney for investing was attracted
AMI r'sced to a very satisfactory degree. as tho
lIsts Of reported sales will show.
Internationally essential In order to bring
about Investment buying that present condi-
,Iors in the renting OF all classes OF buildings
H., shown to he practically permanent. This is
,lsotrue as 10 tho question Of lonns on realty
A broker who Is connected with one OF the
prominent real estate firms OF tho city was
asEed II in his opinion the prevailing condt.
tons were permanent enough to warrant OK
tensve investment buying. and his answer
was an emphatic affirmative His reasons for
sDch a decided affirmation were substantially
these:
III there we're anything forced or I'M
natural in the present state OF improved pro-
rerty advice to buy would be advice to specu-
late But there isn't. The present condition
Of things is due wholly to natural and explain
able causes. and this condition bids fair to be
that OF q year honce. and perhaps two. three or
four years hence.
Yin the downtown districts, which abound
has had it. natural effect Tho office
thu nq p5St wSsr nshh gy have become paying in
vesments and know personally OF several
such buildings on our lists alone that are pay.
that business men Of the shrewdest kind are
Interested in corporations. which, at this very
@ are M, 4t snsb fSy ssFa sfs s pb9e
AZ for the mercantile buildings. the results Of
goo! times are particularly noticeable in them.
least complaint from the agents who have
The lower East Side is, Of course. given up
Immigration for several months, and partlou-
The Propefy IN some Of the lover p seen
ton. has been undergoing transition which
and replaced BY business buildings. The re:
suits OF this change are seen In the increased
the s Fes The fla. houses ar.
renting OF private dwellings has been excep-
vicinity Of Madison and Lexington avenues
east Of the Park
some time, This district has been neglected
BY SPECTATORS and investors. but the proper
good returns; and We find 1t is easter to collect
Ients there than In almost any other part OF
the city. 1t ought to be good field for invest
The fats and apartm ent houses Of the upper
West Side are perhaps better filled than those
second and Twelfth wards have been particu-
lariy favored in the development Of the city.
both wards are eT9Snstapty adding to their
immense amount Of building in each. the evil
dsnces are that the supply has nearly caught up
OF Central Park are high and the tenants are
prompt in their payments. so that apartments
are are good investments in that neighborhood
This IS especially true along Central Park
West. where numerous large apartment houses
In Harlem. as a whole. the fiat houses are
they were one year ago. hut there are more
tenants The APARTMENT houses have few va
tano suites and the business buildings are all
~ this. taken In, connection with tho fact
ahnI me supply OF housing will he consider
ne structural material market. would Indicate
.nat tne market Is In proper shape for An In
vestment movement. so far as tic question OF
adeluate returns from the property bought is
sbba at scae There can be little question on
As to tho possibility OF security good loans
On real estate there is equally as little cues
no9. The prosperity all over the country has
thousands OF business men in this CITY have
money wing idle that they would gladly place
ia MORTGAGES on desirable properties and at
low rates Of interest too. Brokers have any
number Of clients who wish to loan money.
WHO are in fact eager to do 80.
me TWO conditions necessary to create an
inves'ment movement are, to the best OF MI be-
lrre', now present in the real estate mark ct.
tnese arc the assurance that tho property
nought VIII yield good interest on the principal
Invested. and tho capital needed TO carry
.ntongh the purchases OF such property. The
tht aoi,g canaclty the improved property OF
COME great. It is better now than IL has
1sen IN years The capital to complete pur-
cnnsesis easily obtained and the rat 9 Of terest
IT. IT. income from the purchased property.
me prevailing conditions are practically per-