The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-23
REAL ESTATE NEWS.

sume that the summer dulness has settled on
the market. The active season has been rather
| protrected this summer. and IL has been
only q question OF time whom II was to
be succeeded by quiet The question
was settled when the wealthy invest
ors began to leave the city for their
summer homes. and now the market Is prac-
tically In the hands OF the Spectator and the
| operator. A glance at the list OF sales at pri-
vats contracts closed during tho past week
| will prove that the speculative element Is
| largely in control. There we're several sales Of
which this 10 not true. as In the sale OF No %
William street. but in majority OF cases tho
| transactions were purely speculative.
Good proof that the market is in sound con-
dillon has been forthcoming during the week
1tlhas becn in the i'm portant lenses closed Only
| recently clothing concern secured a nftecn-
year lease OF William Waldorf Astor's plot on
the northeast corner Of Broadway and Tbir-
teenth street. conditional on tho erection OF a
new building on the site. The aggregate rem
tai is to be S1.0O0000. and following directly
| on the heels OF this transaction comes the
| report OF a 5000 900 lease OF another
Broadway property. This latter Is Charles A.
dould's building on the southeast corner OF
| Broadway and Houston street and involves OK
| tensive alterations in the present structure
| In addition. large lease Of floor space in
| prospective Fifth avenue building was closed.
| Taken all In all these transactions speak well
| for the market as It now Ia and oven better for
1t as IL will DO at the resumption OF activity in
| the fall.
| Among the interesting sales at private con-
| tract were those OF the two business properties
No. 23 william street and Nos. "a md 60 East
| Eleventh street. the vacant plots. 100x1OO, at
| Lenox avenue and 112th street. 100x15o at
Broadway and Ninety-seventh street, and five
lots on the south side OF 10th street. 175 feet
west OF Park avenue. Tho most important Of
these was the sale OF No. % William street
| The property is known as the Van Nos
trand building and adjoins the Lords
Court building on the south. The name OF
| the buyer has not been made public
| but II Is rumored that John T. Williams the
| owner Of Lords Court building. has secured it
| in order to assure his light and air. The build
ing is Owe stories high and was sold at auction
in 1893 for $4,000. 1t was owned by Sarah
| N. Marvin. The other mercantile building sold
| during the week was Nos "a and GO East
| Eleventh street. It is an eight-story building
and is said to have sold for nearly 100000.
| Nos III and 119 Mercer street were also re-
| ported sod but no absolute confirm alton was
possible
| In the Record and Guide there was published
yesterday a summary Of tho real estate and
building records for the first six months OF the
year and comparisons were made with the
|
conveyances ip Manhattan In 1909 number
6267 as against 1923 in 1893. while the re-
speetive considerations are SSS. 1874 $40 and
| $40. 423.415 In the Bronx the conveyances in
1899 number 1885 as against 5,S23 in 1924.
while the respective considerations are ST.
932.o5S and 81. 205.6S1.
The following table Of mortgages for the first
six months OF 1893 and 1892 shows the changes
which have taken place in the money market:
| H1HhoHnn
N N%6ass 1915
A ic. 1st th sSnt ts4Ss$Sos
includes corporation mortgages for sIsoooooo.
| 1t will be seen that the amount OF the mort
cages Including corporation mortgages re-
corded at less than per cent for the first six
months OF the current year is greater than the
total amount OF mortgages filed In the first six
months OF 1893 The lowering OF the rate OF
interest has had a direct effect on the realty
| market.
The building record ia particularly impress
sive. In Manhattan and the Bronx plans for
1922 buildings were filed during the first six
months OF the current year. az against 1.747 in
the same period OF 1898 The respective costs
were $87. .391 and S3S.2a3.35O. These
figures In regard to buildings are perhaps the
most interesting in the summary Proper
tionally the Bronx has made the largest gains
In building over last years records. although
the entire greater city has been almost abnor-
mally active in this direction. The plant that
the city Is being overbuilt, that there are more
houses than people. is not new one. but never
heretofore has 1t been so strongly supported
by actual figures.
This summary proves conclusivey that the
past six months have been exceptionally active
ones in the realty market. and at the same
time sets forth tho reasons for the activity.
The three branches OF real estate. building.
mortgaging and actual conveying OF property.
are 30 intimately interviewer that they are In
terdependent, and in the case OF prosperity for
the one there follows generally speaking. pros
perity for the market as whole.
In addition to the sale enumerated above
there was reported yesterday the sale OF the
entire block OF vacant property between Lenox
and Seventh avenues. 142d and 143d streets.
1t was i'm possible to confirm the report. but 1t
Is thought to be authentic.
The following are the comparative tables for
Manhattan and the Bronx OF the conveyances.
mortgages and projected buildings for the cor
responding weeks Of 1890 and 1893. as COM
piled by tho Record and Guide:
| CoNvEYANcEs
y.i w Ito JMS ls''o
4 4Sic' inseivsd n7srSss no7siS.
Total number OF convey.
anceb, jan. to date. p,Slb e.I&6
Total amount Of canvey. 80 80
AnceB. Jan. 1 to date. O2.6oS.3A SSo2oSooo
MORTGAGES.
Total number ............ $40 24A
Amount involved. ........ e+,a91.72l S27b6,bb2
| Mum Der over per cent lHS 10
Amount IN volved ........ tlbl7O37 tloo7oso
Mum Der at 8 per cent. l2U 10
Amount in volved .....,.. O.828.oS& N,2S%,4hh
No. at lesR than per cent. lOS q
Amount in volved. ........ S2,1Bo.S 800 S<o6. 900
No Of above to banks, -
trust and ms co.'s...... 81 20
Amount involved .....,.. u,eo3,72o tTlo,od2
Total number OF mort
cages, Jan. to date. h.olo e.59%
Total amount OF mort - - - . - -. -. .
cages. Jan. to date. SSo1 GAG. 1888 $lAASpo0el
PROJECTED BUILDINGS.