The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-08-27
REAL ESTATE NEWS.

far ha the volume OF business 10 concerned the
week was perhaps the most inactive OF the
season. There we're few encouraging siRns in
the buslpess at private contract OF an early re-
viyal OF activity. but brokers generally are con-
adent that the dull season Is nearly at an end
This confidence is based upon tho numerous
inouirles for investmen property and the con-
titlons prevalent 10 all branches OF CONNER
cisl and Industrial lines. rather than on any
present evidence In the real estate market it.
self.
That the state Of trade and financial condi-
tions generally have their effect upon the realty
and building markets Is convincingly proved
at this time by the state Of affairs In the iron and
steel markets. The great demand. foreign and
domestic for these products. has resulted In
shortage so pronounced that structural ma
terial has advanced at least So a ton. with
every promise OF still higher quotations.
Masons material has gone UP 10 per cent.
wood rs per cent. steel above 65 per cont.
and other building necessities nearly in pro-
portion.
The result OF all this. so far as tho real estate
market In its broadcast sense is concerned will
be seen In a probable curtaillng OF the building
activity. lately so pronounced. And the cur
failing OF the building activity will result in
fewer sales OF flats and lots for Immediate i'm
provement" Thisis 50 because 1t Is impossible
TO secure the requisite amount OF material for
Immediate building operations without paying
large bonuses. and the most active factor in the
building ranks. the speculative builder. is not
the kind OF person to pay bonuses for any reason
whatever. The profits are too small even under
the most favorable conditions to allow ii. The
more substantial builders. whose capital 10
greater and who have provided against this
increase In cost. will hardly feel tho effects OF
It, They will bridge over the time until the
market is easy again.
There is one encouraging feature In the
situation Some time ago 1t was thought that
the increased housing capacity OF the city. ow-
ing 10 the extraordinary boom in building. and
easy financial conditions. would compel n re-
ducton in the renting schedules Then the in
crease in the tax rate so far dspelled this feel
ing that it was believed quite generally
that Fonts would have to be put up to real
lie a fair profit on invested money. 1t is now
probable that the strngency in construction
materials will tend to equaiize things so far
that rentals will remain on their present basis.
Tho only exception to this possible
equalization will be found in the rent
ing OF offices In the big downtown Of
nee buildings. The agents OF these buildings
point to the fact that building operations
Of such magnitude are only undertaken by
those who are able to carry them through in
spite OF 1hcy hoy dlSO tHdJ
on account OF the numerous skyscrapers re-
Gently com pleted and now in course OF con-
struction more ofhce room than is now de-
mandsd will be provided and q reduction In
rates may follow.
On the whole 1t 10 not probable that the con-
striction will be more than temporary. and the
many inquiries for investment parcels promise
a good fall market for realty with plenty OF the
best kind OF activity.
The most i'm portant transaction In last weeks
list OF sales was that In which Altman X Co.
secured several pieces OF West Nineteenth
street property. 1t Is said that no immediate
Improvement will follow the purchase. Every
sale OF property to one OF the big firms in this
neigh borhood tends to make it, m ore and more.
the selected and foremost retail dry-goods dis
trict, and several such transactions have been
contaminated this year.
hin the auction rooms the week WAS enlivened
by the temperance OF outsiders In the buying.
For some time the plaintiffs and interested
parties have had monopoly OF foreclosure
parcels and break in the monotony was well
come There are many chances for the in
weston to pick up good bargains In the sales
rooms during the dull season. and the wonder
Is that no advantage is taken Of this fact. The
list OF offerings for the present week Is small
and very little interest centres in It..
Among the plans filed for new buildings YES
terday was one for 4 ten story apar ent house.
to cost 5000. 900 on the northwest corner Of
Central Park West and Ninety second street
The plot on which the building is to be erected
10 100sx116 The owner is Patrick Norton
and the architect George Keister.
The following are the comparative tables for
Manhattan and the Bronx OF the conveyances.
mortgages and projected buildings for the cor
responding weeks OF 1899 and 1898 as COM
piled BY the Record and Guide: