The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-30
REAL ESTATE NEWS.

"
Tho constantly increasing number Of fore
closure suits IL attracting the attention OF
| those Interested In real estate. and various ex-
plantations Of this increase are given. The past
week saw great number OF these suits insti.
tuted. md two conditions Of the market seem
to predicate even larger number in the weeks
to come.
The defendants In many OF tho suits filed re-
Gently have been small builders and 1t would
seem that this class OF real estate operators Ia
the sufferer In most cases. The fact that 1t is
/ the small builder whose name appears ire
| quenty in this connection has caused many
real estate men to believe that the stringency
IN the structural material market Ia the eX-
! PLANTATION.
II this Ia true as seems entirely reasonable.
since conservative builders estimate that the
rise in the price OF Material has increased tho
cost OF construction by at least 20 per cent.
there 10 very little hope that the condition OF
/ the small builder will be bettered for months
to como. This ia true because there Ia no
! promise that conditions in the iron and steel
trades will be more favorable in six months
than they are at present
In fact. IL Ia extremely probable that the
| building trade will be much curtailed during
the spring months OF 1900 and tho Inevitable
consequences OF this curtair ent. unless ale
waited In some way. will be the failure OF many
OF the financially weak builders and serious
losses 10 'hose OF more extended resources
me 'otec'osnre suit statis'lcs LOT IN" coming
six or eight months will furnish ample evidence
OF 'ne fend OF things IN inc nuil",ns matk .e
second comparatively serious blow to tho
small buildors ia the nav building code which
received Mayor Van Wycks approval last week
1t is at present difficult to tell the exact effect
this code will have on the building trade. but
many builders believe that II will injure 1t.
In tho estimation OF q great number OF real
estate mon. this possible curtailment OF build
in general This conclusion is arrived at in
e''e .o',., wa. .nei' nus oee' klea' ue"' Vi
"'rIp"'Iu'nk' tn"t .ne suppy eAceeus ,n' "e
building would allow The two to become more
na,,Ir a,n,I T., ,hom,bt ,h,, hi. on,,l-
ization would lead t" higher rents necessarily
but rather To n nearly com rlete renting Of tho
mnny nr,rtments " now vacant " WV
In view Of the facts that there has been admit
tedly an era o, oyerbuildiug in housing of the
apartment character. and that tn" Board OF
Health census shows a marked decrease in
;.a,,,,Iaa 80. IT.. 49,, ...,n,..
includes persons iiVins IN mats ana apartment
houses as well as the inhabitants OF tene-
mspts proper. n temporary decline in this
class Of building ore rations should prove bene-
Thi. oonoIu.ion ia NOT a. hind;n, Il, Oh. o,.o
OF the boroushs of Tho Bronx and Brooklyn.
1t expected by the Board OF Health officers
the tenement population Of Manhattan will
show GSrldsd lncreHsr o. .. the same popula-
hs increase me result ot mLigration from
The old limits OF New York and tho patural adj
viii nerehsitate housing provision IN the two
boroughs favored. am S,nce the oTeThui!ding
to a large cNtsnt to tho builder who find, 10
market market on Aanha at, lstan1 It is Sonn,
IDENTIFY helievei ny the hsaIth Officers n charge
OF me s'atistlcs that ne increase VIII be lar
greater thHh mlght PC thought from
T bn .or" az much to ;bs
small builders ana tho realty owners OF the
two VS. n9 IoI ,r,,, ,ro,, .ho er,. ~, ~
rent numb.r OF the hm6icd" LdhG!nid gives
aconci,e statement OF the success OF me rent;
ing srason ~ New YORK ana other cities and
| inc dentaliy furnishes some reasons why there
should be = genera demand Tor investment
Tho rent market this ialI showsa DECIDED
high prices OF nearly all building materials.
this. year hns discouraged building IN most
sections OF the country ana the result Is bene-
and lacked tenants. Qd APARTMENT buildings
ana nwe.iinss nave oeen aiLlihG up. owing
In New York the rentins market IN bust
ness offices is n eXceI!en; shape People from
othsr elties VINO visited Sew 1orS snI VINO
witheSs'n tne erecton, OF one 'all OulluIhg
after another doubted i tenants Tor al could
, De see"rr,i but HraHuany me space has Len
taken uhtl! nov "hy hmali percentage
arc vacant IN .nulhperr' CONCESSIONS
were maze at me 'ime OF mo sIring
renting. bur, prices are more stable
th's 'lIl. Inc FORMATION hurlng the
ompn" JuSt l, ., IN many
GommnN!tINs was hslpIuI 'p utr nIlcc market
,i to ~ r,r. ~ wbHcn
succeeded 10 their nnsnehSahl opened general
eaG!uH, 80 ~ ,,e" N ~ snNr New
sin rents '' al ~ 'e'"''