The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-05
REAL ESTATE NEWS.


"a, a. numbers go, the list Of reported private
.,,.s impaired fnyoraby with that Of the proceed.
loo week The offerings in the auction room
.e,s made UP mainly OF parcels TO be sold In legal
,,ocecdlnps and as an evidence Of the lack ot
',,,,cs, ON the part Of outsiders the plaintiffs IN
,h.sc proceedings secured by far the greater mum.
Der VI properties
The private sales reported throughout the week
were undressing and unmportant In the main
xo transactions Of sufficient value 10 prove that
large investors were in the market were reported
X,yer,hclcss n number ot the sales Of apartment
pco,er,iea such as tenements and flats. bespoke
the presence Of the investor In q small way. The
dealing ~ private houses made UP the bulk OF the
busness while. In addition TO the sales OF fats
and tencments. there were several transactions
involving business buildings
vhn, the general dullness Of the market is
admitted il IL dicult 20 find the exact reason for
n There are numerous causes to which IL may
h. attributed, but. considering the substantial
o,di,ion " property at this time IL is reasonable
Ia h,licyc that the desire to become possessed Of
,.munct,,ivc realty ought 10 outweigh any tenn.
,o,,,v difficulties in the way Of obtaining IT,
The approach OF election day s not sufficient in
s.,f 10 explain the inactive state Of the market.
b.,,uar the inactivity of the past week was dupli
Gated IN the markets during many previous weeks.
and this dulncss, could hardly be ascribcd TO the
,,au.pce Of election day. The excessive tax rate
and increase in valuations undoubtedly played
,h.i, mar, In bringing about present conditions.
and /, possible that there has been, on account Of
,h,s an increase in demand on the part Of owners
that prospective buyers are not yet ready TO meet
I.n,il these prospective buyers, whether they he
i,r,s,ors or spectators are ready TO meet the
establishment Of prices consequent upon the recent
NJ al " there promises To be
erylit,le activity in realty.
Tn, sccurrr state ot the renting market and
in many cases the lettering oi this market. hd !
enabled owners Of property to regard with less
anxiety the Increase In taxation and valuation
than they would had the renting season been less
successful As result II these two causes own
.,, have placed \ higher price on their realty and
aimee the increased rent roll brings in substantial
returns on the invested money they can well
afford To wait until intending buyers are willing
l., offer them practically their own prices for their
property.
I, ia to this nonchalant attitude on the part Of
owners Of realty that tho present and the past in
activity in the market IL largely due This Is
espe.ally true as regards the more important
investment properties ot the city-largc apart
men, houses and mercantile buildings The
inactivity will last Just as long as the ideas OF
owners and buyers are widely at variance as
they have been and ~ -bme extent are now. There
has been evidence In the dealing OF the past week
that the owners VI Hat and tenement properties
and the prospective buyers Of that class Of realty
are practically agreed as 10 values. The same
thing Is true in regard 90 private houses and there
IL every reason 10 believe that this unanl nifty
will spread To the owners and buyers Of valuable
investment property. resulting In vigorous
winter market
Among the sales Of private houses reported
were those Of the fye-story American basement
dwelling, No. 9e5 Fifth avenue, between Seventy.
third and Seventy-iourth streets; the similar
dwelling. No. Eas, SiIty.frst street: No. ~
Wes, Forty eighth street, No. 223 West Seven
usth street and No. IS West Eighteenth street.
The business building sales included No
i5 Pearl street, and the old buildings which
will be replscrd With business buildings. Nos.
li2 and ia West Twenty second street. bought
by Adams & Co. and a plot on the north side
81 Twenty fourth street, 100 feet west OF Sixth
avenue bought by X. j. Horner & Co. Tho sale
Ok NoS zs5 TO 2SI Grand street, reported below.
pjssrsses peculiar interest since the site Is to be
Improved with a modern seven story elevator.
apartment house. The success this innova
uon will meet with is doubtful but il will proyid,
interesting material for the building trade TO pom
der over.
The auction market during the present weeI
promises to be even less active than last. The lis
Of offerings is short and the period for selling
will be shortened by the closing Of the salesroon
Tuesday, election day.
The following are the comparative tables. 70
Manhattan and the Bronx. of the conveyance
mortgages and projected buildings for the cor
responding week Of 1899 and 1898 as comprt
BY the Record and Guide
tOSyPNASrrS