The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-24

REAL ESTATE NEWS
The real estate market made a better show
ing during the week Just ended than during lite
predecessor both In the number and value OF
sales at private contract and in the business
done at auction. The private sales were OF
considerable Importance. there being
noticeable movement toward the buying, OF
private dwellings as Investments. The specu-
letivo element was also prose- mt in tho dealings
but In lesser degree than for several months
Those two facts In com bination mean great
zeal and although II is admittedly too early in
The season to argue that an investment move
ment 10 In force. It may be safely assumed that
the sales OF this character reported last week
are the probable forerunners OF such move
ment.
Thsre are many facts in real estate con-
ditions Just at present which tend to establish
an Investment movement during the coming
winter season. Tho most onsplcuous OF these,
and the one which would exert the greatest
influence. IL the ease with which high priced
apartments and private dwellings are rented
This condition is also true OF medium- priced
properties. 1t is an accepted fact that good
renting season mems a good Investment
market. and as the consensus Of opin ion among
brokers is that the present renting season IL
as good. at least. as an In years It is extremely
probable that II will be followed by an excep-
tionally good demand for investment proper
ties.
Everything that tends to cause a good rent
Ing season tends to cause q good investment
market The strngency In the building ma
terials market promises to hold down. II not TO
put an absolute end to. the overbuldinR which
seems to tc going on. and the strike OF tho
carpenters may tend In the same direction
These two conditions will lead to On eQualzing
OF the supply and demand In housing capacity.
and ultimately to better rents for the present
supply.
1t is likely that tho business OF the present
month and that OF the first half OF October will
be even lighter than last year. The Interrupt
tion which the Dewey celebration and the
yacht races are sure to cause in business will
postpone the actual opening OF selling opera
tlons until the latter part OF October and posi-
bly, until the first OF November: but II owners
OF property are at all reasonable In their de-
mands there promises to be a substantial sea-
son ahead for realty when business resumes
its course.
A feature OF the week was the temperance
OF Bronx property in the selling. Several
very noteworthy transactions were reported
and one OF these in particular deserves COM
ment. Plans were filed with tho Building De-
partment for forty eight buildings. flats. dwell
linRs and tenemonts. which are to DO built in
the section bounded by Cedar;place. Trinity
avenue. 158th street. and Cauldwell avenue.
1t is estimated that it will cost S2S4,000 to
erect these buildings. and 1t is probable that
tho undertaking the lost pretentous Of Its
kind ever projected in the Bronx. In addition
to this transaction. there were reported the
sales OF anumber OF large tracts and plots OF
land.
The auction room was the scene Of consid er
able activity. The sales which were numer-
Gus. were for the most part the result Of fore
closure proceedings There were several sales
in partition and at public auction. but tho lat
ter were not very we'll received Although the
plaintiffs were tho buyers in most cases. there
was more competition than has marked the
sales in some time, and outsiders were fairly
well represented in the buying. There are
fewer offerings scheduled for the present
week but some activity is promised at least.
Auctioneer Smyth advertises a sale OF Yonkers
property. seventy-two parcels. for Monday.
which affords exceptional opportunities for
conservative buyers.
The following are the com parntve tables.
or Manhattan and the Bronx. of the convey
ances. mortgages and projected buildings for
the corresponding weeks OF 1899 and 1893. rs
complied by the Record and Guide: