The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-06-11
REAL ESTATE NEWS.

RIAL HbIAJH WE'VE,
The past week must be considered surpris-
fnRly satisfactory in view OF the season and tho
weather conditions. Substantial trading at
this season OF the year has heretofore been un-
looked for. and the present well-sustained
business is by no means traditional in
realty history. The weather. which un-
doubleday has It's effect on the market
was anything but favorable, yet on tho
hottest day OF the week one OF tho most sue
cessful voluntary auction sales OF the season
was conducted Quietly and persistenty from
tho beginning OF the year influences have
been at work which have placed the realty
market on a substantial basis. The fine ac-
tivity which was so conspicuous during
the early months OF the year. and
which maintained it's intensity until
very recently. has left the market In
the best possible condition. 1t has readjusted
prices In the older sections OF the city and es-
tablished them In the recently developed dis
trcts. 1t has shown the dead wood - Of realty
and has pointed out the probable lines OF future
development. In doing all this it has attracted
TO the market the attention OF men with capital
and to cite one result OF this latter phase. 1t
has brought about the organization OF the most
ambitious syndicate ever incorporated to deal
In New York reulty.
1t ia perfectly natural. therefore. that there
should be evidences OF the present soldity Of
the market displaying them selves throughout
the summer 1t would be too much to expect
that steady volume OF business OF consdera-
bic proportions should be done through the
heat Of the summer months. hut there will be
constant outcroppings until the market settles
down In It's stride next fall
Foremost in importance in the weeks busi-
ness was Auctioneer Ryan's sale OF PA lots on
University Heights The sale for many res-
uaa mi az n the
There was an absence OF the professional ele-
ment, which was quite noticeable The names
OF many OF the buyers were new to the fire.
quenters.of the sale rooms, and the competition
for these reasons was greater than usual The
prices realized were uniformly good. and tho
absolute character OF the sale and its conse-
quent success are bound to have an influence
on subsequent voluntary sales. The PA lots
sold for $248.40O trile over ST 900 a lot.
In the brokerage branch OF the market there
were few sales OF Importance reported al
though the week was an active one so far as the
smaller transactions went. The most mpor-
tant sale reported was that OF the old building
on the southwest corner OF Fifth avenue and
Nineteenth street bought by the New York
Realty. Bond. Exchange and Trust Company
for about $230.0OO The leases OF the
present tenants have number OF years
70 run before expiration. and no i'm
The numerous small transactions were con-
cerned with various classes of property. includ-
ing small dwellings. fats and lots for improve
ment. The probable bulk Of the summers |
dealing will be along these same lines. with an
occasional trade OF more ambitious proper |
tions for speculation or investment.
Another feature OF the summers activity |
promises to lie in the numerous auction sdles |
OF unimproved property on the outskirts of the |
nitr A hor tbnso al
They offer rather exceptional opportunities to
the people who want homes in the suburbs or
to the speculative buyer. Among the sales |
OF this nature are two by Auctioneer |
Ryan. who will sell on Tuesday. June Is, |
ia lots and villa plots at Lowerre Sta |
ton. on the New York and Putnam Rail-
road. Lowerre is above the average suburb |
in desirabiity, rs 1t has a complete school sys-
TEN. comprising eleven buildings. churches,
asphalted streets sewers gas. water. and a
good postal system. On June ii Auctioneer
Ryan will sell ninety acres OF land lying Just
north Of Van Cortandt Park. This property is
also in the line OF development. and should |
provide opportunities to secure good bargains
Another big auction sale of some interest !
is that OF $50 lots at Amityve. L. l.
The sale is to be held Saturday. June |
"a, on the premises 1t should be an easy mat
ter to secure piece OF ground here for build
ing or speculative purposes. The property
overlooks Great South BAY. and is quite Access
sible to New York city These various auctions
OF suburban property offer many opportunities
to the conservative buyer to secure real estate
where values are apt to increase and repay
him for the investment.
The following are the comparative ables for
Manhattan and the Bronx OF the conveyances,
mortgages and projected buildings for the cor
responding weeks Of 1899 and 1888. as COM
piled by the Record and Guide:
CoEyEYANCEs.