The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-06-18
REAL BsrhrE NEWS.

In view Of the advanced season and IN.
weather conditions during the past week the
business done In realty must be considered
satisfactory. Tho range Of the transactions
has been wldo. embracing nearly all classes Of
property and all districts OF the city. Even in
the sections OF the CITY where business IL dulest
during tho summer months the past week has
brought out sales In fact, the most important
item Of news Of the week concerned Broadway
property. In . section which has been very
little beard from OF late. Tho other sales
which have meritcd any comment during the
week have been OF property. both improved
and unimproved. on either side Of Central
Park. on the avenues along the Park and the
streets intersectinG.
Central Park West has again furnished the
principal sale OF unimproved property.
large plot comprising frontage Of 40 feet on
tho Park. eight lots in Sixty sixth street and
three In slxty-seventh street has been secured
by a company which intends to erect q riding
academy on the site. Central Park West IL
being rapidly built MP with fne apartm ont
hotels and II Ia probable that this riding soad-
envy 10 one OF tho few strictly business ventures
which will ind site for operations along the
west front OF the Park.
The past week has demonstrated moro
clearly than any Of it's predecessors the facs
tina. the market. so far as the private sales 20
w
the SUNNI or season. A glance at the names OF
the buyers and sellers Of property during the
week shows this plainly. It 10 not only
true in the case Of the sales at private
contract, but also In the auction sales. The
buyers OF the property on Cathedral Heights,
which was sold By order OF the Central
National Bank. were avowedly speculators.
Outside Of the riding academy purchase It
would be hazardous to say that any transaction
OF the week was otherwise than speculative.
This condition Of the market during tho sum-
mer 10 OF course the usual one and 10 not fol-
lowed BY any evil results. Its presence at this
time proves simply that the summer season 10
fully in control Of the trading.
There are elements Of humor IN the an
nouncements which follow every sale or pur-
chase by several Of the professional operators
In lower east side property. For year past no
announcement OF q sale or purchase has been
made without supplementary statement to
the effect that the property in question would
be at once improved by the erection Of model
tenements or fats. II these promises had been
carried to completion 1t 10 probable that By
this time tho east side would have been the
model section OF the CITY. As It 10. however. It
ia still proper neld for university settlement
In q number Of instances, nevertheless. de-
cded improvements have followed tho sales
and the results have proved the experiments
to be OF value financially.
The nactive feature Of the week was the
auction branch OF the market. The natural
inference. in Wow OF the failure OF the various
lot sales. would be that both tho professionals
and the public had their Ill OF this class Of
realty. Perhaps 1t is so. but 1t 10 also possible
that tho property offered was not the kind to
appeal 70 prospective buyers In the Morning.
side Heights sales a part OF the property
was withdrawn because tho prices did not
suit the owners, but many well-informed
brokers agreed that the prices for which the
parcels had been selling we're as good as could
be looked for in voluntary sale. The lots at
Lowerre and on Van Cortlandt Heights are
good realty. but the public did not want them.
the sales were called failures. The legal
sales held throughout the week were entirely
devoid Of interest. The plaintiffs secured the
offerings in q majority Of instances
The following are the com parative tables for
Manhattan and the Bronx Of the conveyances.
mortgages and projected buildings for the cor
responding weeks OF 1899 and 1893. as COM
piled by the Record and Guide: