New-York tribune., 1900-04-15
THE WEEK IN REALTY
ENCOURAGING IMPROVEMENT IN PRI-
VATE SALES MARKET-COMPETITI
IN AUCTION ROOM.

A distinct and gratifying Improvement was dis
cernible III the market last week and enough bus-
closed to bring the volume up to satisfy
ing and encouraging proportions. A large num-
Der Of miscellaneous sales reported by brokers.
and there several items of more than ordinary
interest. One of the best features developed in
last weeks trading It's broad diversity. All
kinds of property figured in the budget sales, and
the brokers disposed not only of the usual run OF
dwelling houses and old tenement houses. but OF
number of houses. business properties and va
cant parcels in every part of the city. The business
Of the week not confined to any one section
and parcels both up and down town were In
cluded, and the East and West sides contributed
alike to the items of sales furnished by brokers'
There was also some indication of investment
buying. not enough perhaps to assure immedateiy
a large investment movement such as mas peeh
awaited for many months. but of sufficient proper
tions add variety and interest to market that
has been singuarly barren since the early weeks
of January The auction branch also contributed
toward the rather gratifying Improvement notice
able last week 1t has seldom happened lately
that such keen competition resulted between in
vestors the last week. when Nos. Coz
and 659 Broadway running through to Nos. 224
and 226 Mercer-str offered. The parcel was
started at 100000 and after quick and interesting
bidding, in which Nathaniel Whitman and William
Demuth the prominent competitors, 1t was
knocked down to the former for $Sl1OCO. The pur-
chaser bought on his own account and for invest
ment and 1t is said that the rival rival bidder h2d ID
the sale although it is not what the assessed valu-
aton-s275 cO-would warrant, still it is better than
353 $50 357 Broadway sold for 1900 less than
the assessed tax valuation, it will be remembered;
AS bearing upon the matter of assessments In
the district in question the rolioWing staaement ~
"'The Record and Guide" is worthy of considera-
ton
We have come to recognize that assessments in
stS; are unauy sn rs next c@rtainy
hoy, will pOt ba sections
the city have been advanced proportionately We
Wooster SITS north of Canai-st. The chief trouble
with the tax, however, is that it is based on the
Why, the ether day a man brought in COMPLAINT
Of overassessmsnt he & Was the owner OF Ive W
tween Chambers and Wall SITS. The building is
fce i' to pay o6e!6alf the tax The property
Pses lar! an inside c Pq s TG ent % G Of
pointed out that the assessment was eminently
placed upon the parcel, namely. SsOo00o, and sug-
gested that he was in a better position than own
desired By abqttng property holders and cannot
ne nProTea n h pI al ne
build, and wouldn't take the risk if had the way
get reasona5Ie offer for il In citv ike
outs there is always quantity of improved prop
erty which fails to pay. because of neglect. bad
character of the building and the nelghborhood or
b BH5 me tax ] incident 10
net net, income OF thousands of comparatively modern
Dulidngs, ana reduced that or other thousands to
a fraction of the normal interest rate Under the
present law the principal sufferers were the own
ers Of antquated properties, precisely those who in
the general interest should have been touched most
leniently, so not to compel them to build pre-
maturely. aggravating the oversupply of housing
With tax based on income this evil would not
have been present, and the of the real estate
market would have been much more buoyant thar
! it is to-day.
Among the sales of business properties in the
lower section of the city last week notable items
| concerned No. Front-st, Nos. s. and 10 Bridge
| St through to Pearl-st, and Nos. ) and Frank
| lin-st. ~
In residential properties the sale of four houses
IN East Seventythird-st. Joseph Pulitzer is con-
| splcuo9s, and an interesting announcement made
yesterday was to the effect that the last remain
ing parcel in Fifty -rst-st of the Roman CathoIic
! orphan Asylum block has been sold
The following the compare tive tables of the
| conVeyances, mortgages and projected buildings
| Tor the corresponding weeks of 1900 and 1899 as
| compiled by The Record and Guide: