New-York tribune., 1900-06-24
REAL ESTATE.
LOANS AT LOWER RATES-A BIG
CLOTHING STORE FOR THE
BOWERY.


considered seriously by real estate dealers. These
men say that the loans doubtless hedged
about with various provisions and conditions as
10 render them a practical level with less en-
cu-nbered per cent loans.
A. ". Mclaughlin & Co, Of No. 146 broadway,
when asked as 10 the possibility of securing money
at So per cent New-York City real estate.
replied follows:
From time time during the last few years
was available on mortgage security on New-York
City real estate. and while in few instances loans
at this have been made, they have been Of
such an exceptional character that they really had
having been made at this rate on purchase money
In;oTtgages TO induce the sale OF the property It
less than normal interest rates subject to peculiar
thereby creating false impression and Interfering
with the closing Of contracts, which have to be
held over until borrowers have been educated TO
the facts in the case Generally speaking. money
offered at this rate has usually been hedged about
with such conditions as TO preclude. in most in
stances. the consummaton of negotiations subject
ket both domestic and foreign any radical change
fTom previously existing conditions could scarcely
be expected.
Other brokers. however say that although no
immediate Improvement in the mortgage market
may be experienced nevertheless. the lowering
dency Of interest rates realty first
years ago is still operative in making higher tax
atons and increased cost Of construction easier to
bear
a large amount Of money is also said TO be pr
vatoy lent at rates below per cent when per
recorded mortgages.
make this possible. While they satisfy the borrow
they do not commit the lender
The movements Of the real market in the
last week characteristic of a summer season.
where several days Of almost absolute quiet are
followed by some sale OF unusual importance. Thus
Friday it announced that John Scott
Browning. Of the clothing firm Of Browning. King
& Co, had bought a large plot Of land in the upper
BoWery for the purpose of establishing there
large clothing store. The property was formerly
II siSfS If NOa
S76. 37S $50 3S2. 3si and 3S5 Bowery. Mr.. Brown
ing IS said to have paid $4,000 for the plot Old
buildings covering the ground, ii is said, will
be removed and a 7reproof building erected
for the exclusive use Of Browning. King & Co.
There are 1928 square feet in the parcel The new
building will have light on three sides.
The establishment OF store in this district Is
said 10 be OILY another step in the centralizing
OF this line Of trade in the district lying ABOUT
Cooper Union
Not so far uptown another East Side business
property figured in the transactions of the week,
one operator buying out the interest of others in
the combination which purchased the parcel at
auction time ago. The property Is located
al the southeast corner Centre and Leonard sts.
Another sale which caused considerable comment
In real estate circles was that of the OLD Harper
home at the northwest corner Of Fifth-aVe ana
TTe,ltv-seyenth-st.. which was bought by Charles
E johnson for about S56AOg0 The property con-
sists Of a plot in Fifth-ave. 294Xl0G and one in
Twen ty-seVenth-st. 25x56.6.
report has been circulated that large parcel
Of lard in I7ifth-ave between Fffty-second and
Fifty-ttird SITS had been sold for the building of
large hotel The report could not be confirmed
yesterday. IT also rumored that the property
known as the Opdyke house, No. 79 Fifth-aVe'
had been sold. Another Unconfrmec report was
that Peter Marie had gold Nos. Y and "a BroaoWe"
and Ncs. 9 and j New-st., small old build
ings on PLOT 45 6xll2 6x44 7x1l6.2. adjoining the
Union Truat Company's building the north and
George Crocker's Price-McCormick Building on the
south.
Among the transactions in which properties were
traded last week was that IN which No. 81 Fifth
ave. whicu has been traded three times, was
given IN exchange for the partly completed apart
ment house at the north corner Of Central PARK
West and Ninety-frst-st. which also has a record
as a trader" Other transactions included the
waumbeck story apartment house, at the
southwest corner Of West End-ave. and One-hun-
dred-ard-seventh-st Nos. ia and ZIG East Seven
fy-frst-st which parcel was sold 10 a builder for
Improvement and dwelling houses at the follow
sng locations: No 10 East Seventy-eighth-st., No.
sS West Fiftieth-st No. 800 West Eghtieth-st. No.
167 West Seventy-eighth-st, No. GA West One
hundred-and-f d-fourteenth-st, and No AZ West For
ty-hfta-st.
Since the burning of the Windsor Hotel the pub
lie has been Interested 20 kaow What kirG of
building will replace the former structure. II was
announced last week that Eitridge T. Gerry is to
erect there a three story and basement arcade
building The plot fronts 200l0 in Fifth-Gve., and
iSO in both Forty-sxth and Forty-seventh SITS,
The building win be hreproof. and will have a
f-Cnt Of granite and terra Gotta. with French
roof There will store. 436xS3.t0 at the Forty
sixth-st. and l3.6x562 in Forty seventh
81 The entrance 10 the building viii be in the
centre Of the Fifth-ave front. with stores on
either side. In the rear the ground floor will be
an open court with q coionnade. from which the
street stores may be entered. The second floor
VIII be for Offices and the third floor Will be ar
ranged for studios. There wiz be a newsstand
telegraph and telephone office on the ground floor.
An electric lighting and heating plant VIII be IN
OF the basement being used stOrerooms for the
ground floor stores. and a receiving room for all
merchandise. Charles l. Berg No. 10 West Twenty
third-st. is the architect. No contracts have been
let
THE RECORD OF SALES
F R. Wood has sold for Frederick w woodward
the Edin5oro apartment house, a six story build