New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-25
THE WEEK IN REALTY
MORTGAGE TAX BILLS DEATH ONE OF
THE FAVORABLE INFLUENCES.

Whatever hopefulness is to be found in the real
estate situation must deal with the future rather
than the present The last week has been In line
with those that preceded 1t. and little or nothing
has been brought forth in the trading that Is
apart from commonplace. Cause for some congrat-
ulation developed last week in the final killing of
the mortgage tax bill. 1t is too much TO expect
that from that fact alone the market Will
Immediately revert to satisfactory conditions OF
active investment trading. Some business. how
ever may reach point Of contamination that has
hitherto been held back on account of the uncer-
tainty engendered in the minds CT possible buyers
by the measure brought forward by Senator Stran-
anan The bill has been power for evil In the
real estate field brokers believe. and il is well
that IL has been finally disposed Of 1t is to be
hoped that the desire TO do something and 10 be
instrumental helping along legislation will not
be strong in any other legislation in the near
future as TO suggest another bill that will again
make for renewed uncertainty. The tax question
s. that cannot be approached too respectfully
or too carefully and in the opinion of real estate
men, II had best be left entirely alone unless the
ideal measure is forthcoming OF course. it will
be argued that without presentation of one meas
ure and another it may be impossible TO determine
the best Of bill But real estate interests have
suffered from too much experimenting, and for the
best interests of those who make a business o.
realty less talk and fewer experiments will be
decided advantage
The ceremonies attendant on the beginning of the
rspid transit tunnel were naturally of interest to
transit has long been of keen and direst interest
and they have been among the most insistent sup
porters Of the project Not only is beneht looked
for 10 realty interests in the upper ana outlying
sections of the city, but It is believed that Elm-st
will share in the best results of the venture In
Washington Heights. Kingsbridge and the large
that has hitherto been comparatlyeig, mac
cessible il is thought that good VIII prooaoIy re-
suit beyond even the most sansuine expectations Vi
When built this road will give the upper West
Side adequate transit facilities VIII MAKE ne tte
Borough of The Pronx reasonably accessible for
downtown business men, anG will beneht the SUD sup
tionai as terminal But this is not all, for be
fore the W s @ade in Furnishing rapid
transit for other boroughs and so with Yesterday
oughs together was really begun. -..,-
h5 roa asa bg the
Railway Company as having important bearing
That the upper West Side. Morningside Heights
and Washington Heights will certainly profit by
and by universal transfer system is generally
agreed The sections VIII benefit n that they VIII
to Increase the demand for real estate there
Outside Of the sale of private houses Of Ehich
Fiftieth-st (old Columbia College property. and
dnse me bes news e of @ Ree
Items of this included the purchase by an
house, at the northeast corner Of St Nicholasave
and one-hundred- -thirt eenth-st and the trade
house No 24s1 Broadway.
Several good leases reported during the
week, and ii is reported good authority that
Henry J. Sachs has leased for William H. Ebling:
il the apartment hotel at the northeast corner OF
Madison-ave. and Ninety-second-st. The lessee is
Charles Jaimes of the Brevoort who. it is said is
TO pay a total rental of $4,000 for the term Of
fifteen years Mr.. Sachs is also said 10 have leased
for Leo Wise TO a downtown firm the three top
lofts in the building now under construction the
northeast of Ffth-ave. and Sixteenth-st for
years Sc, 900 a year.
The following are the comparative, tables. of the
conveyances, mortgages and projected buildings for
the corresponding weeks Of 1900 and 1899. COM
piled by The Record and Guide: