New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-04
THE WEEK IN REALTY.
MOVEMENT AT HAND-hA-
pANsIoN IN ALL LINES-AN
TRAcTIvE AUCTION LIST


distinctly peroeptible movement, -. e'.ary one IN
=. huyInc made last week sats-... .1.,r
I'VE field OF resl estate. Mercanue ,prae extent
s.-ss GA the budget 10 a sufficiently i -
ffaiea az ~ - a more satisfactory conoi-
- .n6 the ssles of vacant plots Tor 'i'it -.
.ora of . character TO suggest presel,oe os.eta
tame Than has been obseryable ~ a., connection
business for several months Wv" ,ob the same
with the two preceding weeks - Ice, week NAV
kino OF ousihs N"S +,re that the near future
= ,,,,os.,oenf movement oeFeiopee
n,ch brokers have long been "ailihe - 10 nron
BUSINESS was not confined TO any o.e =. housa.
ertv There were many purchases % 20 deoIs an
.o- occupancy and the ususi na,,ses were nut
a,,ns old fat and tenement o,so cur
Noi'4Ns ~ r-oters But there was aiso suo
'hiO.s - xotIsfaetory business zone III ne" not
sanss narticularly houses with $3.50
,,s,rsss nropertIes both improved anu t -.
II IN a letter 10 .'The Record ana Nuioe -. -
-+ns.e,Sav Edward H Gilbert comments III part as
ssT =, ,bs reason for the Improvement "hlch
e. Moaning manifest IN the real estate Market
,~s ,rvestor IN real estate disappeared from view
honf he middle of 1897, and with re" rssn
exceptions he ons haTe been offered to account
Sor Us continued absence Inc IN ,Ionic ~
l gI mas been continuing one since the pane OF
r W as fsiinre of income gradual but persistent
until rent longer represented @ ~ fact the
investor did not wholly disappear put t nus
position. He proceeded 10 put nIs Sc secured
~ real property and the bond of its owner. ne
would loan up 70 % per oef the 81 security was
impaired but he preferred to leave me df The fee
wsTs z1ng on bst th failing rents meant falling values
and that there was nothing TO oe his wav thai
its is value fell on from to ~ and per cent and
the prospects are that per eean si boom now az
its height shall have somewhat suosioeo ana re-
ieaseo more rts examine to show clearly
investors point q " VIEW t " o@ Two age
ESQ ,o- tsst amount at per cent interest per
annun would yield him yearly $3.50 in cash, with
out s%.er bsng collected An investment OF the
same amount IN ordinary double hathouse; with
steam heat and the usual improvements, held
free ' and clear would show net income of about
With margin Of only $40 for the risks and care
Of ownership In fee the investor preferred the
mortgage loan. But a change OF conditions has OBJ
me chief among which has been the renewed pros
perity OF increased population. More tenants
nov better able TO pay higher rents and mortgage
,rterest has fallen one-half TO per Rents in
crease before sale prices; and applying these new
conditions 70 the example cited we md that the
loan OF $1,000 the same security will only yield
st the utmost ~ per cent 81 125. while the same
house can be bought for $4,000, and yield gross
income ef s, So or s. more per apartment with
increase in expense OF ru mn Leaving net re-
rnent Of 5000 less, with every prospect that with
renewed speculative activity the property will
The long period OF depression is over. The low
Is been reached. builders
nov offer opportunities which will not be possible
again for years. Houses Of the latest designs,
built during period when construction cheap,
are in the market for sale at prices that two or
three years hence viii seem absurdly low. The
his position once more and become the owner of
the whole security The advantage from now on
will be with the buyer.
SOME IMPORTANT TRANSACTIONS.
Among the transactions reported last week that
NAV be taken fairly TO represent the presence of
my raenf MIR ding he tn
JuilaTd by Henry Corn of the twelve story
loft end store building Nos 632 and ga Broadway,
nesr Fseccler-st. with frontage in Crosby-st, the
buyer eying in exchange about six and half lots
in EeA-eenth end Nineteenth SITS. adjoining the
sieEe-Cocper building. in sixth-ave. These lots
VII he improved with twelve story loft and store
bU'ldi-g. Another interesting deal involved the
property Nos. and East Twenty-third-st, the
II story iron front building adjoining the Hotel
together with the four story building
NJ East Twenty-second-st., which buildings con-
tan The American Art Galleries. John F. Loubet
Is the buyer Of the property. and the price is re-
ported 70 be at least $4,000
sale that was both unexpected and interesting
that Of the Victoria Hotel annex, at the north
east corner Of Broadway and Twenty sixth-st.
A Brooklyn investor secured the new eight story
mercantile building No. 80 East Nneteenth-st.
and another trade involved No. rs white-st.
Sales OF unimproved parcels included the Arnold
estate lots adjoining on the the Arnold
house. the north corner of Fifth-ave. and Eigh-
ty-thrd-st.. which sold to William Solomon
early in January; the southeast corner Of Broad
way and Ninety-second-st. and the similar corner
Of Morningside-ave. and Observation-Disclosures
teenth-st
Hamilton NJ Weeds purchase OF the big plot on
the northeast corner OF Broadway. Amsterdam
and Seventy irst-st. Sherman Square, is pre-
urinary 70 the construction Of another ornamental
structure in that neighborhood of fine buildings.
builder
James & Leo will be the architects of the new
stories with facade of limestone, brick and terra
Gotta There Will be four suites Of apartments on
each floor, Of five. seven, eight and ten rooms.
respectively. each with independent foyer hall
and conservatory The plan shows a structure
around three sides Of spacious open court facing
the street with a circular driveway. With window
openings on all sides The house will have all the
bile stable in the basement and batteries and other
hP2arates Tor recharging the motors. Construction
sot the dwelling houses sold were No. % East
ana One-hundred-and-sxfh-st No il West FIT
ssesn-sss. the northwest corner Of Park-ave. and
No $50 West Northumberland seVenth-st The
ssie OF the plot Nos. Is and 2 East Thirty fourth
site and the substitution of a handsome improve
nent The disposition is unknown of the two lots
OF IN Madson-avee, which were also Sold
Ing fbs Wn branch promises to be interest
70 ne executors sale the investment properties
Nos @ s5 and 81 Broadway and iS narceIs s
TwL s.i Church. Walker Prince Crosby and
Mmsst houston-st, the Bowery and Sixth-ave on
zee same day Nos 604. sos and eos Broadway south
eurhs liner - OF Houston-st will be auctoned which
49, 20 make Tuesday a menora Bile day I'm the
Boy "Ss salesroon. And IN addition IT lots in
eo,Srth ISaongh VIII be sold in the rotunda Of the
THE RECORD OF SALES.
the fer A sars has sold Mrs Henrietta Roster
e., 10 Meyer Solomon WV i-ase EieVehlh-st zo3
RsVcbSf.s-: Sehaett Co. have sold for Emily
b-a!ss, 20 Michael Stanley the tbTas etnry
dwelling house. gx55x1o22 No 20 West
samoel Lewis has sold the are s.a.. 49, -.