New-York tribune., 1900-07-01

estate investments Money in considerable amounts
has been loaned gilt edged real estate security
as low 31a per cent. and the tendency of inter
est rates fall will probably continue. long
present conditions exist in Wall Street In
fact, with the city borrowing money at per cent,
1t would appear entirely Justihable to assume that
capital would readily seek investment in high
grade realty at Sie per cent TO the amount of 90
per cent of a fair and conservative valuation Of
the security At any rate. it is becoming we'll
nigh impossible to loan money first class
curity at former rates Of interest. Owners of i'm
proved property find little II any difficulty in
curing loans OF from 80 to 70 cent OF the valu-
alton OF their properties at from to AZ per cent,
while the loans at per cent and higheS ere con-
fined principally to impecunious builders of fiat
houses or to persons seeking loans as near as
possible to the full value of the property mort
gagged This condition of the money market comes
at a most opportune time. as 1t IS bound to offset
to a considerable degree the depressing effect OF
the large increases in assessments by the Tax De-
partment with the accompanying increase in the
tax rate and the high cost of building materials
Reference was made IN this column recently to
the INTENDED @ 3 II ahd Nddson ae m
similar attempt is being made to alter the char
acter OF Fifty secondst, on the north side; pc pc
cupied by a of stables filing in the entire
ave corner and the Berkshire apartment house,
on the corner of Madison-ave. On plot 90 feet
T2e6 e6 z E. s Ward i'foT foT b0G G Harley r Proctor
eXcayatng for hye i've story AmerGSn & o bs haHd
some house will stu remain stables, having
frontage Of $50 feet while the east side 25ifGo
stable will separate the house from the Berkshire
The remaining stables in Fitty-secy1?nd-sL y? are
lett IN the Eiftes between Firth and Madison ayes
tSe oTners show no disposition 70 dispose OF their
holdings, which in connection with me lmpaOge- prove
on the old Roman Catholic Orphan Asylum plot
92Pofiae % n are of 56 feet now UNDERGOING improve
ment was sold for $4,000. ,.-,
prosperity enjoyed BY the eitgS hotels Se vas was
brought to the attention OF the pCoHC dsSlr ltSL
" efE 6 by by anG Sa the PARK Ayenue has
been released. The addition TO the former hotel
st. ST. side now occupied by six story structure.
The property which is an Astor leasehoid was
by the New York Cab Company. The addition VIII
N bote racture Il was also reported
that Reed & Barnett had leased the Park Avenue
nearly 100000 f A. Reed, Of the new firm OF
essees has been the manager of the hotel Tor sew
Ell The auction branch of the market moderate
or the offerings last week were the result of fore
c1S1Te s.p n be majority Of Under jud
inent for about $4,000 the United States Mortsage
purchased the Ieasehold property Nos. 49 and
15 at the GqrtneSSr @ cSqher S9 @ ao9 BToa
for s25 oo T6e pot & has @ Of s25 s5
i've f. 1e Stories high and the ground rent $50 900
YEAR on a lease that expires in 1914 The buildings /
Weld az present about ST. Cpl year. giving tne /
sase The atempt o Robar5 = HarRe
to d{sDOse OF Offering OF fftN-tWO chOce plotS /
in the Boulevard lafayette Fort Hamton-ave. and /
Kinrsbridge Road was Disappointing only two lots /
IN Kinrsbridge Read being Knocked down under /
the hammer. There was little bidding for the re- /
mainder Of the plots. and they were withdrawn
TITLE TO THE ATLANTA CHANGES HANDS /
Title was passed yesterday for the six story
apartment house known the Atlanta, the !
south side of Seventeth-st., eighty feet west OF I
Amsterdarn-nve which Henry Hellman sold 20
investor for Andrew J. Kerwin, jr. Mr.. Kerwin
takes in part payment the house. No. 72 West Thr-
ty-sixth-st. and No. Sc West Twenty-eighth-st-
THE RECORD OF SALES
William c. Dewey. OF Springfield Mass, has sold.
at about $500 COO Nos so and 81 Fourth-ave, a new
eight story hreproof building. plot 50xe2 50 feet
north OF Tenth-st It adions IN the the Feisch
man property. at the northeast corner OF Broadway
and Tenth-st. The southerly line OF the Dewey
property is the norther!y line of the Snug Harbor
property.
W. f. & c. Fl. Smith have sold for Marcus Nathan
plot 114xs5. the northeast corner Of German
Place On ed-an III for