New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-16
THE WEEK IN REALTY.
MODERN APARTMENTS RENTING WELL
ON THE WEST SIDE.
BUSINESS PROPERTY FIGURES PROMINENT
LY IN THE SALES MARKET-sCARCrTY
OF HOUSES FOR RENT IN THE
FIFTH-AYE SECTION

Signs Of returning activity in the real estate
ket appeared last week though the few sales
ported were confined principally to the business
section and the West Side. The most encourag 1ng
sign was that the private sales embraced a wide
variety Of property. So far the renting branch
Of the market is concerned the West Side brokers
doing a thriving business. especially those
agents who have the management Of the many
apartment houses recently erected west OF the
Park
The building Of these high class apartment houses
the West Side this year, far the size Of
the structures Is concerned and their exceptionally
complete equipment, has surpassed any and all
previous Efforts or the builder No apartment houses
with one or notable exceptions, had been erected
west Of Central Park that for elegance Of appoint
ment and thoroughly modern improvements can
equal many Of those just completed in the district
named The result is that the new apartments are
renting rapidly. and many people who formerly
lived further downtown are to be found on the list
Of tenants 70 whom these apartments have already
been leased.
Hardly block can be found in the West Side
section between the Park and Riverside Drive,
siEty-thlrd-st and Harlem, where builders with
the necessary capital TO push their enterprises to
completion have not been rearing new structures
IN the last year. Those lining the Park are as
rule renting better than the apartments further
a degree q success in completing their lists OF
tenants that has surpassed the most sanRulne ex-
pectations Of the conservative owner; .,-
The success Of these new buildings is largely ac-
counted fo- by the fact that they are Of higher
grade than the average West SIDE apartment mousse
and consequently have attracted an entirely new
class OF tenants who require Just such accom-
mocauons as are oiIerea ana are "l I'M " Py
The price This Is extremely fortunate for the own
81 % % IL me- 60. s+cTt +,na which cannot
q me wen known I'VE stCiy tPe, y i!oIt IN, S1-aes
enter into competition with the palatal new houses
and therefore have lost Few tenants because Oh
the erection Of the more pretentious structures
IN fact the five story hathouses OF the west Slde
water supply are having more successful rent
Ing season than usual, according to the agents,
hfc NAY Ia Tr1a1 -pelE he
n the building Of the high grade apartment houses
eanoned |ae me xe story HaIh Gus dtio
70 their numbers, TO recruit tenants. The latter
class Of houses is paying so much bette than for
he last few years that they are beginning to be
regarded again with favor by the small! investor,
and rot few sales Of this character have been
one Of The most important sales Of the last week
was that OF a Of i've FIVE story unfinished
eouble fathouses on the south side Of One-hun-
i Fe-fth-st 10 west OF EiIthage; on a
year by David and Joseph Seglin, and were bought
lam TonIh under ;oTeelosute 10y Ira M
eTly 10 Ryan & MacFarran The latter il a firm
the market While. as has been said this class Of
property Is renting better than usual this season,
me West Side TO satisfy the demand for an
other year or TWO and the action or these Dulld,
es II buying the property for completion instead
q undertaking entirely new construction on the
same line BE- 10 he highly commended by owners
me sale Of first Importance last week partcu-
.aary as regards what will undoubtedly follow in
~ ne way Of some permanent Improvement vas that
= west Twenrieth-st-, and a vacant lot in the
rear al No. q West Nineteenth-st by Mrs. Brad
~ Martin The Twentieth-st property has
frontage Of Is feet No. q west Twentieth-st. was
12cghL by the seller in rs for $500, and No. 20
West Twentieth-st. and No. % West Nineteenth-st.
nsIo bought seven years later for S6IJO Inc
kGsaee paid by the new owner is said TO be about
$500 he asking price some time ago was over
S,'HN The name OF the purchaser has not been
stnsoe public but Bernard Klingensteln and Will
~, ,atH t-osezwelg and Martin & Bro. are all men
S SJ-sd as being the purchasers. The hrst TWO
Alneteenth-st-, and they are said have long
5henTy Conn owns No. % to IS West Nlneteenth-st-
@.4 by g feet and Goldsmith g. Plaut are the
Yr,,eIs o. parcel adjoining on the east having
-'1EhlaSe Of SIS feet.
IL. In the downtown mercantile section No. Il Full
- l-ssSS ana No II Beekman-st were purchased by
~ - 5sal Manufacturing Company. ,
a. ne tlfth-ave. brokers not faring well
lLey h2q hoped few weeks ago. Those who
sssyiehuy were predicting a lively market IN the
ito@lng Labor Day have gone wrong in their calcu
fo- rs again and have stopped making predictions
~ houses in the Fifth-ave. section reported sold
- private contract last week the four story
sxty lsGee mouse az the northwest corner Of
49, -itltH-sI and Mediaon-aVe., purchased by
fe-r Achells. and No. % East SiXty-eighth-st.,
fbei ,stoiy proWnstOne house. a plot l8Xl06 feet
sey.a lalter being given in part payment for the
800. corner Of Irving Place and Nineteenth st
SO 90 Aeel' which figured in the exchange at
Venting continued good In the section below
me- Iiitl-st, but this offers slight encourage
season me brokers'. who rightly say that at this
this - t4e year II could not be otherwise IN
n ~ I4hch OF the business the Fifth-ave brokers
cause :. secuon below the Park have reasonable
frTn 4, compliant Probably every representative
err "a mis- section has clients for desirable mod
one ss c'E IN the proportion Of at least two to
case h I'M sted with the supply. The fact OF the
secfso tldt mere is little TO choose from in this
more =. nc me brokers this year probably have
who deasS ~ clients Of the well 20 do class,