New-York tribune., 1900-09-09
REAL ESTATE.
IMPROVEMENTS IN THE UPPER FIFTH
AVE. SECTIoN-RENTING GOOD.

The return OF mulutudcs homeless New-York
people from the various summer resorts follow
ing the Labor Day holiday. most of whom lost no
time in making their for the winter known
at the real estate Offices. has given the brokers
and their clerks the busiest week they have had
since June !. All classes Of private dwellings arc
renting well ard the prospect is that before the
first Of October practically all the houses that
in any way desirable for private families will
have been leased. The new apartment houses are
sharing In the general activity. and are filing up
rapidly, reports from the West Side being more
favorable to rentals than for several years
past. The hew elevator apartment houses recent
ly erected along Central Park West getting
the better class Of tenants. and rule better
rentals, than those further west. Notwithstanding
this there more vacant apartments on the
side of the city than the agents can possibly
lease. and the owners of the old style apartment
houses are not likely to enter into the competition
il securing tenants until the desirable modern
houses have their rent rolls well filed up.
Every week sees plans filed with the Buildings
Department for apartment houses on the
West Side and last week no exception to the
rule. On Friday Marx and Moses ottinger hled
plans for story brick and limestone struct-
ure plot lO3 by 100 feet at the southeast cor
ner OF Riverside Drive and Ninety-eighth-st- The
building which is 10 accommodate twenty-one
families will be equipped with an elevator and
every modern Improvement, and will cost S275,oOo
cent rise values with the possible exception of
the Murray Hill blocks as the narrow belt OF choiee
Central Park ana Madison-ave and running north
So ra3d has been the rise in values that high
class speculative builders have entered the section
toG ter conpieed P4S dwellings, at handsome profits
The Carnege purchase OF me odGGK rI0ny n
was the principal factor in determining beyond
hg 6oE o. ro9s IN hf the Ehe q Tdy
apartment house at the southeast corner OF Eighty
reente If sheauiatiI-c apartment house build
ers BLOCK
were held by owners fully able to await favorable
Developments accounts largely for the fact that
until Mr.. Carnesie's purchase of the riding acad,
emy block; assuring the repjacement OF the tne oio
structure by a palatial dwelling: there were no
further Developments tending to injure the future
As comparison of values in this section it is in
tcresting TO note that the owner OF three run lots
5b3 so G0 rereftIy rSFsed an offer of $50 900 for
the property. Other lots. particularly. those
81 Fiftl-ave- have enjoyed rise in value almost
equal to the example stated.
The magnificent private dwellings erected by
individual owners for occupancy in Fifth-aVe and
the adjacent side streets has lndrced some hlgh
class builders buy in this section. and the prices
paid lots and the expensive and artistic char
scteT Of he dwellings erected by them nave
brought about a departure In the speculative
Bon or aITeadv conpiefed. several dwellings, of
this character. The largest of them is to occupy
80 boTnant e-r,rt,,re For which freeman &
THAN have drawn the plans, the house to cost
100000. another FIVE story American basement
house by the same firm of builders q north
10000. Still another instance of the same class
Of building is the purchase last year of 77XlOO feet
on the southeast corner Of Eighty -second-st, for
Improvement by the erection Of three five story
American basement houses at a cost of $4,000
Building Of a speculative character In this
section. however, IS the exception and the va lue
of the land and the style of dwelling in keeping
with the magnihcence of the neighboring dwellings
make the section absolutely prohibitive TO most OF
the builders There have been several recent sales
20 private individuals for Improvement, and among
he iraportant transfers of the last few months may
be mentioned that OF the old Arnold mansion. occu-
Iving the southeast corner of Eighty -third-st and
Tiftf-ave to William SalomUn, and the subsequent
sale to the buyer # he adjoining 52-foot va
cant nlot IL the avenue at S2Glo00- In May last
william A Clark bought The avenue lot aoJolnlhg
his Seventy ty-first-st. corner.
While the character of Fifth-ave. property above
tho %inAtics makes far less valuable than in the
lower district lots all the up to One-hundred-
gnl-tenth-st. have shared in the rise N values In
Narch las1 Maurice -Untermyer sold to Charies l.
tiffany the northeast corner of One-hundred-and-
17irtll-s and Ffth-aNe., plot lyO by V0 1eet, LOT
SI32500 Nj Untermyer took title to The piSJ n6 Sl5
wears ego for an expressed consideration OF SSoVV
there were few sales of Importance by the brok-
ers last week those reported including that OF an
other of 4be new American basement houses IN
Fort yirt hist on the ola Columbia College site.
and OF some uptown apartment houses. buSlHSSS
in the auction rooms was also quiet