New-York tribune., 1900-07-29
THE WEEK IN REALTY.
A QUIET MARKET IN THE BROKERS'
OFFTCES-ACTIVITY IN THE
BUILDING LINE.

Last weeks real estate market was a repetition
of the week before and few sales of importance
reported, either from the auction rooms or at
private contract The dealings almost wholly
OF professional character, and consisted prinei-
paliy Of untmpoTtant trades nOticea Die fea ture
OF the weeks transactions was the almost tctal
neglect of desirable residential property. With has
formed important part of each weeks sales
thus far this summer. The only sale of residential
property of Importance in the entire East SIDE
section that OF No. 81 West Fifty-thrd-s a
five story brownstone dwelling house on a lot g
by 100 feet which transferred by William
Thorne to James Simpson through John n Goidins
The West Side section was equally neglected.
The Fedeeming feature of the week the con-
tinued activity in the building line which with
present low price of building materials Is assum-
Ing proportions which promise TO keep the building
trades busy for several months. Fortunately for
the general condition OF the market. there IS less
building Of speculative character than formerly.
West Side lots on which poorly constructed apart
ment houses have been growing up with the ra-
ptdty OF mushrooms have little attraction for the
builder for investment, and there is also notice
able contraction in building operations in the lower
tenement house districts. The absence of this dis
astTeus speculative dathouse building. which for
several years has constituted the bulk Of the in
dustry has, however. been superseded by marked
activity in the neglected mercantile sections, and
in the centre of the city where substantial inter
ests are planning to build modern dwelling houses
and apartment hotels. In addition to the long list
| OF building plans announced a week ago for the
downtown business section, John T. Williams will
erect twelve story structure at No. ia to LIS
Llberty-st.
The sale OF No 81 West Forty -hfth-st-, a three
story and basement dwelling house. plot 1s,9x
I lo feet, by Rosalie Rafalsky TO L c. Mosher
means a second addition 20 the Schuyler apart
ment hotel. The building has been leased TO
Arthur w Eager, the owner OF the Schuyle Ter, at
Mr. Eager also has a long lease the similar
building now being erected the other side Of the
Schuyler, at No. 6S West FoTty-dfth-st-
taxpayers are awaiting with interest the nnal
announcement of this years tax rate, and there Is
every probability that 1t viii be considerably less
than the approximate estimate OF 80 Whatever
the is It is certain that it Will be least Is
to 20 points below last years high level, and, as
there is no Increase IN the assessed valuations,
much better position this year than last, though
the majority of the taxpayers far from satisfied
that the rate could not be brought down within
the zoo mark II the prOpensities OF the expensive
government now in charge of the city's finances
could be curbed. There is no other single factor
that affects the market for real estate seriously
led many intending purchasers in the course OF the
last year delay seeking tment in real es-
owners for investment, who attempt to rent their
properties for long terms On the basis OF a mod
crate income.
Owners of property in Washington Heights were
Iubilant the announcement last week that the
spur connecting the system Of the Metropolitan
Street Railway Company with the tracks OF the
and Ansterdam-ave. was completed and IN opera
ton This gives TO the residents of the Heights
facilities for travelling UP and down town as read
lily the West Side as on the East Side, and viii
save extra fare for many Of the patrons Of the
road. This spur has been needed for years, and
the ease with which Washington Heights can now
decided tendency 60 improve the condition of real
estate in this residential section.