New-York tribune., 1900-10-28
REAL ESTATE.
'-SILVER TERROR" AFFECTS THE LOAN
MARKET SALES IN
FIFTH-AVE. AND UPPER
BROADWAY

The week in realty just closed has been marked
as much by the number of coed sized deals which
failed Of cOnsUmmation by completed sales This
IS accounted for by a stringency in the loan mar
ket. Buyers appear II be in sight, but ready
money 10 carry through a transaction is hard to
get. 1t can thus be seen that the silver terror
which has arisen from the booming Of Mr. Bryan's
cause in the East. has had its natural conse-
Quences. Elect Mckinley said prospective
buyer the other day to his broker. and I'll take
this property and get the money to back me-"
Again. professional lenders have taken advantage
bf the prevailing uneasiness OF the market to ask
for and AZ per rate on a 70 TO so
per cent valuation. The advertisements for 3h per
( cent loans are tally found 10 demand as low
80 per cent valuation. thus making the actual
rate considerably higher.
The week in its record of sales of private con-
tract show goodly number Of what are practically
exchanges between professional operators and
some changes Of equity. AS an example Of the
latter. the Lincoln Building, in Union Square
West has come into the ownership of William
Crawford, Jacob d. Butler having transferred his
equity in the property Mr. Crawford.
Among the transactions in the upper part Of the
city the sale of the southwest corner of Broadway
and Observation-Disclosures may be prominently
mentioned. The property consists OF a new seven
story apartment house 60 by 100. and sold by
Paul Mayer for the builders. Smith & Rofler to a
firm Of brewers for S2400G3. This sale is reported
10 be for cash, which makes it the note
worthy. Another sale in upper Broadway
mat at Broadway ana ne-hunOred-and-thlrd 81,
by Daily & Carlson.
Several sales in Fifth-ave. property were also
features OF the weeks market. Flake Bowling
VINO have purchased the lots in spite of
ports to the contrary have bought for investment.
Another Fifth-ave. transaction the sale of
the northeast corner Of Ftfth-ave. and Eighty
ninth-st a vacant lot. 25.2Ia by 1922. which, with
the adjoining lot, was recently sold TO Dr.. ]. ].
Lawrence. of ST. Louis Dr. Lawrence bought the
property Of Gustavus L. Lawrence who acquired it
from ex-Mayor William R Grace. Mr. Grace
bought the corner, sos by 1922 in 1883 for s72 0OO
The price given the resale Of the corner by
1922. is $4,000 The southeast corner of Eighty
fourth-st. and Fifth-ave. lot 25s by l0O was
by the Kemp estate in May last for $4,000. These
figures. therefore. go TO show how property in the
upper Fifth-sve. section, facing the Park has in
creased. il not doubled in value in the last ten or
twelve years.
Another transaction OF considerable Importance
in regard TO the utility OF the property is the sale
OF the waterfront at the northwest corner of
Twelfth-ave and Forty-ninth-st. adjoining the
pier OF the Erie Railroad by Edwin Johnson the
brother of the late Bradish johnson. This prop
erty measures 1l7xsSs feet 10 the permanent ex-
terror line II is understood that the property will
ultimately pass into the ownership OF the city
The buyers name has been withheld as that OF
an investor" William n Ryan conducted the
deal The property adjoining. leased by the city
70 the Erie Railroad. will after May next for
$1,000 year.
other sales include No 81 to IS East Forty-sey
enlist, consisting of three stables, a lot 50x