The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-02-09
REAL ESTATE NEWS.

A notably large volume OF business -.
transacted In the brokerage branch OF N.
realty market last week. II raraly hspp.ns
that a hundred private sales are reported
in the course OF a week Yet last week.
reports ran considerably beyond the century
mark. The dealing was widely distributes.
Geographically. and embraced a variety
Of property Both in scope and In character
current brokerage new indicates a wider
interest IN IN" market than has been exhibited
In years For several years activity hs,.
indeed. been marked AZ this season. but Il
has been confined chiefly TO particular line,
Of property especially unimproyed property,
which have each boon successfully affected "a
the exclusion of others. The current move.
ment, while far from embracing every sor.
and condition OF realty. Ia exceptionally
comprehensive by comparison with recent
eypprinrcc
Punches investments are favored az the
moment by conditions in the money market.
Money Ia so plentiful that private investor,
find II difficult to put out their capital adj
vanta geously on pond and mortgage. On
the other hand. the average rental return
on property is unusually high. This situa.
ton, by encouraging purchase Investments
at the expense OF loan investments, accounts
In a measure for the comparatively broad
scope OF current trading. The Influence Of
the growing demand for freehold invest.
ments was apparent last week In an expanded
budget OF sales OF tenements and fats. ln-
GLIDING elevator apartment houses.
Meantime. builders are osdming activity
In the projection of new tenements. fats
and apartments. which was suspended on
the adoption of the present Tenement House
law. Plans were filed last week for -four
seven-story apartment houses on Ninety
Nth street. between Riverside Drive and
West End avenue, and a number OF sites
figured in the brokerage news that will be
improved this spring with housekeeping
apartments. Old high stoop private houses
on the upper East Side continue to be in de-
mand with builders for remodelling on the
American basement plan. and dealing In
sites for apartment hotels and loft buildings
and 10 vacant lots on Washing ton Heights.
has lost none of its prominence as a feature
OF activity.
A suggestive item OF last weeks news
was the announcement that the Atlantic
Realty Company. which bought the block
front on the south side OF Seventy-ffth street,
between Broadway and Amsterdam avenue.
will tear down the existing three-story build
ing and erect a twelve-story apartment
hotel. The item Is one OF several recently
met with that tend to show that the process
of architectural reconstruction has fairly
reached the West Side.
The most important development OF the
week was, however. the publication OF precise
information as TO the location Of the terminal
station OF the North River trolley tunnel.
The news that the station Is to be situated
on the block bounded by Christopher. Green
witch, Hudson and West Tenth streets was
followed In n couple o! days by the announce
ment that four parcels directly opposite to
this block, or in the immediate vicinity had
been bought by real estate operators. and ~
the onlce of Horace $. Ely a Co. 1t was said
yesterday that a number of speculative
purchases have been made which are being
withheld from publication for the present
In order not to disturb negotiations In progress
for abutting property. 1t IL evident not
only that the tunnel will exercise an import
ant general influence on the lower shopping
district and on residence housing In what was
formerly Green wich village. as was pointed
out last Sunday. but that il will occasion q
more extensive immediate readJustment OF
local real estate investments than was ORR
ginally expected. IL now seems certain that
the equivalent of several blocks OF tene-
ments and stores will be taken for the station
and for right OF way. and a large amount OF
private capital will consequently be liberated.
which Will naturally seek investment else
xHlANA