The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-01-26
REAL r A NEVIS.

YAst weeks brokerage news disclosed M
uch exceptional group Of individually note
worthy transactions as the preceding one.
However, q week In which approximately
a hundred private sales are reported Is sum
clently noteworthy from the mere bulk OF is
business. Besides. last weeks business in
Guided a fair proportion OF large Items, such
as the sale OF a downtown parcel valued at
Oh. 25o. 900, a block OF eighty lots In The Bronx.
A holding Of iee lots on Washing on Heights.
three theatre sites. and several block fronts
of vacant land. The dealing was almost
wholly In speculative property. but. with
this limitation. activity was marked and
general.
or twenty-nine dwellings sold east and
west OF the Park. twenty-one were located
on the East Side and eight on the West A
dozen private houses were sold south Of the
Park and north of Madison Square. Only
two were situated north OF Central Park.
This distribution Is suggestive OF the specu-
latiye nature OF a lar ge part OF the movement,
In private residences. January Is not a
month In which there Is normally any very
considerable demand for dwellings by In
tending occupants. Yet dwellings consti-
tuted numerically nearly one-haf OF last
weeks brokerage business. and examine
ton shows the bulk OF them TO be located
IN two highly speculative neighborhoods
the East Side and the midtown residence
actions. In both these sections rising land
values and an active building movement
offer unusual opportunities for quick rrohts.
and Il is evident that a large proportion OF
the residence properties that figure In current
brokerage reports will be resold later In the
season TO speculative builders or to Intending
occupants.
This conclusion IL borne out by statements
met with I'm brokerage orices. Brokers who
last week sold two houses In West forty-nfth
street announced that their client has re-
Gently acquired thirteen dwellings In thst
street Immediately east and west OF fu'h
avenue. East Of the Park activity Is Just nov
especially conspicuous In the sihties AND
Seventies. between Park and Lexington
.ssnue. In this district houses which .
wear aso were quoted at $4,000 are selling
readily for a., 900, and the supply al that
azure IA said to be limited The building
movement which has been In progress sew
eral wears west OF Park avenue appears to
have brid ged the barrier interposeu oy 'he
tunnel, and II Is altogether hkeiy that 'ne
spring and summer will witness a recohelruo-
tion process In the residence streets between
park and Lexington avenues which has not
been equalled since the neighoorhooo Nssois
inally built up. Many OF the old houses
will no doubt be replaced with elevator mats
hut the expectation seems to be that the
majority will eventually be altered into Amer
liz -
ican basement dwellings or replaced With
dwellings of that type.
This expectation is founded In the belief
that the East Side is TO contain the gres'
permanent private residence centre OF Man
haitian, and that such expansion IN prl's's
domestic housing as may hereafter be Ell,
perienced will for the most part be promotes
there. The West Side. on the contrary. II Il
thought, will be Increasingly transformed
into a region Of high grade apartments and
apartment hotels. with a tendency to restrlc'
private dwellings to comparatively sinai
areas. The small and stationary marke'
for dwellings on the West Side currently
noted is certainly a suggestive phenomenon
when compared with the speculative tone Of
the expanding private house market on The
East Side. SO far not one building opera
ton in dwellings has been announced thl'
wear west Of Central Park. and only one ha'
been left over from last year Meantime
though . single brokerage firm has 700 dweII'
ings for sale on the West Side In the Seventies
Eighties and Nineties. sales for the whole o'
the district wcst OF the Park are reported al
the rate Of not much over hall a dozen woes