New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-04
THE WEEK IN REALTY.
Tone of Market Hopeful-Ercellent
Volume of Business.

OtuWC " DuSHtCoo.
No sensational sales were reported last week. but
the general tone OF the market was hopeful ana
the volume of business transacted remained excel
lent Properties offered at auction brought falr
prices. and there visible signs of a good de-
mand for almost all kinds Of parcels. pleasing
feature Of the week was the resumption or WORK
many big buildings in course Of erection The
work went along without hitch, though the force
OF workmen each Job was small
The features Of the week were the increase IN
the number of plans filed for buildings to be erect
ed in Manhattan or The Bronx over the number OF
projected buildings for the two boroughs Tor the
corresponding week Of last year. the marked de-
in the conveyances recorded and the Surfing
realty conditions prevailing In Brooklyn Inc
greatest demands in Brooklyn are said TO DC lot
modern dwelling houses. A well known real estate
broker and operator OF Manhattan told Tribune
reporter yesterday that this demand proved con-
cusively. In his opinion. that there were larger
number of persons who could afford to invest their
savings In a dwelling house for their own occu-
pancy or as an investment than ever before why
everybody" said he. rs making money except the
stock gamblers. Prosperity was never so Wlde-
spread
Despite the building trade trout es, the enormous
OF S6i3J6.360 represents the approximate cost
OF the buildings TO be built either in Manhattan or
The Bronx for which plans have been fled IRON
January to date. For alterations alone IN the
two boroughs the sum of Se10S,51 is to be spent
The proposed alterations scattered that they
will be hardly noticeable but II the sum to be ex-
pended in this way were utilized for the erection
of a large apartment house hotel Of the
largest and costest apartment houses hotels
ever erected in this city would be the result At
the southwest corner OF Forty-s sccnd-st and Park
the Hotel Belmont IS being built, at a cost
Of about S. 100000 Such q building that could
be erected with the money to be spent IN altera-
tons, and there would still remain enough money
to build two high class apartment houses or hotels.
to cost about 100000 each
The following combined tables mako interesting
reading:
Total r. & IN a sy II: f:
Bronx from January to date. SOS. ise'l5
tan a aqq IN. Bron4 real estate from January
Total appr9xirnats cost Of building. in Man
haitian and The Bronx for which plans vers .
Total approximate COS: Of building alterations
January -.......-....--..--....-.. eloooz
Total sss4 l66 6e8
What grand totaI-s3s41e6 s93 for this wear. with
turbulent conditions in the building trades! Does
any person now suppose that the real estate
ket IS dull. nslpd and nauseating or that it is so
dead be repugnant to the sense OF smell? BY
adding the approximate OF the title convey
ances. the mortgage loans, the probable cost OF
buildings and alterations projected IN Brooklyn
since January l. the sum involved In the realty
transactions In The Bronx, Brooklyn and Manhat
tan from the beginning Of the year to would
be about s5Ooooo0oO. II any person connected with
realty transactions needs tonic to get gloomy
feelings out of his arterial system. he may find IT
In the building statistics for last week. Here are
the comparative building statistics for last week
and the corresponding week Of 1909:
Protected new buildings TO be built In Tns Bronx
In week Of octoSer s. 1907 3
Increase last that OF the corresponding
week last year .
Many important building operation, are under
s. 10000 Is being built In Riverside Drive, from
Seventy-third TO Seventy-fourth st. At the south
east corner Of Sixtieh-st. and Fifth-ave, fifteen
story and basement brick and stone hotel is in
course OF erection. The Fifth Avenue Estates is
the owner. and H. J. Hardenbaugh is the architect
Two other important building operators the
Hotel Aston and tbs Hotel Knickerbocker. in
Broadway. Then there are the new Wanamaker
store and the Hotel Belmont. two OF the largest
undertakings OF the kind for mary a day. The
number Of big buildings in OF erection Is
large but the operations mentioned should give
an idea of the activity in the building line
Regarding the real estate situation The Real
Estate Record and Guide says in part. in its last
issue
troubles and the difficulty OF Borrowing money
that The number Of conVeyances Of Manhattan
property recorded has begun 10 show decrease
the increases in these figures continued steadily.
while during sePtenbeE the decreases have been
of the present year. for instance. some 4i2 Manhat
tan papers were recorded at the Registers office,
whereas during the corresponding period last year,
the records amounted to 51T papers This is a very
substantial decrease. although not any more than
is to expected under the circumstances 1t should
be remembered. however. that the figures Of the
present year equal 70 those of two years, and
very much in excess of those three or four
years ago. 1t should also be remembered, as part
Of the same story. that whatever the effect OF de-
pressing conditions Manhattan. business In
Brooklyn continues to be excellent
The cOnvevances recorded every week show con-
siderable increase those Of the corresponding
week last year and are about double the number
recorded three four years ago. The number OF
plans fled for buildings and their estimated
cost show equally regular increases. Business In
Brooklyn Is in better shape and has better pros
poets than at any time for years past. Houses are
much better rented than usual. and find also
reader sale. There will probably be Il disti essng
congestion the Bridge this winter but there
after transit conditions will steadily improve up til
the East River IS practically abolished Brooklyn
is undoubtedly just entering upon career OF rapid
and wonderful expansion. which will also have an
important reflex action on Manhat tan end The
Bronx. and the effects Of which will IN the end be
there has during the last week no change In
the situation. Business has been maintained at
about the same volume. and has offered no new
or noteworthy characteristics About 40 per cent
OF II consists Of fats and tenements most of them
in Harlem and about % per cent residences. The
rest Is divided old buildings and vacant lots.
Of which the proportion IS unusually small.