New-York tribune., 1903-06-07
THE WEEK IN REALTY.
Many Building Plans Filed Despite
Conditions IN Building Trades.

The feature Of The realty situation continues to
be the number OF building plans filed under the
haitian alone the number OF building plans fled
was Ioe In May. and the estimated cost OF these
buildings was given as So.s2S.o5o. this sum being
more than soo eoo greater than the estimated cost
cf the buildings projected in May, 1907
A fair volume Of business was transacted last
week ana the number Of investment purchases
made highly pleasing TO many brokers. The
fact that the building trades troubles became
complex, Just when it thought happy end to
fhe disse-soas was near. had depressing effect
,n certain realty lines. Just how serious was the
effect on realty matters OF this sudden turn for
the worse in the building trades controversy can
not at present be ascertained 1t created much
rest and uncertainty to the probable future
conditions in the loan market There is no doubt
that the builders and building loan operators
working splendidly together in the present crisis.
ana many OF them who have been asked If there
was iTnrninert danger Of any being crowded TO
the wall have e1lphatically said that they would
stick together for many months yet. and that only
ct unusually long building tieup would result in
failures.
The attitude OF the builders and the building loan
men is like tonic TO the realty market It stiau
lstes many investors This is the dull season. and
even under normal conditions little activity would
Re expected But 8 week when such sales that
Of No 4 Broad-st. the Beauclere. at the north
west corner Of One-hundred-and-nnth-st and
Broadway and of plot at the northeast corner Of
sixty-second-st- and Broadway, are reported is a
fairly good business week. The buyer of the plot
a. Sixty-second-st- and Broadway was George c
Bpidt. He bought for investment These are only
few Of the good transactions reported last week.
The statistics OF the week show that the total
amount CT money involved in the ccnveyances OF
titles in Manhattan and The Bronx from January
. 70 date was SIS 1854 against SS2l4s,o7z for
the corresponding period last year. The total sum
Of the MORTGAGES IL Manhattan and The Brook
from January TO date was $l45.26314l, as against
sl5s SIS s72 from January TO June last year From
the first Of the year 10 date the total NUMBER OF
buildings projected was Isl. and for the CORE
spondinc period last year Sl4 The estimated cost
Of The ~ buildings is S6 S55 and Of The 4 build
ings So. 1s25.
The Real Estate Record and Guide in its issue
yesterday says in part on the real estate situation:
If as seems probable. the labor war in the build
sng trades comes 10 an early ending We shall look
FOR more activity than usual during the coming
be considerable business consunlmateq botn IN iri
zae % TeIS % rs I515rcbsser can anticipate with
ndence decrease in taxation; and income proaucf
property 10 purchase Just at present than income
producing stock certificates 50 f2T as nnipT0Tea l
property is concerned the position Is equal! sIos, @
NewYo requires large iii icrea f s2eTsl IN l veaTs
Of heavy building entirely to satisfy ..,,
Speculative builders have come TO appreciate TINS this
ssrt They are fling plans for new teneInents ana
apsrtrnent houses in very large numbers, and they
vii continue to 90 SO Is long as a bs1 a4 fbeT cam
rent their buildings within month OF two atteE t
easoh il is extremely undesirable that bankers and
money lenders should take seriously the report we
mentioned last week-the report. viz, that there
Sss been overhuilding in Manhattan Manhattan
Is FAR from being overbuilt. The great constuc-
tonal work Of the last few years has been Tor me
benefit CT the rch-in order to provide aceonnao%Ga "a
lions for the increase Of business and 1cr ne
habi1ation Of wellto-do farllies p1er.ed
snd ii IS this neglect which the builders are now
seeking TO remedy. That this is true lnterpTerI
fion OF the present situation Is SHOWN clearIy
eno7lrh bv- the construction figures There ttlaNe
TeeD -le0s fled for z95 Manhattan buildings
during the first five months of the present year
srsfrst only SS3 the period last year ~
me same tine the aggregate cost remains hearly
eoSlal SO that the average cost Of each orodng 20
- e-ecreT has diminished from about Se4Uo 10
about 5000 which IS precisely contrary TO lne ten
Ge7cv of the last few years Whatever may pc
oae ~ bfsfress elsewhere. real estate and build
~ n %ev--Ycrk can look forward TO at least one
~ cco7