New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-25

ton Liquidatns Company. 20 Mr.. Brown. OF
Poughkeepsie. The houses a plot 75xl35lo
feet II is said that the purchase price was S6O"p
IN the last year movements Of great magnitude
which nothing more less than the i'm
provement OF Twcnty-seventh-st. between Fifth
and Madison ayes. excellent lines have been
under way, and have had beneficial effect on
properties in that section. Attention once again
directed this week by the sale by the
Century Realty Company OF No. II to 10 East Twen
ty-seventh-st. running through to No. 10 TO IA
East Twenty-eghth-st.. to Charles T. Rodgers.
bydT Of the Hotel WeRgtOn AMI 3 the pRroha5
Co. Of No II East Twenty-seventh-st.. from the
-seyenth-st. from Mary 4 Herter. Stables
5oxsSs feet. He. will remodel the old stable build
lnss and use them az autonobile stations. Mr..
ton of twelve story hotel
WEST SIDE FLATHOUSES SOLD
The majority of properties sold IN the West Side
section above Fifty-nirth-st. fathouses. This
class OF sales should be especially pleasing to the
speculative builder. who has chosen as his best
field for operations the West Side section. The
number of such sales shows that there is at least
a fair market for properties but IT is thought
that the demand under present conditions should
be much greater. Why should not tenement, fat
and apartment houses in the West Side district be
In great demand? Most OF them substantially
built. well rented. within short distance
Of Central Park. stand on dry ground. front in
clean attractive streets. and. moreover are
homelike.
The income from most Of these properties above
all expenses is 1t is said about 10 per cent Of the
ing TO get these properties at figures which would
are waiting TO purchase under such conditions
they will probably have to wait until the end OF
Der OF men who do not care to part with proper
that Of those who hold less desira bic parcels and
willing 20 sell but ask ridiculousy exorbitant
The life Of the real estate nlarket IS principally
based the wealth of the city and on the ex-
owners and in fact. many builders have forgotten
this truth For nstanse suppose every a Sgs sd
owned by one man. with sufficient financial
suppose he held as investment his vast realty
holdings free and clear and had money IN MS
provements and to pay taxes, etc There would he
no real esat@ ro as 'ng 30 on
owns such a vast area Of land as the West side
S SeGtT to T. Il would appear however that
The attitude Of many Is to a he nxceSf TO
fabulously high prices. and have somewhat clogged
he he heart Of the realty business.
No real estate men, Il is probable. hoid ine
phases OF the realty problem. To such an apPar
emily simple question as to why the IN oE STea Es
rnand and are being improved on the best lines
s ation ne in TIC lover west Side tenement house
district the replies from experts would It 1ui Is
when person gets the idea firmly into his head :,
that " he G2n or 10 mprove vacant parcels
or plots on which there buildings he has learned
market he usually realizes that he has got a very
foolish idea into his head. The fact is he Is then
lens In view Of those assertions the difnculty of
determining the cause why more tenement houses
fathouses and apartment houses in the West SIDE
section north of Fifty ninth-s ST are not being sold
Is revealed.
PECULIAR BUSINESS METHODS
The reason VIII many choice properties seldom
change hands IL known TO many persons identified
with the real estate market. II is the peculiar
b,.iness methods OF brokers or owners. and some
times OF the prospective buyer. Some months
n we'll known real estate broker offered to buy
FYrth-ave house woman, one who thought her
self very bright in business the She
ho,;xht the parcel for 100000 about year before
she received the offer. From the day OF her pur-
chase until the offer there had been no unusual
demand for properties in her section. nor was its
future particularly bright. The offer $4,000.
considered very fair price. She wrote letter
her price for the property s2oO,coo saving
what follows:
rut Won should not forge, I'm dealing with me that
IL cost me sl5.0GS 10 move from my old house and
get nicely settled here: then have spent about
IL 600 IN improvements. II 7 sell this house 1t
viii cost me about $1,000 to furnish a rev place for
rnvsslf and about 81 GO for improvements That
would make the cost Of this house To me sl6j 900
And do YOU not think I entitled 10 al least
"a, 40 Tor ali the trouble and bother ! win have In
selling and quitting this place.
The woman siiIl the house Another wom-
an was about sell her house for $4,000 when
she asked the ndvce Of well known real estate
broker lilo told hor tina; she would practically
be giving the house away II she old for
~ y ~ ss p, ,a, 40 'sra te broker.
dealing In futures and not realities The house is
stu Tor gale.