New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-13
THE WEEK IN REALITY.
Brokerage Business Increases
Changes of OscnerShip.

An .rn. indicate that the volume OF business
~r,ch VIII be transacted IN the real estate market
rom now until next spring viii be large Many
brokers said last week that while they had much
,.ss,-. time she demands for their services were
increasing each day. and that in a few weeks they
expected 10 be occupied every minute OF tneil
working day. In every section OF the CITY Iast
xreek there were also some interesting changes OF
ownership recorded. and in the same sections were
hears r,.nors q pending larger transactions
Everything considered. the business cone II inc
real estate market last week was as larse as
could be reasonably expected. No new pulIolhs
or purchasing movements were revealed ms was
not DISAPPOINTMENT however. as this Is not the
time OF the year for such movements seVeraI
Investors last week obtained large parcels OF laha
One o. the most considerable Investment uahsaC-
lions reported was the purchase OF The i've Story
srartmeut house Nos. 20 and 81 West One-huh-
dred-and-f ftecnth-st, through the ficken Lily
Construction Company.
The stability OF the real estate market is clearly
shown by recent realty statistics. The numper OF
buildings projected IN Manhattan and The Bronx
from January 20 date is l.2sl. as against lzo Tor
she same period last year. The approximate value
Of the buildings projected this year Is SCI 45S5. as
against So .os7 for the corresponding time last
wear. The building activity in Manhattan since
january has been truly astonishing, as plans for
nearly one hundred more buildings were FLED from
january 10 date than from January TO septeIn-
Der j. 1902.
II is not dfficult 70 find the cause OF this in
crease Manhattan as well as The Bronx is under
built and thousands Of persons who live in tene-
r7ent houses and have experienced the benefits OF
senement house reform no longer rest con-
tented IN dark and Unssnitary rooms. They must
have light cheerful and sanitary rooms. or else
they viii Join the ranks OF the van dwellers
An owner OF a tenement house who cannot keep
his tenants over six months. has 10 paper and
paint each nat every time the flats leased and
fhc sum spent for this work Is big Item IN The
operating expenses Of tenement house. Inc
van dWellers' get the beneht OF this expenditure
They move into clean. sweet rooms. stay only a
Few months and then make their home in another
Naf which has been papered and painted for them.
The mortgage market is not 50 pleasing as IL
should be, and unless II becomes easier u IS hkelg
- hold back many proposed improvements A
person who can get loan bond and mortgage
nate Only one 4 Der cent mortgage was recorded
80 rsoc- Most ~ fbe MORTGAGES were at : and
Iler cont What is the cause 81 this condition OF
Effairs in the mortgage market II Is asserted
shat the bic banking and trust companies which
lend money such securities are nnuinR more
rroftabe WAYS "a present 10 invest their money
ff has hoeu the lot 81 builder TO pay the hiSh-
est legal OF interest building loans. as the
risks assumed in such operations have been many
fimes greater than In q straight bond and mort
rage transaction. Here there is no cause Tor COM
rlaint. however. Asking per cent interest on
lnortgaCes on choice properties IN Manhattan. or in
fion u would appear that this condition 81 AFFAIRS
cannot exist for 9 long time without many inlu-
entail property owners raising their voices IN Pro-