New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-13
THE WEEK IN REALTY.
BmGrs Shoe Signs Of 4ctivity
for Coming Season.

, s,rse-s had no intention 81 being idle the COM
a. sprinc and summer. and that II a few more
.-rse-s became active there would h 10 reason
- "a general increase o. fiat and dwelling house
.srs between now and next fan. by which time
!. - exnected that the supply VIII be nearly equal
. .rs demand OF course. about every year rents
y, slightly advanced. but it Is seldom that the
l....irr warrants asking eEorbitant rentals. AS
-, ,-,ie o. land increases. rents &c Up The value
+. I'D mainly depends on the supply and demand.
. - rgpulated residential district On a central
,s-ion low Is likely 10 BE congested residential
- q few wears hence. This congestion is
.,sfly preceded with general raise OF rentals.
.e,eIIv II little Improvement 10 land IS cone 20
-. the probably increased demands made on tho
section.
- along lines somewhat similar 20 the dis
-, described is the East Side. north 81 the Brook
- R-I5rs and south % E.ghth-st. Tor years the
-,.,a,5r % the lower East Side kept Oh incress-
-, tu+ll rentals there FOR fats Of andauatsd style
-, rl-hrr than rentals Tor clean. well built hats
g. the Harlem section. What happened theIls
vel hundreds o. tho people who had lived In the
l.v.ar East S.le for many wears. and who thought
.fst they would never be happy In any other sec
.,- suddenly found thar tho rent burden was too
racr Tor them 10 hold up any longer and they
moved 20 Harlem into modern hsthouses. where
lie rentals were lower shan what they had been
having f0r their old homes ir the lower East Side
And best of all. they found that they could live
IN tlo t1tIleiN efalt'tl -ol eN'N >ttH
e.ssn and inviting rooms and no foul smelling
s+rssts or alleys are conducive TO happiness
Thers were other causes than higher rentals that
were 10 a large degree responsible Tor The uD1su-
ally large number Of removals from the lever East
SIDE the Harlem section. but the rent question
vas one OF the principal reasons. When the people
who have recently moved into harlem fnd that the
rentals there arc too high for them they VIII I'M
toubledly stand the rent burden as long as posi-
De. and then move 10 some place where prices are
reasonable.
II is tins constant Increase IN the value % real
estate and the consequent Increase Of rentals that
are so attractive 20 the investor. the builder ana
tre fTccuIator. Every one who invests collar IN
.Jsu-York real estate expects 10 reap PROFIT from
she Investment Most CT them do so, though the
real estate field IS strewn with wrecks, due gen
orally % becoming identified with a project az
great magnitude OF small capital y iu In the
market comes. the small capital is wiped out and
tho persons behind the project 80 down 10 financial
ruin. Iu the present condition ~ the market there
little likelihood OF any one who is not chronic
gambler landing IN staEuart fields. Then. again,
n these days the guides 10 success In realty are
easier 90 see and are within The reach OF more
persons than they were many years ago.
AJLURING REALTY SECTION.
A section which appears TO be daily becoming
more sIUring 70 the investor and the Spectator
Is that bounded by Tweuty-third and Thirty-fourrh-
fn, Fifth and Seventh ayes. Ever since the
Pennsylvania Railroad Company made public its
plans for the building OF tunnel terminal station
a. Thirty third-st and seventh-ave.. hardly
month has gone by without some large tract in the
ssction being bought for Improvement or some
plans filed for the erection OF q large building.
Much has recently been written about the projects
foot Tor the Improvement OF many parcels n
Thirty foUrth-st. between Fifth and Seventh es..
nut little has been said about the plans Tor build
mss TO be erected In the section which were 1le1
last year.
plots in Thirty-third-st. were among those filed.
one az tho plans for fifteen story brick and
stone hotel 70 be built on plot +oSso feet on the
Fifth-aye, "a cost Of $4,000. The plans
I1m6. he aTchitect a. n Benoit is the Iessee
d. George Forg7tston fled plans for the erection OF
plot SIiESs feet, in Thrty-thrd-st. between Fifth
Many buildings were projected Tor Thirty-hrst-st.
N the wear A. T. Allen. the architect. hled plans
ior the erection OF an eleven story brick store
premises Nos e and 3 West Trtyrrsjst Plans
for the erection in Thirty irst-st. between Fifth
and Sixth aNcs.. OF twelve story stone and brlck
holel, TO cost S35oo9o, were also filed by Mullken &
were: -Four six story brick and stone store and lon
buildings. 90 Doe built in Twenty-siZth and Twenty
81 Twcrty -ifrh-st.. q number of loft and store
buildings in Twenty fourth-st.. ana also BIG
warehouse f0E TRenty-fOurth-st.
A REALTY PAPERS OPINION
The Real Estate Record and Guido" says in
PAT in its last issue regarding the real estate
situation.
The amount q real estate buen sss transacted
enc tie general outlook distinctly improve from
- l' Wa, anu n the lHpr3N enent continues
There Wil he enough business for everybody dur
Ing April May and June. The January records
were undeflably discourarlUg The number Of
colveyauces did not diminish compared with the
eo7lesp 9n1lnE uefuc 90 1913. but The money repre-
scented by Them diminished very cons.d ably. Ths
dreaming az tlis fact was shown clearly by the
~ lEat. records, which indicated q decrease q
compared with Jaauarv. I-c-this decrease taking
t, , sI'iTes ln morteases bearing low rates II
-! 81 Tho January records. however represent
business transacted in December: and the Feirii-
49, - Lung lle January business tel
~ oeI ,'F story The number Of CouEcyances is
SS,sy ,1creaslag even 4 their total expressed
nc Dunloer. Of MORTGAGES is increasing very con
Eron the plans Tor rev buildings ales eroy ~,
hettcr weeks. Between February Is and March 4
~ instance. the number Of conpevances ir Man
haitian alone increased by hundred. or fully y
Eh..e the number OF MORTGAGES was augmented
~ l'e or oEgI ~ Der cent u looks very much
es y tne market were finding SIS pace, and would
sool break away from tie conditions whi-h have
.ne.i houses continue q dominate the trading. but
latr proportion OF purchase for investment or
Ihat inc transactions cousummated are becoming
on The whole broader ia character.
- concerned ! izrqe rsei --teta sy,s bg,ie I.-A
uyiy is plainly begfnninE. Both OF these sections
&C on the eve OF a rapid and prosperous career
~ deteopn1en which VIII have too forward an
.12ase 10 he checked by dear money or dear ma
mas Builders have beer holding back chiefly
,,-s-lse OF We h-Eh price OF brick. hut these
$50 WI pt.llnish during tho next month or two
'.tis 20 notice also that work IS being
cared Oh the new Hotel Brunswick -. srfe~-
Ifisf that promises 70 achieve zrc7f' fbfrge r-r
.Ne tocation ~ winch 81 is situated Tba bae-
ovever e Tet 70 come, and the news Of the new
.No iiipl't - 'n - -esoct 70 tho new and re 81
parts OF ne c.LN promises TO be OF r~os. s-,r-.
ans almost uniformly encouraging in ~ est