New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-31
INF WEEK IN REALTY.
p,rcbosing Movements Unusually
AttractiUe to the Public.

- and interesting are the present realty
% -a-- As TO make the real estate market un-
-, o,trac tive The public Nearly all or these
us's-s ~ts have been described at length in the
Us II this paper. But there stlil remains
s'.'n'-- ors 10 he said about them. feature
pHeh ,r,,b the exception Of that affecting the
O NJ an. section Of Brooklyn. is the absence OF
81. rho have probably never been so back
III =, revealing their intentions for the spring
"a .-,er as at the present time In the last
~ ,s the number OF plans for new buildings
10 -. baen less. It is said than for any similar
nIss u in the last twenty-five years. OF course
De-" ,ot the tine Of year when builders break
lH Cor new projects. but is rather when they get
,lans in condition, so that they may be ready
=. Early spring TO erect their proposed build
~ uoV, long the real estate market can con-
-. .cti,e with the majority OF builders inactive
- ,,atter which only time can tell II may be
-. nresent principal type OF transaction can
ms he chief feature OF the volume of business
-. ,nonths if not for year. with the build
=. he background. simply watching the drift
t..r,irs But the builders day is long overdue.
"a ssr, the sale and resale OF vacant property
,ya-,sro and IN the Brownsville section OF Brook
- -, ~ tenement houses north Of Fifty-ninth-st..
~. 80 features Of the market together with the
9. L.,inr Of the Fifth-ave. section, from Twenty
-. :. .9orfh and the West Side district north OF
,intb-st The purchases are mainly specula-
g.. sxespt in the Fifth-ave. and West Side sec
$50 Much vacant property which has been sold
- Manhattan Island in the last few months has
e. that short space Of time been held by many
-o-sors And this turning over OF property. as II
= commonly called. plainly shows how many OF
.t larger realty corporations and spectators pave
,he way for some Of their smaller brothers. A
large speculative syndicate or big Spectator Will
huv whole block. The smaller speculative syn
dcatss and SPECTATORS have not the money TO do
business on such large scale. and. therefore they
must be content 10 buy from those stronger than
they financially As the number Of small specula-
Tors is much greater than OF the big IT is usually
m easy task for the big to divide thier parcels
40 &c N nnd a ready market for their holdings
among the small The latter. in turn. sell 20 others.
ana in this way plot may in n month be owned
Nv six or seven persons. none OF whom have had
snv intention Of holding the property as an in
vestnent. ~,
tsl,e over the property he can get building loan
70 q 20 the Investor that the builder looks 10 reap
a r,roat from his investment and labors Why the
s5ac5Is 1--WE builders do not form great syndicate
spe9uIa Lave o. thejr building Operations without
having 10 get pecuniaTy aid from the building loan
men Is a perplexng question There are many
builders and realty companies doing construction
work which DO not have 10 seek the aid OF build,
ing loan men to carry on their operations; ana
these viii be found among the most successful in
this city Because they do not have 10 pay specu-
lator FOR leading them into district they can IN
dertake any building operation at less cost than
builders who buy from spectators and build with
the aid OF building loan men
REALTY PAPERS OPINION.
The Real Estate Record and Guide" says. in
part in its last issue regarding the transactions re-
ported last week:
The transactions this week show slight change
IN the conditions which have prevailed in the pri-
vate sales market for the last two weeks. While
there are still fair number Of lot sales, Nat
houses and tenement houses are again the pre-
dominating element in the weeks business, there
being 0l Of these out OF total Of 100 transactions
There are however. several good deals IN business
properties viz: No. 81 Wall-st., Nos. 4sl and 495
broadway and No. IS Maiden Lane. Dwelling
houses also appear be the increase. there be-
ing tWenty-seVen such transactions, with that OF
No 4 East Eighty-seventh-st- as the leading item
The West Side in the Riverside section. appears
getting its fair share OF business, there being
twelve in this section for the week six being dwell
ing houses and six elevator apartment houses. The
twenty-eight lot transaction represents III lots as
against 20 for last week For the corresponding
week last wear there was a total OF los sales.
g being fathouses and tenement houses, ii dwell
ing houses and Is lots old buildings. the lot
representing only 60 lots