New-York tribune., 1905-01-29
REALTY IN BROOKLYN.
Small Investors 4re MoUiag To1oard
the Suburbs.

essentially a borough OF homes. Brooklyn can al
ravs be depended upon 10 furnish to the recorders
!, real estate happenings fair sized list OF daily
s.rsactions in holdings of purely residential
hsracter. Even at times when real estate has
sasn labor5ng under conditions which take from
me trading the virility that makes the annals
:, +he market interesting TO persons who are b,t
osual followers OF the doings in the field OF real
- trading in Brooklyn houses and home sections
goes On
The Manhattan market has few properties avail
te for the small investor. Its business is largely
.orposed OF dealing IL expensive holdings out OF
m reach of the small cash buyer hence it is easily
,-euepoed by ether markets. Commercial condl-
.,ons the state OF the money market or the course
- events in Wall Street arc factors OF great po-
.sr0r The small cash buyer whose investments
s,sliv represent the savings OF years, is further
~sr,oyed from such influences. The purchase of 4
home for personal occupancy or for investment de-
.nss on his ability 10 secure the property 20 sat
,sev not only his purse. but his wants as well
CHANGED CONDITIONS IN BOROUGH.
IN 70 a few years ago the interest in Brooklyn
., srrh purchasers centred in the Eill. st. Marks
- BEDFORD -Stuyvesant sections. Moderate priced
sslf,es the cost Of which did not exceed S. 00O
- 10 be had without much difficulty. but more
-s,ently conditions have changed. The demand has
-sr,oyed most Of these properties from the sales
80 ~ brokers operators and the large corporate
buvers-the last named an unknown factor in the
,o,t1yn real estate market up 10 three years ago
,,,g-t llp every available parcel OF cheap private
-.-,Se,oe holdings offered by brokers and in the
.Tct,o. rooms. and held them investment for
~ revenue productiveness 10 support other deal
,ne Of 2 purely speculative character.
THE Individual home owner has developed
strength and drmness abated only IN rare cases
~, ,rcertive 10 part with his holdings now. when
=. cbance OF buying another home in the older
.-ss of Brooklyn is slim. would generally mean
=. ,p5Bcing offer which might be warranted If
.r,n-oveneuts Were projected. but which otherwise
-. 5vs1lr- itself would hardly warrant The
r.-ges conditions as regards properties OF this
els-s,ter are reflected in the auction rooms where
s,-Derlv the lists Of daily offerings contained
- --i,-s-e dwellings. In the last year or two
= midget Of sales has been gradually falling on,
- a. rresent the lists Of foreclosure and volun-
~ lies are almost - per cent less extensive
thar they were Two years ago
s,r.77, INVESTOR GOES TO SUBURBS.
-bs demand has, however. altered 10 suit the
.L.r,as conditions Of the market. The small IN
@ s,soo,,raged by the quest for a home within
.,z means il the confines OF the older wards mas
s-,s-es 10 the outlying sections. with the result
,bst suburban developers have frequently found II
,-,,ossFble 10 satisfy the demand In Bath Beach,
7srsornurst Bay Ridge, and particularly through
y+ south BROOKLYN along the route OF the proposed
tt-eve funnel operations are now IN progress
. ,ti.b viii rlace on the market hundreds Of new
Dwelling houses when the spring season opens
Jusr1ng from the extent of the filings in the local
Bureau OF Buildings IN the last fortnight and the
extensive plans reported of projected improvements
the current year gives promise of equalling the
record of the year 1894 as regards the amount OF
new construction work begun. The centre OF
building operations viii, Of course shift from the
sections most active last year. In the oth Ward
% o I % sfrcf1,res IS We're erected in the last
fEelve months The Ieverish activity OF specula-
tior there has abated and building operations have
wards are however. already showing signs Of IN
usual activity. and the moderate amount or nhngS
IN the Brownsville sections VIII no ooubt pe on
set by the hesyy eo9strco99 y work dt IN 14e stS Hf%
sections. Of which there IS already an earnest
SUBURBS GETTING THE IMPROVEMENTS.
While the total of the building operations in
Prooklvn in the year 1903 have been the heaviest
On record. il has been frequently remarked that
the suburban sections have been the centres
Sl5sre StS eboD5 the excellent state Of the rent
ing market practically assures the financial sue
cess Of construction work, particularly on apart
ment properties which could be placed on the
market at moderate rentals. The renting seasons
of the last few years have demonstrated the
weeks viii again make the problem Of supply and
demand one Of vital importance.
IN the EiIl section work Will soon be in progress
on at least one important project in apartment
cured sizes On hotb sides OF ST. lanes Place near
FultCn-st. for several modern buildings Of that
now occupying the properties viii be begun imme-
diateiy several OF tha buildings will OCCUPY the
81. James Place frontage Of the Maxwell property.
which vas recently sold at auction. When COM
pletec the structures viii furnish housing for at
least seventy families.
The transactions reported in average week at
The present tine include holdings of almost every
description The broadening demand embraces
private dwelling houses Of the better grade and
apartment properties il all residential sections and
he spectacu1r trading which serves 10 draw atten-
1on 70 TIE market is not wanting. Most OF the
deals which may be placed under the latter classi-
healon have been effected in the department store
section ot Eultou-st The sale Of the buildings Nos
40 and AS Futon-st., corner OF Hoyt-st, for the
estate Of Lucy 7. Wheeler 10 Congressman g. J.
smith q member Of the firm Of Acker, MeTrall a.
Londt Tor $4,000. established 4 record price Tor
tuiton-st- frcltages. The transactions involving
ne four story brick and stone building No 454
fLlton-st were also noteworthy as an Instance OF
enhanced values The property was bought by
James Cassidy. r.. from the Realty Associates for
&e1tA About three years ago the same premises
were sold by Mr. Cassdy's father the late James
cassidy, 10 The present sellers for $4,000.