The sun., 1905-09-24
THE REAL ESTATE MARKET.
DEALING IS OF GREAT VOLUME,
BUT on FAMILIAR LINES.
Increased Demand for Private Houses In
Many Sections Economic status OF
Current Speculative Trading-The Fu-
ture Of the Brunswick Hotel Site.

Extensive dealing in PROP critics OF cheaT
and middle grade, mainly in territories
which suIIly no, sing accor modations FOL
the city's teeming population, was the
distinctive characteristic OF last weeks rea
estate market. Trading Of this sort formed
about three-fourths Of the business req orted
and resembled, both in volume and detail
the activity Of the last few weeks. lite
most encouraging feature. however, was
undoub ubtedly the demand that develop ed
for middle grade and in few cases high
priced, private dwellings. That dwellings
would. for reasons already referred to in
this column attract the attention of large
number of buyers was con sidered one OF
the certain developments Of the season e
trading. 1t is all the more satisfactory
that the market is producing 30 many
purchasers, and these at a rather earlier
stage than was generally exrected.
The demand ia fairly general applying, in
about the order mentioned. to the territory
east and south Of Central Park, to the upper
West Side and to Washington Heights.
1t reflects, Of course, another phase Of the
shortage in housing accommodations SO
commonly expressed at present by the
dealing in multi-family houses and their
extensive production, both In Manhattan,
The Bronx and Brooklyn. And the fact
that the speculative element is quite fire.
uuently represented in the current dealing
in private residences merely emphasizes
the urgency of the need for this sort OF
accommodation, just as it does that for
tenements and flats. Not that speculative
interest in any particular section Of the city
or in any particular class of property
necessarily argues demand based on eco
nomic cro,,nds 1,,st now II does however.
- ,ho oaSa - tho tyo kinds of r,rr,. ,rtv
III N'o ,heo - '-'' WV o''|'' VI f'N ''
referred TO-
As a matter of fact this whole question
of the tremendous growth of speculative
intarest in real estate and the increase of
Nv -. ,h,t -. h,,-,;nas. - ,ha
the element liao lihlhes business Vi .Ne
in a short while at profit is one of
the ,no.t interesting phases of the real
aat,.a d,,..Iann,ant, % ,ha rast se,v Won ~
7, ~ of ereot acnnon;c imnortance for II
.'aho tt.;,s, .oi,, ,,,,t III, 80 - ~, -, -
t, ,,,a,e ;oI,,,na; III, T.; tba h,.;ne,.s us
.n,,tnnnitv nr ,ha n;tv hmt ,IItimataIv
tbnmih nSiraot,v tbot ur,at., n INV L1,oun
a. 49, r,,,,rs ''' - '' A''0 wa
n eo wouId 'be be Interesting 70 know inst how
eh s W. 40 ,,rra9t r,s d.aI,n Iu s
m iiubn b ., .r tad snr , &c aS,ans;nr IN
i,,.i., ~ Eo ond troan ,',d ~, ,n"raasa in
rnnula ion md how much bv me more
aaWti,ar, q ti,sJ n,ethod. tnat r,3lv to s,,nc,-
I.y,tiu,, ra In ~ cnnn,rad wf t,e ~ oG.
ns n cnmnarativev few Years AGO II ;s
49,; ~ - ,;o, III, in,nossi,a 70 d.tarne;na IT.
3mt = 'e f3ot rsmoina that whera nsy enan
ten vears ago real estats snecna tion was
,.',rr;ad nm bv relativeIv insign;ficant
,',n,,,ar 20 ;,di,iduols to,doy il i, :, az enI,y
and ,erv ~ ,iora ti,.e Mans nf sunnort ~
iarte body Of men The CORPORATION in
M A taty Ivy nro,inot ,,rantioaiip ~ t'n I,n ~
Ave- vsars, is a r1co rnized factor in realty
1lsa,ina 'rne 600 or zoo ;ncornora ted con,
cerna are s,nnlemented bv syndioates
oiinmss and III, annnnnt byvers II re,
al.dtI ,b an cI,1 tendenmv Of ,be n-.,s
ant time and t,e nresence ~ iarpa Sums
saek;np nroftahle emnloyment II !. trn.
es 1u,,,rla -. t1at tho necnl;ar oondtion,,
inherent in tIa M ,it;op and nro,ni ,anca
frnn, ali v;awnont: of New yark civ have
annnnragad = i. form of enternri 10. and Il
is not re he.wondered at nerhans tnat the
advantapes presentSd n hy the great denand
for raaItv for avarv ind of ,,ae hero in Vew
vnrL enould he t,irned to account
hIt wIlnout even imp.yInp that the
s,ann,ative dea inc of the nresent tim, ;s
Under the existing circumstances, overdone'
the fact remains that the method now So
ex,ensive'v 1@iv "n,n. ovad and recognizeG % as
n nernan nent feature Of hand inc reai estate
fapars haa vi,v an the User Of real estate ;n
whatever form And this fact loses none
of ito in,nortnnoe even when II is adn,itted
That ;nvastment buviny ia now done on n
than pfDra
and rn,Ist continue To- Increase and furnish
n wider fase for specuIatiye dea,inp
The sa,e Nv force ,osure of the Brnnswick
Hote site Fifth avenue .Twenty-sixth and
1'wentv-.,yenth streets. to the Brunsw,ck
Site COMPANY, the p,aintiff in the suit was
prot ably the most important single event
ri last week The property was Sold snh.
iect TO prior mortgages. interest &c.
amounting to 81 600 ,9O7. the defendant
Eeinp the Brunswick Construction Com
nanv' Competition Letween Royert +
p wing md tho plaintiffs REPRESENTATIVE |
carried the price TO s9O5 900 making tho |
total price s2.585. .9O7. The property sold |
was originally acquired at various times
et wcen 1901 and 1908 ty a syndcat q in which |
Char,es r. Barney was interested. It was |
to have been the site of a gigantic hotel |
with / 100 rooms and costing ~ 500 600. |
SUI seo,!ently it was turned over to the !
Brunswick Construction Company and onds /.
we're issued to cover the cost of the scheme, !
Last ,JuIy the Brunswick Site Compnny'
comprising the underwriters of the / ond !
issue, was Incorporated at Allany. and a |
few days .ater egan foreclosure proceed /
inGs against the p.aintifT in the suit lust
settled The directors Of the PURCHASING !
company are George Fl, Rol inson, q IoI'is !
Boisscvain, A. fred &. Evans, water Geer |