The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-11
THE REAL ESTATE MARKET.
TRADING rs NOW DISTRIBUTED
OVER THE ENTIRE CITY.
Tesements Built Before the Boom Are in
GOod Demand-Fewer Mulu.faInily
Houses Now, Being Bulit-HOw This
Years Building Is Progressing.

Years Building Is Progressing.
A remarkable volume OF business ives
reported by real estate brokers last week.
The daily average Of sales made public was
over fifty in Manhattan alone, or more than
800 for the entire week. The current de-
mand for real estate affects the entire city,
and Ii perhaps quite as marked, II not more
60, in the suburbs. East of Central Park
between Fifty-ninth street and Carnegie
Hill and beyond Lexington avenue dozens
Of dwellings ave changed hands in the
past few days. Practically the same con-
diotions obtain on the upper West Side, whore
the demand is not confined to old houses,
but affects properties only recently COM
pleted. Last week several elevator apart
ment houses also figured in the brokerage
reports.
Below Chambers street there is just now
nothing like the extensive purchasing Of
highgrade real estate that developed TIVE
or three weeks ago. The one important
transaction was the sale Of Lords Court,
at William street and Exchange place .
However, there is a FATHER wider inquiry
for medium priced properties on the out
skirts Of the financial district (which now
must be accepted as including the entire
territory south Of Fulton street.
The current market, as a whole. plainly
reflects a condition Of unusual prosperity.
Business properties are paying good re-
scarce, and in the nature of things can
not be multiplied to any appreciable ex-
tent. High grade apartment buildings are
we'll tenanted, largely because their mum.
ber. has not been very greatly increased
Ia the past two or three years.
, In the tenement districts, however, it %
apparent that a remarkable amount OF
speculative trading is in progress. Inex-
penSive and middle grade residence proper
ties are being dealt in very extensively.
But the Manhattan attention Of profess
sionals who three or four months ago were
purchasing flats n tenements In course
Of construction is now largely turned in
the direction of old law t~enernents, which
after slight alterations, bring nearly as
at much. greater cost. In the meantime
it il obvious that in spite Of this great &C.
tivity in the tenement districts the shrink
age in mortgage loans, which became APP
parent soon after the mortgage tax Law
went into effect last July, Is now quite
marked.
p The plans filed with the bureau Of build
ngs for January and February this year
show that there has been IN appreciable
falling OF in tenement construction in the
latter month. In January plans were filed
for n~inety-nine tenements, to cost o. $50, 500
The number corresponds with that fol
january, 1905. Last month plans were
flee for" seventy-four tenements, to cost
50, z67, 900, a falling of of about rs per cent
The greatest falling off in tenement con
struction was on Washington Heights and
between Fifty-ninth and 10th streets
west Of the Park. In the former territory
thifty-thfee tenements were planned in
January and only seventeen last month
In the latter eleven we're planned in Jan
uary. and non in February. In the whole
territory on the West Side, from the Bat
tory to Fifty-ninth street, no new tene-
ments have been planned 80 far this year.
The falling of in tenement construction
may be only temporary. 1t is partially
explained by the mortgage tax law. which
has increased the interest rate and made
loans for tenement house operations. I'M
doubtedly, however, it is to a greater eI,
tent due to the fact that last year tene-
ments were built to accommodate q far
larger number Of persons than the increase
in population warranted.
The following tables show the distribu'
ton Of all Glasses OF construction for Man
haitian for which plans have been filed sc
far this year:
BATTERY TO cHAMBERs srRERr, IAsT OF BROADWAY
Buildings: No. TT. Coni
once. ..,..... Sb1O.OV(
bATTEKT TO CHAMBERS STREET. WET OF BROADWAY
once, - tSuO,oO
CHAMBERS TO FOURTEENTH sTARKT. EAsT OF BROAD
WAY.
onee 5000
, Joits : 5000
nements, Sb7, 90,
Stables. ,..'.'..''''-''''''' S0!U
Outhouskb, h, Sz'W
sNnlala. RASlIt ~