New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-06

such lenders. It expects to continue the great re-
building movements which were begun some months
ago and which have been somewhat retarded,
owing 70 money contSions
~sere never was 4 time in the history Of the city
WHOM Manhattan and Bronx real estate was on
such splendid paying basis when 1t was such a
Giffc,lt matter 70 ind Improbable realty In
vestil-nt and VIXEN here were so many operators
and saecuIators seeking 20 become prominently
1deatiGed with real trading but could not.
for tile simple reason that they not strong
enough financially. Throughout the entire city
taece are only about two districts where some fiat
hose builders threatened with failure owing TO
fa Inability to get tenants for their houses They
:I- in the newer fathouse sections in the upper
part n Manhattan Island and The Bronx Even in
those sections renting conditions have recently i'm
proved and by next spring the supply of iathOuses
is expected TO be smaller than the demand In
the older residential districts of the city brokers
have had hard time to meet the demands for
suites in apartment houses and hotels, according TO
reports from builders and brokerage firms. These
reports have been confirmed by most careful
animation of the renting situation.
Here and there some owners of improved property
have offered their property for sale at a sum less
than they would have taken for their holdings last
fail But these instances have been few as to
attract unusual attention. The majority Of owners
firmly holding their property at what they con-
slider to be its true worth and not its market value
az a time when realty loans are hard TO get 1t
should not be forgotten that some recent sales of
property have established record prices for Ger
tain sections and that the general trend of values
is upward.
Indeed. the real estate situation is unusual when
an owner OF a high class West Side apartment
house netting him yearly return from his invest
ment Of per cent cannot find many buyers with
the necessary cash to take over his apartment
house. Well, that owner is going sell at a
sacrifice. He wait for a quick market He
can wait long time for a quick market and he
VIII not worry while he is waiting Strin-
2ency CT money does not make realty owners pan
.cky, but widespread business depression curtail-
ing the earning power Of the masses and result
ing IN lower rentals for stores. apartment no.
houses and for Offices All things considered the
real estate market has got this year a remarkably
large share Of money further realty sales or
building projects
The total OF the mortgage loans this year
IS greater than for the corresponding months Of
any other year in the history the city
with the exception OF three years. name
ly last year. 1905 and 1899 Still, brokers
overwhelmed with applications for loans.
they have lost many prospective buyers be-
cause Of money conditions and IL money was
eazier they could help Of builders 10 perfect
construction projects. Because of this urgent de-
have already borrowed for clients more than 1923
oo90 900. an amazingly large in a tight money
market and a princeIy sum in any ordinary realty
year. No matter whether or not borrowers paid
8. tiz or per cent and big bonus for that s323
ooo.ooo, the total of the loans shows what con-
hdsnce lenders have in the stability OF real estate
trading.
The mortgage tables for Manhattan and The
Bronx for the last ten years as follows: