New-York tribune., 1908-03-01
REAL ESTATE OUTLOOK BRIGHT
LARGER DEMAND FOR INVESTMENT AND SPECU-
L4TIVE P1RCELS.
auction Sale of rght Estate Parcels Feature of the WeeSera
Important Brokerage Transactions 1fso Reported

Ismsn bought the property last year from the An
drews estate. Another large transaction was the
purchase by Max Marx from Patrick McMorrow,
of six story elevator apartment house, on
a plot 100xleO feet at the northeast OF
15oth street and Broadway Mr.. Marx gave in part
payment parcel 50X100 feet at the southeast cor
of 10th street and Amsterdam avenue. to-
gether with two other parcels. Still another in
teresting deal lease negotiated by William
Cruikshanks Sons for the Rhinelander Real Es-
tate Company to f. 4. Cauchois & Co, Of the
premises No q to p Fulton street northeast cor
OF Water street, three five story brick build
ings. irregular plot e22 feet in Fulton street
by 2Slx95x2i 2x72N52.6 feet in Water street. The
lease is for term of twenty-one years at a net
rental aggregating about $4,000.
In the last issue of THE Real Estate Record
and Guide is article by Alfred NJ Rau on
Manhattan Dwellings investment" The
article is follows:
Above all, this class of property is growing
scarcer each year. The advance in land values in
The heart OF the city is increasing so that private
dwellings, Of expensive construction are being torn
Which being erected in their place. the plot
s t0I u%i91Ss @ iuI]poS, ] fiit fGt uS "a cd
clre desirable private dwelling.
that during the last fiscal year less than fifty
dWe.linss have been erected ON the entire island
The tenant who is seeking one has fewer to
choose from. and consequently must pay nearer the
The houses still in existence in good sections are
bringing larger returns on the investment than
being added 10 the lot value for the building when
purchasing private house, the structure itself is
Practically considered as being of no value.
Ihere are numerous reasons why people should
invest in private dwellings. 1t easier foT
owner without experience control private
house than it IS for him to fat. 1t is easier
for the owner to collect one rental than twenty,
which he would have to do in either a business
property or apartment house In nine
out of ten the to-day makes repairs
private dwellings,, the tenant realizing that
the entire running Of house rented by him must
be borne by him. The municipal departments do
not bother the owner or the tenant OF private
hCnSpS their being stringent
this class of property than on any improved realty
In the city. 1t is far easier place mortgages
dwellings than commodity mercantile build
iEgs. and. above all. the net return is fully
large and to-day in the heart of the city IS
greater, than the return from apartment busi-
buildings
The sale of a private dwelling IS easier matter
to accomplish than the sale of apartment
business building.
The return from these houses is indicated by an
example of private dwellings, in the vicinity OF
Empire Square, where the possibilities for advance
nlent Of ValueS great in any other
ton of the city, and where 1foot four story houses
are quickly taken up on rental Of $3.50 year,
the tenant paying water and all repairs, where in
1906 the same houses leased for S.5o0 q year and