The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-05-22
THT REAL ESTATE MARKET
PLENTY o. CAPITAL OFFERED
FOR INVESTMENT.

u d Gems NSalniy Into lilgh Prirea nealty,
However. and the sale q small
noldlngs h Limited 6sme Rmects %
Ahti.liambllng aud OJher ReGOrus.
The brokerage news reported last week
emhraoed q number Of important trans
actions. These were concerned for the
most part with property In the midtown
Wholesale and retail section. the fash
ionqhle residence quarter sast Of Central
Park and the high class apartment hOuss
district on the West Side.
A week in which half a dozen salea
involving anywhere rom $4,000 20
q. 10000 each are put through can
hardy be regarded a. disappointing
with respect 20 tho volume 81 capitol
seeking investment Indeed. the mort
gage loan statistics sud the statistics
.Ol plans filed for now construction. a. well
a. the brokerage news, testified 20 ths
continued presenCe 81 large funds avail
able For use IN the real estate market
Current interest rates furnish evidence
n the sams ehect. the prevailing rate
on loans secured by improved Manhattan
realty being ~ per cent.
Nevertheless Observers Of the market
are not altogether SATISFIED with the out
look. The reason u that the trading
shows very little tendency toward eTpan-
son in new directions. Dealing In high
priced realty. even u Il had not con-
tinued now uninterripsedly. though with
saasonahle fluctuations. for upward 81
a year and a half. would normally decline
with the approach Of the midyear SEASON
h Il hardly likely 20 persist IN a notable
scale much beyond the present month.
and a. q matter Of fact it has already
begun % decline Meanwhile there arp
few signs q a revival Of activity in prnp-
erty Of moderate cost-hats. tenements
and retail stores Od the main shopping
thoroughfares.
Labor b quits Renerally employed.
Immigration u increasing and conditions
sem ~ point 20 a reEeWal Of trading m
the leEs expensive grades Of property.
A. yet, however. no well defined move
ment o. this sort has appeared, although
some reoent auction offerings on the lower
East Side. for example, have met with
MlAI AAllllEu HNHNlWAs AUH HNlnNIlI TOT
the average run Of property Indicated by
scattered auction sales has not been un-
uaistakabsy reflected IN the brokerage
news
still. there IL some reason 20 believe
that the situation on the lower Fast Side
Il favorable to a resumption Of building
II any degree Of activity IL developed
there il viii u course react on other work
ing class neighbOrhoods. A building
movement always dislodges a cartain
number % tenants. a process which IN
creaees the rental and Investment value
% property % the same nature elsewhere,
There i a good deal d Antiauatsd
housing east q the bowPry and south Of
Fourteenth street which has drawn its
income directly or indirectly from the
ned light. racetrack and other elements
% the sporting population. This popu-
ation = Decreasing IN number and the
demand for shady restaurants, Raines
aw saloona and Odd dwellings, exempt
from tho provisions Of the tenement
house law a. y. immoral uses Il declining.
The earning capacity q gloh property
has gone down RAPIDLY Ia the last year. and
the result II that owners are being foFued
10 consider the reimprovement Of sites.
just what sort d buildings VII b.
erected 10 not quite clear. but tl1 believed
that business constructions vii form a
largo share q the neN housing.
Ihe characterization u the real estate
narlrst which has been given IN the fore
gong has special references % Manhattan.
IN the outlying borOughs the trading IL
alsO ~ a Kind that " encouraged by a
large supply Of capital offered ~ low rates
e interest building 10 active and there
IL a good deal u Investment buying. The
small buyer 10 q more important factor
Just now In the outlying bOroughs than In
Manhattan chiefly for the reason that out
side Manhattan be- may buy on the install
ment plan A. no time probably in the
history % this town has Il been possible
Tor ths man VI small means 90 acquire a
home az q cost ~ lON and on terms ~
favorable AZ nov.