The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-05

md income, from property returned to
n. p1u' where investors Will be at
acted Any good that IL to come, how
GOV must await the absorption of the
,,esert great supply OF space, which
A, hardly be- expected until some time
ner the .uuntry has resumed It's nor
,sI business pace. When that will be
I, as easily guessed by one as by an
,'Ner
some mcu known over the country
%, sbrovd Investors have taken the pres
,st depression AZ an opportunity to load
~ WIKI GHe properties. ami in doing
n they have pointed out n path which
,,ore conservative people might we'll
,o,,ow W. Ind among the buyers of
\. last six months the names OF such
,sn NJ Hohor' u. Dula, Lawrence c.
ph,pps Benjamin y. Duke, Clarence
rayre. Herbert Du Puy and George II.
sim. Thc'- purchases have been lin
I'd largely 20 the more expensive apart
peu,s and hotels of the upper West
SIDE bit there have been others who
ave takeu OVER loft and office prop
.-,es. store buildings and theatres. Not
Few Investors have accumulated hold
'es IN private dwelling sections where
,oartrno7t houses are almost sure 70
one within a short time. Buying at
resent day valuations. these people
re In position 20 make such profits a.
r.re reported before the collapse OF the
.,,ent boom. They have simply followed
n. old business adage TO buy when
4, other fellow is selling. and they will
Al IN a few years probably, when the
,her fellow wants to buy and will pay
hem b!g profits.
rhese men whose names have APP
peared IN the newspapers during the
AZ few months as buyers OF big prop
tiles are looked upon the world over
d, successful business men. They have
zen the rise and fall OF values In their
.srlous interests and they know that
he wheel OK progress never stops. Bust
aess IL Ike the hills ard valleys and
hey know that the deeper the valley
he greater will be the rise beyond. They
ave seen real estate IN the deepest val
~ IN forty wears. but they are stalking
heir wealth that Il will strike the as
snt soon and will mount TO one OF the
lishest hlls
In the beginning ot this story u was
aid tia: there had been bright spots
n The real estate market OF tho last
II months. and there have been. Just
low the city has seen a speculative
movement long Park avenue in the
, PIPER apartment house section. This Is
10 result Of ;hc successful termina lion
I other operations along the same
rect In the Dyckman section thsre
as been a building boom based on the
.lcceSsful selling of many of the apart
,nent houses erected there within the
st eighteen months. On the middle
Vest side the new printing trades sec
.on has been more firmly established
trough the Improvement OF number
2 large plots with high class modern
,ulllugs which have found tenants
ven before some ~ them were com
retcd In the vicinity OF the Grand
entral Terminal there has been n
steady growth OF 4 healthy nature which
promises - continue until that district
las been entirely reclaimed for office
nd business purposes. on Washington
Heights whole blocks have been taken
over by operators and resold 10 builders
r'-h loaul az a result of fairly active
Investment buying Of well ren>~d apart
nen,s In the Fifth avenue shopping
secton steady progress has been made
ne more notable events being the ar
,sngemruts TO remove either on or near
ne avenue by the Rogers Poet Com
ANY. Brooks Bros. Cammeyer and
Slater and the enlargement OF the store
z Franklin simon Il Co. Then OF
,ourse tho extensive buying OF high
,ass apartments on the middle West
SIDE nv men Of great means already
IN
ST.
These have been the active sections,
aad the transactions in them have
sdyed tar realty market from becoming
commonplace The volume OF business
has been comparatively small and from
hat fact the Inference is to be taken
I'M; llGu.dlt,on In real estate has been
more theoretical than actual. This con-
dillon hospcaks strong holding oil
property 1t indicates that, however
great reCeSsiOns in values have been
.gners are determined to see the pres
'' realiuS'mant TO the end before sac
-acing their properties Their faith
DO New York city is such that they
pnisor.'y expect return of high val
.ts and meanwhile whore buildings
trc wei rented they are satisfied &c
N aod for the incomes.
Outs.lr OF the selling branch or the
market thore have been few matters
wA!ch have affected business one way
O. another one Of the most important
Of the last SIX months was the KILLING
'o' the Herrick-S chaap bill, providing
!or reducing the tax on buildings tt
ons-half that on land. This measure
wa only set aside temporarily, pend
ne an Investigation by the city or I'M
Whole matter Of taxation. Undoubtedly
y VIII come up again. In the mean
while mon flttcd for the task are u
rudy tAe taxation problem, and 1t u
oped they WIN find a means OF proVid
~ the cry with sufficient money u
Hv all bills without further burdenini
'sal property
TIE mortgage situation has, o
curse lad considerable effect on m
''a''y ,r.,t, hut II Is doubtful If con
.ions would have been materially ar
.'7er. .1. f4e supply ~ cash for build
ny and operating purposes been create
nan Z, hn. been during the last 81
months Far long time there wa
en'r ~ money 4, 1Ia per cent 10
per9'' .". considered safe by the ltnd
.'g m."'t' 7as. Thcrc. wns little de
'and ing money az that rate, however
= mo leaders announced a reductio
o per cent. which brought compare
'ty o." more applicants. For nv
month '.o lower rate has been quoted
'u' ir -p'i' OF It this spring was III
h'Ncsi Jon many years with builders