New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-16
Experts Prominent in Va
rious Spheres of Market
Now Optimistic.
THREE SPECIALISTS
DISCUSS SITUATION
Rental Conditions in Some Parts
of the Greater City Reported
To Be Better than Good.

II is the opinion Of many we'll known
real estate owners. brokers. operators
and builders that the outlook for realty
trading in the present fall and the
coming winter season is more favor
able than il was few weeks ago. The
views Of Charles Griffith Moses. vice
president of the J. ROmaine Brown
Company: Herbert A. Sherman and J.
Clarence Davies on this important sub
ject, the realty perspective, are here
with given:
Charles Griffith Moses says: at
seems TO me that We have reached the
low ebh of realty dealings. and that the
fall and winter seasons VIII show con-
siderable improvement IN conditions.
While I do not look for a very active
market. | think that there will he
quite some dealing as soon as money
for mortgage loans can be obtained
more easily. The savings banks Will
have plenty Of money for good mort
cages, but cannot make loans until the
siNty-day notices for Withdrawals are
all taken care Of, and without the tacll-
tiles for obtaining mortgage money 1t
is difficult 10 do much selling.
"From present indications the CHEZ
market will be a trading one --eX-
changes of old or unimproved prop
critics for modern, income producing
buildings, especially where some cash
can be added if the unimproved prop
erty is not free and clear.
Apartment renting conditions IN
some parts of the city have been very
good this fall, and in view Of this
look for quite a good sale and good eN-
changes of such houses as arc IN good
shane and producing substantial re-
turns. -,
at is not likely that there will be
much new construction work as far as
business or loft buildings arc con-
cerned, except for special purposes, but
moderate priced apartments have
rented so well notably IN the upper
West Side, Washington Heights and
Dvckman sections, that 1t is quite
likely that there will be some little
building of this character OF houses
during the coming season.
Herbert A. Sherman says: "Keal es-
tate. like all other markets. has had a
knockout blow from the war. | see no
reason. however. why values should
not remain stable. except where prop
erty is under a heavy mortgage and
owners arc unable TO pay interest ana
Sayes. In such cases mortgages are
obliged 10 foreclose. but ] think IN no
other event arc mortgages likely 10 De
called in these times. These lore
closures do not by any means make
market values. Mortgages should be
and are lenient in consideration OF the
unprecedented circumstances.
an a WAY the market is being helped
nv the large arrivals from Europe oil
people who have not been here Tor
Gears and who will probably take up
their permanent residence here as inc
ruin aud desolation OF the war VIII
make Europe an unpleasant place .o-
american tourists for many years. Our
friends from the West will come to the
Paris and London of the American Con-
tinent. which. as every one knows rs
New/York. Many people who would
otherwise 60 abroad or take WINTER
cruises will conclude to sec America
brst This will tend to fill up the
Kew York hotels and furnished and
nnfurnished houses and apartments.
Rome of the people who come VIII De
SO fascinated that they Will rnvesS
here. and the business revival thaV
NAV be expected when we ,oegln 20
thip foodstuffs to Europe, whlch VIII
have to be done in large quantities
will have it's effect on real estate as
we'll as OF other interests.
I Clarence Davies says: ION July
ca last an unexpected and stunning
SIow was delivered to industrial con
Sitions in the United States by the
declaration Of war by the great Euro
sTbis. speaking metaphorically,
<nocked financial conditions tempo
rarily senseless. We are now com
.nencing TO recover our senses ana are
GRADUALLY getting back to normal con
s;t;ons' Every day sees some improve
meut. D,os+
..cui;sr position. The basic value OF
XII real estate is in the rental 1t pays;
which. of course, means good or bad
"The rental conditions in The Bronx
At the present time in tenements ahd
APARTMENT houses have never been PEE