New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-01-03
Now Is Opportune Time
to Buy in Borough,
Many Say.
SITUATION IN
SECTION ANALYZED
Big Advance in Values Expected
in Many Parts of
District.

estate out4NNh 100 bANNNtS " ava 't'N ''N w
year. now on, when seen by a reporter
IF The Tribune.
Most OF them believe the market has
seen its worst condition n the last few
months, chiefly due 90 the war, and
they are Of the opinion that brighter
days are 81 hand.
The fastening 20 completion Of the
great rapid transit Improvements now
going on In Brooklyn will be OF the
greatest benefit 20 the borough the
directors agree. Less taxation burdens
and reverse legislation concerning
realty are what they hope for.
Their opinions Of the real estate out
look in Brooklyn for 1915 follow;
George II. Gray:
"Whle pessimism has prevailed IN
a general form for some time in the
realty market and the volume OF IN
dividual transactions has diminished, l
am Of the opinion that underlying con
ditions have oeen steadily improving,
and that 1915 will be a justly pros
porous year Cor real estate.
when all is considered real estate
in the Borough Of Brooklyn has not
rufFered so severely from the effects o.
the depression and general financial
us believe. With few exceptions, mort
gage money has been available for
general demands and for a limited
amount Of new construction IN the
more central parts Of the borough. II
is true that q general policy Of con
servatism has been prominent among
the loaning institutions toward any
large amount Of new construction that
might nave a tendency 10 create over
production. The effect of this policy
las diminished, 10 some extent the
demand for vacant land, but IN the
long run il is for the best. Rental
conditions in Brooklyn have been gen
orally good. and this ] attribute 10 the
prospects of better transportation.
Land values i'm many instances have
increased and a limited amount Of new
construction has been steadily gong on
in many locations, especially along the
lines Of new transit, and this neld Is
bound 10 broaden and make big gains
in the next year.
ITO my mind. the only real great
cause for uneasiness in the future lies
In the steadily increasing tax budget,
and something must be done by the city
officials 20 decrease the tax rate on rea!
estate; but with proper governmental
intrenchment Of public expenses hrm-
Is believe that this condition VIII ad-
just itself in the very near future by
the greater increase in land values and
By the larger amount OF new eonstrue-
ton that is bound 10 follow IN me re-
gions of new and more efficient trans.
portation, Of which the Borough OF
Brooklyn will have the lions share.
The growth in population Of the
80 - rnmFDnnn
coming on at very rapid rate, and the
values here now are at q very low ebO.
Do not stand by and watch the tide
rise. but come in and rise with the
tide"
Thomas Hovenden: ...
Brooklyn real estate, in keeping with
all securities. has passed through d dul
Deriod. and while that condition still
obtains. due 20 the stagnation OF prac-
tically every business IN this country,
there would surely seem 20 be better
times coming 20 the investor IN real es-
tate here. The shrinkage in real estate
values has surely been far less than
the shrinkage in practicl v every other
security dealt in throughout the coun-
try. 49,.
and less legislation vii! enable people
of large or small means 70 realize that
capital must be invested, and when the
atmosphere becomes clarified enough 70
permit Of investors realizing that
Brooklyn is fast approaching the solu-
ton Of her transit problems desire
20 participate in the certain enhance
meat I'm values here is assured, and
that condition will mean better busi-
ntss and upon a sure basis, for Brook
Iva has not suffered from inflated val
ues, and this is one Of the reasons why
values have practically maintained
their own through the abnormally dull
times obtaining for so many months.
u am a believer in Brooklyn real
estate and an optimistic Gs 70 the tut
ure here
David Porter:
at might seem too optimistic 70 pre-
Sict q bright outlook for the real estate
market in Brooklyn in the year now on
u view Of the somewhat dull market
In 1914, but ! think on reflection 20
expect at least q fair market is not
optimistic, but what we may fairly look
at is always q poor thing 20 profit
By the troubles and misfortunes OF
others / refer, Of course, 70 the Ia
inevitable war in Europe. But nasmuch
either it's start or continuance, that
phsse of the question need not concern
Us What in my judgment IS sure 20
be the result of this terrible conflict
rs an era Of unbOunded prosperity Tor
this country. Our exports are bound
20 increase. inesmuch as some or our
keenest competitors are putting them
selves practically out Of business II
/ am right in this assumption, and |
think ! am, IL is sure 20 have ITS erect
upon real estate. For need ] say that
when the general business OF the coun-
try is prosperous a good real estate
market follows And, given good real
estate market, Brooklyn is sure 10 come
In for a lions share, and why
"Hitherto Brooklyn real estate val
ues have been away below values IN
Aianhattan-and still are-O refer IN
this case particularly to residential
property, the reason being that transit
facilities 90 and from the business
sections Of Manhattan were poor; but
all this is being changed, subways arc
being built that will carry residents OF
BROOKLYN 90 the best business sections
of Manhattan for a single fare. me
trouble is that the work on these SUD
ways is so slow; if this work were IN
the hands Of private corporation
would proceed with twice the speed, as
is evidenced by the work that IS being
done at present on the Sea Beach Line
10 Concy Island by the New YORK
Railroad Company.
"But even az this slow pace they are
hound 20 be finished some time, and
wben they are we will see values
mount 10 a different basis than that OF
tbe present time, which in my opinion
is below par. In the mean time, be
i;eye sbrewd spectators will soon be-
Gin 10 take advantage Of the oppor,,
tunity TO make money, and IT would
not surprise me 10 see a strong brook-
lvn real estate market in the not very