New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-15
MANY Leaders Predict
Better Times-OtherS
PessimiStic.

There is a wide difference Of opinion
in the real estate market as TO the
prospect for a good volume Of bus
mess the coming fall in the rental and
| brokerage spheres. Usually in unset
| tied periods the majority Of views on
| the market outlook will be similar IN
tone. So il should be no cause for
/ wonderment now 10 find the leading
/ experts of the market of the greater
/ city with divergent opinions on the
| business that will probably be done IN
! the fall.
Louis V. Bright, president of the
| Lawyers Title and T"ust Company
| saws the situation is We much better
| than it was some months ago; Douglas
/ L. Gilman is very optimistic as TO the
| fall apartment house rental season.;
/ Harry Stewart Hall finds the outlook
I for the brokerage end of the market
disappointing; f. A. Tredwell. former
president of the Real Estate Board Of
Brokers, characterizes the market as
thin and watery; Herbert A. Sherman
expects leasing to be satisfactory, and
| Charles F. NOyes expresses very CHEEKY
words.
Douglas L. Gilman has this to say
on apartment house rentals this COM
ing fall:
81 am very optimistic as TO the fall
apartment house situation and have
never seen the new buildings placed
on the market in any year rented a s
well as those which we have aad TO
handle this year
Il expect any minute TO hear that
the last one of the twenty-five apart
ments in one building oil Park Avenue
IS rented, which, considering that the
rentals range around $1,000, is a rec
ord for the East Side.
Across the way, on the southeast
corner of 54th st. and Park av., there
are but two Of the thirty-seven apart
ments remaining, and in 45 East 62d
St, adjoining the new Colony Club,
there is but one left, and so on
through the list.
The older buildings are also profit
ing by the unusual demand, and look
for real scarcity this fall, when the
greatest number of renters come to
son for this year opened very early
and continued strong through the
months which are usually dormant,
through the dog days closing leases
in the various buildings. OF course,
with this inherent strength in the
market, there is no reason for cOnces-
sions and rents are firmer and higher
than for many years.
Unless there is a decided change
and the market is overbuilt. | expect
these conditions will continue"
Harry Stewart Hall, Of y. Brigham
Hall & William d. Bloodgood, Inc,
says regarding realty tendencies:
THE outlook for the real estate mar
ket for the coming autumn is, in my
opinion, disappointing. Last fall, after
the outbreak of the war, il seemed as
II that alone had put a quie:us on
what had been a promising outlook,
and that eventually we would work
away from the influence of affairs in
Europe.
1T must be admitted that the past
few months have developed some ex-
tremely large transactions, notable
ones in every way, that would do credit
to any market, but the days of any
breadth TO a market, any ability to in
terest the smaller purchaser in attract
i've propositions, seem TO have passed,
let US hope temporarily.
Some remarkable bargains have
been obtained in the auction room, and
by whom in practically every in
stance by the mortgage. The outside
buyer seems 20 be unknown to-day, and
possibly the lure of the so-called war
stocks has attracted mis- funds. Large
sums Of mortgage loan money seem TO
be obtainable only by forcing on the
borrower a number of undesirable and
usually unproductive properties taken
under foreclosure-by no means a
healthy condition.
Rental demand along certain lines