New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-01
OWNERS HAVE
CAUSE TO SMILE
All Branches of Realty
Market in Better COndi-
ton than in 7 Years.
BY CHARLES F. MOVES.

Real estate in every branch Is in
better condition to-day than IL has
been for seven years. Better confidence
exists and property values have unde-
niably stiFened. Mortgage money is
easy and good loans can be procured.
Best Of all, renting in all neighbor-
hoods is brisk. with higher rentals
prevailing in many districts. There is
a better understanding between owners
and tenants with the various city and
state authorities having the enforce
ment of the new building and occu-
nancy laws, and in this regard the city
a. large owes Laurence Mcclure, presi-
dent OF the Real Estate Board, debt
OF gratitude that will be difficult 20
repay. It was he who Loyalty worked
az Albany. as we'll as at the City Hall,
% modify, make more reasonable and
% properly protect real estate owners
and tenants during the period just
passed. when most Of this legislation
was placed on the statute books. Know
ing conditions as probably no otner
one man understands them, Mr.. NC.
CURE successfully took up the cause OF
the realty interests, and he alone de-
serves largely the credit OF bringing
about the better understanding that
exists.
In the renting market conditions are
So much improved that they are unOe-
I;evable except 20 those who keep IN
active touch with the very up-to-min-,
ute conditions. / have never witnessed
such sudden reversal IN renting
conditions. Downtown stores ana
lof-s. where leases are usually made
onlv i'm February and May. are now
ranidlv renting. Office space IS hAing
nv ara many Of the better downtown
ofFce buildings are absolutely without
vorancies. Those who predicted dis
acter for certain new downtown once
buildings q few years ago, and VINO
keld of In making leases, hoping 10 get
lower rentals, are now forced 70 pay
Liohar figures. and are not able 20 get
tbe choice space selection that was
oFered when the buildings were
opened. 81 md
broadway. between Grand ana
pleecker Streets, has come back. ~ IS
not case of at IS coming DacA.
Pack II has come and the dou0tlng ones
have only 10 look around Tor ava Ia0 pr,
snace which does not exist. fractiCa4y
Iii desirable space in this belt mas peer
absorbed and there IS to-day less spa0e
oTered on Broadway, north OF IfaHt
Street. than az any time curing -"e
-. SO wears When the Broadway
subway is opened-less than two year.
Of rents in this section or Brosu"dy
will undoubtedly advance % per cyl.
because all Broadway needs 10 L-iiS
come into its own as far as ValIe -
concerned property ana re"'ai
transportation. ,..-. -. .o,.red
-, william Street from Maiden Lane
80 Eulton Street, was never IN
st-orger condition. Buildings are
all ard one or possibly two new
L,,T5ings must be erected during tne
ro,+ car 20 lookout for the actual de-
nand for additional space require,
-arts Fast Of william street ana
south OF the Bridge rentals are oeihg
increased and very little space Is o.
fered for rental. 49,
Another very favorable sign IS inc
;,.-oosi,g number Of cash buyers ina,
~ ao,,;ng into the market FOR real
~.o,ertv Investments. Many sales are
being made or negotiated ana lot ~.
Sc. time in several years real estate
can be sold on strictly Investment ines me.
for all cash. Prices, while SUI! iow y,
are getting better. and IL IS certaIn1Is
mat a great improvement has occurred
and that real estate is being netler re-
garded by our foremost appraisers anu
bv the real investors. ,,.,o,,
with an these favorable conditions
80 broker that does not reap harvest
- 80 commissions during the. next Few
% - uiii have only himself 20 blame
because eeaa property will not continue 70 to
Ell ~ these present low levels much
longer and rentals arc certain to DC
h sGgs with prosperity on every
hand there arc many buyers for well
located income property which Will nGt
he offered at present day prices mucn
longer.