New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1919-10-12
High Rentals and Building stoppage
Have Made Local Market TREASURES
House for Those Who Know How
to Buy-Profits as High as
sl,O0o,OOo Made Recently
i'm New York

I numbers among the real estate snecu-
lators OF to-day. The small store
keeper is taking keen interest in
real estate.
reports of realty transactions from
brokerage Offices contain the names nj
men IN every walk of life-manufact-
lreEa' executives, bank officials. stock
brokers, steamship operators, public
utility owners and the like There was
never time in the history of real
estate when the trading had such
strong and representative support as
nov" The ranks Of the buying army
has steadily increased as the specula-
tive opportunities offered by the real
estate field have been forced on folks
by the violent upward movement of
rentals Tor commercial and residential
realty. This growing army of traders
Is entering the field certain that il
VIII be years before the highly specu-
iatlVe features of real estate will have
been removed.
For three years building has been
| practically at standstill For sew
eral years previous to this compara-
livery little construction was permitted
oy mortgage interests, which for self
lsh but justifiable reasons would not
support new building projects. All the
,ime New York was growing, crowding
the housing facilities Of the city. The
consequence was situation unpar-
aIleled in the history O. New York
City, situation which makes for high
real estate rentals and fee values.
New Price Levels
Prices have already reached point
which IN many sections of the CITY has
never been attained before AS the
cause Of this condition is apparently
as far from solution as a wear ago if
- logical to assume that the real
estate values of to-day, even though
unprecedented, will go higher. Rea-
sonlng along these lines, the army of
buyers IS growing; SO also is the de-
mand for property, which has stifrened
the backbone Of old owners and en-
couraged the prospector or spcculator
to pay prices which would have been
considered the height of folly for one
TO even consider twelve months ago
Properties which some Of tho shrewd.
est Of operators turned down as no
bargains back in February and March
are now being bought by them and at
prices which indicate profits to others
Every section has been exploited and
market has been developed for everv
class of property, with the possible ex-
caption OF the poorest type of tcne-
fnent. Office buildings, ancient and
fnocern; lofts, commercial structures
i"cVories, apartments, dwellings,, sub
aroan homes, building sites and water
front land have all been traded in ex-
'e"s'Vely since the armistice was
signed last November. 1t is safe tn
say there has not been a turn Of rca,
estate during these months that has
not brought profit to the seller unless
the transaction was forced ono ,nd
the seller had no control Of the sitna-
ton.
Just now loft buildings hold the HIGH
place in the interest Of buyers, This
Is a development Of the last few
months and is based on the fact that
commercial New York Is greater than
ever and tho number Of concerns seek
ing placement here has placed a pre-
MUM on loft space. One dollar foot
is readily paid for space which would
not bring more than 40 cents two yenrs
ngo. The dollar n foot mark has been
passed in many buildings. and the
prophecy Is made that ordinary loft