The New York herald., 1921-01-09

nized element in the trade and sale of
real estate and in the renting of apart
ments and buildings, look forward to the
ism. The consensus is that the new
year will see the establishment of
steadiness In rents, particularly in the
business sections, and more building at
a smaller cost.
Not since the war, when labor made
it's highest demands on the owner and
builder, has the outlook for increasing
New York's commercial centres offered
greater promise. according TO some of
these feminine experts. The labor Sit
uation is expected TO become stable
within the year. possibly within a few
months, and the metropolis will then
enter upon an active period of building.
The woman real estate broker is not
new factor in the property equation.
She has, in some instances, conducted
sales for a score of years. Her knowl-
edge of values and her foresight have
made for her sex a place in the realty
mart that is unassailable. Some of these
pioneers arrange exchanges that run
into the millions, and at least one num-
bers among her clients firm that oper-
ates chain of stores which is steadily
enlarging its business and is constantly
on the lookout for additional structural
links in this chain.
This Fair Broker Is Optimistic.
Miss Hannah Freud of 50 East Thirty
fourth street was one of the first of her
sex to enter the real estate field she
has put through many big deals and is
one of the most active as well as the
most reliable of the long list Of brokers,
both men and women.
"The 1921 prospect, so far as real
estate activities are concerned. is mar
vellous." declared Miss Freud. III we
ever get over our labor troubles. which
l feel sure will speedily be adjusted. we
will have the biggest real estate year in
long time. In fact, / look for the
greatest revival in real estate transfers
that we have ever had
There will be more building in 1921.
building CT dwellings, apartment houses
and business buildings. | feel most
sanSuine about the immediate future"
To the question as to the rise and fall
of rents. Miss Freud replied: The rents
of stores in high class sections will re-
main rs they are now. This / predict of
both the downtown district around Wall
street and the middle district. in Fifth
avenue, Broadway, in Thirty-fourth.
Forty-second and Fifty-seventh streets.
Rents of apartments and office buildings
In other districts may be reduced, but
there is not the slightest chance that
this reduction will extend TO the stores
in the preferred districts.
"I have twenty applications for stores
to one that 1 can really fill. and rents
seem exorbitant but the firms are we'll
ing to pay them. If there is a vacancy
to-day, caused by the expiration of
lease made five or ten years ago, you can
safely say that you can get 90 per cent.
more for the property than you could ten
years ago.
Recently rented a store on upper
Broadway. at $1,000 front foot. a few
years ago this same property brought
from 5000 to $500 a front foot. And
only "a few weeks ago ! rented for a
client store in Thirty-fourth street at
$50 a square foot. This is the highest
rent store in this district ever brought.
so far as | know.
That doesn't look as II rents would
drop, does it?" she asked. Miss Freud
handles exclusively office buildings and
stores, particularly downtown. People
are paying bonuses to get the space
they want" she stated. To-day ' am
negotiating for a building on Fifth
avenue above Forty-second street which
illustrates the increase OF business
rents. This building rented TO- 100000
about year ago. within a year the
rent jumped TO $4,000 a year. have
lease pending for that same property
for over $4,000 a year.
A Comparison Of Rental values.
1T have an offer OF $4,000 year
fo- a store in Forty-second street that
has a 80 foot frontage. II has
small basement and great depth. This
property two or three years ago I could
have secured a lease on for n 'ong
term at sl50.000 and the property
would not only have included the thirty
four foot frontage but additional space
three or four times as large. A rev
building has been constructed in the
meantime. which accounts for the tre
mendous advance in rent.
THE demand for store space is very
great and the space itself is limited.
There Is space to-day IN Fifth avenue
that Is going 90 bring in 100 per cent
more than IL did ten years ago. The
only chance of obtaining space az a
reduction Is when the building Is dilapi-
dated. You cannot get long term
lease unless you rebuild. and look for
great activity In the building world.
"To give. an idea OF what the builder
has had 90 face. even within the last
two or three months. I will relate what
one OF them told me recently. Two or
three months ago he was employing
twenty-seven painters and paying them
si1 and St2 day. They did less
work than ten painters he is now em
ployng and paying $40 q day.
Operators have been out ~ the field
for three or four years Now they are
ready to buy properties and 90 20 ahead
on buildings. The same conditions apply
everywhere not only IN Manhattan but |
in Brooklyn and the surrounding dis
tricts."
Mrs. LILLIAN g. Johnson OF ie2 Broad |
vAy sees a less rosy future In tho