New-York tribune., 1921-11-20
Gated by Lee, Higginson & Co.'s table
of September, 1921, as follows:
(Above prices are cash prices in pri
mary markets.)

(Above prices are cash prices in pri-
mary markets.)
Future of Realty Never Brighter
The future of downtown real estate
was never brighter. Business condi-
tions generally are improving, and
while the volume of business is not
as great or the profits as large as a
few years ago, yet conditions are
healthy and the volume of business
larger than at any time prior to 1915
or 1916. Hard times have not come to
US in the real estate business, but
easy times have gone, and l hope those
easy times will never retuvn. There
is little satisfaction in having more
business than one can properly look
out for, or for broker to earn more
money than what he knows he is
economically, logically or morally en-
titled to- s0.,
The departure of easy times is the
exit for many wartime brokers, and
as never before the public to-day de-
mands the most intelligent and expert
attention for the transaction of it's
real estate business.
The general condition of the real
estate market is reflected in the fol-
lowing figures, but in this connection
would call attention to the fact that
the first six months Of 1921 were con-
| siderably poorer than the first six
months of 1920. Since August l the
gain for 1921 over 1920 has been quite
marked, and the improvement as we
get toward 1922 is definite and certain
From January l to November /, 1921,
1892 properties we're transferred on
Manhattan Island, as against 14,092 for
the year 1920. ct will be noticed how
dealing in real estate slackened for
this entire ten-month period.)
That business, however, is improv-
ing considerably is shown by the fact
| that for the week ending November
239 properties were transferred in
1921, as against 157 properties in 1920
for the same period.
The assessed valuation of the 1892
properties transferred for the first ten
mooths of 1921 was $51O,156,949, as
against an assessment of $894,272, 800
for the same period in 1920.
| For the first ten months of 1921 the
transfers where express considerations
were stated--as referred to heretofore
showed that the public paid $685.
BAT for real estate assessed at $45, ,489,-
100 by the Tax Department. and the
figures for 1920 were $1O1, ,613, ,O27 for
property assessed at $85,508, 600, show
ing in each case, as previously stated.
that property. actually sells higher
than the assessment.
Mortgage records are also interest
ing. "sS -.,..N1
Six thousand nine hundred and sixty
six mortgages have gone to record for
the first ten months of this year in
for the same period in 1920; 5000 1853, !.
881 has been loaned on Manhattan real
estate for the first ten months of this
year, as against $321,992, ,072 for the
first ten months of last year.
Investors Are Returning
The best of all signs in the real es-
tate field is the fact that investors are
for the first time in five years turning
toward real estate for the employment
of their funds. One of these days the
present system of taxation that has
driven money to tax-exempt securities
and taken it from legitimate invest
ment and business channels will be
changed and sales tax or other
method of taxation will be found, and
then we shall witness the q. greatest
real estate market. that New York Citv
has ever seen, because whenever given
an equal opportunity with other in
vestments New York City real estate
has always been the most popular and
deaervedly the best.
With the curtailment of building
during, the past five years; with down.
town real estate very moderately mort
gaged;, with buildings paying hand
somely and with few vacancies; with
cheaper money rates, and with business
conditions undeniably better, / hope to
see at an early date big buying move
ment,spot this time for occupancy, but
the slogan will be BUY real estate for
investment" And this movement will
be of greater proDortions than any
the high surtax charge is eliminated
and our taxation method changed.