The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-06
REAL ESTATE IN NEW YORK.
sur,oslrles for EereantHe Museum-Ssnber
Of Lots in the CIty-state Of the Market
March of the Dry Goods Trade Up
Tovn-Thc Boulevard, the Park
and Washington HeIghts-
Something About Cor.
p0ration Sales.


Collected, form very interesting mercantile museum.
Az for instance it is related that In that rocky and
mountainous section Of England whero scarlet coaks
and high crowned sugar loaf shaped hats tho
fashionable OF many Of the gentler ssx cats were
once used circulating medium in place OF specie or
sreenbacks This, is true, occurred many years be-
FORE the nrst Prince OF Wales ushered into
the world beneath the shade Of Carnarvon's
gray stone walls sleek, well fed taboy, or
q vicious full grown tom cat, must have
pssssd current In place OF I've or ten dollar BILL
while litter OF kittens answered the purpose Of small
change just as nickel pennies do now. bank with
large capsl OF cats II they had such institution in
those days must have been very extraordinary Affair."
she stockholders OF which would pray with much de.
voutness that the capital might be fruitful and multi
ply in more ways thanone That cats were really used
as q circulating medium In Wales IL well authenticated
and the fact that occurred at very remote period
does not lbssen its siperest
Not less Curious ncident was the manner in which
our Dutch ancesorsfrt acquired legal right to certain
portions Of Manhattan Island Dedrich KnicSerbockcr,
that veracious and entertaining historian OF the
settlement Of tn, New Netherlands and tho
rise aud progress OF New Amsterdam, tells with
much CLEO OF the manner in which Ten Brooches used his
multtudinous garments 10 much advantage That
he says with greet soemnty, the first operation in
real estate on MANHATTAN Island He was doubtless quite
right In his assertion
From that day to this the business OF buying and
selling real state has been OF the profitable
tho city he number OF those engaged in il is always
on the inecase and hundreds have realized handsome
fortunes " it, whilo many have retired disgust
having dscovered that want OF business like abilities
and honesty in the real estate, in every other
kind business, 10 entail ruin.
YORK REAL ESTATE.
o. Manhattan Island there between two and three
hundred thousand lots. The price OF the majority Of
tbsm is still going up and those most with
ne fluctuations OF the real market express their
inability TO Ok . maximum price for the lots in any
given section OF the city Time aud the increase in tho
population will give fixed value to city property.
What that value will be II Is now, OF course impossible
to tell When the island is built over, which the wants
Of rapidly increasing population will render an event
Of very distant day, city property win acquire and
maintain . fixed value. The rapdity with which
oar population increases renders II certain that in but
very few years New York will be the densey popu-
lated and thickly settled city the world which
are now grazing grounds for goats reccptaces for
oyster shells will then be occupied by lofty dwellings
spacious stores owners OF real estate win be
able to toll the exact value OF their property. At the
present time this is said to he impossible. Brokers
who have grown gray in the business OF buying and
selling lots are unable to what will be the condit
OF tho market = few years few months hence
All they can speak confidently abou, is the past and
- THE PRESENT STATE OF THE MARKET.
All real estate is, as every knows held At
very high figure II Is not great many years since
was thought too high price. The same lots are now
sold for from sl25oo to $4,000 Union square is
taken instance Of the immense increase in tho
value OF real estate which has taken place during
said that the great panic Of 1857 ravo the rsi great
impetus to the real estate market Capitalists, who be-
stocks and bonds saw as' %e AWAY beneath
the general alarm created by the failure OF the
tsrmined Sa. hsnceforth their surplus means should
be invested something tangible and real estate
now e 10 60 "p rse went up 50 rapidly and
lots. Many mon Of abundant means bought up
large Quantities Of city real estate and hold IL at It's
although purchasers could readily be found al
moderate prices Among those who have invested
Hebrews In other they would have invested in
gold or diamonds, but here they departed from their
market, Such being present condition OF
the marke-a large and increasing demand. with but
. limited supply-ihe dealers in real estate do not
seem TO anticipate any reduction prices; and the
fact that no very material change has taken place In
to indicate that above stated are true
that the bulk Of the city real estate held b. men Of
ceivc the price demanded for their property or until
sufficient reduction takes place IN the price Of labor
centage by the erection OF stores and dwelling houses
THE DRY GOODS TRADE
The value OF resi estate IS immensely increased
wherever the dry goods merchants congregae The dry
goods merchapts, however, follow the lead OF the hotel
keepers and at present they are moving up town at
remarkably rapid Pearl and Broad streets were,
some years AGO, the principal emportums Of the dry
goods trade and property there commanded compa
rativcy high prices When tbs merchants moved into
the between Trinity church and the New York
Hospital and Broadway and Greenwich street, there
street was hereafter TO DO comparatively value.
less and the stores were principally occu.
at that time $4,000; but time moved and tho
grocers sought other quarters and now the stores they
formerly occupied divided into offices aud let 10
brokers laws and other professional mcu AMI the
whole rent OF one building Is not less than s5 co., m
twenty years. Tho dry goods again on tho
move and in few the streets between Blocker
street and Union square. and broadway and
sixth avenue, VIII be almost entirely monopohled
by the dry goods trade. Already many inquiries
are being made for lots within tho limits specified, and
the probabilities are that the stately residences aoug
fifth avenue standing on lots many OF which sold
about the year 1870 for little 81 600 will com
mand the enormous price OF from $500 TO 5000 000
The improvements which have been going 10 Church
street for tho last twelve months have escaped
the notice OF any New Yorker IL. reported that
enormous sums have been paid for the ground which
many large dry goods stores have been erected but
the transactions have conducted without the
aid OF broker, no details can be given OF the prices
paid.
PROPERTY ABOVE UNION SQUARE
On the side OF the city, above Union square, tho
Improvement in the value OF property has been very
marked Lots which seven years ago were sold for
mousy advanced figure Of $4,000 In this section OF
the CITY there are large numbers OF unimproved lots
which held by capitalists at high figures. I'm
proved property has also largely increased in value and
one instance 10 mentioned Of building in the neigh
borhood OF Eighteenth street which purchased two
years for 500 900 and has lately been refused for
$4,000
Keeping pace With the advance In prices the many
improvements which being made IN the appearance
Of that part OF the city lying oet.sen the Park and
Union square Many very elegant private residences
are being erected by OF leading citiscns who
have hsd 70 pay a. high $40 900 for lots which twenty
years ago could have been purchased add we're actually
sold for $1,000 Lots which have recently been eagerly
soughs for the rate Of 900 per front foot were sold
In 1sA2 for about $780,
THE BOULEVARD.
The Park, that magnificent garden Of nearly eight
hundred acres with its flashing founians cool drives
and sheltered walks has had the effect Of increasing the
value OF property in Its immediate vicinity from one
hundred 70 ave hundred per cent Tho Eighth avenue
side OF the Park destined 10 become The West End
Of New York, and there 81 the present time lots 10
said, 70 be obtained for less sum than SIS 0O0
49,.