The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-20
REAL ESTATE MATTERS.

The week past has been comparatively poor one
in the real estate line Notwithstanding the pleasant
anticlpatons which had been INDUCED in. This
season OF the year is generally dull with real estate
dealers but the fact that thus far the weather has
not been particularly severe gave rise to the belief
that the market would be more lively than it has
proved to be. The anticipacons, however, have not
yet died out and If the property advertised for sale
during the coming week succeeds In bringing any
thing like the real value Of the parcels offered
owners will he made glad and statesmen correspond
Saturday is one OF the quiet days among the real
estate people, and Of course there nothing
doing Many OF the dealers say they have property
improved and unimproved, ON their books Tor sale
but Il unfortunately happens that the prices de-
for houses in the city that people who might feel
inclined 10 invest are actually frightened from doing
market Hsy which, p at all ea5e is naened ue
by some one OF the many greedy and. there
lore, Inscriptions sharpers who haunt the
salcsroom and in lew days observe the
same property again In the market and bringing a
still higher price. ty many this steady advance in
taxable sign Of the increasing wealth of the metropo
lis TO certain extent Is because certain residents
and. Of course, the individual wealth adds 10 the
general wealth. But on the other hand, there are
many who think that the rapid and enormous in
crease in the price OF properly In certain quarters Of
tie city l. an unhealthy sign-a sign of that n1a-
ton which tends only to make the rich
hope that ere long tins speculative bubble
viii be prickod SO that those who nave been mstru-
mental IN "bGngn so much will be crushed by the
weight OF their railing and falling speculations.
The fact that decent suit OF apartments ia any re-
spectacle quarter Of the CITY, even removed rom
the shipping and other business localities, cannot
be rented except at most cxorbtant price IS owing
almost entirely 10 this false valuation on the pro-
perry in the real estate market Real estate dealers
ana spectators give house owners the idea that
their possessions are OF extraordinary value
II located in any readily accessible neisnborhooi,
and that the property should return TO them cor
responding rentals. This Is often done merely 10
increase the fees Of the dealers and brokers' and To
the misfortune OF those who Obliged 10 content
themselves with hired apartments the rents are in
creased TO suit the pockets OF landlords and their
agents or brokers.
The fact mat several OF the largest and most valua-
BILE family estates In close proximity To the CITY
are now being parcelled out into building
ties desiring to secure In the future homes for
themselves and their families, may have the ten
dency TO relieve the immense strain on city property
and make the living in Il somewhat more easy.
Those whose avocati0ns viii permit Will find that
residences near TO but out OF the limits Of this
already overcrowded city will be the best thing for
them 10 secure, and as the means OF access TO and
from the suburbs are becoming now 80 frequent and
complete removal irom the metropolis - highly
Among the estates which have recently been par
celled out as before stated one OF the most eligible
II not actually the best Is the property OF the Norris
family, located near the Larlem river ana just be-
yond tne terminus OF the seventh avenue. por-
lots, and on Tuesday next they VI be sold at the
Exchange salesrpom by Mr.. Miller. The estate Is one
TO which tnere suOuiu atbacn u large aUouib vi
national pride. It'll has been In the possession OF the
Morris family for nearly two centuries, and on 1t
were born, among others, Lewis and Gouverneur
Morris, both OF whom have merited the undying
gratitude Of the American people. The former
OF the foremost opponents OF British oppres-
sion In the colonies and signed the Declaration OF
Independence evtnswhile the domain was In the
possession OF the British troops. For hts patriotism
he was OF course deprived OF his landed Inheritance
and the farm laid waste by the troops In charge.
Gouverneur filed many Offices Of trust and
honor under the Colonial ana state governments,
and was the one to whom James Madison accredited
the finish given to the style and arrangement OF the
constitution OF the United States. Both OF these per-
sonages spent the declining years OF their lives on
the estate at Morrisana and gave to 1t eryiabie
notorety by their careful management anu univer-
sally acknowledged hospitality
The portion OF the estate which Is TO be disposed
OF on tuesday ne xt IL located on and near the central
avenue Grand Boulevard, which Is rapidly approach
ing completion ~ ~ nearer 10 the CITY Hall than
the famous Dycknan estate and 10 fully equal I'm
beauty and advantage OF ~ituationl 10 almost any
other locality in the nelghborhood OF the city. IL is
proposed TO place this section OF Wesichester county
under the control OF the Commissioners OF the Park
and while the taste and tact which these gentlemen
have shown IN the making and management OF the
Park must be readily admitted, II ~ safe TO say that
their labors In identifying or beneittng the local
itv of the Morris estate Will be remarkably iput.