The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-02-16

though he offer them Q habitation where the
mantes are Of Cirrars marble ana the parior
walls are frescoed in the highest style OF
art The want is great for such class
of dwellings as Mr.. Peabsdy has directed should
be built at his expense IN London, aud IS NIL
lionnare of this CITY, it was once reported contem
plated erecting here. And property of this de-
scrption, 1aatgre the opinions OF agents and land
lords, will be found to yield handsome profit,
while incalculable good would be rendered as
the same time to most deserving class OF our
people.
There is another consideration affecting this
scarcity of cheap yet comfortable dwelling houses
that lis worthy OF notice. The continued high
prices OF labor and materials have prevented
many men OF small means. who have money laid
by Tor building purposes, aod who intend to erect
homes for themselves from entering into contracts
with master builders. hoping that, by delaying the
construction OF their contemplated residences, they
may be able to get them built at less cost
than they would incur by erecting them
at the present time. The greater portion
OF the buildings put up during the year belong TO
capitalists, who have erected them on speculation,
and who desire TO sell them, after few years,
when by the increased value OF real estate they
shall command price sufficiently high TO satisfy
their owners. The really house-needing class are
without homes OF their own. Superintendent Nc
Greg0r's report shows this to be the case. In
Brooklyn. Jersey and other neghborhoods ada
cent to this city, there has been quite briskness
in the building line, however. The report for 1857
for the first mentioned city shows that 1907
these 2,O62 were neat, substantial frame houses,
Sal OF brick. and Ala OF brick with brown stone
fronts. The rapid rise in the value OF real estate
In Brooklyn is the cause of this building mania.
Owners of single lots have found it TO their
interest to erect houses thereon, by which
means thirty and oltentimes seventy-fve per
cent has been added to the value OF the land IN
the vicinity OF these new buildings. There will OF
course be an exodus of families from New York
to The Long Island and Jersey shores, to Westches-
ter and TO the metropol tan surroundings on May
day; but agents generally agree in the opinion
that their places will be speedily supplied by
others who are DESTROYS OF obtaining residences IN
the city proper.
Store rents in the principal streets, and espe.
cially in Broadway and the Bowery, will probably
be increased, though not in SO great gree as
last year. Taking all things into consideration,
however, and basing the assertion on the opinions
Of those supposed to be the best informed on
matters OF rent aud real estate, it is safe to
crease in rentals; at least there are no
plausible reasons why there should be in this city.
Those, however, VINO are watching for .
downward tendency in rent values will prob.
ably be disappointed; the prices asked will be
on an average about the same AZ those OF May
last. In Brooklyn store rents on the principal
thoroughfares, such as Fulton street, Court
street, Fulton avenue, Myrtle avenue and At.
lantc avenue, have increased in value; but
desirable residences are being let at the same
rates as obtained in May, 1867. The applicants
for these are mostly from New York; AZ . gen,
eral rule, though, Brookynites, who live in hired
they now are for another year and moving day
in the City Of Churches will not be so universally
observed among the residents proper % In the
past three years.