The New York herald., 1869-06-14
REAL ESTATE MATTERS.

Inc actlVlty OF tne real estate market during the
past week was very seriously interfered with by the
uncertain weather which prevailed rendering 1t
impossible to calculate with any degree Of comfort
able assurance as to how long the intervals Of sun
shine would last. Many who would under more
favorable auspices have attended the sales OF subar
ban lots were deferred by the fear Of drenchng
before their return, while OF the sales were In
terrupted during successful progress by heavy
showers, and others unavoidably postponed en-
ttrely In consequence Of similar untOward happen
Ing 1t Is noticeable, however. that these postpone
ments were all only for short period,
ana mostly to some day this week. Notwith-
standing these drawbacks noticeable principally
in reducing the total amount OF sales, the
activity and firm tone OF the market continuing
without reaction the week has presented some inter-
esting features. Prominent among these was the
sale Of the Westchester Park property on wednes-
day, particulars OF which were published in this
column the day succeeding, which furnished
reliable quotation OF this description of property.
With all the accessories OF extended and judicious
advertising fair day. personal view OF the property
and surroundings inferior to none other in the
country in point Of picturesque and heathrul situa-
ton, beauty of scenery and the select character
the neighborho0d, the lots offered here were pre-.
sented under the hammer with every advantage
that could be desired. The attendance was large
the auctioneer able and experienced. Yet 1t will
have been noticed the prices obtained fell short
OF the degree Of appreciation that has been evi
denced In other directions No better test could be
applied to ascertain the precise status OF Westcheser
pr roperty In the market at the present time than
this, were all the circumstances in favor of o fair
trial. The result may be briefly stated as demon
stratng the necessity Of improved means Of COM
municati0n between the upp er and lower extremtes
OF Manhattan Island before Westc hester county viii
secure equal favor with the mass Of those who in
cline TO invest in real estate with New Jersey or
even some parts OF Long Island and present the
same opportunities for profitable speculation in
building lots and villa sites as do these suburbs OF
the great metropolis When that is accom-.
plished "the natural suburb will enjoy
greater prospect Of being recognized as such,
but It's present disadvantages in that regard
preclude the expectation OF any greater activity very
soon in real estate there than has thus TAR been
Of the future, New Jersey Is Of this period and
as most OF the land Is held In large tracts by wealthy
1t is not likely to be oIered to any great extent
AT the present prices. Those who purchased on
this ISd' and SATISFIED that they WEI were fnl making
good investment. They, however, are not enough
''bears" and purchasing for future realization, op-
posed to paying high dgure it's the smaller capt.
aaa tat Iys ren9aS and m
real estate; and to these, who are mostly down town
business men, frequent ana rapid means OF
travel to and from the city Is primary condition to
making the most charming suburban retreat ''desir
able."o The results expected from the passage Of
giving control OF tue lower portion Of westchester
county to the Commissioners or the Park ares
many and valuable, and will doubtless prove great
element OF appreciation in giving proper form and
unity Of design to numerous crude plans now in
contemplation for the adornment and general i'm
provement OF the whole OF this region, preserving
its natural beauties OF landscape and aiding their
display, thus rendering 1t more and more attractive
for the beautiful; but II the present real estate
owners desire to bring In as purchasers the
comfortabe houses IN the County. IN some uuiet net
select nelghborhood let them rather urge forward
some OF the many schemes now IN contemplation for
bringing Westchester county and tne City Hail, New
York, within easy and rapid communication. In the
first case their profit may be greater In the latter II
Will be speedier Of realization.
The sale Of the Carenceville, L. l., property.
which was held on Tuesday, was another noticeable
feature Of the market. indicating the awakening
munication with suburban districts. But for the
cent opening the South Side railroad which passes
through here, this property would very probably
have been brought into the market IN this way
but placed within easy access OF the city by this
street, Williamsburg with steam nearly to the water
side, 1t not only attracted large party upon the
day or Its sale to examine IL and its surroundings
with q view to comparison with other places, but
excited animated and spirited bidding among pur-
ss and "a very a
strated In another way the same important relation
which the facilities afforded for travel to and from
the city bear TO the market value Of real estate No
better prices have been obtained this year for sub
urban property-the circumstance Of Elizabeth en-
joying communication with New York by two lines
ofrailway the New jersey and the New Jersey Cen
tral, proving here OF highly apprecatve influence
The following Is summary OF the dealings In the
real estate market at auction during the last week.
the falling of In the total OF which from the previous
week has been explained above:-
MONDAY, JUNE ].
New York improved property. $3.50
TUESDAY, JUNE 8.
New York improved property. s3,6T5
New York leasehold property ......... 10000
Kingsland sManor, N. j.. unimproyed
property. y............ ................ 1906
Clarenceyille l.. l., unimproved prop
erty ty......................... ...... 2o,254
- 1895
WEDNESDAY, JUNE o.
Westchester Co. unimproved property 42T, $50
N. Elizabeth n. j., unimprOved prop
tTtN ......s.... ...............s... lI,sSb
N. Elizabeth N. j., improved property. 10, 200
- 55.si5
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