The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-02
REAL ESTATE MATTERS.


in connection with recently completed and projected
improvements. Brooklyn weekly journal has the
following respecting property In that city,
The value Of real estate in Brooklyn Is now SO
much higher than 1t used to be that thousands OF
persons long accustomed TO the Old style OF things
cannot make up their minds that this Is not insub-
stantial and un;rustworthy. Many who willing
and anxious to buy are restrained from doing
they viii be enabled TO gather up bargains.
In this they are sustained by all the invete-
rate crOakers who abound so peculiarly IN
this city, and who are never weary OF saying that
present values are far too great and that the india
ton must certainly give place to reaction. While
to restrain buyers, diminish sales and render the
market dull and inactive. 1t does not prevent peO-
pie OF the lower classes from buying small houses
them. They know from the severe pinch Of the
high rents that they can better afford to buy small
fourth of its value annually for rent. The conse-
quenCe Ia that all the small houses the builders can
erect are snapped Up eagerly and greater number
Those who invest capital In this class OF
houses to rent them out again to tenants cal
far beyond all the possibilities that formerly charac-
terized the real estate business In Brooklyn But the
Of for these houses for their own use
Is so unfatllng, and the rates asked so easily OBJ
taned that capitalists stand less chance than other
people to get them. Many capitalists are also
dwellings, by the incessant croakngs as 20 the man
ner In which they are built, while the truth Is that
there e really more solidity and security N them
TO people in humble circumstances. who have
managed to scrape up little money, there Is
these houses or n0ne and therefore, they do not
hesitate. Amy one who fancies that property ranges
too nigh here, need only look at the prices in New
York city and In all the leading cities. They will be
found to De far beyond ours; not that business in
proportion any better there, or that houses are
less wanted here but because the supply here thrown
into the market is greater than anywhere eise THIS
ID the only thing that keeps down prices, and II the
builders were to conclude not to erect any new
houses for year. the value would immediately 60
up rapidly. The present prices, which are 30 much
higher than anybody ever deemed possible, result
from the fact that during the the scarcity Of Ia
supply Of new houses being built. The trouble. how
ever was far greater elsewhere, and the figures Ia
found anywhere else that general rush commenced
for houses here. The builders have tried to
rise to the emergency and have done won.
their capacity. II we could build many hundred
houses next season would not equal the demand.
The prices would not change and instead OF coming
growing steadily and rapidly, and though its trade
with distant regions may be matter Of uncertainty
its local trade and manufacture win Increase with
its population, industry and wealth. Still the same
nexplicable cr0aking about the prices OF property
being too high goes on Just the same and people
waiting for fall they will never see, and will prob.
ably keep on waiting until they shall be glad to buy
In the city that few years ago were passed over
and rejected at or S. oOO that now sell readily
TOT $l3,0OO, Wnlle some OF Lne same KIND go SILL
higher Our impression is very decided that the en-.
suing year will witness another great advance Of
real estate In this city and that tins advance will
quicken purchases generally
Among latest sales OF real estate In Baltimore IS
that Of lot OF ground on the west side Of Fremont
street. near Prestmann having front Of 10 feet and
depth OF 100 feet. 1t is improved by three story
brick dwelling house, subject to an annual ground
rent Of $780, and was purchased by DR.. II. A.. Inl0es
for $4,000.
The following property In and near Baltimore, be-
longing to the estate OF the late Mrs. Sarah StrOnacn
was sold recently:-A residence on Hargeu street.
purchased by Mr. King, OF the firm OF Whitelaw 4
bid on by VIM Grimes at $500, and tract OF land
lying IN Swift Greek district. three four miles
from this city was bought by Thomas j. jenkins for
$425.
The estate on Union Hill, Worcester, Mass, known
recently as Dale Hospital has been purchased by the
trustees Of the Worcester Academy for the use Of
that institution. 1t 10 stated that $4,000 was the
price paid. The estate on the corner OF Elm and
West streets has been sold to thomas Earle, Esq. by
Mr.. q. +. washburn, for about $4,000. Mr. Reed,
OF Br0okfeld, has recently bought OF Mr.. II. w.
Eddy the estate on the corner Of Chatham and Ok
ford streets for about $4,000.
The Alexandra Gazette says:-A party Of Northern
capitalists at the head Of whom are ri. j. Davis OF
Boston and Mr.. Vandyke, Of New York, have pur
chased the entire Thornton estate containing 500
acres OF land located at Th0rntons station on the
Alexandria, ilOudOn and Hampshire Railroad I'm
the county OF Fairfax for $4,000 The tract is to
be laid OF immedtaJeIy and divided into small lots
and town Is to be laid OF upon the property after
the plan Of Vineland, in New Jersey. 1t Is stated
that this project Ia TO be carried out at once ana
that the managers OF the enterprise have made such
arrangements as Will insure the occupation OF their
land by large number OF people from the North at
an early day.