The New York herald., 1869-04-25
REAL ESTATE MATTERS

The most important features OF the market during
the past week the two sales OF New Jersey pro-
perty held on Tuesday and Thursday respectively
on the ground disposed OF. marking a new depar-
ture. in the prospect Afforded by their encouraging
results, OF reawakening activity. All who have
given any attention to the subject are aware OF the
course Of the market thus far this year, which has
been faithfully recorded here The season opened
well, and real estate sOd at auction, at fabu-
lous prices II mattered little where the property
was situated, II within the corporation limits, pur
chasers were numerous, competition brisk, and ex-
brilliant and fancy prices realized. Lots
which by any stretch Of the Imagination
could be classed as In the vicinity Of
Central Park or the Boulevard were In
great demand. aud spectators rushed wildly IN,
many OF them to get badly bitten. Modest dwellings
in unpretending localities were passed scorniuly by
for there seemed to be no speculation IN them while
the rocky elevations along the North realized
to their owners larger sums than they had ever
Dreamed OF. But reaction came speculation re-
cefved death blow. and for number OF days there
were literally no transactions at the rea estate sales
rooms.
Then came healthier tone TO the market, ana the
lot fever gave way TO healthy demand for desirable
city property. The more modest OF city houses
offered found ready sale at fair prices, but the pro-
perty which was worth high prices found but lew
takers. People seemed anxious to exchange this
class OF property where the figures ranged anywhere
htohh o'v,oVo W p@ooVVV iof hoic uupTctcuutuX
homes, and comfortable houses, worth from $4,000
to $4,000, are now In demand. Suburban property
is also greatly sought for because rents in the city
nave become so thoroughly exhaustive Of moderate
salaries that our middle classes are unable to pay
them, and are consequently seeking quiet homes IN
the country. This Is tending to build up within a
few miles OF sthe city q series OF beautiful little
towns, the occupants OF which all do business In
New York. New Jersey enjoys special advantages
in the progress Of this kind of Development because
Of It's superior means OF transportation both In
respect to accommodations and ce,erty, and
land lying adjacent to either the Erie, New
Jersey Central New Jersey railroads pre-
sents superior attractions the market on that
account. There likely TO be many such
sales this summer as those above referred to. If
10 force the prices beyond a far and legitimate
figure, they cannot fail OF success The first OF these
sales we are speaking OF was very happily free from
all suspicion of this KIND; but the sec0nd does
not appear to have so entirely escaped comment.
The idea OF selling on the ground good one, it
inspires confidence on the part OF buyers; but
should be taken, where there Is no hotel imme-
dlately adjoining, TO make liberal provision Tor
the appetites OF those who attend No mat
ter II some OF them are merely ''dead
BEATS" parsimony In this regard Will surely
be reflected in the bidding, whereas generous out
lay will stimulate liberal offers. Nothing disgusts
a man as to find himself distance in the country
without the wherewthal to satisfy his hunger, and
II hotel be not handy the chances he VIII march
or the ground to lind one If he lose all chance Of at
tending the sale.
We bring forward our table OF the gross amount
Of property knocked down in the auction mart
during the past week and for the expired portion Of
the