The New York herald., 1870-03-14
REAL ESTATE MATTERS.
What the People Think-A Ieariah View Of the
Market Rents Encouraging Words and
Good Advice for House Hunters
Tho Movement in the Suburbs

20 many OF the residents OF Nav YORK city anu
Brooklyn make their annual Hegra, TINS becomes
an. .alabsorDin9 topic or discussion IN househosd
circles. and tue prospects OF an ADVANCE or uechne
in that direction are eagerly and anxiousy can
vassed The popular feeling IN favor Of decline Is
stronger now than ever. This sentiment, gaining
strength from tie recent fall IN gold has produced
q stagnaLon III tne real estate market In TINS city,
the furure erect OF which would seem to imply an
early break. The interest felt In ths matter
by the people IL shown by the num-
her Of COMMUNICATIONS we receive upon tho
subject, expressing might be supposed, very op-
posite views This day week we gave space to the
Argument OF one side, to the effect tnat real estate
should go UP instead or down with gold approach
ing par. There Ii much truth III this conclusion,
considered apart from all other influences affecting
the value OF real properly; but y later correspon-
dent, for portion OF whose remarks we make room
to-day. presents some arguments thai go far TO dis
prove the correctness OF SUCH assumption. The
latter writer says
The fall IN value OF real estate and rents is settled
things both must come down, ana no effort on the
part OF SPECTATORS can prevent It, except they i'm
prove business and show merchants now TO make
larger profits. One and very important point
used py spectators to pat up the price OF estate
In the city OF New orx has .aedtDat ls the repre-
sentaton that New loik was 10 be The terminus Of
disc by that route wil ceftsaiy go tfans pnent
TO tnat point, II he freQat cost no more where
they can be handisd for the least tnouey, aud New
York h not that po.nt. Mitn regard to trade OF
New York IL has reached its highest status. The
profits to the merchants are very scanty, anu when
She rents ana expenses ul ivng ueauct ted there
~ nothing lett: IN iacl many Of dealers for two
years past have not AID expenses. nice state oi
things ~ now existing the merchants cur.ailing
expenses by reducing silarles, &C.-and yet land.
iords and SPECTATORS lynu 20 Keep up real estate
and rents. They wnl rave a nice tnne ol II.
II any oil your editors or reporters Will have the
goodness to take WAX about the dwen. part ol
the CITY, aud see the number OF bs up Oh houses
Lof sale, &c they Will be satisfied what desire
there Is on The part OF tue community turn their
rea estate into other Investment. Aud why thls
siief IG Is because the holders are satisfied rcai
estate must 20 down. and besides the people want
ke money, or, in other words, the Of Ihe people
are getting poorer every day and the wealth is
pouring IN che lap Of The wealthy.
Mr. Editor, tals II noiancy sketch: 20 among the
people the small store keepers, hear what they
say. New York 10 nol The place IL was before tne
war. country people understand tnis, and don,t
come mere expecting 10 get cneap goods for they are
aware OF our enofmons leots. nc. fne same way
with the country merchants; they only here SUCH
novelties they cannot ilnd elsewhere. Thus Is The
trade leaving New YorS
There is uouot many of our moderate people
were induced 10 buy property by putting IN So OV0,
$1,000 or $4,000 la noase OF 80 mere and there
upon the representation ot real estate agents rather
tAan pay the enormous rent eXac,ed; but how are
these poor people now stuatea? Every one OF them
wants 70 sell u tAey only eau get tue amount in-
vested back again.
Who want 10 sell but cannot, nor viii they ever
the tine again when they can get back the amount
1nycSted.
il VIII DO perhaps ior capitalists Ike many OF on,
rlch men, To invest IN ieat estate &c. but they Will
,leser see the time again they can get ten per cent
income upon the present pr,ce OF property, even
WIN the twenty per cent depreciation which some
Eeai estate men aalit
Tne Eoen.ag YeeWam says:--The renting season
rs very backward and old tenants very 10th to
reian at last years rates. Houses thas were rented
Ior 81 4Oo last renewed THIS year at 81 OO0
ana some rented then ut $1,000 can now oe obtained
The same thing IL true OF Brooklyn, Hobokep and
Jersey Clbs. There never has been year when the
expectation or reduction oi rents has so uni.
versal as this 0I the determination 10 insist upon
such so firm. The advice was gwen iu the HERALD
some weeks ago to tnose seeking houses to DO pa
tenI, anu not by rushing into the market and out
blduing each other lnrougn fear OF not xainla9
what they sought iatr create an excitement to
operate 10 The advantage Of rapacions landlords
Ine business or sucn adiUnitlOn has been generally
Tecoguized aHd followed, With pFecisaiy the pected
results, and tue feeling In the rent market now Is
favorable To- tiie teaaaG
Ey stfA aahenhg 10 this plan OF indifference
greater advantages may ec gained. one POM
should be Kept STEADILY IN view. No matter how
anxious the tedapt class are 10 eetae themselves
before the at ol Iay. The landlords are stl more IN
terested IN iettng ther houses before that date.
huuse not ieS by May A may be empty tor shree
mouths before II desirable tenant can oe oDaihcd,
40 complete Is the iailins on ~ the INJURY tor
houses subsequent to tlat day. II, therefore, there
De u large nulpner Of houses lett uuul near then
without BENG tikon there wll be the same pressure
lordy To make .easonaUie CONCESSIONS, as IN the
pegence Or former years there has peen 10 tpe other
condition nurry among house &unters to Make en-
We commend this lesson to oil who intend to
move thts year.
business IN real estate al the desk continues with
far animation, but ~ mostly confined TO exchang-
ing. NJ. A. J. Lynch reports Inc following sales
during the past weeH-Four story brown stone house
OH Madison avenue 10 leet inches south OF Forty
ninth street, $50, 0p0 four story house on Forty
lnth street near iiith avenue, s4o,ooo eight lots
eight lots on ElIntn avenue and Avenue st. Nlcho-
Las, S37 600; twentynine acres III. Long Branch,
$4,000; three story brick house On Cefmont avenue,
w. H. Raynor reports the sale OF four lots north
west corner VI ko.tlth avenue aud seventy sixth
Htreet, l0A leet 2 incnes front on the avenue and
50 iect ceph, for $4,000; aiso four io,s south
side l35th street. l0Clect west Of FttA avenue each
23x3Yl1 iQ{ $1,000 each.
Naterow E CO. report the sale OF the house AMI
lot NO. sG4 Sixth avenue, between For yeightn aud
Forty ninth sreet., four story brown stone butid-
fpg, With sorc aud basement, 2tx5ox62 for s25 $780,
Long Island Reul Estate.
During the past few months real estate ON Long
Island has made quite an advance, owing to the
heavy operations OF and building assoca
tions. The following correct record OF the safes
effected m various Localities during the past week.
In Astoria Judge Strnmmess, Of New York, has pur.
chased from the German Lot ASSOCIATION, the farm
occupied by Arnstead @. Henry, for $40, 900; J0nn
Combs Of Dix Hills, has exchanged hts farm Of 200
acres for property in Astoria; Mr. Smpson or Flat.
b,isi has purchased the estate Of G. II. Woodhul
in Huntington tor $l5.O0a; II. o. Whitmore OF
Huntington, has purchased The Manorville Hotel ror
3lj0o0; Walter smith mas purchased the Warne,
property In Huntington Ior 5000; f. NJ. Wilson has
purchased the residence OF samuel bird In Hunting
ton Tor $4,000; MIR. Bird has purchased the
residence OF Q. A. Hawkins Tor ST. 500; Isaac
Luyster, OF oyster Bay, has purchased the
farin OF Edward L. Frost for $1,000; John
GIyn. Of Westbury. has purchased four acres from
Isaac Il. Valentine Tor Si,i09; John G. Terry, of
Riyerhead, bas purchased the house OF ELLSWORTH
Iufhi for S2,2v0; Charles Haitett mas purchased \
LOT from Z. Terry, IN kvernead for $500. Daniel
a. van has purchased two 1918 on Union street.
hNeihcad irom Mr. Downs for S400.
SOme aud III kiyerhead is being sold ac four dol
lars loot where II measures less tnan the ayerae
ioL. I, -