New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-03-23

crv II has been source Of wonder to those pes, "c
to Judge how many OF the retailers up town hu ~ av
ncighborng cities have managed 10 gc' ch az or
the rents demanded Of thcm--very Ofeh as va
more thar good wholesale in the most eNp
locality would have commanded Few Miro until
of the leases OF this class property do NOT & & Of
May and naturally the tenants express goou u, Gnod
anxiety IN regard TO the prospect o stores about
Judges expect q decline IN rents OF fett ,rn
| equal to that which has taken place oo"h 'o"i"
! CITY PROPERTY TO LET
! Dwelling property. IN deslrlpie hcIS"o' -,
commands about the same rent as last year N'V"i'n
the dizziness OF business owners have succeeded
IN establishing nearly the same rates ~ were pau ~
YEAR few of the largest owners even attempted 10
,o the rents of their property, but in this they nave
| not succeeded They are fortunate in being aDie 70
obian the former prices No one is willing 10 make any
reduction and the pressure far has not been strong
enoag Oh To- compel one The fight which annually takes
place will probably end in drawn battle TINS year-the
| tenant paying. in most cases. the same rs last.
THE MARKET FOR REAL ESTATE.
A year ago the real estate market was rampant The
excitement had not been equalcd for 80 years Property
in and around New York eagerly sought for; IRE
quent auction sales occurred. and the Exchange was
daily crowded with buyers One of the first sales
Of the season was that OF the Dyckman property, in
Guiding moro than 100 acres within the city limits every
lot Of which was sold. This was succeeded by other
sales, and immense amount OF property changed
hands IL perfectly natural that after such period OF
excitement and oyertradng reaction should seU
effects OF the excuses of last years business This
ura reaction coupled with the general stagnatloh o
made so far very dull market. The prices paid during
the excitement of last WERE in many cases beyond
beyond the ability of the purchasers 20 carry Many
invested hoping sell their bargain before they would
CURED at the OF the sale great many purchased
the inducement offered by Of leaving 90 to
eve that the mortgage represented the full value Of the
property. Weak holders will probably be compelled to
lose what they have invested under the foreclosure OF
Thus far this season 1t has been difficult TO effect
los ~ a nrf Ia N
latter unless compelled to SELL prefer 10 hold rather than
make material concessions, and purchasers cannot SEQ
why with gold declining. and all other kinds OF prop
erty following in the same direction real estate should not
be lower The result is almost standstllieac SIDE
waiting what will take place TO influence the
market One prominent broker that he has had ns
many calls for property as ever but that the applicant
are moi unite D views OF owners. His
experience has been that buyer and seller VIII come
wonderfully near TO trade but Will have just enongh
gain Another broker has rented few states
that unable TO effect single sale this season.
His complaint similar that Of the broker already re.
ferTed that the wish to obtain little more tan
the market will command and are unwilling TO make tho
necessary concessions. In market like the present 1t Is
impossible TO say exactly what will be the result thong
everything indicates that decline mus. the
Unlikely 10 occuT-would sfen the market and bring
together purchaser and seller IN many transactions now
likely TO fall through from slight differences
BROOKLYN PROPERTY,
In Brooklyn the same stagnation that has been notice
able in NewYork property has characterized the market
DgJ even 10 "A greater DuIlHB tnS anu
ter months 1t has been almost mpossblity TO negoti
ate sales Many speope desire to purchase property
in Brooklyn but deferred by the high taxes the bad
management of the city finances. and the dishonesty OF
the city officials, who have perperated great swindes IN
the prospective erection of the bridge would add greatly
values in Brooklyn In the absence of countGractug
causes such would be the But during the last few
years the influx of strangers TO Brooklyn mas stimulated
building until the supply mas eAceeuo '0 r Gg ond
leased at prices much lower than IN New
this must have a favorable effect. \ great many per
sons who have heretofore been able TO pay the high
retrench and many will prefer to occupy house IN
Brooklyn. Of the same quality aud appearance a. that
main here and be conented with more humble dwell
ing
to be Of those Of former years The faNorte
localities on the Heights and on the NM In these
places many rstcass houses are for sale; but owners
demand nearly the same prices as last year only those
siOns in these localities Building materials, however
considerably lower than last year and buildings
can be erected on vacant lots cheaper than those already
in the market can purchased FIrStclass houses
ColUmbla-st, overlooking the Bay, are held at from
81 900 to $4,000 transfers have recently been
made the "Hill." On CntOuave.. near Lafay-
cite. row Of frstclass brOwn-StOne houses was
YORK between Fifth ana siiiGaves would Command
$4,000 each The corner house has recently been sold Tor
Dekalb and Lafay etteayes. three and half stories,
finished inside and out in frst-cass manner re-
Gently transferred at $4,000. Thfee-stoIy brownstone
houses this block held at $4,000 on oxfordst
near Dekalbaye., is Of first-claSs fOuT-stOry
brOwnstOne houses Of which have been transferred
within few months. at $4,000, the other at $4,000
Three-stOry brown stone and brick the HILL
other streets. held at $1,000 TO $4,000 In leased
property but little difference j. made between last years
prices and those now asked though brokers III general
lind very hard TO make leases II probable that
ductOn of ten to twenty per cent VIII be made OF the
average, throughout the city.
JERSEY CITY.
Jersey City property is always demand among people
of moderate The short distance from the business
localities of NewYork the portions of Jersey City
cupied manufacturers and dwellings makes property
very desirable for certain purposes Those doing busI
ness the streets the North River find residence
Jersey City convenient and accessible than any
where else Prices Of property and rents lower III
Jersey City than in any OF the other suburbs OF New York
the best parts of the city, brick house, 20 feet wide
and three stories high, be purchased at from $4,000
$4,000. Frame houses III the same locality on full
lot 25 by OO having ABOUT the number OF rooms.
be purchased at from $1,000 TO $4,000 Smaller houses
ferries, good BRICK house can DC obtained for 1000 to
5000
Rents will probably be no lower the people driven
OF New York by high rents who are unwilling To go
any great distance from the ferries IN Brooklyn, Will
cause demand quite equal 10 the supply. Many i'm
provements contemplated In and around Jersey CITY,
which make holders of property very firm In price
boulevard is contemplated from the Courtlandtst
Ferry TO Bergen Hghts-wbch, IT IA thought, Will ada
much to the value Of property its vicinity New pave
ments discussed, and considerable feeling is mani
tested the subject company has been organized 10
bring Jersey City into direct connection with NewYork
by of tunnel under the river bill was recently
introduced into Congress, also to make Jersey City
port Of entry These and other projects have quite
city. But few sales have, far, been recorded; but
there be TO SELL and there less
bills to be on the houses than last Spring.
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