New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-11-24
EEIGHBORING REAL ESTATE.

rRooKLYN PRoPERTY-REAL ESTATE PARALfZED
by TAxFs-THE PEOPLE IHDIGSANT-JERsEY
CITY-RATE OF NEUTRALITY-SUSPICIOUS.
COUNTY AND ITS NEW RAILRoADs-sPECUlA-
TON IN WESTMINSTER AND PUTNAM GUM
TIES.
The stagnation so long prevailing IN Drook-
yn property eth continues, though there are some
Indications Of more activity But little property now
ever is vet changing hands, and the few houses that are
disposed of are mostly exchanged for other properly
The volume of property for sale il enormous.
not at all made evident by the bills on the houses o AT
this season Of the year but small proportion Oh 'ie
rrcperty offered ia advertised in this manner An
inquiry AT any of the real estate ofces scat
tered throughout the city Will make 1t manifest una.
purcbaser may select almost any house In neghpor
hood and find the willing TO part Win H. NoF
withstanding the numerous offerings or Brookyb Fea
estate owners hold more firmly than could be expected
The CANT ideas Of the value of property induced
y the war have not been and owners VINO
purchased at tie rates then prevalent naturally 10th
TO sell at loss This they compelled to do how
ever or retain their property Nothing has occurred
to counteract the downward tendency OF the mes pu
much has taken place 10 increase that tendency buo-
ing material has undergone great depreciauon Since
the close OF the war-and this necessarily reduces the
value Of houses built at that time Labor has not de-
eined az anticipated but il Is beloved that decline Is
inevitable. The question Of demand and supply also
comes n Too many houses have been built, especially
the outskirts Of the city, TO find tenants at prices re-
munerative TO the builders. good Philadelphia brick
front house 2oxo with extension In the rear ON par
or loor-Hushed plainly. in good and substantial man.
ner, with every convenience, having walls II inches
thick the material of the best-can now lie built for
about 5000 Add TO this the value OF the lot and we as
certain what the cost such property would be at the
present time In many parts OF the city, suitedto good
class Of inhabitants the lot would not he worth, ut the
highest prices yet attained, over $500, which would
60 I'M tar aueh hoI
hundred dollars added would cover the extra cost OF
brown front, In place OF front OF PhladcIpms
brick But il must be remembered that it ia very hard,
under present circumstances TO realize the cost price,
and that, low the prices aforementioned seem,
compared with the asking price Of many owners they
cannot readily be obtained. Many neat and pleas
ant frame can be found at lower prices
The high rate of taxation in Brooklyn Ia one OF the
chief prostraton OF the real estate market
TRe eourse pursued by the city authorities Is utterly
runous ~ the best interests OF the city, Ibey nave
already brought the city 10 the verge oi bankruptcy
and need only keep in the same channel to bring
into disgrace and precpitate ruin on property owncrs
As badly az New-York is governed, and outrageousy
a. It's inhabitants swinded by the city authorities
Brooklyu In Numbered still worse. In New-York
tense has made of reducing the rate Of taxation
but in Brooklyn the constantly increaecs Tie az
sessed valuation also Brooklyn property ia very high
The rate of taxation the coming will be about Tour
per cent and the assessed value Of most property is
already fully twothirds the highest price has ever
realized or been held It, Add to this the interest on the
capital invested or paid mortgage remaining on the
property, the expenses for repairs, &C., ana
we find that the cost OF ownership OF brooklyn prop
erty il somewhat ns follows
TaIs Of per cent, PER cent
Iperes. Investment FER cent