The New York herald., 1871-10-30

s35o 900, Thomas A. vyse President OF the Ninth
National Bank, for s450,000. Mr.. vyse was subse-
quently offered an advance upon this figure, which
ne declined.
nue., between l25th and 120th Streets purchased IN
November last by Thomas A. vyse for $4,000, was
sold by him for So, 900.
purchased four lots the northeast corner Of Sixty
second street ana the Boulevard for $4,000. They
have since been onered $l25,ooo within TWO weeks
Charles @. Havens, George H. Peck and Joseph H.
Goodwin purchased about this period four lots on
/ Eighth avenue for $72,0oo.
| John II. Sherwood ana others purchased from
Thomas A. Vyse, two parcels one oil thirty lots on
Sixth avenue l16tA ana 1l7th streets and the other
OF twenty-six lots Sixth avenue l1sth and lleth
| streets. Tor $780, 900. MI. yyse paid The November
Four lots on the corner OF Eighty-seventh street
ana Eleventh avenue sold for 500, 600, and mmedi.
aeIy resold for $22 Oo0 The first seller purchased
| them IN April, 1871. for 81, $50.
The above are but instances OF appreciation re-
| sultlng from SPECIAL movement conducted by
shrewd and strong spectators IL Is proper 10 say
In this connection, remarked TO the writer by
| gentleman OF experience IN real estate matters,
that both Boulevard property so-called and Fiitl
avenue properly within the lines heretofore desig-
FANCY PROPERTY
and TO borrow the sim1le then made hold the same
relation to other city real estate that a horse like
Dexter does TO an ordinary trotting horse. There
are those who want sucn property and are willing
pay any price Tor IT, irrespective OF relative val
ues, hence there IS Always market Tor It, and It
Is ali III strong hands there no danger OF It's being
precaon IN other directions This is true. in fact,
Of all CITY property which IS in the hands OF parties
able TO carry 1T, VINO, Notwithstanding any tempo.
rarv crss that may arse TO the great loss ana
perhaps ruin OF weaker holders, afford to be in
different 10 its effect and wait for the re-
turning tide OF appreciation. That there Is TINS
EBB AND FLOW IN REAL ESTATE VALUES,
the same as In other departments OF speculation.
there can be no doubt and that for couple or years
back real estate IN this city has been on the ebb in
respect 10 prices there is very general conviction.
Certainly TINS Is true OF improved property, as wit
ness The very considerable decline in rents last
spring. There is also SUFFICIENT Tor this
dition. At the close OF the war, with a redundant
currency ana new class OF milllonnaires, whose
business being suddenly dwared by the termination
the large armies they naa led and clothed armed
and equipped for four ears great deaf OF surplus
Gus directions Part OF this went on the Stock Ex.
change while considerable portion found lis way
into real estate. producing rapid advance and
continued Tor some time, the market growing in ex-
citement until 1t suddenly dawned upon the minds
gaIvanlze it into further activity BY means
and the the condition has since s" been been one si'eo Of
almost complete stagnation. BUYERS growing
Obliged to sell to do 50 at cen
cession. The heavy purchases OF the ring in the
meantime maintained degree Of nrmness IN the
market which limited offerings, and with the ex.
restricted scale. This has been the Condition Of r. the
market for the period mentioned until recently,
when
THE DISCLOSURES RESPECTING THE RING,
creating a suspicion as TO the legality OF transfers
made TO and from its members, provoked increased
uneasiness in the market and buyers have almost
withdrawn. Such is the state OF the market to-day.
Actual sales are few and bids rarely approach nearer
than seventynve per cent OF the valuation or two
years ago. The transactions have been TOO few yer
10 furnish such evidence as would establish this as
the rule, but such Is tue prevalent feeling In this
connection 1t may be pertinent to remark that the
success or the OF the Sponord estate on Wcdnes.
day was, IL IS said hrgely attributable the pre-.
r. VI ca I'm fha
present temper OF the market such prices could not
have been obtained.
tanty, the influences likely to operate. and upon
which any Judgment must be pc based, being in !
the condition OF the money market, any undue strn.
gency IN which would be severely felt bY weak |
three wears ago was sold under mortgages OF sixty
per cent, many OF which are nov maturing. or I
likely in q sa
either the same percentage or the same valuation
REDUCTION OF TWENTY-FIVE PER CENT
Guired upon , which sv y per r. cent WI, be the maxi
directly to improved property, the income from
which has decreased in this proportion, but
gree In the case Of non-producuve property
excepting special lots. upon the line OF or adJoin.
ing improvements producing constant and steady
appreciation. Again. the business OF the past
couple OF years has been unprodtabe to most OF our
reduce the national debt have Withdrawn much OF
the pronts OF business from the shopkeeDer ana
plus income from trade sources Here, then is one I
great source OF weakness which cannot be got over
and which must eventually work o decline.
There are, OF course, those who hold
DIFFERENT VIEWS
from these but except an abiding faith in the pros.
pcrlty OF New York, they have little to support their
theory. In respect to the fu.ure OF New YORK real
estate looking bevond the present period OF reaction
that in time another reaction Will come which Will |
hit them stl higher but 10 the meantime the signs |
one, and that activity at all come real estate
must go down further before IL will go up. We are
movement as the past history Of the market shows
TO occurred The situation Is altogether offer.
ent In the irst place tue issue OF government ana
meat has relieved US Il the danger that formerly
presented itself In the stoppage of bank,
while the more liberal disposition now prevailing
In business circles, ana which often enables a |
man when In dlt1cues TO enter into such arrange.
ment with his creditors, without publicity as viii |
permit him TO continue IN business or retire without
q crash reduces the chances VI panic below con-
sheraton. In our view, then, Of decline In real
estate we see
NO SIGN OF DANGER
or even excitement, but regard 1t more In the light
necessary 10 place real estate on par with other
values tnat have appreciated In turn since the
Uptown Property and Public improvements.
The value OF uptown property has increased 10
proportion TO the advance OF public Improvements;
hence it is matter OF great interest in this connec-
ton to know what Is beng done by the city authorl.
ties to improve uptown property by grading, level.
ling and paving the streets; laying out roads and
bouevards and preparing for the work OF extending
and building up the hitherto
WASTE PLACES OF THE NORTH END
OF the metropolis. The works now IN progress and
which are under the management and control OF
the Department OF Parks Sixth, Seventh, Eighth
and Tenth avenues above l55th street, avenue SC.
haitian street, from avenue ST. Nicholas to North
River. The west line Of the Park Is adapted to the
new grade on Eighth avenue, where large amount
OF filing Is required, ranging from four TO twenty
feet in DEPTH Ths OF course, eevates the properly
on the west side OF the avenue, giving 1t an over.
look into the Central Park 1t is intended by the
Department OF Parks to improve Kingsbrldpe road