New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-04-19
REAL ESTATE AND RENTS.
CITY AND SUBURBAN PROPERTY.

During the Winter months the real estate
market inactive All owners and operators have
looked anxousy FOR Spring, hoping its advent would as
sipae the duncs long prevailing, and that the mar
kct would exhibit more activity These hopes have To
some extent been realized and the market now eNbis
more animation than for some time past. The time Tor
the annual oycrturnng of households is near at hand
and thousands are now, and will be for the neXtfew
weeks seeking places Of abode for the coming year
The approach of the LIST Of May leads TO great
deal of inquiry for property both to buy ana to hire
In view OF the general interest in the subject OF rents
and the prices Of real estate facts and III have
been carefully collected TO guide the readers of Tue
TRIBUNE i'll the selection OF new homes.
CITY REAL ESTATE.
The market for city dwelling property, though some
what active shows less animation than that for
unmproved lots and property in some OF the ncigborng
cities and towns. The great imitation OF two years ago
more apparent in property this island than else
where thc reaction here has been greater and has re-
qured moro time to overcome than that which took
place in property In the vicinity. At that time specu
lative mania possessed the public, and wild purchases
were made. The prices paid far beyond the in
trnsc value Of the property Purchasers have, in gen
era been unable to obtain what they paid. Instead Of
advancing, they anticipated, property in general
steadily declined. until in order TO SELL loss
Of 20 to Is per cent had TO be suffered In some localities
property did not deprociate perceptibly, but in
above. This percentage OF depreciation probably
fairly represents the extent Of the undue initiation Of the
period referred TO, and deduction OF that amount from
the prices asked years ago must be made TO
the present value of much of the property Of
ferod The purchases made almost entirely for
occupation either for dwelling business places there
being little speculative demand Well located property
having special advantages in the line Of projected
improvements when sold within the past few months
has brought fair prices in few instances higher than
ever before. These instances however, must not be
taken the rule The property which has been. until
lately tho hardest to sell, il such may be termed
fancy the high-prced Boulevard and Central Park
lots so eagerly sought for during the period Of excite
meut The lots at the Northern end of the island
at time very eagerly sought for and sold at re-
markedly high prices. But little has done during the
Winter in this class OF property but recent auction sales
have demonstrated that good demand has again arisen
for wclocated lots.
OF the ultimate profit Of investments iudciOusy made
this island especially those portions of it where prices
are still low there is but one opinion among those
petent judge. In the long the Investment will
pay. The growth Of the city, II faster than eX
hbted by the last census must advance values to
render iudciOus investments profitable even at this
time and at present prices But people OF to-day are not
content 10 wait and the great mass rush for investments
that promise speedy and large profits by their en-
beavers TO get sudden fortune they generally lose all
they have and Of ten persons 80 operating. nne per
haps will lose their capital, and the tenth grow rich on
what the nine have lost Others who desire TO invest in
real estate and who know that such investments care
fully made have fewer elements Of risk than any OTHER
hold off, in times like the present, judging that as the
market has a downward tendency, they may make
investments at some future time more favorable
terms Many persons Of small means buy real estate,
and pay only small amount leaving the greater por-
ton of the purchase price on mortgage When these
property is sold very often The amount Of the mort
gage and the purchaser losca he originally invested
II has been anticipated for time past that very
large amount Of property would come on the market
under foreclosure. As yet, comparatively lt'Ie mas Dc
so off red the unusually easy state Of the money market
enabling weak holders TO carry their property.
Values this city subject 70 as many changes as
wears ago were entirely devoted to dwelling purposes
have transformed into business places and others
in transition state The change from dWeIiing
To business purposes Of course, enhances values ana
vT9nnrty that has undergone this few years
ago there no stores on union,q1are; now there
are very few dwelling houses Property here has attained
very high prices and ranks with other Broadway prop
cTy. Above UnionSqlirc' tlc greatest tha,tt' INV
taken place during the past three years. The great
retail houses formerly down Town are now con,
centratiug on Broadway above tins point sun
such improvements have acted very avoTahy on prop
eFy II the yI" H IT onorny for mafne the
fortunes OF those in favor with the Ring, ed To consider
change however is that WHEN is Transforming FIFTH
ave- the best Of al Our dwelling street, INTO Sh-
iouabic business thoroughfarc. The paatal mansions
of our richest citizens are fast becoming taors estab
lslmens, print stores, &c, aud high as were values
when the property was used for dwelling purposes, they
are IN leher now The avenue below Twenty tiro-,t.
is fast losing its former character, ana dweiers there
are forced TO Madisonyc FfaNc. near the Park, ana
AUCTION SALES
During periods Of excitement in real estate, auctions
are the favore method Of ccctng sales such was the
case two years ago. Then city property offered in
great ouantes at the Exchange and day after day the
sales room was crowded with nxous bidders. After
while as the demand decreased and sales fell of, dis
crediable practices were resorted TO- which in short
time brought aucion IaGs il'o "a S ,r
less of the Peter Punk business has been done OF late
ful and notable examples have recently occurred
u0ylng that very high prices will be plld al auction
where the auctloneer commands confidence ana tne
property j. desirable. Improved property centrally To-
Gated In the city has within few months Drought very
good prices al auction recent SAFE OF LOT ou5
in The noghhOrhoOd Of the north end Of the Central Park
was one of the successful ever known, ana has con
rii'nted Greatly 10 rci;stabsh faith in real estate.
Bnvers however, very quick in their instincts, ana
if suspicion arises that there Is any bhnnS ~ ule
eS are sure TO prove failures. Owners and auctioneers
viii consult their interests by entirely droounenancnS
such practices in future nothing has done 50 much Ill
Jury TO the market III the past.
CITY RESIDENCES.
I1ouses in New-York, OH the west side, command
hi,,er nrccs than those on the east side. The
wide streets crossing the city are especially de-
srabIe and property thereon DrihGs sood prices
Twenty tlrd-st. is especially becoming center ior
,i,tcre and ,ubc buildings. this street, west side
hetwecu sixth and Scventh-aves. fourstory Drown-
stone house, lot 2sXl2. is held at $1,000 On the next
hInck wet, threc-stOry, brOw-stone, narrow house. Is
held at $4,000 still further west, fourst0ry Englsh
basement brownstone 2OfOot house, Is held az soWo
and wider four story brOwnstone house at the same
price A house in the London Terrace, twenty.
third ST. between Ninth and Ienthayes, punt
an leased property, is held at $1,000, sub
iect 10 ground rent. Above Twenty-third-sf;, the
next wide street Thirty fourth This Is entirely de-
vofed TO dwelling houses and property ia not affected ny
prospective use for business purposes. some portions
"fTftyfourthst are considered very desirable for hrs-
class residences and command very high prices -FOUR
story bruwnstOne house. a feet wide, on IhlryIOufl
~ ietwceu Fifth and SNthaves., IL held al sGoO one
near Park.aye at $4,000; an English basemchi l,IoUt
house near Seycnthaye., at $4,000 ana brlck dwei
iug further west, at $4,000 On FOrty-secondst near