The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-12-18
REAL ESTATE MATTERS.
NEW York. Dec. II, 1872

An Undercurrent Making Brisk MARI
ket--rhe Past Six Months TransacS
taons-Hosy Business Men Dabisie im
Real Estate-Money on Mortgage1
Easily Obtained-LeGai End Privat0
Sales.
To casual observer circulating among the reaf
estate interest 1t would appear as If the greatess
stagnation existed in this particular branch o.
business. Those initiated, however. know better
and the readers of the HERALD Will probably Ia
astonished to learn. the authority of the oldess
and most respectable brokers and operators in
real estate, that during the past
SIX MONTHS TRANSACTIONS
In improved and unimproved property have been
greater than during the same space OF time since
new iorh city was first settled. Transfers OF iota
are made daily and hourly at prices deemed almost
fabulous. and yet 1t is said that business Is dull
our banks were disposed to loosen their purse
strings somewhat and allow real estate operators
more margin on discounts, the daily records OF
transfers would be immense. As 1t Is only Inoneyed
men can indulge In the luxury of purchasing real
estate. Merchants. who are doing extensive bust.
ness in their Legitimate line, have been afflicted
with o chronic mania for real estate operations.
These men draw every dollar possible from their bus.
mess and use the latter to obtain accQWRQdati0ns
nom Tie banks, and such operators can be met CON-
stantly who are daily paying from one and haif
to 1--we per cent per month for money. because
shey cannSt Unload snx e sss ysss property
Wnicn tney carry on margin, ana are COM
PEELED to make some OF the contracts good or tor.
felt the ten per cent purchase money.
THE ACTIVITY or THE MARKET.
which we mention above, exists consequently
among men OF means, or business men, carrying
on q large trade, or such others who have q g0Ote
credit with the banks. The best evidence that
good available property can at all times be realized
upon Is that first mortgages can readily be nego-
tlated at from two to three per cent .:second
mortgages, on the other hand command all kinds
OF rates, sometimes as high as twelve per cent.
SALES AT THE EXCHANGE
yesterday were light and consisted OF the follow.
Ing by James NJ. Miller, auctionecr, one lot ON
the southeast corner or Madison avenue and l09th
street. 20x100.11 feet to G. W. Welsh, $1,000; alsG
one lot on the southwest corner OF Madison avenue
and 109th street. 25xlO0l IL feet, to Terence Farley,
ByV K Stevenson b Son, William Trist Bailey,
auctioneer, one lot and a two story frame house.
rne street. 25x50 feet, to T. f. Bayley for $3.50.
This latter sale was by order OF Murray Holt
man, Jr.
The price obtained for the Madison avenue prop
erty above named, though small, all that 1t IN
worth, in view Of the impending heavy assessments
for the extension OF the avenue, filling In ana
grading. Besides that, the lots on this thorough
fare will not be ut to build upon for several years
to come
THE PRIVATE TRAFFIC
OF yesterday embraced an extensive sale made BY
east corner OF Fifth avenue and Forty-nInh street.
33 feet 10 inches the avenue, 100 feet on the sid0
street, besides the stable lot Forty ninth street,
100 feet east OF Fifth avenue, 25x100 for $3.50 00O
by william II. Raynor-0ne lot on east side Of
Grand Boulevard 434.9 feet south OF 138th street.
2411x105; also lots 40 feet south OF the above
each 20 feet front, averaging in depth Oh feet, eacr
lot for $1,000
In mentioning the purchase OF three lots by Mr..
+. A. Sothern, in Yesterdays HERALD, II was In
advertantly stated that the lots were 1853 ieee
OF this IL should have read seventy-SX feet eight
inches on this avenue, by 100 feet deep.