The New York herald., 1872-10-21
The REAL ESTATE MARKET.
The Constant Appreciation Of
Property Here.
What Is Doing-The Boulevard the Ground Of
Speculation Of the Period and in the Future
West Side Growth and the Broadway
Widening and Particulars
What the Writer Knows About
the Present Condition Of the
Market-The Metropolis.

Market-The Metropolis.
The two most important points In regard to the
real estate market OF the present time are, was
mentioned here in the early part OF the season,
rapid transit and the widening OF Broadway. In re-
gard to the first mentioned there is satisfied feel
ing among real estate men that Mr. Vanderbilt VIII
push forward this enterprise with that same energy
and persistence that has characterized him through
out life and advanced him to his present opuence.
The preliminary work OF surveying the route has
been already performed, and the great pecunfary
resources which Mr.. Vanderbilt can command, as
well as the fact that the building OF the road is cer-
tainly to his interest," give additional assurance that
no time will be lost in securing its completion The
opening up OF this highway Will bring at once into
close communication with the centres Of business
the upper part of the island so that 120th street
may be as near to the City Hall, in point Of time,
as Twentieth street now is. In regard to the
BROADWAY WIDENING
there is feeling among west-sde property own
ers that there is necessity to push it to its ac-
compshment. They argue that this part of the city,
in the absence OF such attractive avenues Fifth,
Fourth, Third and Madison, Offering convenient
and pleasurable access, has been retarded in it's
settlement. and hence the population has not
sought dwelling In that direction in the same
proportion that it has on the east side. The
obstruction at the present time seems to be in the
appeal OF one Thompson, property owner on tho
line or the proposed Improvement, who has made
appeal from the Supreme Court commissioners
here because OF an insufficient award. Ihis appeal
will come before the higher court in u short time,
and whatever the result, either in sustaining or
reversing the Judgment given below. win, in settling
this anxious question: give great impetus TO the
movement in real estate.
INVESTMENT IN WEST SIDE
property is also delayed by the uncertainty which
exists concerning Riverside Park, in consequences
OF an appeal made in objection to the appraise-
ment. Notwithstanding this however, it is in this
direction that we observe the greatest interest IN
reul estate. The rapid progress OF work upon the
Boulevard and the remarkable attractiveness
which the almost completed section shows indf
Gates that property this line adjacent thereto
will have for capital strong inducemcnt for in
vestment. Tins has stimulated % desire to get
control OF 1t among thoughtful operators, who,
watching the tendency Of the cty's growth during
the past few years. perceive its future direction.
New York, in spite OF all rivalry and all efforts at
divefting trade hence, is the social political and
FiNANciAI CAPITAL OF THE NATION.
1t is this latter advantage which gives IL its pres
rivals. Boston, Philadelphia, Baltimore and other
cities OF the scaboard may struggle as they will tn
obtain railroad trainc Through their streets, but
While they compelled to draw their bills OF ex-
change on New York this city will maintain its
higher position. 1t ia not with any intent ORE
attention to the tact in this connection, which they
must admit themselves, that social pre-eminence
and as London, Paris, Berlin, Vienna and st.
Petersburg can give certificates OF merit in
represent rep sent as capitals SO can 'as New York.
Besides that there Is an increasing ten
acquire cnse IN Other parts Of the Onion te
seek here that higher culture and greater rehne-
ment with all the ,opportunes @ for It's indulgence
character, can afford them. No city in the Union
offers the same variety OF amusement, whether it
be light and frivolous, artistic or deep thinking.
For instance, we have twenty-five places of amuse-
ment open. every night almost the entire year.
many OF which offer attractive programmes that
include in their turn, the best talent OF the world.
We have our art galleries and many collections Of
choice masterpieces which are open 10 the request
Of any respectable applicant and the constant as
semblage OF distinguished visitors. These are
some OF the causes which assure of our con-
and which, In silent way, influence capital In
this direction in real estate Investments.
FOREIGN CAPITAL
has been particularly active recently in seeking Op.
pOrtunity OF investment OF this kind. Among our
Israelitish and German fellow citizens there is n
particularly strong disposition to secure favorable
opportunities OF this kind, and as the class who
people ard may be regarded as representatives Of
houses abroad the inference Is that there is an in
guard ourselves carefully, may occupy the entire
island During the excitement in Fifth avenue
rapidly, this class were among the principal buyers,
and among those OF them OF o lower social position
theIr accumulated 0ntS In corner groceries ana
other occupations Of the same character are mostly
Invested in real estate. From these east side prop
erty Ootained It's activity last year. and as they
buy TO hold, and have occupied almost the entire
section not already purchased by Ring capitalists
we find little activity there.
THE MORAL OF THIS
IL to be found in the steady appreciation OF reaI
estate on this island. This may be seen from the
following estimate given by capable expert OF the
prices at which Boulevard property mag be fairly
set down.
From Fifty-ninth to Sixty-fifth street, where the
Boulevard joins Ninth avenue. lots are placed at
from $50, 900 to $4,000 each-recent sales establish
ing this quotation
Above Sixty-nlth street to Seventy second there
Is graduating price which places the maximum
at about $4,000, and the minimum at $4,000.
From Seventy-second street to Seventy-ninth
street. still on the Boulevards, the quotation ia
1926, 900 to s2o,00o
From Seventy-ninth to Ninety-six street lots
are variously estimated at IRON $50 900 to $1,000
From Ninety. sixth street to l10th street the
estimate falls again in due proportion until it
reaches $4,000 to $4,000.
From 10th and above lots range from S12, 600 to
s7,500
ON TIE EAST SIDE
a recent sale produced for seven lots at the
corner OF Madison avenue and Fifty-ffth street
$2l0 000 being an average OF $4,000 per lot. is
Gently offered and refused for an inside lot on Fifth
avenue between Fifty.ninth and Sixtieth streets.
There Is
NO PROPERTY OFFERING
OF first class character. The inquiry is greater
under the peculiar conditions OF Presidential cleo
ton ana the recent local disturbance In our moneH
periods OF a like character. All property offered
below Its former price commands ready accept
ance and the confidence OF moneyed men IN the
future Of this % nck y me AZ .ns any
Gel OF New York real estate tnat may DC onered any
way cheapy.
BEECHER TO THE RESCUE