The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-15
REAL ESTATE AFFAIRS.

stagnancy I'm City Property-Transs
formation OF Bulls to Bears APPLY II.
lustrated-The Reason for Solid Prices
ON Manhattan Island-Great Activity In
Suburban Reaity-The Marion IN. JJ
Sale To BE Continued ON the 18th Inst
Important Auction In Westchestor To.
Morrow-The Industrial Exposition an
Established Fact-New Directors Ap-
Professionalism.
But one opinion exists In relation to real estate
operations at present, as far as city property Ia
concerned and that is to the effect that business
Is very dull. The sudden change in the weather
Is about the only cause that can properly be
ascribed to this stagnancy, otherwise we might
have had an active market until the 1st Of July.
1t is o singular fact how rapidly operators
in real estate can assume chameleon positions.
They
CHANGE FROM BULL TO BEAR
according to the matter of trade on hand. II one
OF these gentlemen has property to sell ne
transforms himself into the Taurus, and
holds his possessions at fabulous rates. This s, OF
course, natural, as he is playing for heavy adj
vance. and everything in the shape OF lots In the
immediate vicinity OF his property looks very rosy,
and he scouts the idea of any decline. The real
estate writer is beseeched with all kinds Of sug.
gestions concerning the brilliant future Of the
three what immense enhancement in value must
naturally follow the fact Of his being the
fortunate owner of the Identical realty. Now
reverse the picture. The same gentleman has
been lucky enough to ''unload" portion Of
long held property or the Improvement by opening
a new boulevard has brought him several thousand
dollars award, which he Is anxious to reinvest.
He finds plot which he deems suitable and deter
mines to buy. AS If controlled by magical wand,
THE SPIRIT OF POSSESSING
transforms the bull of yesterday into gr0wl-
ing bear to-day and no matter what valuable
lots are offered to him at standard and esrab-
lshed prices, he grumbes at the rates, and
at the same time forgets that but few hours
previous, If he had had the same lots, the pro.
posal thus made to him would have been spurned
with disdain But spectators in this line are not
blessed with good memory; they .generaly forget
| what they don't wish to remember"
| There are cases, and, unfortunately. many Of
| them, where holders of real estate on Manhattan
Island demand for their property rates largely In
excess OF the already high proportions, having be.
| come inflated with the many
SCHEMES IN EMBRYO
| for city improvements. AS general thing, how.
| ever, these owners are wealthy and can afford to
carry their lots for an indefinite period to come,
| without becoming embarrassed by the cumulative
| taxes and interest. For instance, we know OF
block of property, owned by gentleman Of large
bounded by two streets. The owner will not sell
| under any circumstances, yet he wants to lease
but places the value Of the estate at the enormous
/ sum OF 100000. Any man who can see hts way
curiosity deserving OF niche in the Central PARK
We endeavor at all lines to quote values Of
| PROPERTY AT ITS ACTUAL WORTH,
and only after due consultation with experts in this
line and miss opportunity to denounce fictitious
transactions which may tend to mslead the public.
The marked prosperity Of our city and the circum.
scribed limits OF Manhattan Island have enhanced
values to an enormous extent, but it has been
healthy advance: A wealthy man wants to live IN
! grand style and in choice neghborhood. We
Park, only one Central Park avenue west OF OUT
| grand Garden" and only one front each way on
the newly established riverside Mornngs1de e and
either OF these parks not only possesses plot Of
ground 25xl0o feet, but Las included therein
which eS'e Cannot 5e oSstracted from MS View ana
costs him nothing to maintain The adjoining
value derived from the solidity Of the park fronts
and naturally becomes enhanced by being located
4 in q restricted and fashionable locality.
City real estate during the week just closed has
not been remarkably active. although some few
good sales have been made, among which we may
note the new four story high stoop brown stone,
No. 33l West Fiftyeighth street. sold by Mr.. " K.
Stevenson, Jr, to Mr.. A. Backer, for $4,000 Sew.
eral other sales were made by leading brokers, but
/ have not been reported.
The great activity in property at present, and ~
| Is usual in warm weather. Is in the suburbs. Most
of these realty sold at public vendue, and the
past week has witnessed number OF them made
to good advantage: on the 18TH inst. we published
! full account OF the great sale held by Jere.
Johnson. Jr., and j. NJ Gibson, at Marion, N. J., AT
/ which eighty-eght choice lots and several cOSey
cottages were sod out OF the 927 lots and twenty.
| six dwellings, besides the fine st. James Hotel.
| AS twilight approached this sale had to
| be adjourned and from our advertising
columns we notice that W ednesday, the 1sth
| inst, at noon the continuation thereof will take
| place on the ground, when this property will be
| closed out II possible. The Marion Land Ass0cia-
ton. to whom this real estate belongs, are about
dissOlving, and the sale is in partition to erect
| this object. We have fully described the locality
before. and can only add that rapid transit brings
| this place within eight minutes OF the COrtandt
street ferry, that 1t belongs to the Fifth Alder
manic district Of Jersey City and is supplied with
| gas and other modern Improvements.
Tomorrow the most important event in suburban
property occurs, being no less than the sale Of 800
city lots In WeStcheSter county. The property
selected is a valuable tract on Wo0dlawn Heights,
| handsomely located the ascending slope OF
the highlands on the west bank OF the
| Bronx River, at the junction OF the Harlem
| and New Haven Railroads. near Central avenue,
Jerome Park and the station of the New York,
Forty-second street depot Is but thirty-fve min
utes. Additional attractions as q speculative In
vestment for pretty homes attaches to this prop
erty from the TACT that by the Annexation law It Is
in the Twenty fourth ward OF New York city, and
directly on the line OF advancing improvements,
commanding from $1,000 to 81 500 per lot in choice
locations. The property is sold by Jere. Johnson
Jr., per imperative order of the owners ex-Mayor
George Opdyke and Edward X. Willard, Messrs.
Potter Brothers acting as agents. As Ii Is really
city property, and will sell at country prices.
the results OF the sale will determine the tone and
character OF future operations in the county.
FATALITIES In NEWARK