The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-12
REAL ESTATE GOSSIP.
Holders "Saddled Up" and Anxious
to "Unload."
Prices Very Firm-The Improvement on the
Riverside Drive Satisfactory Completion Of
the Labor ON tho Northern Boule.
vard-spuyten Duyvl Ship Ca
nal-Our New Wards,


have had depressing influence upon the real es-
tate market since the present month has set in,
especially az regards sales at auction The fact is,
the land released by the disposition OF three i'm
mense estates-Post Carman and Harsen-has. by
the high rates obtained therefor, IN great meas
ure
UNSETTLED OPERATIONS
Holders Of property have become emDOldened by
the OF these sales and screwed up prices to
tension which, II kept up, must surely snap,
while purchasers, pleading stringency OF money,
abstain from buying until more favorable prospects
appear.
The major portion OF our heavy operators In city
real estare are saddled upn to frightful extent.
and have been endeavoring to "unload.n with
view OF investing other property. 1t is safe to
assert that q great deal OF their property is at
present worth one hundred per cent advance over
the original cost and only the need OF ready funds
can be pleaded for their trying 70 sell. The en-
hancement OF these values may be ascriDed to the
rapid improvements going forward uptownward.
Most noticeable, however, is the
STEADY ADVANCE IN PRICES OF PROPERTY
located in the vicinity OF Riverside Park Since its
establishment. by legal edicts the energy OF Com
missioner Van Mort has been manifestly shown In
the rapid progress made in the work. AS soon as
the weather becomes settled Mr.. Van Mort viii add
manner secure its early completion.
While few old fogies deprecate the idea OF
opening and widening streets go-ahead citizens
are alive to every Improvement in this direction
and cheerfully contribute the assessments levied
ON their property. The establishment or
THE NORTHERN BOULEVARD,
running rom 155th to Inwood street, Is an exam
ple The commissioners Tor this work-Messrs.
pleted their labOrs, and are about rendering their
report to the Supreme Court, which Mas appointed
ments have been made with degree OF equity
which is not only marvel OF rapid accomplish
ment, bu: has called forth the utmost satisfaction
of the property owners on the line affected by the
Improvement The very few who felt aggrieved
by the supposed smallness Of their awards
have become contented since their cases
were plead by able counsel and the course
taken by the commissioners explained to
them In fuli. on Tuesday last the Commissioners
went over the line OF the Improvement for the last
time for the purpose OF adjusting such OF the
awards and assessments as had been objected to
alterations were made, where a personal inspec-
ttOn OF the property showed that from some local
provement as it would have been were it Inherently
situated geographically. The property owners on
the line being fully assured OF the good Judgment
and integrity OF the Commissioners, did not at
tempt to 'fnterview" them or influence their
decisions by winning or dining them, so one of the
American Jockey Club, took the party over to
Jerome Park In his own carriage, where they OBJ
ons sSod As stated s by Us II pre-
OtsheH to this city +%A
A GRAND AVENUE OF uNrNTERRuPrED TRAVEL
complete the triumph, an extension OF the same
road should be carried into the newly acquired ter
This, however, is sure to follow.
The manly course taken by the New York Cham
Der Of Commerce In regard to cutting
A SHIP CANAL THROUGH SPUYTEN DUYvIL CREEK,
rom the HUDSON to the Harlem River, and pressing
action thereon in the Legislature, is an augury
that our merchants are fully alive to the i'm
pOrC0nCe OF this grand measure. We only
hope that our lawmakers VIII act on
1 SNs their
be completed at the earliest possible moment. Our
rapidly increasing commerce with the West i'm
boring cities are straining every nerve to deviate
this trade from our metropolitan channels.
THE EFFECT ON REAL ESTATE EITHER SIDE OF THIS
BY this undertaking would be OF incalculabe bene-
NJ, and u Is safe to assert that, the necessary
required Tor its construction would be readily SUBJ
scribed by the proprietors OF the land affected
thereby. Still, the State is the proper party to
father such an undertaking, in order to control so
: important water route, which must enrich our
commerce to the extent Of millions
THE NORTH END OF THIS CITY.
Now that the annexation of Lower Westchester
Is an accomplished fac:, it becomes our duty to in
augurate energetic measures looking towards the
improvements OF the new wards. First and FORE
most, proper provisions must be made to introduce
this there are several courses open from which to
obtain the same The Bronx and Sawmill Rivers,
led BY numerous rivuets and rocky rills,
pose. It will be next to Impossible to
meet this demand from our Crotch aqueduct. The
the water would not be sufficient to raise it to the
required elevation. even If the wants OF the lower
obtained from the Croton River This subject win
seriously engross the attention OF our authorities
not little; but the expansion OF the city will be-
come so rapid and property enhance in proper
ton that any expenditure In this direction must
be- after all, mere bagatelle.
usvt tin
Winter our citizens who are not members Of the
sCan't-get-away Club' are looking around to
SUMMER RESIDENCES IN THE SUBURBS.
Along the Hudson seems to be the iavorIte loca-
zion for those making an exodus during the dog
days. With the establishment of rapid transit
suburban residence in Westchester will secure i'm
munity against summer travel and those now
ns Ea to where
they can dwell at all times OF the year.
RAPID GROWTH OF YoNkERs.
Each OF the proposed routes Of fast travel has
had its terminus fixed at Yonkers. This Is as It
should be, and everything taken into consideration
tunct to this great metropolis. Possessing popu-
lation OF upwards OF twenty thousand, Yonkers
contains facilities to more taan double this number
within the nextdve years. great many OF the resi-.
dents are engaged in business in New York, and can
calculate with more certainty on the time travel
tricts. Real estate in Yonkers has increased in
value within the past year to . fabulous extent.
SnS or tSrss Ts so aoS for @
main streets, such as Broadway aud Warburton
avenue, as high as $4,000 each. The Com
mon Council Of Yonkers are displaying
spirit OF progress In laying out and improving the
streets and avenues which largely conduces to the
rapid enhancement OF their lands. few years
ago well known and successful theatrical man.
agcr purchased Ill lots at very low rate His
metropolitan experience taught him that to Law
out streets, curb ana gutter the same and other
wise improve his property would be the best posi-
Bile investment he could make. He not only car
ried out this project, but he built twenty-three
elegant cottages, which are now tenanted, and his
estate has thereby increased in value-wortb i'm
round numbers, about one-quarter OF million dol
lars.
The following are the public sales to be held at
the Real Estate Exchange during this week.
By MULLER WILKINS AND co-ruEsDAy, MAY l3
brick store and lot. lSl Rcade St. q 2x5l.G
WEDNESDAY, MAY IA,
(By order Of George De Forest Lord, refereel
story blk stores Nos 922 ga 926 923 and $50 Broad