, 1873-11-23
REAL ESTATE,
Tho Effects on First Class Resi-
doncos Of tho Diminished
Cost Of Building.
Recent Sales Of Residences and Lota
On the Avenues,
Reduction in Prices Of Cheap Lots and
Suburban Lands,

Suburban Lands.
Sales Of Lots and Acres in Variou,
=. CHARTERS This Week.
Ihero Is an impression ip Home quarte1a thai
IN important decaino in the priccs aud values
Of tirst and mediun1-clhss residence property bas
boen experienced ss 4 result Of the financial
panic. a decline has undoubtedly snken plaoo,
but not to the extent believed by many, and no.
directly tho result Of any general doclinco In tho
vnluo OF roal oasate. Tho principal cause il tho
tu tho cost Of skilled labor. Good brick
ran now DO had for 81 Per thousand.
against $40 and 912 Inst spring, and contracts
can now bo made for brick laid in
walls ut s1t or ovon $40 por thousand for tho en-
Tire coat Of materials and 1abor. Tho reduction
in tho cost Of materials and labor On othor parts
OF buildings than tho wafls las not boon so
grcat. but, on tho whole. tho cost Of building
may aafely bo asaumod at 25 pcr cont lesa than
1t twaa lnst spring. Here ia reason for large re-
dlctton In the prices Of dwellings, ia compared
to lust spring, independent Of any reduction II
pricen Of ground. In some iustancca Of rccont
ealcs OF residences tho reduction in prices has
undoubtedly hacn grentsr than the reduction In
tho cost Of building but In every auch caso It
Will DO found that there has beon necessity on
tho part Of tho seller to havo cash, aud that oil
salca inade at any great reduction of prices 11ayo
been for all CASH Instead Of tho usual tolms, In
tt1ncs or panic and pressure, slch as laye boon
experienced during tho Inst two months. de-
manh for all cath, in tho salo Of any property.
Which Is usually sold on time Of course, demands
All unusual reduction In prce to make 1t an
inducosnont to tho buyer.
Ten days OF so ago, two 1narblo-front resi-
dencoa On Wabash avenue, north OF TYenty-
third street {Nos. 1ol8 ss,d 1o2o}, wero sold at
public auction BY tho assignee Of d bankrupt, at
what was considered tho groatost reduction On
former rrlcos that has boon experienced la auy
instance this fall. Tho houses aro stone fronta,
throo stories, 10 or II rooms, and stand On lots
81 fcot by ia feet each. Real cstato dealors
think that from S12,50o to $4,000 each would
have boon FUR prices for tho houses before tic
panic, but when aold at suction for all cash thoy
only brought about $4,000 each, a reduction OF
30 per cent Oh the value OF both buildings and
ground. All important circumstance, how
over, in this connection is that tic
purchasers get no warranty Of title
Tho sale was nado by m order Of Court in
summary proceeding. tho assignee bring ,,;rccte1
tn ssfi tho nronorfv oa f.oo rn1 LIZ. - ~.
cumorance, though thoro is yot somo doubt as to !
tho power Of tho Court to order Ralo which
would cut OF lions, without any previous pro. |
coeding at law to determine tho riehts Of par- !
tics. There werc Judgments against tho bank |
rupt that woro lions on the property and the
judgmout-crcditora wcro not oyon served with
notice. Moreover. the title to mart Of fhe nroo |
or, h; l., H., 1,., w. "'4' ~ |"o PtoF-
fho,aIt h no nausasor ana u III
abonJ hnyo ,raca1n3 the ss1a s.tnso,I,,sa ~ " "a"
aaurhtcr's intnroat' ' '"''' " o0''fn"'no tho
VA n,ent,on tho nort;c,,.rs - 4,,o
because many nartaa In vn, M Luz a5oxe sale
tho fact that tho sale conveyed no warrsntv l ill.,
aomewhcrc near SO ner cont oo tha ,rieaa ~ q
Central f;rstclaaH residcnoc ~ ,u pt'ce8 OF al
But whio It il veil % uuderatooi nnpJ't th.t thor.
nles Of this MS we'll as othor oassos Of bon psoesty
Tie owners for casl, oao fhcm =. ,n r., ot
rcdnctona ~ 1,rcas +nss Gns' .nel 60 inaRe great
rule, and do not establish tha fact t' nf ps ss
general reduction In priccs II Reai IT, eatato H aiy
nut m the mnrt,t XIX sn21 ,t taa. can 20
What or corn ~ ;ro ar ~ s5tu , ~ any tlno hke
t:cl. That ia cnnsnmoj tm1a 5eJ' 5JgJas' or any a.
tate WHO expects 10 got a Value IN any l,m Lus af
c,,gtoruor ,rho ,n1nIs IL nn,,ns ~ MEeh tno
tin Mi nricr, '' - '0A4o'' Nv bonelsAS pays
cou,1io NJ wsok. ,oo ,,ond.o.nn
and baspmont hrjct1 yso ~, IT, Iwo.ssory
Wabash ayonun so,h ~ o "es. a!ae o.
IN az ~ ~ ~. e " stroet, With
;nr iusf thn ccao tiot a ~ ~ S4oiovus tuie uo"
mar s raw" '4A'' -" aeAo" Aof " i@as S"ni~
nno of thu ,r1dd,o h,,.o. T., H..
rhct, ~ ans A. ti,a 1,art1a. ~ ~ olook u 1onf'
ran aycnna and Tw.ntv-a1e s. sornGf o. aiichl~
storv nni hnsonnc,t stnna fto,4 ,n;t, snGee
liz feet wns racently ao,d fnr nm ~ ~ ~ ~
inv a tha jonso y"a un,nosa ~ ). 11.ouu. LUIS be
tnmmor "NS'o "1' a"Pp'so3 W We "ottn 4ass
During TIM laicht of III, rocort o,.n,,,,
lat 4Uxl75 On thn ,Tcst an ~ R3"i.;np panic
nuo. boin- IL foct norti ~ sTst;ot, ~ t,''san ave-
neSt nortT, NJ md n;n;nino Itse'oan M h!tget anu
resideneo Of r. r H"Iimn. W.. w. XXI ta onS n9w
per foot. Mi cash. a;T Scars o,so 1"u agr Taov
That Vicinity on slcIiean avon,o snI1 ptI1p1sS .n "a m
eI00 to alS5 nar foot and nonr r''u ~ LUZ AponL
syerago Of s2i) to seho mar to9t r hEo LOT an
look much ike decline Of prieos. H. ooeg egao nos