Year: 1869

Every day the real estate market approaches
nearer IN its practice 70 the stock market, thenume-
rous operators In the latter Who thoroughly mbned


with ITS traditions have by reason Of the opportuni-


ties for successful speculation oered In the former


been tempted to enter into Il as dealers, bringing


with them their old habits OF thought and action In
ducing this assimilation. Thus in the stock market


there are certain leading shares in the several lists


such as New York Central in the railways Tor Erie in


times OF yore) which serve to some extent as


eters, indicating in their course the general char
acfer and tone Of that particular class OF


securities, and in fact to great extent in the case
of very prominent stocks of the whole market The
law OF sympathy has nowhere such prompt exhibi-
tion,D decline in one OF these barometers being
generally followed by weakening OF the whole list
and its advance by corresponding activity.


similar relation is noticeable recently in the real


estate market Throughout the early portion OF last
week, under the loud warnings Of dangerous inna-


on. and the predictions expressed in many quarters


OF the approaching reaction there comparative
lnll In the excitement In the market and manifes


tatiop for the first time this year OF considerable


'bear" feeling. Stimulated early In the week by the
reserved character Of the bidding at the auction sales
the market to great extent lost IT'S buoyant tone
and transactions fell or quite considerably. 1t was
noticeable, however, that this disposition to dis
count possible reaction in prices was confined to
buyers holders Of property resisting any abatement
from the best previous figures and preferring to
withdraw their offerings rather than cell at conces


sions The market re NAMED thus through the
greater portion or the week steady with conserve


tive feeling. many contracts in the private market
holding or through the differenL views OF tine par
sies bidding and offering, as 70 Its future until
sale OF West side lots by Muller, wilkins
Co. demonstrated the pressing inquiry for
that description OF property and IT'S continued asccn


sive course. comparison Of the prices obtained at
tnat SALE taking into consideration difference in sit


previous ses Of nehernr o exped @
appreciation, while on the same day. proving 1t to
be not exceptional, Messrs. Bleecker SON Co sold


couple OF lots OF the Taman estate, lying further


west for the account of the former purchaser the
recent sale OF that estate at considerable advance
down. the effect OF this sale was Immediately felt


In the market In q feeling OF restored confidence Rnd


the closing OF many contracts previously held IN


This west side property occupies much the same
relation 10 the real estate market that New York
there can be no doubt that the influence Of Fridays
sale Will materially stimulate activity in all direc


tlons; u Is true there are causes operating mere
property The location is rendered more valuable
from the opinion that this region will be the uti


dents will be driven from their present
na6itations by the, crowds Of commerce


western vicinity Of the PARK, Which is far
more adapted for private dwellings, These lots are
IN the neigfborhood Of all that is attractive In the
island. They are within easy reach OF the Park,
in the immediate neighb0rhoOd OF the Grand
Boulevard and near to tine Riverside Park which is
designed to grace the banks Of the Hudson river for
three miles on the river side. They Wi, thus COM
mand the most beautiful drives and promenades
that Aanhatten can afford, and viii be certain to
may result from the increase or population, wealth
and commerce OF this great progressive city. Be
q value that win preclude the erection OF
any but first class buildings. SO that there
can be no innovation detrimental to its high
annOyances, nearly ali OF this property Is sold
under such conditions as 10 well secure the locality
against all nusances. The lots, too, are mostly on
high ground where the atmosphere Ia pure and In
vRorating and the grading and sewering II IN pro-
gress. The nelghbOrh0od II easily accessible from
the city, rom Harlem and from all other parts OF the
island. Az an investment these lots well worthy
the attention of capitalists and no property on the
island Is more likely to be more profitable to specu-
lators; for the recent large sales that have been
effected in this locality win be sure to tend 70 I'M
mediate improvements and very early occupation
OF portion OF the sites. "M


But ali these superior advantages are well repre-
held ST as oer
ues-such, for example, as Westchester county aud
Brooklyn The very interesting report OF Comptrol-
Ter Green to the Commissioners OF the Park oxplana-
tory Of the manifest destiny OF the former district but
expresses fact recognized long since by real estate
In the direction OF Westchester county. The move
meDt OF population has already extended through
con6gnration Of which has permitted an extension
OF ihe west slde OF several miles more than has been
possible on the east On the latter the Harlem river
operating barrier TO the further removal or the
cIty's population, has damned up, a. it were, the
stream OF metropolitan life as 1t flowed north
wardly and caused that difference which we see
IN the compactly built districts OF Harlem and
Yorkyie and the sparsely settled neghborho0ds OF
Csrnansville and Manhattanvllle. The movement
OF people 10 the regions OF purer air and health


Ter surroundings is becoming more noticeable every
day, and the southern extremity OF Westchester
Harlem river Is being rapidly overrun and turned TO
their uses. In view Of the many contingencies OF
Pacific Railroad in this direction the opening OF
Hell Gate and the sure absorption IN the great CON-
mercla metropolis OF the southern half OF Westches
county n Is evident that this apprec4ative move
ment Is MS yet but in ia infancy; hence, whatever
may pe The attractions OF other localities for specr
lative enterprise there IN none which Offers better
Inducements for permanent investment than West
chester county. stes +.


Under the operation Of these Influences property In
this quarter has become prominent feature OF the
real estate market Numerous sales have been held \
this year. at all Of which apprecIatlve prices
estate values IN other quarters, stimulate AMI
mated speculative movement. The active inquiry
existing Tor this description OF property IL inducing
other sales OF large parcels, and prominent among
these we notice the sale announced for to-day Of p0r
tion OF the estate OF Lewis o. norris comprising lsi
lots, situate In the Immediate neighborhood OF tue
Central avenue. on the east side, and two miles
south Of the upper end OF New York city.
qure but little Improvement in preparing the
streets for the erection OF houses, street WA
verey street, beng already nnished. The surround.
inrs OF this property are 50 well known as not 10
require particularizing, and, with their many ad-
yanages, these lots cannot fan 10 ind ready sale
From tine Interest that has been excited respecting
this property and It's representative character the
result OF It's presentation under the hammer cannot
fail TO have an Important influence upon the Market
second only 70 that OF the sale previously commented
upon. N Fa Na aNAN


This viii be the opening sale Of the week
OF noliceable Importance on Tuesday q
portion OF the estate OF the late John Low,
comprising two entire blocks, bounded by
Sixtieth and Sixty second streets and Tenth and
Eleventh avenues, and 100 Prospect Park lots the
corresponding favore location ia the sister city to
west sde.n Will form the attractions OF the list
ON Thursday thrty-eight iots OF the "Bcekman
tracr situated the west side OF First avenue be-
tween Fitieth and Pifty-1rst streets, and on the
north side OF Fiftietha aud on the north and south
sides Of Fltyrst Streets between First and second
avenues, and $50 lots al Woodhaven Centre, mile
beyond East New York, are TO be the features In
addition 10 these sales there ewill be the usual
s0rtment OF other property. both improved and un-