The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-27
Total. SO, AZ, 300 s6,55O ,2D

Increase value of real estate in these four wards
sl7, $40.
large portion Of this increase of value in build
ings however, may be attributed to the cost Of tho
expensive banking houses, warehouses, and other
edifces, which have been erected since the great
fire Of 1885, and ether improvements which have
taken place down town-for it is a fact that there
has been great decline in rents in such streets as
Pearl street. Greenwich street, and other sections
of the lower wards, within the last twenty years.
In Pearl street, for instance compare the rents
paid at present. with those obtained for the same
warehouses in 1892 and 1891, taking the whole
range from Peck slip to Broad street, No end The
decline from fifty to seventy per cent We NAV
name one store in that street. which formerly rent
ed for three thousand dollars, and which now rents
for nine hundred dollars only.
Pearl street, it is well known has been for many
years the great mart Of the dry goods trade and Il
is mainly in that business that most Of these great
changes have taken place; and this decline in rents
in Pearl street has been going on, while the trsds
in dry goods has increased in common with other
branches Of commerce. II we inquire into tho
cause OF this apparent anomaly, We believe Il will
be found mainly in the propensity to change -which
is common to all human afairs-which causcs the
influence Of fashion to operate as well in trade, a
in the social concerns Of life The first great change
in the course Of the city business, which withdrew
much Of the dry goods and other trade from Pead
Street, occurred after the improvements which took
place after the great fire Of December, 1895, largo
number OF extensive warehouses having been erect
cd In other streets In the First ward after that
event. In consequence, many merchants removed
from Pearl street to those locations some Of which.
again, in turn are losing their share Of popularity
as fsvorite stands; and Mt the present time.
broadway, which, few years ago, was prin-
cipally confined to the retail business, i tho
most fashionable street for the Wholesale fancy
and staple dry goods trade, and the highest
rents In the city paid for the new aad
costly warehouses IN that quarter. Fulton, John.
Nassau AMI William streets, may alec be said to
have improved A. business streets, within few
years. Courtlandt street has mat lily changed
its oharaoer and property for business purposes in
that street, has greatly increased In value. Dcy
Streets, NJ present, undergoing great alterations.
ny widening the street, and the erection Il many
spacious warehouses, calculated foT the wholesale
trade in various branches.
The lower part Of Greenwich street was formerly
occupied as residences by Of the most fashion,
bic families in th, city. IL snow principally tenant
ca by boarding house keepers, particularly by those
who accommodate German and other emigrants.
which has the effect, generally 70 drive out tho
American population. In thai part Of the city.
rents lower than they we're thirty years sincs:
and dwelling houses which then rented Cor s~0,
may now be had for twoniy-hvc per cent less-say
sCC0.
The following shows tho low valuation placed by
the Assessors upon some q tho dwellings Ia Green
wich street,
No, ~, large building, formerly the residence q
the late William w. WOolsey. ......... siipo
No. III, assessed to pr. Bihhy, ........,s.. SOD
~, X. X. Morris sss...44. $50
II, Up stern. .......... s.oo
The elegant row % dwelling houses fronting tho
Bowling Green and state street, are valued NJ
considerably less than they would probably have
brought thirty years since, soon amer they wcre
erected They estimated by the Al from
slsOO0io s20,Ooo each: and u appears ffom the
sales Of the lots which they were bnilt. made hy