The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-23

THE GROWTH OF UP T0WN-PRO0RESS AND ANGEa
NEW BUILDINGS.
Since we commenced these articles upon real estate .
months ago, important changes have taken place
and progress has been made Prices of first class
lots have generally advanced during the last season. sx
eight months) from $500 to 81 O0O This, although
unexpected is not unaccountable 1t is difficult for most
people to keep their ideas properly posted up OF the
greatness grandeur wealth and gigantic progress of the
city Of New York They apt to think, if money Is
little tight, stocks decline, crops short, con-
tnues or any one more OF dozen similar are
In operationwe say they apt to think the wealth.
strength greatness and progress of New York must
ceive severe shock and possibly permanent check.
They look only upon side. They forget that New
York city is the algebraic exponent OF the wealth,
strength, greatnefs and power OF the whole United
States. They forget that within the utmost geogrs.
phical boundaries of this wonderful county no
new railroad track be laid, canal can be
dug no new mine be opened fresh Of ground
can be ploughed, ship be launched and not
even log cabin spring up beyond the mountains
without each and all adding their contribution to the
wealth, strength and greatness of the Empire City, New
York tree which will not fail to despatch ieeler
sucker, radical fibre to every withdrawing enter
PRISE matter what may be its character where
may be its location Nor Is there any section Of the
country and might almost add Of the world, any
corporation in any section, but must either directly
indirectly have agent officer fully partially
employed and established the city Of New York. All
these merchants, agents. officers commissioners, attor
neys, trustees, &c. must have houses to live in, and
families to feed and clothe. And in add ion to what
Americans doing within and by themselves, small
amount Of foreign capital Is constantly seeking invest
ment here and enriching city. Even within the last
week two ground has been broken by foreign captaA
Fifth to the mark Of probably S75 600 $780,
nm
had few weeks since begun expend another part of
the city We do not pretend to state figures and facts
with any accuracy 1t is enough for purpose to
state the fast within knowledge that steady
stream Of foreign capital is constantly adding to the
wealth. strength and greatness Of this city There has
sprung up, too in midst class of powerful capital
iss who like capitalists in the Old World prefer safety
security and puncuality in the matter OF Investments
high rates Of profit with Doubt fear risk These
capitalists, many of them widows trustees Of orphans
&C., eschew Stocks and invest in real estate They
argue that in any event, they will have at least
thing to show for their money besides bit OF pictured
paper, signed by distinguished fnancier living,
perhaps, the banks Of the Rhine.
Considerations like the above have had their weight
in keeping up and advancing the price OF estate in
this city Other considerations have also had their
effect. There those who believe the Central park will
be confirmed and opened at early day, and il two
great results win follow. One is, the number of lots
liable for building this island vii be great
ly diminished, and consequently their value enhanced
The other is the lots taken for the Park must be paid
for This will give the present holders several million
dollars which, 1t is than fair to presume they
will again prefer to rcnvest in real estate. With the
prospect of two three millions to be invested in real
estate it impossible that prices should decline. How
much if any, they should advance will depend upon
other will srop r1eifher
to ask nor to answer.
Another consideration tending to advan.e the price Of
prime lots to be found in the structure of
the island. The city can only expand upward-not
Iateraly And 1t happens that the prospect above
Murray Hill is not at present very inviting. After pass
ing Thrtyeighh street the ground begins to descend
and people prefer southerly Dortherly
exposure. There other objections, which have
alluded to in former article to the property above
Fortysecond street the line Of Fifth The
consequence is that those gentlemen who want
who expect to want frs. class lot within ten years.
inclined 70 make their selection in They prefer
to pay little more for location that suits them, than
TO buy for less than value in location they do like
With much reason they ask, what few hundred
even thousand dollars in house located to suit usS
For 1t costs just as much to build four thousand
dollar lot as it does on a six thousand dollar lot.
Since las: article written Thirty fourth st Get
has received attention from balders and capiass
West Of Broadway two houses going up the
north side. On the south sde and Broadway,
Messrs Stewart Smith, FOR Mr.. Iawrencs wbo we are
informed the adjoining corner, are building four
four story brown stone housss-14:s and 1873 by 49,
We had supposed the day for building had
closed forever, bu. it there IS s iuger
ing in the west.
Next to DR.. Townsend, the west MRS. Cashcaan's
house is progressing with brown towards
the street and brick side front towards Fifth
and Or. Ts brown Stone and stable Opposite Mr.
John jacob Astor ia erecting stable in the rear Of his
house on the corner.
On the north side Of the street, and 20 feet east or
Fifth xvenue four full lots frmerly owned by Joseph
B. Corliss From him believe they passed into the
hands of the late NJ wyeh of No. % Broad street. He
valued them al 81 COO EACH On his decease they
bought by Henry Coggll, and by him sold to Edmund
Hurry, the architect and builder, Who paid about
s., eco each. Mr.. Hurry could have sold them for
s2s GEO. but he preferred 20 improve them. He has
commenced laying the foundations Of four
superior brown stone houses, 26xG0 with extension
23x15. These houses will cost to build probably much
short Of s18 900 each and viii sell real lily for SIS 00O
Any who will the trouble TO look at the manner
In which NJ. Hurry Ii laying the foundations will have
doubt in wlet style those houses viii be finished. Mr.
Hurry Is Of the few builders who alSays sell thei
work before 81 is done.
On the rorthess. corner of Fourth avenue, Dr. Ten
Eycks Gothic curl sity gradually growing into shape
II ia to be covered with white French mastc like Fields
curiosity shop at the junction of Broadway Fifth
and Twenty street and like two houses In
Ninth street, We believe, between Fifth and Six h
avenues
We forget brick las been laid in Thirty third street
this The ast work done in the street by Mr.
Astor, the north side, east Of Fifth
Thirty-secopd street is nearly finished excep. the
nosth side east II Fifth avenue.
On the north side Mr. Mayor and postns Brady
owned les feet, including the irregular plot Of
ground which he bought OF Kernochan the northeast
OF Thirtysecond street and Broadway. On tho
easterly end Of this property Mr. ncMaster built three
brown stone houses 81 feet which were finished about
the first Of Nay last and which, believe st for
SALE at about SIC co., Next adjoining him. the west
yr Daniel schooumaser builder, has recently bought 40
a.F~ K T@- Or