The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-26


from the foot Of F0rty-second street, North river,
across the Hudson to Weehawken. Its business il
not large. It's capital is about $50 900. In winter
It does little or nothing. In summer u about pays
its expenses. Il has two boats but runs one only,
the Lydia, of $50 tons burthen. Fifteen men are
employed on the ferry. The boat makes forty
minute trips and runs from daylight until about
dark.
OUR NEW COMMERCIAL BUILDINGS.
Warehouses Erected In the Year 1S67-In.
crease I'm the Value of Real Estate-The
Progress and Enterprise Of Our Merchants
the Cause.-The Principal Houses.
The number Of new buildings erected in this
city during the year 1867 has equaled, if not ex-
ceeded that of almost any former year, and these
structures have not been put up in haste or with
any desire to let misery spirit interfere with
the designs of the architects, and those magnil.
cent places prove to certainty the continued
and steady progress Of New York, than which
no other city in the world can boast of q supe-
riority in its development Of the beauties and
grandeur of architectural science. Nor, what Is
more remarkable, is it fact by any means that
the fine erections now rising in our city are con-
fined to the best portions within it's boundary; in
all parts 1t is the same, and the like signs of pro-
gress to be met with at the Battery as well as
in the upper districts, and in the east well as
in the more fashionable western side. Blocks of
residences, fronted with brown stone and built
with every regard to modern improvements in
building and with every precaution against
fire, are everywhere to be met with, and take
the place Of the less pretentious houses in
which the earlier New Workers. were wont to live.
The quiet and plain business houses in which our
merchants transacted business and became sue
cessful and wealthy ere disappearing for edifces
of immense size, beautiful in appearance and rich
and gorgeous in design. Fifth avenue and its neigh
boring avenues and streets may, without denial,
boast of the splendor and the magnifcence Of
their palatial residences; while the older, lower
portion of the city-Greene, Church, Pearl, Green
witch, West Broadway and others, where the hum
of commerce goes daily on-can point with equal
pride to the grandeur and the magnifcence Of
its business houses, on which monetary outlay
has been but secondary consideration; and as
the Island of Manhattan is closely-aye, crowd
edy-bult on, and it is utterly impossible to find
more room to cover, commerce, unable to find room
for it's steady increase and continuing prosperity,
sends her residences high up in the air. and almost
mid heaven and earth her children carry out their
mission Of daily toll, and it is thus that in the
fourth fifth or sixth story that some Of our
richest merchants conduct their trade and carry
on their transactions with others in the most dis.
tant parts of the world.
INCREASE IN THE VALUE OF REAL EsrAyE.
If there were no other proof to point out the
prosperity which has marked the growth of New
York. the increase in the value of real estate
within the past ten years would satisfy the most
sceptlcal Streets where one story wooden houses
showed themselves in numbers and tracts of
ground, common neglected wastes, are all to-day
Of fabulous value. The small shanties have de-
parted and the wastes have been built on and the
value of tho buildings may only be counted by the
millions, and in many places where lot could
have been purchased for 81 900 the same to-day
commands no lower figure than ten times that
amount, and rents have gone up IN about the same
if not greater proportion. Many of the streets
in the vicinity of Broadway are making vast
changes in their appearance, and accordingly the
leases of small residences fall the lots brought
in; the houses almost instantly disappear and
MAGNIFICENT WAREHOUSES;
raise their heads and increase the value of the
ground. In Centre street, for instance on lots
l36, l4I and l43 the Messrs. j. b. and w. w. Cor
nell have erected q building for their own use
which IS one OF the fines; in the city, and is model
built with every possible regard to safety from
fire, and Of strength sufficient to bear the heavy
iron stock which comes from the Cornell Iron
Works. 1t has high basement and measures
seventy-two feet front and depth The front, from
the foundation to the roof is of ron is also the
rear as far as the second story, and the inside is
supported by columns of the same material and
wrought iron girders. The wall, which is built of
brick and laid in cement, is twenty inches thick.
The basement OF the building is used as forging
SHOPS the first floor, with the exception of cart
way of twelve feet for receiving and delivering
work, is occupied by Offices and warerooms, which
are laid out i'll tasteful manner, the Office portion
especially, with its carved black walnut counters
and desk, being inferior to that of no banking or
counting house in the city. The upper stories
are used for finishing the iron work. The
amount of iron used in the construction of the
ediiice was AGO, 179 pounds. Tho building is now
the headquarters OF the firm, which employ at the
present time seven hundred men, who are mainly
employed in the store Of Mr.. A. I. Stewart, the
Park Bank and the New York Life Insurance Com
pany buildings. The building is of commanding
appearance and bears pleasing contrast in COM
parison with its gloomy neighbor, the TomDs.
GREENE STREET
is also rising from its asaes, and splendid ware.
houses have already sprung up in the place OF
some small residences and business necessities
and enterprise are consequently adding immensely
to the value Of property in this neigLborhood,
especially that portion lying in the immediate
vicinity OF Grand and Broome, where O large
number Of fine house are being. put up. As late
1000 Tue places Oh WHICH the very DeSb OF tneSo
business marts now stand were occupied by miser.
able snanties or stables, and still later they could
be purchased for $4,000, while their price to-day
is az much as $4,000. From Grand to Broome,
on the east side of Greene, the whole block when
finished will form one massive building. The
Messrs Appleton, the publishers, have arranged
with Mr.. Howard for this entire property.
This structure at the corner of Grand, when com
pleted they will occupy themselves for the pur-
poses of their publishing trade. II has Dor.
chester stone front and contains five stories and
basement and 10 ireproof throughout. The pillars
and principal supporters are made of iron and the
whole structure, which cost about 5000 900, will
be finished in a month, when it's future occupants
will remove into it. The adjoining lots, to within
one of the Broome street corner, form five story
gable pointed building. A structure similar to
that at the Grand street end will be erected, so
that the whole will present uniform appearance,
and be of advantage not alone to the Messrs.
Appleton but to the propretors of the surround