The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-02-16
RENTs FOR 1868.

Mo Incrense Anricipat-d-Prices About tho
same as lnst Year.
That the city Of NV York is yearly increasing
its population in ratio far greater than that with
which it is generally accredited is fact tDepew's
census to the contrary Notwithstanding Of which
any ONE may convince himself who will assume the
role Of pater JaniliGs in search Of dwelling
place for those for whom he is bound to provide.
A tour among the real estate brokers and house
agents Of this metropolis leads to one conclusion
simply, and that is this landlords, as class, are
determined to squeeze the very last dollar out OF
ne tenants purse, regardless of any misery that
nlay be entailed thereby on the latter and those
VIII are unfortunate enough to be dependent on
him for the means of shelter. Real estate is,
doubtless. constantly increasing in value all over
Manhattan Island, and 1t would be only
Just tor the owners Of property to ask
Of their tenants . rental proportionate to
such increase but they are not, as class,
satisfied wit this. Wherever and whenever prop
srty values go up, say ten per cent, the owner
demands that his tenants "come down" with
twenty per cent additional rental. If the signs
Are that tho city tax levy, when assessed, will add
one dollar on the hundred to his former tax bill,
forthwith the unlucky tenant is mulcted in not
one additional thereto. And it is of no use to
protest against this style of thing. Come to terms
Or evacuato the premises is generally the ultima
tum Of the landlord; for In all probability ten
anxious heads Of families are awaiting the tenants
decision. and hoping that he will determine to res
move his family, furniture and "fxins," in which
case each Of the ten Is ready to enter upon pos
session forthwith at the advanced rates demanded.
This has been the case for the past FIVE years. It
does appear to be q mystery why, notwith-
standing there has been . decline in prices
since tho days when we were lin medids
beUorum J" Notwithstanding wages have not
percepdbly increased, within the last two years at
least; Notwithstanding, to use the phrase current
on Change, money Is easy" there should be as
every May day approaches determination on the
part OF landlords to demand increased rentals
from their tenants. Although the property owners
matter, are exceedingly verbose regarding it and
unusually stocked with suppostious reasons as to
tns why" there are. nevertheless, some
sSnr ,eo, to , os IN man
(though they ought not to rise) in value
{or tho year commencing in May next. few Of
{hese 1t will not be out OF place here to mention
Every one who has watched with any degree of
interest the constantly changing appearance Of
the CITY must be aware that the business of the
metropolis Is be ng every day pushed further to-
ward, the upper end Of the island. and this
population brought about by the growing power
Of commerce. New York is and must be mainly
commercial in its interests and In it's aspects.
Naturally one Of the noblest harbors in the world,
being the great centre OF trade for the continent,
Dot only with Europe, but with China and the In
dies, and now daily increasing its traffic with the
Orient Gas witness the augmented trade within .
year past with the Japanese empire alone), having
= water frontage Of superior advantage on either
shore, being connected by rail with all sections Of
the Union and by ocean steamers with the princi-
pal countries Of the Old World. it must, in ac-
entreptt for foreign goods, wares and merchan-
disc demanded in any norton of our widely ex.
tended country. If not in the continent itself. As
shis demand is ever on the increase. SO do the
wants for transacting the divers business con-
nected Herewith become constantly more and
more numerous Hence the desire evinced
daily for greater supply, down town,
OF warehouses. wholesale stores, buildings
Tor storage. Offices for shipping merchants
and for manufacturing companies, bank ediices
salesrooms, brokers' Offices, rooms for the divers
and increasing boards of trade. and facilities for
Sransacting the business of the thousand and one
other interests that are c0ncomitants of impor.
tant commercial port. To supply oil these-and
they must necessarily be in close proximity to
e9ch other-encroac cement Is continually being
made on all portions OF the lower wards that are
used for residence purposes and, os a conse-
Quence, homes must be sought for further towards
tho upper end Of the island. Property in the
great commercial and trafficing sections becomes
too valuable to warrant its being occupied by
families; and in compliance with the compulsory
edict of trade these latter are compelled to To-
cate In more congenial quarters. The exterior
appearance Of the buildings fronting the Bat
sery ON State street and in otler neigh
borhoods down town-edtices once used as
homes, but now divided and subdiyided into
business Offices, and cut up. in manner that
makes every inch Of room tell to the best advan-
tage-shows very plainly how this encroa chment
has been progressing in the past and serves as an
Index to what must necessarily be the future uses
TO which other (now) residences anywhere below
may be well to answer an objection that will
doubtless be raised by some persons who imagin
that because building has been going on during
she past year to greater degree than usual.
therefore the number Of residences must be vastly
Increased. Much Of the building that has furnish
ed our carpenters. masons, roofers, stone cutters
and other mechanics with labor during the past
season done in this very business section, and
consisted in the erection, alteration and enlarge.
ment, not of dwellings, but OF large stores, huge
warehouses; DC. The value OF this mechanical
labor, in dollars and cents. will be found on ex-
animation to be proporti nably greater here than
In any other section Of the city. True, capital
was invested In the Improvement OF real estate
elsewhere on the island during the year 1867, and
numbers OF residences were erected in the districts
lying Harlemward but they were by no means so
numerous as 10 generally supposed.
Real estate brokers say it is remarkable
fact that more leases OF property, situated IN the
business part OF the city aud adJacent thereto and
now used as residences, will expire on the coming
1st of May than has been known within the past
twenty years and 1t is somewhat notable, though
pot at oil surprising, that on the reverson Of these
properties into the hands Of the owners they will,
10 very great extent, be turned into stores and
business places, as the constant demand for trade
facilities warrants the opinion that larger in
terest the capital invested In such property can
be realized If these dwellings thus altered.
This procedure will Of course add greatly TO the
list OF house hunters moving day" approaches,
and thus increase the demand Tor residences. As
the market value OF everything is regulated by
che means existing for supplying the call for Il
there IL no sound reason why residences should be
IN exception to the rule, and, following out the
parallel, no cause for expecting decline in rentals
during the coming year, although at the Same time
On increase is not warranted by the present condi
sion Of things.
The style Of buildings erected in 1867, IL may be
here remarked is not Of q character calculated,
GENERALLY speaking, to favor the idea that rents
will drop to much lower figure than they now
- - n. r.