The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-02-16
Real Estate ON the Wet side-How Bus
ness Crawls Nwthward.

Real Estate ON tho Wet side-How Busl.
ness CrawIs N~thward.
The prompt and CONGRATULATIONS measures
Of the Central Park Commission in modelling
the western tract Of the cit, seems to have
given sudden impulse Of ativity to real
estate operations in the vicinity of the new
Boulevard and throughout the while length Of
that prospective Avenue Neuiily ofNew York
The extent to which this work OF rehodellinr
and laying out the upper tract, as VIII as a
general digest Of the principles and consdera-
tons which have governed the commission
has already been discussed in erlenso in OR
article published in last Sundays issue, ant
has been plagiarized somewhat In ertenso,
with map taken from Trow's Directory or
other equally trite and inexpensive source by a
copperhead journal long noted for its facility in
avaiing itself Of the enterprise of first class
newspapers.
The problem which at present puzzles real
estate spectators is the determination of the
hereafter central points OF the upper part of
the island-a problem which may as we'll be
solved by the frank admission that there is
not probably one square rod of the western
tract which will not have tripled in value in
the course of the next decade. The most
speedily settled, and therefore the most
Immediately, value for real estate operations
will be the lots on the line of the new Boule-
ward and along the exterior street, the early
development Of which will BIO necessitated by
the emphatic commercial wants of the metro
liz nd 20 az oil dr.
Of the city feels the need Of room for its proper
expansion. Scarcely less rapid, however, will
be the building up and development Of the
interior streets and avenues, owing to the
increasing demand of our millionnaires for
future Fifth avenues for future palaces Of
fashion; and it would not be difficult, by
little study of maps and present centres, to
designate the future Murray Hills and Madison
squares of the city. While this metamorphosis
is going on west Of the Park there is every
prospect that the demand for villa sites will
have wrought an equal augmentation Of real
estate values on the upper tract especially
about those little centres Of the aristocratio
cloister which already dot the map of the
whole northern tract from the Park to Spuyten
Duyvil creek.
The natural needs OF the metropolis of a
continent can, therefore, hardly fail to triple
the value Of undeveloped lots on the west
side within the next ten or fifteen years. On
the east side q less rapid advance may be ex-
pected, the development of the east side hav-
ing for certain reasons proceeded more rapidly
than that of the west, and values having been
forced up more nearly to their maximum
figure. Besides, the rendering Of the west side
susceptible Of Improvement by the fixing Of
the lines Of its future thoroughfares cannot but
create o diversion Of capital to that tract,
which will have some tendency to depress
values on the east side; though speedily -should
the ratio Of annual increase contlnue-we may
expect to see the whole island OF Manhattan
covered with from seven to zine layers OF
humanity, story upon story, all paying rents at
present Broadway rates-itsele an island Of
seven stories and with seven layers Of popu-
lation.