The New York herald., 1870-02-27
Highly Interesting Real Estate and
Rental "reminiscences of Old
~ Knickerbocker Times.
How New York Has Grown in Population, Real
EstRs In Value and Rents in Magnitude.
Rants Going Up with Gold, but No. Coming
Down with It--Prospectiye Schedule Of
Rents for the Coming Rental Year
Landlords Cranky and the
Rent Market Firm.

suterest tnan that OF rents IL IS given only to the
eAyored few to own either their dwellings places OF
business. The great majority haw TO hire from
Landlords. The landlord IL king; tenants are the
subjects. But kings sometimes w,ed the sceptre OF
sovereignty with reckless audacity OF misrulc ana
abusive arrogance OF power that ends IN their
6ethronement and then tne people take
she reins in their own hands. IL Is not In
tended TO carry this comparison to this fartherest
extreme; but at the same time 1t s not
saying too much-snd. In TACT, is only telling the
sinpe truth--when I is stated thar the growing ra
pacty OF landlords in our city rapidly approaching
climax Of exiortion that 10 becoming as burden.
some ana uncomfortable as II Is 1agitiously exacting
and unjust There is q remedy SIMPLE, short ond
decisive. This remedy VIII be unfolded In the
course OF the present article. Meantime that thus
fAr written Is not in the spirit or an alarm
ist It Is not designed TO frighten this frac-
donaI part OF the communicative landlords
INTO copjuring up prophetic Visions OF
lMnpposts converted TO salutary hanging
uses, or prospective deeds OF violence sacking
dwellings,. miscellaneous burning and general pill
lage. The design is SIMPLY 10 mp the present
state OF the rent market and the rents demanded for
The coming rental year beginning on the
nrst OF May, and while doing this show the gene
raj feeling OF tenants on the subject. IN stating the
case fully and fairly the points Of accord and varI-
snce present themselves IN palpablc array and the
remedy ls at once seli-su2gesflVe ana cear.
Y.t RENTS AS THEY USED 10 gE
In writing up rents as they used be IN this city,
ana which certainly Is going back to the starting
pontof our subject, IL would be deeply interesting
TO trace at length the growth OF New York, tho pro-
gressive changes in value OF real estate and
the gradual increase in rents, the pro-
cnct OF such growth and changing values.
sal ni,,,f
be made, we viii make 1t hurried and brief When
the East India Company, In 1885, purchased Man
haitian Island from the Indians, paying for 1t few
belts Of wampum and other trfes captivating TO
the aboriginal Inhabitants there very little
idea or the island becoming as popuious as It II
to-day and its land as valuable. Then. as VIII be
remembered by those WHO have taken pains-
though 1t is probaole there are not many Of this
number TO famAarze themselves with this special
feature OF our primal history that the first setlers
were permitted TO choose their places OF residence
and occupy all the land they required for garden
purposes except In the Immediate vicinity Of the
trading establishments, where only smaller
lots were allowed, since the parties occu-
plying the latter localities were supposed
10 be fully compensated for thus taking up win
smaller lots by their closer proximity TO the grand
centre OF trade. This grand centre Of trade was the
hall ana Broad streets The gardens below Wall
street were OF size OF ordinary village plots and
some sufficiently large be cultivated az orchards.
Above Wall street was wilderness or woods, trav
ersed by winding streams, with alterations OF nils
and dalcs and low marshes and rocky heights. All
those early sefters had to pay for their lands were
she fees Tor drawing and executing the grants,
winch, however were not drawn and executed until
1872 during Governor k1ers administration. Thc
nrst transfer OF any fee title In iris city was not
made KNOWN unsi! The succeeding year,
which was of lot on Bridge street.
near whitehall street, thirty lcot front and
ia feet deep tile price paid for 1t being fourteen
dollars A general regulation was made about this
period az To Tho terms upon which future grants
were to be made which were, that the unappro-
priated lands were TO be bestowed free, but upon
condition that II not built upon within three years,
they should revert to the company. Beginning with
the two original roads leading into the country-the
first the interior OF the island On the present line
OF Broadway, as far as the City Hall Park, and the
second 10 the ferry To Long Island, along Stone
street to Hanover square and Pearl street, be-
yond as far as Peck snp-it were easy 10 trace
the origin Of other streets aud thus follow on the
tide Of progress and Improvement Jij all below Wall
street was built up including what was known as
the marsh or meadow, reaching rom New street 10
William street on the west and cast boundaries
aud from Excnange place 10 near Beaver street
the north and south Sides for decades or years the
common grazing place Tor the cattle and sheep OF the
Inhabitants. The whole lower part OF the Island
sparsely Duiit village, made up OF dsIonted dwell!
1ngs, with gardens ana orchards attached scattered
stores a few taverns and q church or two. MeaD-
time along the North and above the city Hail
PARK and above Canal street on the continuation OF
Broadway, farms were bought There were the
Brevoort Iarm and the Bayard iarm, and StuyVesant
farm and Li5penard larm and Beekfnap iarm and
Rutgers farm and AnnecAe JAMS and Richmond Hill
farms, now belonging TO the TfnIy corporation tue
aneyped leases for wnicn for sixty nine years were
bought Of Aaron Burr by John jacob Artor, and
other farms too numerous co mention. Tne city
grew III population; land ana buildings grew IA
value. The embryo village became u city. tardeDS
and orchards disappeared. Tine ole dwellings OF the
early Knicker5ockers made way for newer and liner
residences and the dinlinuriye gable rooted stores
succumbed 10 more capacious ana more imposing
structures Dwellings and PAGES Of business % were M
tanned fosSfLe purpose OF building. A moderate
interest tie money invested was all.
boweve Rb was looked for or expected
good hing house could at 1rst be obtained Tor
almost ing, and then for 500 rent, and then for
$loo rent and then for $780, ana then lor $1Oo ana
In not so very long ago that Mr. a. T. stewart paid
S3I5 for three years. lease for the 1rss store
he occupied on Broadway, anu thought That q very
longer upon rnose olacn days Of cheap real estate
and low rents There was happiness then, and
virtue and content aud prosperity 1t was snen, I'VE
RENTS AS THEY ARE.
Coming to write OF rents as they are to-day In our
marked and a. striking III its contrasts as any III
dream Of Byron. Like him we linoer upon the vision
and with Nun ask
Are they 40;
is not the past a.l shadows!
Thus Il almost seems. Ill the past few years c mr.
city has grown with unprecedented rapldlty The
population has Increased IN geoneirica ratio and
business In proportion. Colossal warehouses. iul-
mcnse stores and mammoth banking and insurance
buildings, and newspaper establishments occupy
the entire lower part Of Lie City. Driven before
this tulaultous business lido, the leading hotels
aud places or amusement and residences have mad
10 be bnIlt up town. These hotels not
excelled anywhere, our places OF amusement are OF
the most magnnceDt character, ana the palaces vi
the old world not surpa5s the speador OF these
private paatial abooea. All tho luxurious appliances
Ci wealth are centrod here. "A lew own tler dwel-
upgs and q few their pLaceS OF business, and the
number ~ only lew. Putting mp these dwellings,
and places of business for renting mas given TO cap
tai most important outlet. What Is the respltY The
answer - given In two words--hgh rents. Capiral-
Isis who sought this avenue for investment, as IS
abundantly natural with men OF this Class, have not
hestated TO take advantage Of every plausible OPP
p0rtunity aud preSext ior making their tnvesI-
inents the most -remuleratlve possible, or, IN
miner words on the very slightest EXCUSES they