The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-20
Real Estate. Prospective and
Retrospective. a
Lively Interest in WestcheSter Property
Railroad ImproEements---Annexa-
tien and Quick Transit.
~wHo STOPS THE WAY ?"
Larchmont Manor-The Growth Of Cities-Why
ON the East-Broadway, Its influence
on Landed Estate-New York
East Of Fifth Avenue rN

on Landed Estate-New York
East Of Fifth Avenue. pa.
Notwithstanding the success OF the sales OF the
Carman and Post estates In establishing the value
OF property. on Manhattan Island, It must be ad-
mtted that the season is backward In bulk OF prop
erty transferred; but, following the presidents Of
recent seasons, there Is yet opportunity for and
reasonable prospect OF large transactions In the
rear estate market OF the city up to the middle Of
june.
A LIVELY INTEREST IN wEsTcHEsTER REAL ESTATE,
particularly in the towns OF Morrisania, West
Farms and Kingsbridge, which are now Knocking
loudly at the city's gates Tor annexation, may
be expected during the same period. Transactions
In this suburban quarter have been dull OF latc In
sympathy with the sluggshness OF city real estate
sales, but without adequate cause. When
sales OF city lots came to comparative standstin
on the close OF the season OF 1852 owing to panic
caused by the mere contemplation OF the
unheardsof high prices then prevailing, while
no financial stringency necessitatcd check
on operations transactions in Westchcster lands,
Influenced by the same panic. became still more
nat 1t is easy enough TO point out the cause oil this
phase of the panic, but sufficient reason Tor 1t IS
apparent. The high prices ruling In the city were
startling as compared with former quotations Tor
lots on the island, although amply justified by ex-
amples In the Old World cities; but Westchester
prices could not be regarded as extraordinary,
under the circumstances OF their then present and
prospective availability for municipal purposes,
even when compared with their value for other
uses. Referring now more particularly 10
LANDS IN BULK,
and the more valuable on that account as available
for restriction, regulation and general improve
ms WaQ hen nra I'd "a
most favorable possible conditions for investment
on q .shard PAM basis. These conditions were,
prices not far removed from the value OF desira-
BILE agricultural land near city, with good settle
ments crystaliizng In their vicinity and the city
advancing toward them with rapid strides soon to
be fastened by
QUICK TRANSIT AND ANNEXATION.
With such investme mrs, promising an almost GER
tain return OF at least seven per cent on cost
above all charges and the prospect OF ten
fold and even greater rise In the near future as
reasonable probability, nothing could be safer.
whatever the vicissltudes OF tho money market,
population advances toward the land and ulti-
mately brings it into its highest valuable develop
ment lor business or habitation. Yet, IN the lace
OF all these encouragements to invest Wcstchester
lands have continued to be SOW Of sale, while city
prices have not only been maintained but have in
numerous marked instances advanced largely on
che figures vi the season OF 1863.
The purchase OF the LennOx property by Mr..
Thomas Murphy and others was regarded as one Of
the bodest operations OF the time, when the panic
lngs upon real estate operators; but 1t is pr0ba.
BILE That the net profits OF the operation have looted
up not less than one hundred per cent. And this
instance IL by no means exceptional.
In the meantime several routes OIL rapid transt-tO
the harlem River have been authorized by the
Legislature. That the Gilbert Elevated road Ia to
be speedily In operation cannot but be credited
when we are so informed on the most respect
able authority, together with the fact that
In hand, the contracts executed for the iron
and the work actually IN progress The beach
through broadway and Madison avenue to Harlem
vanced principles OF Iocomotlon, has also become
law, and this being the favorite route Tor the pur
pOse little DOUBT exists OF its early completion In
not restrained by the Courts. The Harlem
RAILROAD IMPROVEMENTS
on Fourth avenue are progressing with reasonable
Grand Central depot to White Plains, with prob
able distributing station above Woodlawn, where
che New Haven Railroad branches or at point
that viii be at or very near the northeastern cor
ner OF the Empire City, alter the accomplish
ment OF the proposed annexation. In addition TO
these is the rOadbed already constructed for the
New York and Boston Railroad. between the Hud-
son River and Harlem Railroads. In the Intervening
DuyvIl branch to High Bridge; the roadbed
already constructed oil the Harlem River and Port
Chester Railroad, and line already surveyed for
the New York, Westchester aud Boston Railroad
between the latter road and the Harlem. All these
are works actually in progress; others OF ike mag
nltude are projected. With such prospect IN view
It is no easy matter to correctly estimate the mag
nihceRt future OF the real estate OF lower West
chester.
THE ANNEXATION or THE wEsrcHEsTER TOWNS
was before the Assistant Aldermen ut recent
meeting in the shape OF concurrent action on o
resolution OF the Aldermen requesting the Legisla-
ture TO 50 amend the pending Annexation bill as to
provide for submitting III. provisions 10 vote Of
the people Interested In the measure. As, 70 90
State, as well as OF the two counties more tmme-
niately the Assistant Aldermen hestated
THE PERPLExING PROPOSITION
ct once, but laid it over Tor q weeks rejection.
In this 1t cannot be doubted they eylDced Inc
claimed IN the recent Senate debate by such
trustworthy municipal councillors as senators
has been passed IN the Assembly by vote Of
p6 in favor 10 3 against with certain amend
YIN rs more equal
under and over the Harlem River, and winch, as
Il was promptly accepted BY Mr.. Herring the apt
and able introducer o. the blil IL most probably
At their subsequent meeting on Monday last the
Assistant Aldermen did not allude to the subject;
Naturally enough, far-seeiDg and public spirited
politicians are dsincincd 10 so commit themselves
concerning the same, as TO seem to obstruct the
Bemby struck out Of the bill the only section that
provided for vote OF the Westchester towns IN
reference to It, and TINS removes the only ground
On which similar vote on behalf Of the city has
been demanded.
The debate In the Assembly was intelligent and
dignihed, as worthy Of measure OF so much maj
esty and Importance, seeking, apparently, to per-
feet and not Impede II, and the nearly 1nanImous
vote it received win be generally accepted as an
evidence not only Of Its popularity but OF the par
liamentary skill and fidelity with which the subject
has been handled during the present legislative
session. And now, with fair show for the bin in
the senate, In Difference TO an unmistakabiy ex-
pressed public opinion In its favor as a necessity OF
the progress OF the Empire City In It's upward
and onward march along the shores OF the Hudson
and OF the sound, including their intermediate hills
and wales and water courses the people OF the city
and OF the towns ripe for annexation feel Justified
In expecting its speedy cnactments:-
"wHO STOPS the wAYr'
While on the topic OF Westchester, but not con-
nected with annexation, II will not be out OF place
to make brief mention at this time OF the .Larch
mont Manor" located two miles south OF Mamaro-
neck, on the New Haven Railroad, and known for
years past AZ the 1ne estate OF Mr.. E. X Col