The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-01
REAL ESTATE MATTERS.

Rise and Progress Of the Past Years
Transactions-Thc Effect Of tho Meet
ing OF the state Legislature To-day on
New York Property-some Plain State
mcnts Concerning Rapid Transit-Thc
Reason Demanded why the Various
Roates Arc Not Complstcd-A Heavy
Business for Twelve Months Past by
One Broker.
The year just passed out Of existence will long be
remembered by the real estate interest AZ having
been one Of the most eventful, as well as prosper
Gus, In the history OF New York city. Since this
time twelve months ago the price Of properly on
this island has steadily increased and, instead Of
diminishing, is still further advancing In rates.
The justice OF the rise we have several times and
on various occasions commented upon, and shall
continue to keep supervision of the real estate
market and Its fluctuations and note every detail
appertaining to its transactions.
To-day our State Legislature begins its regular
session of 100 lawful days. which. however, may
be prolonged to last thirty days more and even
yet longer The enactments that this body will
pass concerning this city must naturally have a
York.
What we mostly need, and that very badly. Is a
systematic and feasible plan OF rapid transit
both sides Of Manhattan Island, but not on paper
possible period after the granting OF the chartss
ana under penalty OF heavy damages.
We have now no less than four different rapid
transit schemes, three OF which possess the legal
authorization, one Is partially completed and the
other two are still in embryo.
The single track elevated road running from the
Battery to Twenty-ninth street, via Greenwich
street and Ninth avenue, Is for the distance u
averses all that can be desired, in point OF speed
and accommodation, yet the owners are tardy In
extending It's usefulness to the promised terminus
tYonkers), either for the want of means or some
other cause, but certainly not from lack OF
patronage which it would receive II in operation
It's full length.
The Gilbert Elevated Road has been promise
for the future. The undertaking is so vast that
q long time was required TO gather such a large
amount OF capital required to construct so huge
sary funds have been obtained, and that the work
OF building this route will be pushed forward with
vanderbilt's underground railways have not
even as yet become the beginning or bore. No
one hears aught OF the undertaking, although, in
gineers has been appointed to make surveys, the
company ~ organized was merely 10 save Its
ocrned, nothing more is known concerning one Of
the most valuable grants ever extended by the
state TO sS%tee viii throw some light ON e
Subject whether rapid transit Is public require
ment and TO be completed by the present owners
s.sheepsknr carefully slowed away In order 10 de-
bar others from executing this much-demanded re-
quirement The question arises-"Has the public
any rights which Commodore Vanderbilt anu anso.
ciates are compelled to respectf'
Another rapid transit scheme is the "Tier Rail-
roadn but as this enterprise has not as yet been
chartered here Is no use IN mentioning she same at
this time.
Rapid transit is absolutely as necessary TO both
sides OF New York, east and west as is title deed
to a piece Of landed property. Let the question
thereof be put TO a general vote and IL would re-
ceive an almost unanimous demand for its speedy
construction. Our hope rests in the Legislature,
and to this body we leave the subject for an early
aud favorable solution.
AS stated above, most of the real estate brokers'
have done an exceedingly good business during tho
last twelve months. One house alone-Meesrs. w.
II. Ludlow Co., No. Pine street-have made
sales, both public and private, from January IL
ls72 until last evening amounting to &7f@g.00l lss-
This Is a very handsome exhibit. and many Of our
brokers are able to show similar statements x
The sales ON Change yesterday embraced 0pae ~
II. N. Camp Of three story brick house, ~ =" tbe
north side Of Twcntysixth street. 505.lo fySs Mese
OF Sixth avenue, lot 15.11xgS.9 feet TO stian
Schwarzwaeder, by order or tho refss - ~, 'or
$4,000 and sale by w. Kennedy Of th sSase o.
the lot and brick house north side OF IN w
street, l5s feet east Of First avenue,
Perrcnond for $4,000. y.,~ -, i
Mcssrs. 4. Ii. Ludlow 4 Co. at private, &se NE
posed OF the house and lot No. 43 East x "cnjJ-
second street, 25xes.9, for $4,000
TO close the year appropriately Mr.. Jere John
ston, Jr, opened q very elegant real estate Office
No. II Park row, into which he moved yesterday
from his old stand No. % Nassau street.
After this week a very brisk season MAJ be ex.
pected, to which end all the brokers are polishing
up their Establishments, and holders are debating
upon the "outside" offer for them TO accept Jcpln6
that all the expectations OF buyers and sele y may
be fully realized we wish each and every QUE
very happy New Year. Z. ~