The New York herald., 1878-03-13
RAPID TRANSIT.
{. HOW 1t Is Expected to Affect
Real Estate.
BROOKLYN VS.. NEW YORK.
Material Depreciation Predicted
in the City Of Churches.

sstec in real 10 the present and u-
ture OF property in this city and Brooklyn ana inc
way IL will be Influenced by the complexion OF the
East River Bridge aud the rapid transit railroads.
That event must undoubtedly have its effect on real
estate in direction or another, and where IL IS
likely to tell least greatest is the question oi the
hour with owners aud agents OF property. Brooklyn
has nos deprecated to anything like the extent Of
New York In real estate. Business property there
has decreased from ten TO fifteen per cent; South
Brooklyn dwelling house property is less by
thirty three and one-thlrd per cent than what
Il was two years ago; Fort Greene property
II twenty per cent less than what It, was
about the same period, but real estate on Brooklyn
Heights and all around that neighborhood has depre-
less than per cent FROM The figures OF last
year. Houses Of the same preteusions and in analo-
gous locations New York have deprecated in many
instances much fifty per cent while the general
decrease all New York as compared with Brook
lyn is average fifteen per ceat greater Con-
siderng the hard times the latter city may be put
down having held her own, but Will she hold 1t
when Tour parallel lines Of rapid transit are CON-
peled in New York, and Harlem and wos,chester be-
come available Tor tue downtown merchant as
Madison square and Brooklyn Heights?
ANTICIPATED BLESSINGS BRooKLyS.
The people across the water she Will, and some
pf them insist that with the completion OF the Brook
lyn Bridge pd transit in Now YORK must immensely
benefit Brooklyn. 1t Will bring away residents from
all the uptown streets below Central Park to the
picturesque ncighborhood OF Prospect Park where
ground billowy aud the Is in Wow. They fat
ter themselves that when rapid transit line unltes
the Brooklyn end OF the ridge Sands and Washin
ton streets with the vicinity OF Prospect Park, the
people living Murray Hill and ali about
there will pack up and leave for the more
epio csfa IN
dealer DISCUSSES any alarm he may feel about tho
effect OF rapid In New York. and points with
sanguine inger to the East River Bridge and says:-
'That sir, is what will Brooklyn and put her
real estate beyond jeopardy"
BRIDGE VS.. RAPID TRANSIT.
Whiotthere is no doubt about the great convenience
the bridge will prove, and the OF time 1t will
cause transit between the two cities, there is
good reason for supposing 1t will draw away
many more New Yorkers than residents over
The river. Whom the bridge completed, thrce
years now, the elevated roads Will be in full
operation the whole length OF the island, and suitable
house property Tor all classes OF people win be
cueap IN Brooklyn. There Is enough ready madc
housciess territory lying between the Central PARK
and the HUDSON RIVER 1t Is claimed to accommodate
half million oi people, thing the Brooklyn ioks
overlook uIder the Impression that there is little
room lett ON Manhattan Island for any more houses
and that Tor cheapness and comfort IN dwellings
Brooklyn must always be essential to the middle class
oil New Workers. Then Westminster will be as handy
for the downtown clerk or mechanic as South Brook
lyn and be less expensive TO reach. The fare TO
OF the bridge at side, the bridge fare
and the iron the terminus at tho oner side,
VIII exceed the through fare to Harlem and West
chester by the elevated roads. To the great mass OF
BUSINESS people down town, west ana east OF ST
Paui's the rapid transit lines. four IN number, 1t IS
claimed will he convenient 10 reach
than tho Drdge-ln TACT, they VIII be at
their very doors and be taken, from thence homo
men la this part oil the city are residents OF
Brooklyn, and II some among them, by way OF ilustra
ton, have their Offices the lover part OF Pearl or
Broad street it Is PLAIN they VIII be much
vcnicnced by the rapid transit roads than by tho
Brookyn, roe % VINO '' 10 business business IN New YORK may
ready to make a change under
Ihs new order Of things approaching, but 1t
generally expected mat very numerous ten
ants u the City OF Churches will transfer
their domestic arrangements 10 New York when rapid
transit accomplished From Jersey II IS conf
IDENTIFY believed there Will be large exodus OF New
Yor9ers, who have been driven to encamp on its
mvsquitobound shores by the lack oil rapid transit
aud suitable house accommodation
IDEAS OF BROOKLYN REAL ESTATE DEALERS.
Going anon; the leading brooklyn real estate deal
ers Montague street Yesterday the writer found
variety OF plausible and ingenious arguments ad vanced
show that Brooklyn property was the most de-
slrabe the lace OF the earth, and that all that
New York might do could never lessen It's charm for
investors One dealer said there was no doubt IN his
mind but that rapid transit in New York would en-
hauce the value oi property in Brooklyn "because,
sad he the spread oil the retail business up town In
New York is pushing the fashionable people up
toward the Park ana boulevards, where lots are held
nigh that none but miilionnaires can command
Them. These Will come 70 okyn 10 1--we, where
there Is rule, better society than IN New YORK,
the nnest park aud nnest drives IN the world"
Another dealer said:-'No city IN tho world has
such superior accommodation as Brooklyn Tor people
Of the mddle class and as long II has that It may
laugh all the rapid transit roa Is III New York.
Look al the tenement house property that was once
such iavcr,te end paying investment We knocked
that the head by building houses here TO rent as
low as 800 a year VI iale years we have been
putting up block after block OF elegant houses at
t400, that has hurt the French fiat system, Tor
aopoay wants TO live ON nat at 5000 year when
rnnln Ia
rhrn we can give house here Tor
bl,O00 year, equal 10 any IN New YORK for 81 000
Kuen dge finished ana we have rapid Transit
THIS side, the iurthest parts oi Brooklyn can be
reached from New York IN less than halt an hour.
Brooklyn has the advantage ol Now YORK IN It's to-
Biography Tue street car railroads spread out like
from Fulton ferry SO that there Is no one part OF
the city more favored than another, and good build
Ing property 10 distributed all over In New fork II
Is diifereDt, as beyond certain belt between Third
AID sixth avenues there are lew choice houses. New
York has nc such drive Ocean avenue. Central
Park Is In eror TO Prospect Greenwood Is park IN
scr and all want rapid transit TO aud from
tbe principal ferries TO hold own If VIC
got the bridge"
CAUSE FOR APPREHENSION
Athrd dealer was willing. TO admit that there was
cause apprehension about Brooklyn real estate
The establishment OF rapid transit roads in Now York.
He aware Of several instances IN which tenants
had notified their intention OF surrendcr,ng their
houses ON the LIST of May in order
to Harlem and have the benent oil rapid transit,
but ike Other dealers he built mis- hopes on tho
complction of the bridge being enough to counteract
any exodus OF residents from Brooklyn.
One agent appeared 10 be Indignant with the State
govern neglect to build the bridge Years
ago It's expense "If u had done that, lie
said, thousands OF people now suffering IN New Jer
scy might have had cheap comfortable homes right
here 10 Brooklyn, healthy cAmate, no mosquitoes,
good society, schools and churches lectures sewing
eli ces and OF social enjoyment AS to rapid
transit hurting Brooklyn II can't Tor this reason -
Everywhere you rapid transit roads property will
20 up You may supply the convenience OF travel,
but ou can't make the lots nor the houses cheap
when there amt enough 10 20 round. ana there are
len people bidding against each other tor every house
and lot Here In Brooklyn we hayo no end OF houses
land, and we can meet the means Ia vcrybody's
pocket"
ATTACHMENT WORKERS BROOKLYN.
An agent and dealer IN real 0Btato VINO mad lived
,wnntv ova vears In Brookyn saId the only ones no
expected who would avail themselves oil tue advan-
.ages OF rapid transit to quit Brooklyn Tor New YORK
we're tho who rented houses and HhO had been only
short time residents Those who had been there any
ength oil time were 10th to leave. lney acquired an
attach for the city that altogether singular
and only accounted Tor the grounds that tue
freauenL and numerous church, school, lecture and