The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-29
UPTOWN REAL ESTATE.
Mr.. William ". Vanderbilt and his Sons
buying Building sites on Finh Avenue.

BuyinE building sites on Fifth Avenue.
There has been OF late considerable nc
tivity in choice unimproyed property situated
on Fifth avenue above Fifticth street. and on
Madison and Lexington avenues and the streets
adjacent thereto in the building district.
In the last ten days Mr.. William II. Wander
bilt and his two sons have bought between q
million and eleven hundred thousand dollars
worth Of Fifth avenue real estate.
The old Keyser property--lntterly known ns
the Keep property-a plot Of twelve lots COM
prslng the whole front on the west side Of Fifth
avenue. between Tifty-nrst aud Fifty.socond
streets with two lots in the rear on each street
has been bought by Mr.. William H. Vanderbilt
for $500 900 cash. This fine piece Of land
fronting 200 feet on the avenue by 100 feet
deep. IL the only remaining unimprovcd full
front on Fifth avenue below the Park with the
single exception OF that Of Mr. Robert Bonner
81 tho Ledger situated between Fiity-sixth and
Fify-seventh streets on the cast side of tho
avenue. we estimate the street lots nj $50 uuO
cach-a liberal cstimatc-the Fifth avenue lots.
including corners average $4,000 apiece.
Mr.. William X. Vanderbilt has bought from tho
Stevens and Willett nStnto for s2O, 600 cash four
full lots on the northwest cornerof Firth uvenuo
md Fifty second street and one in the rear on
Fifty-second sirpet. II is said thnt Young Mr.
Vanderbilt will build on these lots next spring.
Mr.. Cornelius Vanderbilt his elder brother.
has bought for t22joQ0 the residence y Mr.
seventh street and Fifth avenue. and for sll000o
the adjoining house belonging TO MIR. Louis
i.orinard. Tho two houses are respectively
known by the street numbers 7i2 and IA. and
form together IA frontage Ot iOrtv-eght feet on
Fifth avenue. Mr.. Cornelius Vanderbilt in
tends, II il snid. 10 demOlish the two houses and
build on their site single house for his own
use. The land alone will have cost him S33j 900.
Ihe southwest corner IL now occupied 10y whnt
Is considered the finest and most complete
housc in the city. that OF Mr. Frederic Stevens.
Mr. Vanderbilt has less land than Mr. stevens.
and consequently cannot indulge in the French
chateau style OF architecture which has made
Mr.. Steynnss residence the show house OF New
York. With Mr.. William II. vanderbits house
on tho corner OF Fortieth street aud Iifh
avenue. and tho new ones to be erected nv his
sons. the Vanderbilt family will not be badly on
In the way Of" palatinl Fifth avenue mansions
What tho Nnnderhilts are doing on Firth ave-
nuc is being done by others on a smaller scale
and IN qniet manner throughout the building
district. Those who have been waiting for the
lowest point 10 improve their property: those
who have bought lots TO build and soil those
who have been watching TO pick up lots in Ger
tain choice localities are now all on the move.
The value Of tho now buildings erected
IN this city In 1853 was $40, 100000; In 1877
Il was tl3,000.0O0; in 1873 it is estimated ut
s2OOOO.OuO. an increase Of over 80 per cent. In
twelve months. Tho new buildings nearly all
dwellings, are situated chiefly IN the Nineteenth
Ward and almost entirely in the Twelfth Nine
teenth, and Twenty second Wards Those who
fancy New York has stood still during the past
i've years Will be surprised IN learn that the
value OF the now buildings erected during the
Inst decade reaches the enormous sum 81
s291 uuOuOO; that Is, nm average OF s3OOn0.O0O
yenr. In point OF fact. we nut M as many
buildings In 1879 rs we did In lS6a-that is.
$50 900 900 invested in building in 1878 repre-
sents as much bricks and mortar. labor. m 4
material rs did $40 900 900 in tho flush times oi
lS69 Common labOrers ure now getting 81 per
DAY or 10 cents Per hour: hodcarricrs. 81 20
best hricklayers. 90. In 1869 these latter 90,
from 50 10 e.. Carpenters. painters. roofrrs
and all mechanics IN any manner employed In
tho erection or construction Of buildings are
laid IN the same ratio. Decidedly the Wander
bits did not choose bad moment 10 buy land
and build houses in New York. Their pur-
chascs have made a stir IN the market