The New York herald., 1879-02-02

1878. ........................ 1672 '5.29.6eO
1t viii be seen by the above that tAs pumber and
value of new buildings increased about Sfteen per
cent during the past year, notwithstanding the cost
of labor and materials have been rean:sd about ten
per cent on the average.
COST OF LABOR AND MATERIALS.
1t is interesting in this connection to compare the
Of skilled and unskilled labor III the building
tcrest now with that paid in 1869 or 1870 (the
years when labor received its highest compen-
arS tbe WAR Mnen nare wer no TO-
operate for against labor except the regular pro-
gessive increase The latter advance has been every
decade for the past forty years about twenty-five
per cent about two and half per cent each year.
AN INTERESTING COMPANION
The following shows the number of buildings
erected in 1877 in the Nineteenth, Twenty
and Twelfth wards which take in the territory on
either side of Central Park, with the cost OF the
same:-
NumAer Of Buildings. asa >, G., Cost 20
Twelfth ward ............. $50 $1.6s1, 800
Nineteenth ward. ............ 1916 4,725,959
Twenty-second ward ........ lo5 1,62S,3O0
And in 1875 when rapid transit had been in ex
same territory as shown by the specifications on file
in the Department OF Buildings, was as folows;-
N'a"ter Of Bai1ii"gs. Cost
Nineteenth ward. ............. sos 5,796.450
Twenty-secon ward. ......... 1863 l,9ls.y7O
1875
Number Of Buildings. Cost;
Twenty third ward. ............ ia $639 625
Twenty fourth ward. 4S 113,l0O
RuMoR ABOUT A GERMAN EXODUS.
Inquiry has been made as to the source of rumor
large exodus of Germans to the upper part of the
city, from Hoboken, would take place the 1st OF
May. II appears to have little foundation in fact
Said one dealer who was questioned on this point
IL doubt II this be true; at least think l should
have heard of it If it had foundation. Most OF the
Germans settled Hoboken merchants
in moderate comfortable circumstances. who live
in their own houses. doubt ii there would be
general movement OF the character spoken OF just
yet"
EXPERTS THE OUTLOOK.
Among the real estate experts and judges OF the
is
tied were several whose opinions are entitled to
weight Among them was Mr.. % John Rogers, Presi-
Questioned to the progress of building, under the
influence of rapid transit, he said:-"liapd transit
has undoubtedly stimulated building, but is yet too
early to feel its full effect in that respect Arnold,
Constable Il Co. have eighteen dwelling
Fourteen of these at Madison avenue and Eighty
first street and four more at Madison avenue and
Eighty-fourth street. Two additional ones on Madi-
son avenue, between Eightythird and Eishty-fourth
streets. completed and ready for occupancy.
These all first class houses, costing from $l2 900
to $4,000 each. Those situated Eighty fourth
street cost $4,000 each TO build The same owners
propose to erect seven buildings Seventy second
street between Lexington ana Fourth avenues the lat
ter to cost about $4,000 each. think that rapid
transit will have the effect of building up the whole
of the east side of the city during the next ve years
be quite brisk this year. There has been general
stagnation, and all that is needed now is move
mcnt For instance, you have lot to offer and l
own one. One is sold and at impetus is
created. Confidence is returning and q better busi
ness will follow There is no truth in the
the effect that the Rhinclander estate intend
to put up 400 buildings on the island.
IL will build not to exceed four. There nineteen
heirs to the estate, and the property has TO be
divided. When that is done the heirs may build.
Rents up town are cheap. Many houses that
have been built by spectators have been sold under
foreclosure and they renting very low. This
has had very depressing effect on the whole mar
kct Property in general would not have fallen so
low has had IL been for these foreclosures by
life insurance companies Foreclosure sales are not
the proper standard Of value of real estate There
have been great many such foreclosures on the
line of Madison avenue
THE wksr SIDE.
Mr.. Lcspnasse, OF Lcspinasse a. Friedman, firm
which deals largely IN west side property held an en-
thusasc view of the effect OF rapid transit ON the
future of the upper end of the city. said he
From Fifty ninth street up the line of Third avenue
nearly all property has advanced average
twenty-five per cent from the low point touched
thrcc years ago. when stagnation the greatest.
In the section from 10th to ljOh street aud Second
and Third avenues houses were drug ON the market
n ago. Now there liz active demand for them
and they being rapidly taken up. The houses.
which are of brown stone, are renting on short
terms prices varying from 500 60 $1,000 year
The effect of rapid transit real estate will be
fully telt the 1st of May than II be de-
only since the ist Of january. II landlords hold
rents at the present figures IL is doubtful IL
vacant house eau be found IN Harlem
to 159th street will work wonderful transformation
on the wcst side of Central Park and upward. Now
there is no way for business man TO got down town
except by the Eighth avenue horse In this
region are the beautiful parks high ground an utter
absence of swanpy soil and sslubrious air from tho
Hudson River and Palisades beyond. The increase
OF taxable valuations will be double that which will
he the rule on the east side OF the city No city in the
world can afford such fine site for a residence
A. that fronting the Riverside Drive. The elevated
road will also open up all that beautiful part around
Fort Washington and Washington Heights. which
until thon viii have been practically closed. Tho
island there s but three quarters mile wide and
ofors good advantages ~ place of residence To-day
lots can be had there ~ cheap during the lowest
point of the panic Lots of 70 by 100, which sold in
1870 1871 aud 1872 for VI 900 be had for $lJO
500 each. They situated ON 2OUth, 203d and
the streets north between Tenth avenue and the
kingsbridge road all ready for Improvement so soon
as the elevated road reaches those points, They offer
excellent sites for workingmen v homes.
Homer Morgan who has passed nearly half a CEN
tury IN Pine street. predicted that tho elevated roads
would work a revolution that is only beginning to
be felt both sides OF the upper end There s,
he said - clamor for the completion of the Metro
politan road the west side. The Yonkers pco-
ple are anxious to have 1t 30 up there.
Ii could be easily done. Cars could be
carried across the river boats, and u
rail laid froIn Port Morris dock up Broadway would
enable passengcrs 40 IRON Wall street To the heart
49, L..