New-York tribune., 1879-04-12
1stquarter LIST quarter Inc Dec.
I~7s. 1879.


Esti cost - 723 G97 50 ,Ssl 250S3137GG5
During the last quarter, out of 100 buildings begun
GO were in the Twelfth Ward, and 92 i'll the Nine
tecnth Ward making 80 out of a total of 100; and
of those completed 81 were IN the Twelfth, ana ll3
in the Nineteenth Ward or IA out of a total of
237 buildings. Real estate men say that the rapid
transit facilities have given this remarkable I'M
pnse 70 building III these parts of the city. Out of
3g3 buildings erected during the first three
months of the present year, 203 are north of
Fortietl-st. 1t is claimed at the Building De-
partment that the number of plans submit
fed during the first quarter Of the present
wear does not give a correct idea of the great
amount of building that is going on, as the rules OF
tbe department do not require plans to be filed untll
the foundations are LAID and the first stories OF the
proposed buildings begun. It's asserted that scores
of buildings were begun in March. the plans I"r
which have not yet been filed. Within two weeks
ground has been broken on the remainder OF the
block on the north side of Ffty-ninth-st, between
Madison aud Fourth-aycs, for choice brown-stone
residences, all of which are TO he htted mp specially
for different owners Charles Durant, r, the sugar
refner is building one Of them at an estimated cost
of S75 600. Madson-ave beyond Seventy y-firSt-st.
presents an unusually busy appearance, and on both
sides of this thoroughfaro preparations are being
made for rows Of brown-stone dwellings at values
ranging between $15, 900 and 5000 each. accord
ing TO the interior finish.
| DEMAND FOR OFFICES DOWNTOWN.
In the lower part of the city there il little build
ing going on almost all available space being already
occupied The Boreel Building, on Broadway oppo-
site Cedar-st. is nearly ready for use, and most of
the attractive rooms have been rented for months
principally by insurance companies, lawyers and
| brokers The Morse Building, at Beekman and Mas
sau-st. VIII be ready for use by May l, ana nearly
all of ITS rooms have been taken. The man corner
s to be occupied by the Market National Bank. 1t
| ia mentioned as a favorable indication that with
! few exceptions the rooms formerly occupied by the
| tenants of these buildings have been rented TO
other tenants, and that oice-room IN g0Od locations
| downtown Is IN great demand. "
! The only portion of the city which shows any
| sign of falling or in values or rentals Is between
| Spring and 1enth-sts. The depreciation IA that
quarter il ascrbcd principally 10 the fact that tho
elevated roads both sides OF the cty ald the re-,
tail trade uptown by carrying customers bel DAD
This norton of the island and also to the fact that
! There is always q gap between the boundaries OF
the wholesale ard retail divisions OF trade
EFFECTs OF RAPID TRANSIT.
At the extreme limits of rapid transit routes the
activity in building is most marked. Builders are
puttine up a cheap class of brown-stone dwellings
TO sell at between 81 900 and $50 900, and to rent
at from $3.50 to 30 400 on the West Side of the
city and from 8 900 to So, 800 on the East Side.
Smaller brown-stonc houses streets near East One
hundred -and-nineteenth-s will rent from $50
month up. Property-OwneTs near the RAPID transit
routes very generally consider the march OF I'M
provement in real estate TO be due 10 the speedy
methods of travel one merchant saying Ihat ms
residence near Fftyseventh-St. and Lexlngton-aVe'
had advanced 5000 in yalu since the New-l0rk
Road reached that street 1t Is also noteworthy that
not withs aUding the clamOr against RAPID transit a
the start, rents and values along lhlId ana
| Sixth-aves. have increased, and store prop
| erty can only be secured with difficulty;
| The property in Fifty-thrd-st., between sixth and
Eighth-aves is almost theonly instance mentioned
| -tY 10 InyCHI nj
Metropolitan Road runs by the second stories of the
| dwelling houses. Most of the houses, however are
SAID TO have been rented or leased within lew
| weeks at a depreciation OF not more uiah ~ per
! cent from the rates OF last year.
The popularity of French flats has caused many
builders to embark in the enterprise of construct
! ing them. Several hve-stOry buildings are going
| up along the streets between Seventeen and Sew
| enty-fourL-sts They VIII have bTown-stone fronts
| will be finished IN black walnut, and Will have
| suites of eight connecting rooms on each HOOr
! Each suite Is 20 bo furnished with the latest
! improvements The intention Is to rent them ac-
cofding to location at from $25 to $50 per month
for each SUITE. New flats Ia Flfty-second-st., be-
! tween First and Second-ayes, III suites OF seven
rooms, rent at from S2o to T3J Il month.
HOW THE Agents AND BUILDERS TALK.
The views of builders ard real estate agents agree
as TO the improved outlook and the general stiflen-
ing of prices in sales and rentals of real estate At
| the Office of f. II. Ludlow Il Co. it
| was said: Houses in the upper part
| of the city rent more readily than ever
| before on account of their accessibility by rapid
! transit There Is not much moving, tenants pre-
| ferrlng 10 remain IN their present quarters. Inc
average of rents il about the as that OF last
year except near rapid transit routes. where there
! Is an advance In thc best residence districts on
| Murray Hill and between Fourth and SXth-aycs We
are getting quite as good If not better prices than
| wear ago. There rs large exodus from
| suburban districts, and very many people
who have left the country for the clty are
renting flats Flats generally rented bF Jinitors
! OF through advertisements, hut the common under
standing is that they can be got at very moderate
rates"
| Mr. Wnans, of W.nans & Davies, real estate
! agents in Pine-st.. remarked: Downtown rents
are strong and actIy-, ana there ls no giving mp oi
| Offices IN Wal.-st. aud the ncIghhonng streets
! Rents for store property are very 1ar De-
! low Sprug-st. Above SprIng-si. ~ lar az
T.uth-St. renting u slack owing IN part
| 10 the elevated roads carrying trade 10y
| that section. Between the wholesale and Tstdll
centres there is always htte break, aud trade is
! chaugeablc IN ITS character From Tenth To wen
tv-,iXtl-sts. rents fairly good, especially IN
| broadway. la Iourtccnt-st. and lhloh-squdIe
rents are very active and store property Is hcld at
high prices There n not much concession IN rents
! from the rates Of last year, except on iong
| leases Above FIfteth-st, rents have materially
| improved / should say far as and along the