The New York herald., 1879-02-02
Hundreds Of Buildings in Course Of Erss-
ton in The Uptown Districts.
LABOR AND MATERIAL CHEAP.
Anticipated Exodus Of Hoboken
and Jersey Residents.

end of the island made during the last few days.
demonstrates the fact that "hard pan" in taxable
valuations has not only now been struck, but that
things have taken an upward tendency. and that an
OF activity, if not of speculative fever, will
set in with the spring and summer months
This wonderful change in what has been for three
four years the worst drug in the market. far
Offering field Of investment, has been wrought in
great part by the opening up of rapid transit the
east side Of the city, from the Battery to the Harlem
River and the prospect of the completion early in
the present Of the extension of the Metropolitan
line on the west side and the building of the
line Of the same corporation through Second
avenue. Another cause is to be found in the fact
that there less encumbered property Manhattan
Island to-day than has been the for many years
past The great bulk of property bought since 1875
has been paid for at the time Of purchase Good
real estate authorities assert that this is demon
stratable fact and that its effect will soon be felt in
securing healthy tone to the market
large amount OF building is going on in all that
region north of Fifty ninth street and east Of the
Central Park to Harlem River. excepting the low
lying lands bounded by Ninetysixth street to 10st
street. which will doubtless be drug the market
for long time to come unless they can be utilized
for some public purpose. The character and extent
of this building has recently been forth in the
HERALD. Very little tenement property is being built
compared to the better class Of dwellings, those
intended for small families persons of moderate
means. The latter class Of persons, with the ready
to and from their homes and business fur
nshed by the elevated roads, seeking relief from
crowded tenemcnts down town in the more modern
built and comfortable houses which can be had for
moderate rentals in wha. real estate men call
"the upper district" Block after block Of
houses in Harlem that year ago bore
bills "to let." and most Of which built
speculation and sold under foreclosure by life in
surance companies and capitalists. have nearly
all been rented and but very few bills Of this charac
ter to be west Of Second avenue These
houses bring rentals varying from $500 to s7OO
o year. They only rented for a year, however,
with very few exceptions Owners refuse to give
leases for longer period. prefcrrng to wait for the
upward tendency in prices which is looked forward
to in the spring.
Most real estate dealers and investors confidently
predict brisk building with the opening of
the spring months few more cautious ones. how
ever say that while they look for period Of mod
crate activity and hope for SUCH 1t is yet too early
and the rapid transit roads too experiment
to predict with certainty what will be accom-
plished in developing the upper end of the
island during the next year. At present
building operations mostly con-
fined to the side the city, above Fftieth street.
west side where property is held more dearly
count of the proximity of the many beautiful parks
and drives. and where undoubtedly the arstocracy
will settle in the future in elegant palatial man.
sions there is general stagnation far present
building operations Real estate experts
however. foreshadow the resumption of building
activity on the west side 30 soon that region shall
be opened by the extension of the metropolitan road
to 18TH street. Clustered in this region the
Morningside Park, Riverside Park Manhattan Square,
the magnificent Riverside Drive, the Grand Boule-
ward and Central Park the cast In addition
TO these attractions those who build in the
more westerly section, in proximity to
the Riverside Park will have for a
foreground the beautiful Hudson with its
panorama Of sail by day and illuminated crafts of all
sorts by night with the Palisades for background
constantly before them to relieve the eye. With high
ground. salubrious air at nearly all times and lovely
open spaces surrounding all, there be ques-
ton as to the class of people who will thicky settle
in this region during the next ten years or perhaps
even shorter period of time.
FELT.
The greatest want felt AND what may perhaps
prove bar to- the full realization of the benefits of
rapid transit is the absence scarcity of small
houses. OF two three stories in height which
within the reach OF persons of moderate means.
such artisans. bookkeepers, clerks, statesmen and
tradesmen. These houses should rent from $500 to
would %ndouSsody nnd readS aag Ssers Sa,on in e .he
opinion OF real estate agents. a. they would attract to
the upper part OF the city and to the annexed dis
who have been driven away to Long Island and New
Jersey by the high cost of living. particularly Of
metropolis. Many such persons find that
the cost of communication on suburban rail.
for articles Of consumption away from the great
markets. has made the expense OF living In the
suburbs much greater than here and have already
returned to the city and settled the upper part OF
tic city. They viii be followed by still greater num-
bers when the spring months approach. and the
prospect of obtaining comfortable homes at mod
eratc rentals within easy access to their places Of
business seems assured.
BuI.prSGs FINISHED AND IN pnoGRrss.
During past year It's first class dwelling houses
have been erected. There have also been built dur
the class. about thirty apartment houses and
a trne over hve hundred tencmcnts. The following
list will show where notable building improvements
now going ON mp town. somc of these having
been Just conf pleted Madison avenue and Forty,
nth street, four houses; Madison avenue and
Forty ninth street. six houses; Madison avenue
and Fifty fourth street, hve houses; Fifty.hfth
street. Madison avenue. six houses;
Madison avenue, between Fitty.ntth ., s and Fifty
between Fifth and sixth avenues hvc houses; Fifty
sixth street. between Fourth and Madison avenues.
four houses; Fifty-sx.h street aud Firth avenue.
Ave houses; Fityscventh street, near Madison
avenue. one; Fifth avenue. between Fifty-thrd
and Fisty-siIth street, two ;Fifth avenue. be-
tween Fifty-scventh aud Fifty y-eghth streets,
stec Se,See ,rss r.sa nssr
Firth avenue. two; corner Madison avenue and
Thirty third street. twoi Thrty.fourh street, be,
tween Park and Madison avenues, one
Thrty-sixth street. between Madison ana
iifth avenues, one; Fifth avenue. between
Fifty fourth and Fifty fifth streets, one; cor.
OF Fifth avenue and sixty first street. house and
stable; Sixy-ifth street between Madison and Fifth
avenues. one; sixty-eghth street. between Madison
and Fourth avenues. one; sixty seventh street near
near Fifth avenue. 'a'' ays; sisiy'cish,h street
and Madison avenue, ten; Sevcntieth street.
and Madison avenue. Ave; Fifty eighth street. be-
tween Fifth anu sixth avenues, four: on the same
block four more are crocting by difcrent owner:
Fity-frst street, near Fifth avenue, one; Madison
svcnue, between Fortieth and Forty streets one
aud at Sxty-fourth street and Fifth avenue, six.
Those all what are termed houses OF the first
class. Houses designated among those OF the sec
ond class also erccting at the following described
points AT Fifty NTH street Fourth avenue ten
houses; Ffty-seventh street and Fourth avenue,
Ave. Fifty street and Lexington avenue two;
sixty third street, between Fifth and Madison ave-
Iucs. lve, and Madison avenue aud Sxty-second
street. ton. III the region bounded by sixfieth and