The New York herald., 1879-03-09

dearer. Resides shey conn 5~vs here in . straight
line from tneir homes. and t''e ability OF east side
storekeepers to pay the same rscts as last year in
the face OF the hard times is undoubtedly due to the
introduction OF rapid transit"
BROADWAY RENTS TWENTY PER CENT LOWER.
great deal has been said heretofore Of rents along
Broadway. but no official declaration that decline
was taking place has been made At the Office OF the
Lorillard estate, however Mr. Jackson said:-
"Broadway rents have fallen from fifteen TO twenty
per cent all the way between Canal and Fourteenth
streets. 1t is the poorest street for the rental OF
property we have our books. 1t is the most
heavily taxed and worst managed, and people cannot
pay the rents that ought be paid for stores along
do just well in the side streets. There will no
doubt. be change when the Broadway railroad
is running shopkeepers will then. perhaps. be
anxious 10 come back, and the supply may not be up
to the demand. Something must be done for Broad
way. Not only am l in favor of the Broadway cars.
but want the University place. the Fourth avenue.
the Bleecker cars ali to come into broadway.
The ladies will ride down in them from all sections
of the city and make their purchases along Broadway.
and the street Will then once more resume Its place
as the leading business street in New York" Mr..
Jackson said. further. that first class building.
measuring 2DxlOO feet could now be had for 5000
rent per annum.
UNION SQUARE AND UPPER BROADWAY.
But few stores of note to let in Broadway above
Twenty ythrd street. and in Fifth avenue below Twen-
tythrd street but store is let. These locali-
ties now the leading centres for retail business.
and owners, it is said command their prices.
There Is marked difference, however, between the
east and west sides of Union square While the
west side owners readily command tenants at their
prices. property on the east side is dficuit to
dispose of even tor Offices In instances there
is difference of fifty cent between the prices paid
for stores lofts the and those the west
side of the square. Holding their own remarkably
wel however are the stores and offices on the south.
and northern Sides neither side being considered
as much off the line as the east side.
DOWNTOWN OFFICES STORES.
The erection OF numerous Office buildings. IN addi-
ton to those already IN existence has Increased tho
supply OF offices for the of lawyers, inventors.
architects and commission merchants. Those in the
immediate vicinity of the Post Office readily
taken VI last year prices, and those WAL
street and adjacent blocks. In other localities such
broadway, above Chambers street. there is o gem
eral falling of Of about ten per cent in office rents.
The Boreel building just erected by the Astors in
the immediate vicinity of Trinity Church. is the
latest addition to this class of property, and Mr..
Ludlow states that the greater number Of the Offices
have already been rented.
Most of the moving in the dry goods district takes
place before or after the 1st Of May and is effected
at time when trade Is least busy. STILL SINCE the re-
cent fres 1t is said more or less general demand
for q reduction or rents has been noticeable. As .
disposition to increase their rates has been mani
tested the part Of the insurance companies
responding decline in other expenditures is de-
mandcd by many firms who heretofore have steadily
upheld the rent market in this most expensive 10.
cality.
Along the lower section of Front. Water and Pearl
streets rents for stores and lofts about per
cent lower than last year. but not along Fulton
Washington streets. where. particularly in the mme-
date vicinity of Cortlandt street, there Is
rent market is the more steady demand for stores
and lofts along the extreme lower part of Broadway.
caused not only by the proximity OF the elevated
railroad termni but aso it is believed by the pro-
spective early construction Of the new Barge House
on the Battery
HARLEM AND YoRKvILLR.
As yet the supply of houses the upper east side
of the island is equal to the demand. The places
still look too barren and uninvting for imnledi
ate large influx of residents. but building goes rap
idly forward and streets where rows OF houses
completed readily find tenants. In fact" said
prominent real estate agent ut Harlem Elf had q
large supply Of sixteen foot front houses two or two
and halt stories high which rent for $40 to $50
month, could readily lease fifty of them per week.
In their Absence however the people stay away from
this locality thus far most OF houses built up
here yet too high priced encourage large in-
crease Of population" Nevertheless the reporter
ticed troops OF house hunters all along the sido
OF Harlem from 115th street up to l35th street. The
renting business in that section especially that
of Harlem lying west of Fourth avenue appeared to
be in remarkably healthy state most OF the houses
worth from $40 TO $50 per month being readily dis
posed Of. Any number of cheap dwellings being
erected that side of the island. Still there not yet
such great influx from New Jersey. Brooklyn and
neighboring parts predicted would be the
case when the recent introduction Of rapid transit
rise to additional speculation in real estate.
The parties who now seek homes in Harlem are
those who abandon the boarding houses of the
tra wards. ''Some OF them will como back. said .
Pine street broker yesterday. after they have had
the fever and ague."
Upon inquiry as whether any scarcity Of tenants
was felt in the central part Of the Coy. between
Eighth and Thrtieth streets. owing to the constant
northward movement OF large portion of the citys
population the reporters attention called TO the
fact that in city of million inhabitants thera
always thousands OF anxious to be within
walking distance. not only OF their own places OF
business. but also of the theatres and hotels large
class OF the population being kept by their business
in constant Intercourse with these hotels and public
places. There Is always quite y number Of people
coming back from Harlem. that thus far at lease
the equilibrium has been disturbed but little.