The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-30
New York Real Estate-HIgh Values

New YORK, December 26.-The rapid
rate at which New York is growing in size,
wealth, and commercial importance is real.
lied by but few. even of her own citizens.
Unlike London, Paris, Vienna, and. other
great centres OF population, which can
spread out on every side and cover large
area OF country, New York, confined by
natural boundaries and great rivers, can
grow in but one direction-north. So
far the growth OF the city above
Fifty-ninth street has been entirely
on the east side, where it follows the
line OF the horse and elevated railroads. 1t
is estimated that from now forward ten
streets will be yearly required in the mar
row space on the line OF Improvement be-
tween Central Park and THO Fast river IN
accommodate the yearly increase OF popu-
lation. Iuasmuch, however, as the river
borders are taken up for business purposes,
for brick, stone, and lumber-yards, fac
tories, and macbine-shops, and the centre
OF the island from Fourth TO Fifth avenues
is devoted exclusively 10 the residences OF
the eathy, there remains but small space
between, say Lexington avenue and Ave-
nue. A, for the moderately well.to-do, The
humber, and the laboring classes, who
form
This explains the rapid growth OF Third
avenue, which presents almost one continu-
Gus row Of buildings TO and beyond York
vile. on the east side the city is practically
built compactv up 10 Seventy-ninth street.
ANY section OF the city may he regarded as
substantially built up when three f0urths Of
its area is covered with houses. The resi-
due is taken up with gardens, churches,
RI hnpo mi
plots OF lots Just now vacant lots below
Seyenty-ninth street and west Of Lexington
avenue are eagerly sought after by investors
and speculative builders. Within twelve
mouths every inch of this very circum-
scribed area will be absolutely required to
meet the demand for houses from q class
who will not pitch their tents outside OF the
fashionable quarter.
Miilionaires from all parts OF the country,
especially California, are buying houses and
making homes ia this city. The following
advertisement is taken bap-hazard from the
column "Cty Real Estate for Sale" OF the
Herald;
FIFTH-AYENUE HOUSES FOR SALE.
First-class corner house,. ....'''.''..'sdo0'0UU
First. class hou and stable..... 2oO,OOO
Elegant house and stable ooo'ooo
Three fuii-sized elegant houst S. ranging IN -
price from 100000 to-. .......:..:.. I2O,OOO
Extra large house and front lots on Tbir-
ty-fourth street,. .......'..''''' Zoo,oUu
This advertisement in itself epitomzes
the story of the wealth and growth OF New
York. Ten years ago 100000 house was
very rarely met with. Now we have them
by the score. The descendants OF those who
have pinned their faith to and staked their
money on the growth OF this city are among
our wealthiest citizens. Witness the AS
tors, Goelets, Rbinelanders, Lenoxes, Ste-
yenses, Whitneys, Remsens, Suydams, Ha-
mersleys, etc.
During 1870. from January I'd to date,
there have been flied 1867 plans for new
buildings againsr960 submitted during the
whole OF 1879 In the same year there were
but 80 plans submitted for buildings OF any
kind TO cost more than $4,000. Among
this number was the Smith building, at
Nos. 3. 3. and CourtIand street, costing
s15O. 900; the Stevens building, upon which
5000, 900 was expended; and several private
residences. The most expensive structure
erected during that year was the Fifth'ave'
nue residence OF William II. Vanderbilt,
which cost S750,000.
THE c0sTLiEsr BUILDING
for which plans were received this year was
for the large hotel aud restaurant being put
mn by MIR. Edward Clark on the entire block
of Eighth avenue, Seventy second, and sew,
enty.thifd streets, TO cost when iinlshed
81 900, 900. Forty-three plans were. ap
proved for public and private buildings
each OF which was 10 cost over $4,000, sucu
as tbs building OF the Association for the
Improvement Of Deaf Mutes, on Lexington
avenue and Sixty.eightb street, upon when
the Society spent sl25,00O. Besides these
the plans for other residences on Fifth ave
| nue. and Forty-ninth street, OF Robert and
Ogden G0elet, each costing $4,000, ant
the 900 Post building, are deserving o.
notice.