The Red Cloud chief., 1881-06-09
Hieli-Prired Real Estate in New York.

A recent New York letter says: The
three costly ~buildingSOn Fifth Avenue,
for Mr.. Vanderbilt and two OF his sons
are approaching completion. The
double building for Vanderbilt. Sr., at
Fifty-first Street, is a good piece oil
architecture, but would be better if the
building were n story higher. 1t looks
rather squat in proportion TO the
ground covered. The material is the
same brown stone that is used in nearly
all the buildings on the avenue. Ii does
not wear so well as some other kinds OF
stone. but there is none else that looks
so rich. 1t will probably he n year be-
fore the inside work is finished. On
THE next block above stands the new
home of one of the juniors. 1t is not
SO large rs the paternal mansion, but il
is more ambitious in architecture and
NAV be called more ornate. The angles
are very numerous and the whole struc-
turc more SNOWY. The material used
is :. sort of gray limestone, n novelty in
stylish buildings in New York. 1t is
not handsome, but it is different from
what is seen in other buildings and that
may make up for lack Of good looks.
Still further mp, at the corner of Fifty
seventh Street, the most stylish of the
Vanderbilt houses has risen to the roof
and is now closed in. 1t looks better
than either of the others. The general
design is neat as well as elaborate, and
the effect is pleasing. Inthis house tie
material is brick and light colored
stone, in about equal proportions.
There is no suggestion of baroness any
where, nor of overlooking with fancy
work, either. 1t will take Longer to
finish the inside of each of the Wander.
bilt mansions than it has taken to build
the outside. Probably in a year from
now the three viii be ready TO occupy.
You NAV now walk up the ven all
the way to the park and find hardly
vacant space. Everything is built up,
and symmetrical rows of brown stone
fronts line the way on both sides. A
man want g to buy must pay at least
IL million dollars for a full
sized house well finished and in
good order. ID. 0. Mills. the California
millionaire, paid something about that
figure, | believe, for the mansion he
bought on the avenue some time ago.
Mr.. Mills seems to have faith in New
Iclh lNsl tSldAt- lliS liiCSl pun tIdSt-
down in Broad Street, is the largest
made here in several years. An in
vestment of nearly 81. 800. $50 is worth
noting. The property bought by Mr..
Mills runs from the DreXel building. at
the corner of Wall Street, down TO EX-
change Place, the length of an ordinary
block. and il includes, besides, one LOT
on Wall Street, east of the DrcNel, so
that entrances may be had on both sides
OF that building. The exact price paid
for h property is understood to be
Sl.4o0. eco. The cost of building on it
will probably be nj least 1000. COO more.
There is no place in New York where
real estate pays better. The %neighbOr-
hood fairly swarms with brokers. and
oflicesa are alwaysi in demand. It's direct-
ly opposite the main entrance 30 the
Stock Exchange. and the most busting
spot in the city. ii is nj the corner OF
Broad Street and Exchange Place that
nearly al the call loans of the brokers
are made. Millions and millions change
hands there every day, and most of the
business is done on the sidewalk. All
the brokers occupying offices on the
property bought by Mr.. Mills lave
received notice to vacate on the lst
of May. The notice has caused a great
scramble for other Offices i'm the same
neiyhborhood, and sent rents up enor
mouSly. The rents of the vacant offices
in the DreNel Building went up fifty per
cent. an hour after the notice was
served. 1t is in this building that the
business of DreNel. Morgan u Co. and
Morton. Bliss X Co. is carried on.
The location is just n block from
Trinity church. 1t was on the opposite
corner that George Washington was in
augurated President of the United
States. But Wall Street is 4 mighty
different place now TO what it was then.