The Palatka daily news. (Palatka, Fla.) 1884-1888, 1886-06-06
NEW YORk'S real. ESTATE
The Upward Leap Almost Surpasses
Belief.

Belief.
NEw YORK, April eli real estate in
GOTHAM continues to increase in value
at the same rate during the next y years
nearly every large holder will find
his property Iuadruplcd in value. The
upward leap IN recent years almost sur
passes belief. Twelve years ago stable
On Mercer street. between Houston and
Blrrcker streets. was sold for $s0, 900,
ON long time. Six weeks ago the pres
cnt owl ner refused $5OO, 900 for it, Prop
,rty on the northwest corner Of Liberty
and Nassau streets was bought six years
ago for $4,000, $60,WO being left on
bond and mortgage. A year ago the
owner refused $i15. .000 for II. II faces
the New Mutual Iife Insurance build
ing erected since the purchase was made.
The Sun publishing association paid fsO,-
OOO for the property which It now &c.
cupies. Six years later Whitelaw Reid
determined to build the present Tribune
building. In order To secure, il possible,
a frontage of Il whole block he offered to
buy the Sun property for $5OO.OOO. MIR.
England. the late publisher Of tho Sun.
wanted To accept the otler, but MIR.
Dana persuaded him not to. To-day the
sun property would bring nearly \ mill
ion. Frrnch's old hotel, 10 feet from the
sun property, still further illustrates the
rise in the value Of real estate. Four
years ago it was leased for $lS, ,OOOa year
including furniture. II now commands
~, ,ODO "a week. without the furniture.
The property was sold by auction not
r.,
Judge Hilton refused 81 ,OOO, 900 for AT.
Stewards old wholesale store fronting the
city hall park He put two extra stories
ON it and now holds it at $2,OOO,OOO. The
Stewart retail store near Grace church
PAYS "A round rent of XsI, 900 o year.
Within twenty years under the lease the
entire property will be turned over to the
Sailors Snug iIarlnr. The famous hold
ings uf Trinity church would sell to.
day for four times rs much as they
would have brought ten years ago. The
real estate of this soul saving institution
isestimated To be worth $lj0, 900, 900. Had
it reiaine the property it sold during the
pr ,grcss of the suits Of the alleged heirs,
to the estate from which 1t originally in,
l"rItcd the property its possession would
b. worth $3.50, 600. \ considerable
pnition Of ITS property is under long
leases, which are just beginning to ex
pire. As the long leases expire hug"
buildings will be erected, and he let to
men of means for business purposes.
Where the leases prevent the erection
IT such elitices. brick stores Of two
aud three stories will he built. The in
tpntion is to make these stores pay ex-
pcnses and fair rate Of interest until
the lapse of long leases nearby gives an
opportunity for permanent improvement.
Thus butcher shops are rapidly taking
the places of private residences, to give
way in their turn to ten story buildings
in the future. Five years ago the ten.
ants of the corporation numbered thous-
ards. Ten years from now they will
number only ~ many hundreds, but
these hundreds will pay sums ranging
from $40. 900 10 $lOO.OU0 a year. The
commissions to agents will be much less
AMI the trouble in collections avoided.
While decreasing its expenses enormous
", the vcstry will thus quadruple its re-
crpis.
FORTUNES ~ STABLES.
Few people realize the fact that mil
lions of dollars are invested in stables
and their contents by wealthy New
lorkers--the estimate. Of course, abSO
lutcly ignoring As unworthy of mention
the investments required to keep up pri-
vate turnoits Of an unpretentious ma
ture, livery stables and conyeyances used
for public and business purposes. One
of the finest and grandest Of the topofty
private stables is that of Pierre Lorillard
ON East Fortieth street His stalls oil
ways contain from six to ten costly
thuroughbred4 In the carriage house
on the first and second floors are car
riage- Of almost every description, and
IN another room is break for training
horses and Mr.. Lorllards four hand
coach. The harness room con sains eight
saddles and ten sets OF harness, hung up
IN perfect order. and glass case full of
bits and chains. the steel Of which shines
IKE pure silver from repeated scourings.
In the third story the coachman twho
has been IN Mr.. Iorllard's employ for
years AMI his family have their apart
mpnts, Five extra men are hired to
assist the goodman in the care Of the
tables. Everything is plain and sub
stantially built Of solid wood. Mr.. Lor-
lizard keeps all his thoroughbreds at his
Rancncas farm in New Jersey. where
there are about 800 horses and 100 men.
The William H. Vanderbilt horse pat
are--it cannot be called stable-s!ands
at the corner Of Madison avenue aud
Fifly.sccond street. The building is
high and roomy. and IL pressed brick
flrale. trimmed with light stone, sur
rounded 10y Mansard roof makes it an
imposing structure. The value OF the
land, buildings. horses and carriages Is
about $500, 900. Cornelius Nanderbllts
stable is even finer than that " hi II was
his fathers. There are now eight horses
IN the stable, and four groofns are EN-
ploycd to look after them.
The famous Bonner stable is at No. ii