The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1889-08-17
MANY VACANT HOUSES.
WHY 'TO LEI" SIGNS ARE so NU-
MEROUS ON THE HILL.

front of which are displayed ''To Lett
signs, so many, in fact, that no observant
person who walks about that district can
fail to notice them. My attention was
called to it yesterday, and called upon
several prominent real estate dealers and
landlords of that section to see If they
could throw any light upon the matter.
A careful perusal of the facts given below
WILSON convince anyone that there is no
need of alarm concerning the state of our
real estate market
Mr.. c. G. Jewell, of the firm of c. c.
Jewell g. Co., opposite the Court House
has been conducting a real estate busf-
ness in Jersey City for the past fifteen
years. He attributes the great number OF
unocc upied houses to several causes,
which are not regrettable.
''In the first place" said he. 1.-THE build
ing and loan associations are putting up
great many houses for thrifty persons of
moderate means. These persons move
ished, and there are not always imme-
diate tenants to I'LL the houses vacated.
The building and loan associations are
undoubtedly taking great many rent
payers from the market.
"Then, Peter Henderson, Charles Seid-
Ter and other home capitalists, are doing
a great deal of building. In fact, the
past two years have been great building
era. And the landlords are not making
such great deal of money-actually not
six per cent. The real estate business is a
safe business, and the dealers are satisfied
if they get five per cent.
"Protts in the mercantile business are
49, n f1aA hfss
Jewell. CLERKS and other employees
salaries have been cut down, and that
class has been obliged to economize. They
drop from the $50 a month house to the
SIS or $40 house. There are few S25
month houses in the market.
There has been a great demand for
cheaper houses, and there are plenty of
capitalists willing to supply that demand.
THE DEMAND WILL CATCH UP.
II do not think that competition with
other towns has much to do with the
matter. There is undoubtedly just at
present a greater supply than the de-
mand. But people are coming all the
time, and few are leaving. You very sell
dom hear tell of u family moving away
from the Hill when once settled. Why
should they? 1t is a beautiful locality. 1t
is convenient to New York. And, in
summer, no matter how warm it may be
elsewhere, we've always a breeze-either
from lnG NEW OIk Day VI Jne NJIauGc
Mountains. From one or the other d1rec-
ton, always.
THE only drawback is the want of
rapid transit, and we're getting that. In
this connection / am forced to admit that
we have suffered slightly in competition
with Harlem, Williamsburg and other
immediate New York and Brooklyn sub
iurbs. AS to such suburban places of
residence as along the Orange Mountains
and, in fact, any beyond the immediate
leity limits, the competition now prRcti-
cally amounts to nothing
'"Ihe idea il very sfasclnatingsat first to
the clerk or employee with q rat salary;
but having so many times to rush away
from good customer, or be delayed an
hour or SO in reaching home is rapidly
dispelling the fascination.
Il am glad we have at last live paper,n
continued Mr.. jewell, in conversational
mood. 'One that takes an interest in
Jersey City's real estate affairs. I
like THE JERSEY CITY news 1t is
good, live paper. Heretofore we have
had to rely almost solely upon New York
papers in fairly representing our real
estate market, and consequently we have
suffered"
Interesting interviews with John A.
Lewis, of No. 5S3 Bergen avenue, and
Foys. s. Co., at Foye place, resulted in
eliciting pretty mucn the same informa-
tion concerning the increase of unoc-
cupied buildings on the Hill top. ALI,
however seem TO think that the houses
would all be filled.
Mr.. Lewis thinks the horse car mon
opoly serious drawback; but gentle
man representing Mr.. Foye says that the
! New York and Brooklyn is greater than
tine number of families that has left,
because insufficient facilities in reach
ing home after business hours.
AN INGENIOUS EXPLANATION.
Mr.. u. &C. Horth, of the firm of B. f.
Horth Il Co., No. 721 Grand street, gave
two main causes of so many unoccupied
houses First, an over production; second,
the recent Washington Inaugural cele-
| bration.
This latter cause" said Mr.. Horth
! 'may appear trivial at first thought. But,
really, i think it one of the main causes.
| 1t came on just at the regular time for
| lyn who intended moving here in April
abandoned the idea, because they did not
wish to be torn up just at that time. You
know we only had one day as a holiday
over here. Over there they had several;
and it was impossible to get furniture
trucks and vans through the streets dur
| ing the regular moving week.
1.-THE market opened up lively; then it
| took tumble that surprised me.
"Of course there are minor reasons.
Some people complain of the water; but
| / have lost no tenants through that COM
| plaint. AS rule, people who 20 away
| come back. A woman who recently
| moved her family to Newark told me
\ Yesterday that she was obliged to move
| back here again as lively as possible ON
| account of her health.
! ATTRACTIVE TO THE ECONOMICAL.
| "Rents are cheaper here than in the
| suburbs of New York and Brooklyn. A
| great many New Workers and Brooklyn
| ties are looking around here for homes,
and the market is about to take another
! boom.
/ lone cause of these unoccupied houses,
\ which | might mention is, that landlords
| of some of the old houses refuse to put
| them in proper repair. People will nAtur-
| ally pay few dollars more for q new
house. and there never was time in
Jersey City, to my knowledge, at least,
! when so many new houses were put up as
| within the past two wears.
/ "The Newark branch of the Central Rail
road is doing great thing for the prop
erty owners along Arlington avenue. -Four
STOPS are now made from the ferry to the
| Hackensack River. AS q result, lots on
| Vreeland street, within a few blocks OF
| the depot, that sold in 1887 for $3.50 and
| s7O0 now bring 81 600 and 81 100"
| THE FALL WILL BRING RUSH.
l. Van Winkle & Sons, No. 5S5 Communi
| enquiries for houses indicates that there
| is not an r-production.
1--WE have recently had dozen en-
| ouiries," said one member of the firm
| afrom New York people who will move
| o,,a, hara in the fall For Soma REASON