New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-29
REAL ESTATE MEN HAPPY.
THEY ARE WAITING FOR THE FAIR PLUM.

WHEN THEY GET IT THEY EXPECT TO FIND 1T
RICH FRU1T-How THEY TALK on
THE SUBJECT
"That this city is to have Worlds Fair said
Charles II. Pnlham ir president of the Bank OF Har-
lem and that the Exposition will be held on land In
the boundaries Of Harlem. in iuxtaposition TO 1t,
are practically assured facts II the Fair Is held
here II must necessarily be held land near Harlem
least On that point all agreed Central location
has been the important point above all others
which has been insisted upon by every one who has
given the subject any particular attention, and so
whether part of Central Park is used not, Harlem
real estate and merchants are the ones who are
going to derive the greatest benefit from the En-
position. Below the place selected by the COMMITTEES
on Site there is. of course, plot Of ground large
enough for the Fair unless Central Park is used ior
the entire show. and there seems 10 be scarcely a
poss Utility Of such thing happening. Consequently
II nhe present site should by any chance be given up
either Inwood, Fort George or Van Cortandt Pnrh
seems 30 be the second choice, and IT makes htue
difference to Harlem in general, although 1t makes
great difference 10 individuals, whether the present
site or one of the Others mentioned Is adopted
Since the Fair became a practical certainty, and IT
was seen that IL likely to go 10
the neghborhoOd Of Harlem prices of real estate nave
begun to stifen and holders not anxious to sell
unless they IN urgent need OF money Inc hrst
umors favored Inwood or Fort George, and accord
ngy the property thereabout much OF which Is HUE
improved, advanced in prices, and It became almost
impossible TO get on option much OF II. Then
suddenly the committee seemed TO change their mlnds
at least so far could be determined by thor acuoh
and selected the present Site That change OF base OF
the committee graf disappointment 10 the holders
of real estate on the upper part Of Ienlh-aNe, ana
the real estate agents whose interests were In mar
l,rl c,H F,sfa ~
near the new site were equally Jublldnt
To the large share Of Harlem people The chahse
mado scarcely any difference. They contenlcd Them
selves with the knowledge that Harlem was gong 10
have the Exposition anyway, and they caren H'te
what special benefits were TO accrue 10 particular
owners Of real estate. The prices pad
for Harlem property have been steadily
on the Increase for some years now ana
although the cry goes up from the rdi
estate agents that there too many hats already
SIN larg. percentage Of the permits that are granted
for new structures in the upper part OF the CITY are
for apartment houses Nearly every real estate agent
I'm Harlem declares that fairly good small private
bou.e, are in good demand, but that cheap flats. OF
which the most are being built are drug on the
market Notwithstanding the opinions Of the agents.
the builders seem 10 have opinions of their own on
that subject and they keep building fats. The
agent, also maintain that builders are not making any
money. but the builders seem satisfied
Whether or not the Worlds Fair talk has pre-
cipitated this natbuilding craze when it IS 50
strongly asserted that there too many flats already
hard say. The owners admit thai IL Is hanl 10
rent their buildings and that they often have To give
rebate in tie shape OF one, two, three months rent
free TO get tenant, which practically amounts to
reduction of The rent but stl they continue to build
There is no doubt that many who own property in the
immediate nei-hborhood of the proposed site expect
to reap rich rewards from IT, II is next 10 Impossible
to get long lease TO property anywhere In me
nelghborhood Of One.hundTed- and-s .Xteenthst ana
Morungside Park now. one man who owns large
double nat near One hundred foureenth-st pos
lively refused to give leases for longer time than
the spring of 1892.
81 win make hotel out of the house
during the FAIR he declared, and make more
out of il during the 5 months thai the Exposition
Sss ,ndn e eUu S TT he mis- aiken in his opinion
he has many who think the same "a he does. There
has been steady, healthy, natural grown gong Oh
in Harlem for a number of years anu ue pace hde
grown 50 fast and the values OF real estate hdve
increased so rapidly that the dealers, VINO uSuaS us
count the rise three years ahead, have been
taken completely By surprise IN many cases ana leit
rubbing their eyes While prices went Dcyohd ueH
When the elevated roads were built the population
was largely made up of men who did business down
town That condition Of affairs IS greatly changed
now. With Increasing prosperity came hne stoies
interest is rapidly developing Throughout the place
large buildings are being pat up for manufacturing
purposes, banks being started with frequency.
places Of amusement are being established and every
day sees the people Of Harlem moro and more IN
dependent. relying their own resources for both
employment and pleasure II IS becoming 50 that
many Of New oIlis most prosperous and well-known
citizons are Harlem people and have many important
interests in that part of the city Added to this
natural growth the " BOOM which the Worlds Fair
will give to every interest in Harlem, he would he
reckless prophet who would dare 10 say what will
he the condition Of affairs up there three years from
now. Go which way one will north of Central
Park he will see signs Of rapidly Increasing
rrcsperlty The public buildings and churches arc
fna the club houses growing I'm number those
aleadv established gaining I'm prosperity. and many
handsome private houses building the hest
trcets and avenues Directly south Of Mount Morris
Park Is large belt % land that Is LITTLE improved
built upon. Much % IL Is I'm the condition that II
was when tho shant'NS' and goats III" principal
things for which Harlem noted. What has caused
10 he neglected II would he hard 10 unless II +
because IL Is shut off from One hundred and twenty
ffth-St by tho high Ground I'm Mount Morris Park
The time Is not far of probably when II will receive
attention from those who want home in quiet place