New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-22
UP IN BUSY HARLEM.
4 BOOM FOR REAL ESTATE.
AMONG THE LAND OWNERS.
.GRow1NG FASTER THAN THE BOOMERS CAN

.cRow1NG FASTER THAN THE BOOMERS CAN
LEAN INCREASE IN VALUE
Tho boon that the selection of the site for the "ord
Fair has given to Harlem real estate can s'ao1N NC
.aI,od he reonIe who are not up there and are no.
acquainted with the facts. AS soon as tho uoO'''o"
~ the Committee on sites became known i'aSe
holder ransacked their safes to find out whehcr oil
not tbe time of their leases extended thOugh INC
summer OF ls92 and If not, many OF them inme''aeH
tied 10 get the owners of the property 10 eA'ehu 'he
lease II IS scarcely necessary TO say that '~S III
var,ably failed. one man who has thleo ia'Eo Ea'
bous,s I'm one block, that have been on tue mdrAct
some time and but few Of them yet fehto"' le'"S'u
10 rent his houses for longer terra thah 10 NAY y
ZOO This +, only one instance Of many. One
merchant who held lease for store Ia the he'shoor
hood of one-hundred and fourleenih-st' anu 9o'en'
ave for which lie held lease for ten years al lsr
ronta was ub!lant and expects to make ioftuhe i'll
tho next three years. 49,
CooI.beaded men are not enthusiastic and they
saw that though the Fair will undoubtedly adu ten
years natural growth fhe upper part oil the city,
they are not so sangune that Individual fortunes arc
going 70 be reaued right ana left. For a number OF
vears Harlem has been built up 50 last that inc
Older res dents could scarcely realize It's growth Inc
rapd evolution OF town best known IOr IVs eOa'S anu
shanties into a large city cannot be seen from uhc
inside but must be viewed from distance FOR TINS
reason many of the men who have lived there nearly
pornics Tor spccu at on Ole. Cd by the rapid gn"th
ana the runs have been picbed usually by outsiders
The fact Is that there ha5 also been class OF Ooohes
in the upper part OF the city during the last lew
years who could give points 10 many OF ther western
contemporaries But though they have, knowingly aS
they thought, stretched the TRUTH to say the ledS III
sounding The praises Of that section the place mas
grown 50 fast that all Of their untruths have been put
10 shame, and prominent man put IT, hdrielh
has fast than the boomers COuM NC
II was not many years ago that when sols one
vcntured the prediction that lots In Onc-hundrtu
twenty fftl-st would be worth $4,000 each In the
near future his prophecy was considered the pro
duction of a brain biased by enthusiasm Three years
ago the lots were sold for prices ranging in the neigh
borhood of $4,000 Gradually they have risen In
value unti during the La, year $50 900 was considered
fair price Last week a bona-idc offer OF $oo'ooo
was made for unimprOvcd lots In Onehundre' anu
twenty Gfth-st between seventh and Eighth aNe'''
and the offer refused. This IS Only adHPio Vi
what has been going on all over the upper pdIt VI
the island. since the cable road was O"A' aio"s
Tentave one visiting that thOroughfaic after an al
sence of two u.Tee months would ind IL uuhcui'
to IDENTITY the spot he hal been in last, and "ouiu
imagine that he was in an entirely dihert'lt town
Heretofore the building has been mostly oI hohicS'
But within a few yeaIs-One might almost say mon rs
dozens of line business blocks nave Dccli o'''
dav The hanusoine new Harlem opera House WI
lis spacious halls and lodge rooms Is laH sample Vi
The new era IN bding, In that secuN- lhCIV arc
still many homes in one hundred and wen IN al
but the time is not far distant When lhcy VIII an
have TO give way TO business blocks IL Is one vi
the natural bus streets In that part OF me Guy
and whom the properly becomes enhanced III value
to celta.n cAteu, people, who are luChS ehou rh
TO have held on to their homes Will sell them iOf
enough to buy a home I'm a queter street ana nave
a nice little sum to put ia The bank besides Iher'
are many careful business sncn who believe that
though the rise IN the prce'of property during the
next few years has been discounted 10 large eA-
tent SIN there many fortunes 70 be made IN
that district as there in the same proportion 81
land in the West. II beforehand " ere
The choice property Of the uIr' will he. neighDor-
hood seems 10 be made good bad or in1hennt ~ m
ncIv sometimes without evident cause. and when a
street begins rctrnGradc there IS seemingly nothing
that can save H. THIS equally true of III" properly
IN a particular street being made valuable and II
one can see long enough beforehand VIII re those
choice spots are be- and he takes advantage of his
foresight there are eti many fortunes 10 be made in
real estate speculation in Harlem.