New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-12
DEMAND FOR REAL ESTATE.
REAL RAPID TRANSIT sORELY NEEDED.
TALKS WITH BROKERS' WHO DEAL IL HOUSES
AND IOTs-sHoEr SIGHTED OwNERs.

TALKS WITH BlsOkEES VIII D4+'@ ~
AND LoTs-sHoETsIGHTED owNLRs'
Richards & Sause real estate agents and brokers
bay that New York property IS naturally IhSn o" ~
count OF the great demand for IT. People 'Nl'c"''
would rather live in crowded quarters In New-NorA
than In a roemy and pleasant place III BIOohl Il VI
elsewhere said Edward j. sausc. IT, OF the Liberty
sf firm Yesterday. ain BrCOHlyn, In the pea-an'
resident districts. piece OF property can De n"u ~.
about 81 COO, while In Network IN similar l"''"IN
q piece OF property Of the same dimensions oo''9 "o'
$40 600 10 $4,000. ! nevc could understand why
there is such a marked difference between hrooNH
and New-York property. The reason for me pr''',
ence ia easily explained, but why There should De- sue"
vast difference in the value IS something ol mystery
People are prejudccd In favor Of Me-" lofA' Inc i'i
has great deal if not everything 10 40 WIN
It. used to think that people ived III oNcr'IO""''
flats In New York because they conld NoI 'Io'u -
live elsewhere but such is not the case' Tor nave
tound ncope Of moderate circumstances living IN WHAT
are called flats in NV YORK Inc reason
for these people living this WAY - h'' "e'o'N''' ~
choice as for the money tley are pa!iHS io' wv
use Of their crowded quarters they could i've CUM
fortably In Brooklyn in pleasant Iocal's D"' p'0P
like 10 say that they live In Newlork ana 'h'' - vi"
chief reason why rents and values are 80 IHs"'
There * not n great deal of New York property loi
sale now There are numerous inquiries for residence
property, but not many offerings are Oe'"e "'u'
People who wish TO purchase are "iiHhS' Voo' " pay
high price for property. and rs the demand VIII oon
tnne to increase, the prices viii naturally 10 up,
SAFE and rapid transit is all that New ORR hceS anu
a the city can only grow in one way fapu 'r"nS"
pust be had in that direction
Philip A. Smyth of smyth Ryan rc'i-oS"'
brokers and auctOneers, say that thl' sprihs mas o
deficient in large auction sales OF iCsiiN "h'on "0
tend properly 10 stimulate the market "I"' -
wanted, he says is several large executors suns "
give tone 10 the market Another thing when he says
IL thnt lp
90 tha, ANYBODY who desires TO purchase conid he'
only 3 per cent on the price paid Tor IT, MI ""''
is also enthusiastic about rapid transit anu no say
that a mere matter OF expense ought not 10 DC 'oi'
sdered in solving this problem
"Tbere are more purchasers for downtown ana cen
,,o, nronertv than there are sellers" said Mr oyo"
And the only thing that will occasion any feai
.orthor uprwn Than Forty secondst. is r'Dpdd-tri'
That argument is old. but We must have rdpo o'''''
IL will become absolutely necessary sooher vi i0
and since II Is inevitable, let II como "o"' Nv" ~
with its future should not look ut the expense Inc
RAND Tupsit Commissioners should not TOOK Hro''"
for the cheapest way to solve the question: Ou s"ou
,,r . wight of WAY on both sides of the city. ana OH
these sides should have two three elevated rVa"s
instead of only one. one OF the Hshls Oh way 'o''
be between Third and Fourth aves., ana the o'''I
between sixth and seventh aves. II would cost PIC
Of money for such privileges, OF course Dut Ne" ioi
would soon reap Its return the increase OF uptown
be built on solid masonry and If constructed that way
ono road coud be placed above the other. WIN the
solid foundation there would not be any Jar ana a
line could be constructed on which could be run
throngh trains TO Harlem and beyond. The men WHO
will secure two such rights OF way uptown rs speak
of will be regarded a. patron saints few years from
now"
Tubbs e. Taylor, the real-estate agents who handle
eIontcalr property almost exclusively. say that the
demand for property In the pretty New-Jersey town
f. almost as great the demand for central ana down.
town New York property. But aS there Is col-
siderable room left at Montclar are supplying the
demand said Clarence Il. Tubs yesterday. There
Is plenty of desirable property TO be had suitable IoF
dwelling PURPOSES from IL 800 up. Houses and lots
I'm good locations can also be lad for from S1OOO to
so5 OOO according to the character OF the houses
SIonclar is increasing in population AT the rate OF
about 500 a year. There Is no boom we uoht "uliV
any but the Increase Is steady and without any ieu
0a1, methods A. growing rapidly than any Olher
t"wn ON the road. In 1901 S15O,oOO worth VI prop
artv in the place was sold: 100000 worth OF IN
provements made and seventN.hNe houstn MI
Snilt involving AN expenditure of over SJDOO0
Eorty trains each way daily between MOnCisii
and New York, so u business man can attend " his
AFFAIRS here without much inconvenience.
What MOntclair needs though. ID more houses
Che enters the race with rival suburbs this rental
season far short Of the demand. Many owners Oh
Montcair property TO think that the snort smppN
Is a good reason for raising rents, Dut that VIII Hot
20 TO- Were Montclalr the only New-Jeraey suburb
This might not be serious drawback. but WIN O'her
towns all around anXlOusy looking for new residents
and Offering every inducement for them Moltclnr
must inevitably lose much growth ana prosperity icS"
she awakes 10 her Shortcomings