The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-02-11
BUSY LAFAYETTE.
Railways Bring Factories
and These in Turn
Dwellings = Big
Prices Rule.

There are hundreds Of real estate spec
ulators in the city who are just at present
kicking themselves because of what they
term their stupidity in not gobbling up
sections of that territory Of the city lying
south OF Cemmunipaw avenue when they
had an opportunity of so doing.
Only a few years ago, spectators sized
up the land in that locality as low, waste
land. which would assume no value with
in a century. 1t was offered for sale by
the acre, and at prices which showed now
little value was placed upon 1t. The
holders of the land let 1t slip. in many
cases. through their fingers for taxes, and
a few far-seeing spectators gobbled up
immense tracts.
That once low land, with no value, has
now assumed an Importance that Is
amazing. The land is for sale, but not
by the acre. 1t is for sale, but purchasers
never make offers of hundreds for lot
25x10o feet. they go into the thousands,
and their offers are very often Laughed
at. It Is garuen spot for manufacturers,
and as such it has derived it's value.
Branches OF the Central Railroad sur
tion with tine far reaching lines
of the Lsbigh Valley, Baltimore and
Ohio and Philadelphia and Reading Rail-
road Companies. Il Is also within easy
access of New York. the great shipping
centre. Spurs can be run to every manu-
factory within the section south OF Com
munipaw avenue from the railroads. aud,
because of competition. freight rates are
low. What more do manufacturers
want? They ask no more, but they want
the property. To get it at present re-
quires quite few thousand dollars. and
the holders of the land know that their
price is forthcoming.
COMING INDUSTRIES.
Real Estate Agents Slater and Mer5eles
are both striving to make purchases in
the section, but to every offer they make
they meet with refusal. A brass bed
manufactory recently purchased plot OF
ground on Pacific avenue, south OF Conn
s12, 500 for it. The Curtis Electric
Company Is negotiating for another
tract, aud it Is said has decided to pur-
chase at the asking price, which was
healthy one. Both of these factories Will
be constructed and put in operation DUR
ing the coming summer months, and at
least two hundred men will be house
hunting as soon as they begin operations
This means higher rents, or more houses,
or both, in the Lafayette section.
The Gardner Perforated Cnair aud
Fancy Wood Working Company wants
few lots and it is said $1,000 has been
asked by the owners of the desired lots.
The price is 20 be paid and large factory
erected. The Iowa branch manufactcry
of the Company is to be shut down and
all the work done in this city. This will
bring at least one hundred hands to the
city.
HOUSES IN DEMAND.
Already the demand for small houses
| in Lafayette cannot be supplied. Fiat
houses are not looked for but two and
half story houses can be Kept hlled the
year round. There is no properly In the
| ciuv better located for manufacturing
concerns than that south Of Communipaw
avenue, and real estate men prophecy
that with the lapse OF three years
erty on the territory will be
covered by big concerns and spurs from
| the railroads extended to the works for
| the rapid transfer of freight. No prop
| erty is selling aI any higher figures and
none Is in greater demand. The location
| OF several manufacturing concerns IN
| that locality will start building
| boom which will probably result
10 every inch of property on
C Communipaw avenue being built upon.
1t Ia good spot for speculation and real
| estate men are advising customers to hold
on to their property until the spring
prices have been fixed. 1t is highly prob
4
ette section will change hands during the
| now rapidly advancing real estate season.
| MONEY TRANSACTIONS.
The following are a Few OF Gne safes
| made by Real Estate Agent Theodore +.
| Merseles, of Pacific avenue, since the first
| of the year:
Property at No, ia Pacific avenue, to DR..
| Broderick, for $4,100
| No. 1s515 Halliday street, to William Stewart,
| for 81, 300. The house was frame, having a
frontage of only IL feet 6inches. 1t was form
| erly owned by Mrs. Clifford.
| No. 1903 Lafayette street, to Mrs. De. Sart Of
Philadelphia, for S3,4o0; property formerly
| owned by Robert Kuodwen.
| No. so Lafayette street, to Otto Flemming, for
| $305O; formerly owned by Valentine Miller.
| House and four lots on Fulton avenue near
| Garfield avenue, for $500, TO Hugh II. Beers.
| Two lots on Fulton avenue, between Ocean
and Garfield avenues, for $3.50 each TO A. A,
| McElroy formerly owned by D. NJ. Vreeland.
| Four lots to DR.. Muttart on the corner of Gar
| field and Fulton avenues for Se,9o0; formerly
owned by D. NJ Vreeland.
| The old Garret Vree!and homestead to I. T..
! Merseles for Sc, 800.