New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-18
NETWORK REAL ESTATE
GROWTH IN VALUES IN THE NORTHERN
WARDS.
DIR John H. EDEN TELLS HOW 1T is POSSIBLE
FOR YOUNG MAN TO BECOME THE
OWNER OF HIS HOME.

OWNER OF HIS HOME.
The growth in population and in property values
in what Is known the northern wards and the
Annexed District is interesting subject to many
people. The increase in population, especially to the
north OF the Harlem. In and about University
Heights In the last ten years. is astonishing from
the suburban point OF view. In Fordham and FORD
ham Heights alone since 1885 the increase has been
from few hundreds TO nearly ten thousand. a
great deal OF this territory was part of the estate
OF George W. ard Moses Devoe. the former having
his summer home right In the heart OF Fordham
Heights In Jerone-ave. Possibly one Is better
acquainted with realty conditions there than Dr.
John H. Eden. who has to do with half-dozen or
more real estate syndcaes OF which he Is president
and directing head. Dr. Eden some years ago fond
that real estate more lucrative than the prac-
tice OF medicine. and turned his entire attention to
the study OF making homes for people ana fortune
for himself. To a Tribune reporter who called upon
him. he gave some interesting facts regarding In
crease In values.
TAKE" said he. "a well-known property. that Ct
the Fordham Hospital. example Ten years
ago that property was sold for 5000 and to-day IT
could not be bought for $1,000 The growth OF the
entire surrounding country has been In about the
same ratio OF Increase or nearly four TO one. Lots
that ten years ago sod for from $3.50 to $780, are
now worth bare Of improvements. from $1,000 to
$1,000 And the ridge which Fordham Heights
stands and which extends up and down from that
point has beer taken up by an excellent Class OF
people Many of the university professors own their
own homes along the ridge near the site or the
university The best part Of all is that this north
country has never been afflicted with anything sa-
voring of a boom. The growth has been steady and
the advance in price just constant Ii has nevar
had a setback. and prices were not affected by the
anlc of years The property nowhere along
the ridge of the Harlem has ever been adver-
ised In the usual way. This is so with very Few
exceptions The sales have been owing purely to
a process Of personal solicitation.
How IL that done? All over the city there are
agents and they have the city plated into districts
and an agent in charge of a district makes It his
business to be the lookout for men who are likely
to be purchasers of property. The record OF every
nan especially young business men, clerks and the
like is looked up His business capacity and re-
sponsbility carefully noted. and II he Is a de-
sIrable man, at the first opportunity no is APP
preached and an effort Is made to interest him in
himself Say he Is a clerk salary OF SIS
save 500 a month from that sum to apply 10 prop
erty Thus in two years he can own a lot free OF
all encumbrance. Then IL he wishes to build a
house. that is where the Building and Loan Assoca-
ton steps in. agreeing to put the house for him
He can choose his architect and have his
plans just to his liking. and has nothing TO pay till
the house has been completed. He has already paid
for his lot that the $40 a month Is free to be APP
piled and by the addition Of s. more he pay
S25 a month the Joan: but he Is no longer paying
rent that this becomes comparatively easy.
Thus In few years he is the owner of his
property. The loan association finds It's equity In
the lot, which IL insists shall be clear OF encum-
brance before building is begun.