New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-21

w NJ RYAN SAYS CENTRALLY LOCATED
PROPERTY WILL BE IN DEMAND.
THE SPECULATIVE CENTRE NEAR FoRTY-sECoND-
sr.-vALUEs IN THE NORTHERN PART


sr.-vALUEs IN THE NORTHERN PART
OF THE CITY.
One OF the most active firms in the real estate
brokerage and auctloneer business Is that OF
Smyth Ryan. of No III Broadway. Their DUST
ness is OF general character and their views az
to property result from their experience with all
localities within the city limits without preference
for any particular section. William NJ Ryan OF
this firm. when asked yesterday in regard 10 the
general outlook for business said:
I'VE look for a very good trade during the ap-
preaching fall. The conditions al point In tha'
direction. The property that will be most In de-
mand is that which Is centrally located and Win
large future prospec, in point Of value. All the
most desirable property downtown is taken up py
large buildings. The market Is practically SOLD
out In this section. When occasional onerlng
Is made there is always ready an investor to ac-
cept The opportunity of buying. In my Judgment
the great investment and speculative centre In real
estate on Manhattan Island is In the neighborhood
OF Forty -second-st. The district outlined by this
suggestion would designate as that bordering on
Forty-second-st. south. and fftty-ninth-st' norm
between Sixth and Eighth ayes. This is new
district which has come into prominence within the
last year two by OF the fact that some
where In this locality will be situated the eastern
terminal OF the projected North River Bridge.
Forty second-st. Is on a line with the Grand Cen
trail Station. and from that point westward tnat
thoroughfare is likely to become one of great i'm
portance in the future trade OF this city
THE fact that shrewd foresee the iniica-
tons pointing to the increase of values In real
estate is manifest by the tendency establish in
that section theatres and other places OF amuse-
ment. You may not have noticed the. fact, bit
this Class OF investors usually sure indicators
OF natural trend OF Improvement in a great city
Ike this. might give you instance OF care
fnl investor who recently made his way into that
ofob. ..i,,- io.c
valuation OF $4,000 whereon he has now under
construction large establishment designed wholly
10 supply frst-class entertainment and amusement
OF u diversified nature suitable to all grades OF
society.
"Of course all real estate on Manhattan Island
has settled values according to the particular class
OF Improvement that may be required in the ad-
vance OF trade or in the way Of residential avail
ability. There many points like the new ca
thedra Heights. dt Ons-hundrsd and-tenth-st and
around the proposed site Of the new College OF the
City OF New York. One-hundred- and forteth-st
on Washington Heights. about which much Il said
and written. but question whether these localities
will toT some time to come attract the attention Of
general puroha -ers. There typographical con-
dtions existing there bearing directly upon the sub
years ~ to overcome Thoroughly The ground is hish
and the elevations are abrupt in their approaches
communication. and while the property itself is
available and most attractive, II IS not likely to
there are certain mean. Of access assured
Another section Of the city which according to
M judgment is likely TO afford field OF remark
able increase in values Is the territory embraced
within the Twentythird and Twenty fourth wards
For many years there has been total Ignorance
the part OF investors With respect to the oDpDr
tunitieS for improve OF realty in that district
But the time ie approaching ana. indeed. it IS al
ready here. when men OF large capital have recog-
riZei the attractvenoss Of this addition TO the
metropolis. and money is ready to be supplied to
meet the improvements that are constantly being
planned one thing. however Is not generally un-
derstood. and that Is the opportunity which men Of
moderate means have taken advantage OF to secure
lots there OF whit n 10 erect their homes A num-
Der OF Germans have into that neghborhood
AMI still coming The locality il contiguous to
a section OF 'he Harlem Canal. on the borders
Of which IL s believed that within a comparatively
short period great industries VIII be established
OF course, these will be OF kind which require for
transportation purposes location near the water
front II Is presumed that many large manufac-
tories will be located there. and those who en-
ployed in them viii ind comfortable homes in the
district named without being required TO travel
long distances TO their working places ALREADY
numerous projects on foot for the establishment
OF trolley lines and other means OF communication
both cross,own and northward and southwark.