New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-02
YORK REAL ESTATE.
THE CITY HALL. is THE TRUE BUSINESS
CENTRE
or. ,r,,ov1xc prpILc BUILDINGS UPTOWN
HAS cEAsED-AN INCREASED DEMAND
ot-t-trrS DOWNTOWN.

HAS cEAsEp-AN INCREASED DEMANp
FOR OFFICES DOWNTOWN
NH, Il, = significant absence OF talk among real
Toto mon NJ late I'm regard to the removal OF large
,uhlic and private Institutions TO new site up
Town At first II the Postofiice tnat was gums
20 abandon its site at PARK no" anu p'
hon II was the city Hall. then the New iorh 'o'n
Exchange and go throughout the iis' OF sie"'
institutions Real estatc men have remarked upo"
IN. absence ~ this kind II talk IN the last ""
o,,,hs and have been nquIring Into the cause Vi
- Their general opinion Is that these DulidnRs
uiu probably remain wher. they are TOT uec"''S ~
come because the growth " the population vim"
a,u,s NJ ten miles OF the CITY Hall Is strictly on
,h, Inns ~ convenience in reaching that point
rho argument advanced by those VINO "eS"' ~
nave these public offices removed uptown - mn.
-. ,u he more centrally located laklhH '"'S
c,,v alone into considers tion this may De- true, '"
all the people who 10 business IN the zoe " ''"'
haitian Island DO not I've on that isani' !" ~ -
may he seriously questioned II "A hlaJo'''s W " "
,.,,,, hrsiness below Canal-st. I've IN Ne" io'h
90, large number 1--we on Long ls.an' staten
90, :, New-Irrsey and the lines of transit
, a,d from, those places run strictly "''h re-
=, 90 tho convenience Of reaching IN" 'o"'i par !
-, Manhattan Island. The region Tor '"""' ~
any miles around the city Han has neeh S'u'''''''
I,loped In The las; hfiy years wiih 'h'' point as
-. o,,rc 70 move the public Offices ana great
To- institutions NI'toF'i's N''''''''
,'., 3D.. entire section. AL the lines OF u'''l
,, nav. IA he changed and such an upa"aVa Of
,h interests Of the enormous population "'"' ~
noc.sserv that It would be- disastrous 10 many
49,, ,.,ur. Of the case which Induces rear
s,,,. men 70 believe that the uptown mo'e"''",
90 far 40 important pubic interests "'' '
,, r.vor begin They realize that the lines VI
, ., and from the city Hall TO all points Oh
49,, .o,uass have been firmly established. ana 'h"'
ali at,ernp,s 10 change them VIII he iu''''' N'S
,,,enpt TO move the public offices VIII De met WI"
, s,ortn Of opposition that viii carry eN''S .''''H
,.r,-s II Their. are enough men III h'''N''''
,,n.. rslsnI CITY Staten Island and Ne"-J"rS'v
A 49,. doing business on Manhattan Island ne
"a. Canals, 10 count.ract any enort 70 'h"hs'
~. e,istlng state 81 thngs The suid'nhess VIII"
which IN, talk about the removal 81 'n' KIN
nt,hllr and private institutions uptown ma
ami m. uersistoni manner In which 1t was io''''
,,,, the public Down 10 several months ago mas
ieI ~ the suspicion that the so-called uptown
,,,.,,.n, " nothing more than an organizer Ell
o., ~, so,n. men Interested IN uptown real estate
-rh,, The boom has completely died out ~ ht''s''d
h, the constant demand for Offices IN the h'Sh o.
nee buildings which are constantly sohs "P ''''"
cs,,l.., and the Indications just a; present are
h, ~. demand will increase rather than diminish
IN tho future.
George be Forest Barton. president ~ tn" E"ai
r.,a,. Exchange AMI Auction Room. Limited. vas
seen b. Tribune reporter yesierday ann S''
The outlook for Ncw-York city real estate i
highly encouraging The supply ~ d""h'o"" d
e-e. doc -: ,uliy meet the growing demand. Inc
concentration 81 business tn this. the greatest imam
c!al centre 81 the countr, - such That business
nrn. IN otAer cities 1nl u - their advaniag" 10
maintain Headquarters IN N"w-York ciiy. lienc"
one OF the reasons for the great demand Tor Offices
The ease In none, has been " great advanias" 10
business me- ami the cheApnes- u building ma
t.rai has uAbicI owners ~ desirable" plots 81
property 70 improve them The improvement ~ Up
Town property has kept pace with downtown. me
section on the West sid below one hun1re i-aul-
ffiy -nfth-st has been largely improved 10y bui'is
crccfing desirable elias. o, small and attractive
houses for homes. which have met Win ready sale
Tn, plateau from one hunlrr Land -ienth-si 70
one hundred and-twcnty -scconds'. west n Morn
ingsde-ave is one - The graniest and most at
;racflvc portions ~ tho city The Brooklyn Bridge.
City Hall and the concentration 81 street railways
al the city Han hNes permanent value on al
property In that ne ghborhooi don't think real
estate values too high In New-Nork city