New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-16
REAL ESTATE.
DEVELOPMENT OF PROPERTY IN THE
SUBURBS.
CHARLES HENRY BUTLER TALKS OF RESIDENCE
PORTIONS WITHIN EASY REACH OF THE

CHARLES HENRY BUTLER TALKS OF RESIDENCE
PORTIONS WITHIN EASY REACH OF THE
BUSINESS SECTION OF THE CITY
Tho .er,cs OF Interviews with well-known operators
.,d dealers in New-York real estate together win
their opinions regarding the genera. out'oo"' "
supple,nented to-day by instructive eNpressiO" Va
views BY Charles Henry Butler. real estate ""s go
whose Offices are at No III Broadway ana NO l4'-
broadway Mr. Butter Is especially famiiar WIN
,soI estate beyond the Harlem River as far norm
IN wcstchester County Mount Vernon. on '"e
New-York ard New-3aven and the New. jim 60
Harlem roads, and Yonkers on 'ne ~. -,
Central and Hudson River Roao.
years he has been closely ideh'ineu WIN Wv
estate Mr.. Butler says - ,,.. ,o-
..1,na hus,,ess heart Of New-York City having TOT
many years been below Chambers-st 10 a s'e". -
tent prevented the growth OF suburban g., nso-
,,sra,,v afford the most comfortable honneS " -,
ME OF moderate means but no" NO ,,n ,ho
r.ss centre is rapidly growing to conform VIII" VI.
ness -, oon,ro there Is a marked Improvement
O. h ,owrs and cities as are located Immediately
north Of New-York. especially those Una. o y,
,he north limits Of the great parks "h'' "' ~
,ora breathing spaces and pleasure grouh"s ~, 49,,
inhabitants Of those towns. as Wen a' " w.
,rh,s &c notably the case in Mount Vernon anu io'
-, 10 sou.hern boundaries OF botn OF WHICH
,,h tho northern boundaries OF New-iorh
City. ,.o. averaging
IN value from s., 30 to $500. have peeh eie 81,
,he lines Of the Harlem and Nor'"ei" =, A..
men whose business is in the upper pa x,n,
H.. on, r,bo can readily reach their oinces Ho''
.nesa nlaces in less time than II taxes d '' ' ~
% roach Wall Street For years tne e.'S s
rseari 20 A suburban location was ffoM 'oe -
I, lake 70 reach Wall STREET. but now ~, ,.,,.
more frequently asked IS f'o" e
10 reach Twenty-th.ri-st| ,roral,v
for men of moderate means VINO oes o,orv
their homes rather than pay rent Oh" a
nan OF ample means VINO van :, ,,o CITY
house in any of the residential portions Oh "e Wy
for from s25 900 TO $4,000 there are ooo VINO Gan o.
go % purchase a suburban home OF the Naiue y.
from, g 900 TO $4,000. II is TO this large cass
thrifty investors that such cities as ioiAe
Nount Vernon must look for their deVeiopiiiei'' ~
there is no question that in the next rev Eea's
large portion OF available properties III 'iese ~
nil ha taken ND and improved in this manner
80, the line OF the New-York and Putnam hai-
road between Van Cortlandt farK anu -
SQUARE Yonkers. there are three statohS-i
IiU Lowcrre and Caryl-in distance Oh less "
two miles all of which furnish many commuters
for the daily business of that road. AL farh M"
,ba American Investment Union has developed
tract of about hundred acres at an expense oi
$4,000 and by means OF restricting the saie en-
cusive.y to home builders they have maze '"e"
property the most attractive on the line OF the
road and what was few years ago bare hiiisioe Is
now the site Of nearly forty villas. ranging IN price
from $500 to sooo0o At Lowerre there has been d
different class of Improvements. but over eigh'y
houses have been erected in the last three years
and large number are now in course OF conslruc-
ton by the Lowerrc Improvement Company, f.. 3
Tweedy j. g. Sullivan and others. This property
has been developed in an entirely diferent manner
from the Park Hill property. for here SPECTATORS
got an opportunity. and many OF the largest real
estate investors In New-York City. including such
Fair
others equally we'll known have large holdings IN
this vicinity
"At Caryl Hugh Stevenson has developed large
tract OF land by laying out streets and building
houses and he made especially clever strike when
demned for Van Cortlandt Park and moved them TO
wellocated sites In the neghborhood Of Caryl sta
ton selling nearly ali Of them at handsome
profit. ,, u,o 81 tho xor,ner, Railroad onens
large section of Yonkers, including what was known
the THOUSAND Acre Tract Ira once owned Ha by
interest in which was lately ACQUIRED by James G.
Truman Of the Imperial Hotel wsD SO aSS, My
miles above This purchase by Mr. Truman is pn,
a short time. be subdvided and a most desirable
section Of the city Of Yonkers will be offered to
houses, ranging in value from $500 to 5000 have
f that Jefferson af NJ Levy and his associates have
ss the D Smith s soe n s W b h ne
OF the Harlem Railroad there several large
tracts or lana WITHIN immediate access OF the
stations. such Glen Washington and the De Witt
properties. which VII undoubtediy shortly come s}I,
Railroad number of parks have been started,
which are being developed by laying streets and
building houses ranging in value from $500 TO 5000
Among these enterprises are Richmond Park. Lin
coin Park. Armour villa Park, which IS one of the
oldest and best developed having forty houses
Cecil Park and Sunnysde Park Lots in this sec
ton OF the city range in value from $3.50 10 $50.
and they sold easy and in many
building loans offered purchasers who
desire to erect their houses. persons Of moderate
enabled to acquire their homes by pay
ments on the instameDt plan. which is the most
natural and satisfactory manner for man de-
pendent either upon salary or moderate income.
There is another class Of property in Yonkers
which has lately come into the market for investors,
and which has excited good deal OF attention and
that Is the property situated in the heart of the
city used for business purposes With it's popula-
ton of over forty thousand. Yonkers has built up
large mercantile business. and the property around
Getty Square has not only become very valuable,
but is fast increasing and yielding handsome
proht. The property on Getty Square and Warbur-
ton-ave.. in the neighborhood of Manor Hall, which
Is the heart Of the city. Is worth from $4,000 70
$4,000 city lot, according 10 location. and yields
handsome profit on the value Of the property and
improvements, and latey number Of large stores
have been erected, which have been leased al good
prices before completion"