New-York tribune., 1896-05-24
pEAJTY AND RAPID TRANSIT.
OPINIONS or BROKERs on TIE APFEILATE
COURTS DECISION.

OPINIONS OF BROKERS ON THE APPELLATE
COURTS DECISION.
Real estate men are conservative IN their views
and statements When they came yesterday to com
prehend the meaning of the adverse decision OF the
Appelate Division Of the Supreme Court upon The
mans Of the Rapid Transit Commissioners, they took
the general view that little no effect would be
experienced from the decision. They were all hope
full and buoyant to all appearances Sthl' even
those who were opposed to the underground railroad
expressed the opinion that at least temporary
check had been given rapid transit and therefore
development Of values in the upper part OF the
city
AS to the effect on values. Mr. sherman with
Richard V Harnett & Co.. said: II do not think the
decision will have any effect upon real estate values
It will hasten speedier solution OF the rapid transit
problem. It is extremely likely that the extension
OF the elevated system will De the solution OF the
problem for The immediate future"
Horace S Ely, Of II. 5. Ely & Co., who is not a
Broadway property-owner. said: Il think hat The
Courts decision will stifen prices in Broadway be-
low Thirty-fourth-st. The threatened cOnstruc-
ton Of the underground road was menace 10 those
properties. Now that this has been removed.
think that better prices for property VIII be oh
tained Many large houses have been driven away
from Broadway already by the Introduction Of the
cable line since drays are not allowed back up TO
the curb so that unless house through to an
other 1t is heavily Handicapped in tn. trans
action Of its business. The construction Of al under
ground road as laid ont by the Commission. would
have ruined Broadway solution of the rapid
ranst problem will yet be reached but the road or
roads must be laid out elsewhere than in Broadway
The extension Of the elevated road on the upper
West Side would give rapid transit within year for
that section OF the city,
II. II. Cammann declared that the decision was
OF great disappointment 10 real estate men.
but he declined discuss ihe subject. since he had
read the decision.
At the Office OF Douglas Robinson & Co II was
declared that the decision would improve values
upon the upper West Side. since the field would
now be left exclusively TO the Manhattan Railway
might grant TO it-subject TO its own conditions
and that this could be done within two years.
$. de Walltearss said that he thought there would
be an Improvement IN values fiis objections 10
the underground road explained mis- views, for he
ground road threatened the ere III or the ciy Sich
burden of debt. with its unknown possibilities.
whole rapid transit idea has been delayed by this
decision. But there is now chance for something
general tendency toward improvement OF values.
There has been comparatively little business trans
acted the upper end Of the island o. late by In
dividua purchasers, because OF the uncertainty OF
conditions growing out of the work OF the Rapid
any falling off in values on the upper West SIDE IN
consequence Of the decision. There are those VINO
but never have been so. l think the problem of
rapid transit will be solved In some other way
Al Inc once OF htorse is' I'edu' me oplhloi wa
expressed that there would be no immediate effect
upon values since the underground road had been
so uncertain factor in real estate matters that
1t had played no important part in the question OF
values. like view was expressed at the Office OF
GOlding WhitehOuse.
Albert NJ Arnsberg. OF l.. II. Ludlow & CO.. de-
clared that 1t would have been poor idea" for
any TO invest in property uptown upon the
prospects of an underground railroad. Mr.. Arms
berg added The construction Of the road was at
the best matter of uncertainty as to the number
OF years to be taken In its completion. 1t "A
purely problematica matter. Real estate interests
do not go ahead such uncertainties. COnse-
quently think the decision will have effect upon
to H. The accomplishment of rapid transit might
increase values In the upper part OF the city ana In
Westchester County. but Il would diminish values
in the lower part of the city When YOU consider
that concpntra ted value OF property in the lower
part Of the city. where single piece OF property
is worth more than block In the northern part
OF the city. you Will readily see how smaii per.
centage OF decrease In values In the lower part Of
New-York would more than offset large increase
In values in the upper part OF the city,