The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-13
REAL ESTATE NEWS.

former years, and the results have been such
Ms to repay their owners for the extra care ana
attention given to tho selection OF the sites and
the subsequent improvements leading to their
bettcrmcnt.
Asurvey Of the more i'm portant OF the proper
ties brings out the causes Of their success. In
the first place. the promotion OF the sites
which have made the best return on the money
invested has been In nearly every instance
undertaken by companies or syndicates which
were fully able financially to carry their plans
TO completion. This financial solidity 10 an
absolutely essential factor. since the
expenses OF placing the properties on
the market are extraordinarily heavy. In
Guiding as thsy do. the cost OF ex-
tensivo advertising. street opening. sew
ering. surv eying. and various other primary
improvem ents and until all this 10 done there
10 no return in money to the promoters. Even
after the completion OF these first improve
ments the sales OF lots and houses are for some
time slow, and 1t 10 usually several months
nftsr the opening OF the property before any
distinct gain can be found on the credit side OF
the promoting company's books. The reasons
for the failure OF so many similar enterprises
are to be found in this financial inability to
meet the heavy expenses OF tho first few
months.
The second important factor In tho success
OF suburban sites Ia In the selection OF the
property The first essential Ia that II be
reasonably accessible 1T the present time.
with prospects OF further Transportation facili-
ties in the near future In order to obtain this
result tho greatest care Ia necessary on the
part OF the promoters. A site too near the
hcart OF the city would impose higher prices on
the property than the class to whom the
suburban site appeals could afford to nay.
and on the other hand. II the dis
lance be to great the inability to reach the
city within reasonable length OF time would
act as an equal prohibition to the same class.
The men engineering the most successful OF
the properties at this time have evidently
taken these facts into consideration rs the
popularity OF the sites selected attest. IL Is
equally essential that the site be fully able to
meet the sanitary demands OF the present day
Aalarial and mosquito infested marshes no
longer do rs suburban home sites The loca-
ton must be high enough to facilitate drain
age and to insure good air and light.
1t Ia a natural transition to the third aualIh-
cation OF tho model suburban site. This con-
sists OF the nature and extent OF the improve
ments to the property selected. These i'm
provements include the arrangement OF the
streets running through the property. the
paving. sewer!ng and curbinG OF thcm. the in
ter OF the houses to DO built and the restric-
tons obtaining in the building Of these houses
and the terms offered to prospective purchas-
ers. The tutilty OF trying to sell building plots
or lots In suburban sites utterly wanting
In water. sewerage and gas improvements
has been shown by the disasters which have
overtaken such sites when explanations OF the
unimproved condition OF the property have not
accompanied the prospectus sent 20 possible
buyers. Even when this condition has been
krown the enterprises have met with poor
success. as was shown in the Broadway sales
room some time ago when an attempt was
made 10 sell such lots and plots under upset
prices that we're practically p-ohibitve. The
character ot the hou yes. az regards both sites
Already improved and those which are sold
with the idea OF leaving to tho buyer OF the
plot the right TO erect hs own house. has
much 70 do with the success Of the entire
The houses were already built was to erect
long rows OF houses possessing absolute
uniformity. even to the color Of the paint and
dominoes. the backs only being Visible. 1t 10
not .ceabe that this primitive method Of i'm
houses are constructed after no set model. but
diNer widely in architecture and inside ar
buyer. whore formerly there wa, no choice at
all. The tendency IN the matter Of restrie.
,i0S. e eI &c H9yhns that might
In particular is abolished In tn. present scheme
OF sururtan sites. The terms are brought to
the harry medium Tor the most part 60 thu,
there IL n" excluding OF the class o. people
whom the suLur'nn home is Intended To At
ness recommend.d 10y the promoters: the
idea being to attract tbs people OF average
means who prefer an individua! home In the
suburbs to apartment house lito in the city
All these con iitons have sntersd into the de-
velopment ~ tn. more prominent OF the sea-
Tho asst tut by no means the least elemsn.
entering into the success o. the suburban site
Is tie general co1ds,on Of bus!psss Of every
while dIsttnc'iy, apart from the internal condi.
tions OF suburban promotion. il one Of tho
The marked prosperity OF all classes Of bust:
ness during the past year ha. been decided
help TO these companies. and their officials are
These. then. are the causes for the success OF
the companies formed to promote suburban
self that they do succeed. as Il means an in
creased territory given over 10 occupation: the
the rnai abolition 81 the overcrowded condi.
ton OF the districts IN the lower East SIDE OF
the city proyer. which in time will be devoted
increased taxable realty that Wil assist In lift
Ing the heavy rates from the property ownersof
The notable distances oil. success in suburban
site promotion are found n Prop.rties we'll
are numerous such sites in Brooklyn borough.
Including borough k.Prospect Park South.
Fort Hamilton AMI The many sites south .!
>
It's quota to tho entire mum Der. as statistics
prove. Aney section was opened up late in
the summer. but II has been go successful that
II deserves TO rank with its older rivals. 1t Is
tho long stretch OF high ground overlooking
the, Hudson along the Jersey side. north OF
Hoboken.
There are several proper ties thera which
have been well received and for the same
reasons which led to the success granted
various other sections OF the greater city The
latest addition to the sites along tho Hudson
was Grantwood. n property directly opposite
Grants Tomb, which has been among the
most successful, IN the further expansion OF
New York city the land along tho Palisades
from Stevens Point to Fort Lee and above IL
Is destined to be benehte and the acumen OF
present purchasers OF sites there will lead to
enviable results.
The season with the suburban companies In
general has been satisfactory and as has been
seen tho reasons are logical.
The following are the comparative tables for
Manhattan and The Bronx OF the convsyances
mortgages and projected buildings for tho cor
responding weeks Of 1880 and 1893 as COM
piled by the Record and Guide:
CoEvEYASCEs,
1892
kor. 8
10 . inc.
Total number for Manhattan, ......... l49
Amount involved Observation-Disclosures. SI2y3ST7
m nominal ~