New-York tribune., 1900-01-19
REAL ESTA TIE 1LEN JUBILAN7.
THEY PREDICT SPLENDID RESULTS FROM
THE RAPID TRANSIT ROAD

Considerable satisfaction is expressed among
real estate at the letting of the contract for
the underground rapid transit road. The question
Of adequate railway facilities is important in its
bearings real estate interests that any enter
prise in that direction is reasonably to be
subject Of intense interest TO those who make the
study OF real estate their chief business The fact
that values have been low in certain sections that
ought by every reason to interest investors is
directly traceable 10 the lack of transit facilities
IT only natural therefore, that real estate
men should have been among the first to point out
the necessity for some general Improvement in
transit facilities. They have never ceased to de-
plore the delays incidental 10 a final determining
of the best means TO carry through the project
That rapid transit has at last reached point
where IT is at least in position of legal form and
substance is cause for congratulation among
brokers In judging of the probable effects of the
building Of the road realty interests is pos
sible to fall back upon previous experience as a
guide and the subject is not necessarily as
theoretical and problematical it might at first
seem The transformation of the West Side after
the building of the elevated railroad may be taken
10 indicate in part, what may be expected a re-
suit of real rapid It is as yet too early TO
say TO what extent values will be increased by the
building of the road, but there is no reason to
doubt that such sections The Bronx Cathedral
Heights Washington Heights and Kingsbrdge will
benefit immensely A impetus will be given to
building real estate broker. in speaking of the
subject yesterday, said:
The constant flow Of people TO the JERSEY suburbs
mas been an exasperating thing to real estate men
IN THIS city Tor a long time We were able to offer
property in as beautiful and heaithfuI location
as could be found anywhere, but men who are
dependent on New-York for a living continue to go
without our borders to rent buy homes that we
could have duplicated or eXceed for the same or
less money. The reason was simple enough While
we were discussing the feasibility Of rapid transit
the railroads out of Jersey City and Hoboken were
making all kinds Of efforts to induce travel on
their lines. The Jersey suburban section was
naturally benefited and large part of its popula-
ton draws income from Manhattan. We don't
look for all these people to go up to The Bronx
or Washington Heights, but the construction of
& real rapid transit road will at least give us a
chance 10 refute in a measure the old bugbear of
mo transit
In speaking for the Rapid Transit Committee of
the Real Estate Exchange Richard V. Harnett
said:
The Real Estate Exchange has all along ad-
ing rapid transit to this city. We have been
working for IL for eighteen years Controller
coler has the right ideas about II, and the Real
Estate Exchange is ready hold up his hands
no matter how far he may go. The day Is not
far distant when there will be tunnels under the
East River, and Staten Island, too will soon be
more nearly a part OF this city than IL is now
The benent TO real estate from this new tunnel
viii be incalculable- Property along the line of
the tunnel viii increase at least 10 per cent, and
further up, where prices low the increase will
be az least 25 per cent. II will create an era of
building prosperity such as New-York has never