The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1900-03-24
REAL ESTATE.
A Boom Predicted for Jer-
sey City This
Spring.
PRICES ARE GOING UP
Prominent Agents Tell "The
News About the
Outlook.

Real Estate men throughout the city
speak confidently of prosperous spring
SO far as their business is concerned.
They say that houses downtown are IN
damand and rents on the Hill and the
Heights will surely advance. New bulio-
ings are going up and there is every
prospect of good business within the
next few months. 1.-THE News presents
the views of prominent men in the busl-
ness whose views will be found to inter-
est property owners particularly.
Frank j. Mathews. of the Mathews
Building, Erie and Pavonia avenue, said
"The prospect is good for large demands
for factory property in this section OF tne
city during the coming spring seVerai
parties now have plots under advlsement'
| and large sales will no doubt be consuln-
mated as soon as the weather VIII permit
! of building. Demand is good indicatlon
| of values.
| snThe convenience of both sections OF
! lower Jersey City to the freight statloHs
| of the railroads centering here IS pelhg
recognized by manufacturers ana others
whose business requires convenient snip
| ping localities. When it is consldereo llie''
| a factory located in Jersey City IS withih
+bi,tv minutes of the main offices of large
| concerns in New York, together with
cheapness of trucking for delivery IN New
| York City and the great steamship iihes
| along the North River front, 1t is sur
nrising that these facilities have not oeen
| recognized at an earlier date. A concern
recurring several lots of land can pur-
obasa the same and erect buildings at
total cost of not more than would pc rep
resented by a few years rent of a similar
| plant in New York"
| Gaddis & Co., of Newark and Oaklaho
avenues. said:-"The demand for real
estate is greater this spring than 1t mas
been for the past five years. The values
| have held their own-in some instances
have Increased. This is so particularly IN
the section between the PennsyiVanla
Railroad cut and Newark avenue Inc
outlook is very encouraging. The auto
mobile company recently started up WORKS
at the watch factory building at Marion
1. A large stove factory, 200x4O0, is soon 10
/ be erected in the vicinity of ST. Paui
avenue and Dey or Howell streets, IN the
West End. The factory building that was
/ formerly occupied by the American
| Enamel Company at James avenue ana
Howell street. has been rented to-seme
/ New York concern. Six lots on West Side
avenue, between Sip and Pavonia avenues
have practically been sold to a party VINO
will erect houses on each.
Mr.. John P. Landrine, of the firm Oh
Landrine & Prior, was asked how the real
estate market of today compared with
| the market of last year. "The price OF
/ houses and lots he said, has risen
about forty per cent. This was caused by
| the decided and somewhat unexpected
| rise in the price of building materials. But
| as good as the market is at present, we
expect far better prices in the fall L
/ should advise prospective investors to
purchase this spring for the prices VIII
have advanced fully ten per cent. over the
| present prices this fall
"On the whole real estate dealers should
| have no cause to complain. People, II
seems. appear to be in a position these
davs to pay more rent than ever before
/ r suppose this is due to the general good
/ times and good wages. People are NOV
| ing to this city in numbers larger than
we had ever hoped to see Conse'
ouently the rents of houses have been ad-
yanced somewhat in some sections. Inc
Johnstown section has built up wonder
! fully within the past year or So Hun
! dreds of houses have been erected and
the result is that the owners can get
! good prices for them. But the boom IN
| business will come this fall. We hope to
get At least ten per cent. more than at
j present, and even now the prices are
good
4 Mr.. William v. Garrison, prominent
real estate dealer of the Bergen section,
stated that the market is far better than
it has been for years.
ssPrices," he said "are very good ana
dealers should not complain OF tnelr
j business." He also alluded to the bright
prospects of the fall, stating that houses
now worth 900 would sell in the fall Tor
from 81 200 to $500. The Bergen sect1on'
i he said. was far more desirable for dwell
| ings than it has been for years, ana that
/ there promised to be big demand Tor
houses on the Heights this spring ana
summer.
q. Howard Slater, of Lafayette, was en-
thusfastic over the bright outlook he
spoke of the Lafayette section IN par
ticular. Lafayette" said he, has not
! advanced much in the building line OF late,
but L expect boom in the spring There
has been no decrease in the prices OF
property and houses and lots are worth
more now than they have been for two
wears. An Increase in the market price is
anticipated and it may come before next
i fall
Henry c. Steffens, another Lafayette
real estate agent, alluded to the prices of
lots and houses in this city as being good.
While the prices of building material69 pad
Increased. the prices of houses had in
creased and it was much cheaper to pur-
Y chase a ready built house than to erect
4 one Houses and lots can be purchased
/ ten per cent. cheaper than they can be
4 built at present @Some men are anxious
to sell and will sell for few hundred
dollars less than it costs to build
The firm of Wells & Maxon, at the
Junction. one of the largest real estate
/ firms in the city, has been doing good
business in real estate of late. Mr. Wells
said as the others before him stated. that
the market is in good shape with excellent
i prospects of booms.
Louis Steinberger, of the firm of Stein
berger & Hoos, said:-'The demand for
real estate is certainly greater than it was
last year in the section between the reser-
4 voir and Lafayette. AS to values we
are getting no fancy figures, but proper
4 ties are getting fair values. In all sec
tions Of the city there seems to be an