New-York tribune., 1901-04-28
THE WEEK IN REALTY.
TREND OF HEAVY BUYING SEEMS TO
FOLLOW THE ROUTE OF THE
UNDERGROUND ROAD.

The features Of the real estate market for
time have been the stupendous movements started
for improving certain kinds of property and the
large sums of money that have been invested by
spectators For time gigantic sales in Fifth-ave.
attracted attention Then Long Acre Square
seemed TO be the centre Of the greatest operations.
again the scene shifted and the principal lines of
operation appeared 70 be in lower and upper
fHth-ave' particularly in and about The High
Iands and the old Roman Catholic Orphan Asy-
'ul SITES Later, many reports about excellent
sales IN the upper West Side were reported and it
ooheu' from these sales as IL the majority of the
operators mad suddenly wheeled about and become
ih'ereSted IN deals in that neighborhood. In the
las' week this part Of the town has probably been
more talked about than perhaps any other How
long II will probably remain the most powerful
magnet In the real estate field is difficult Ques-
tion to answer
me nue. and the cry of many real estate opera
'ors that are now occupying the most prominent
places in the realty market seems to be: Operate
alohs certain well defined lines where the prospect
OF extensive improvements in the near future is
good. The upper West Side district is said to be
one of these The Highlands in Fifth-ave is
another; the Long Acre Square portion is also in
the list And still another is the Centre-st neigh
oorhood The subway road will touch all these
places and in view of this, great expectations for
the future of the districts held Hence the big
operators are active IN such parts, and adding
10 their holdings in them. Some of the oDeratOrs
are buying TO sell at slight advance above their
PuIChdse price as soon as they can. but the ma
Jorlty intend TO hold to the title of their newly
acquireI parcels until the underground road is
oullt Ihey hgure that the valuation of their nev-
pa,ceis cannot possibly shrink. and that all signs
ihGdcdte a great increase in the valuation
-. ne principal thing that attracted attention In
ths upper West Side of the city last week was me
aucuOh sale or a lot for about s. 600 when few
ptrsonS tnought that the parcel would bring more
man Nu"L Another reason was that a plot of 3S
-ots WITHIN short distance of this pa reel wa :
@ soid ,aQ3ut the same time that the auction sale
was heId Tor a little more than 5000 lot or
SIUHrse, the conditions of these sales were vastly
uIIerenI, ana they have only few points in com
mon Ihe lot which brought about s. 900 is Within
rev steps OF the proposed site at One-hundred-
and-elE -trst-st of the station of the under
ground road. and almost in the tire Of the plot
or 80 lots. at AudubOn-ave. and kinesbridge Road
- 70 pt q station Of the subway road This part
or the city l. likely to continue 10 attract more
attention Tor months from the average investor
than any other part For it is 10 this portion OF
Ihe town t1at the merchant. the clerk and other
persons with from 5000 $4,000 or little more
money are likely 70 go, il is thought in the hope
OF investing their money. While the little in
Vestor Is buying or looking for parcels IN the dis
Vlct ne VIII frequently cross the path OF the big
operators. who are sinking thousands OF dollars
d!rnost qally IN realty there. Whether the hopes
or the future of the district viii be realized is
question which Is perpleXing many minds. But If
the su1aii investor Is 10 gain he must, according
70 some or the leading realty men buy where the
prospect or early improvements is almost GER
tainty."