The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-02-16

iss7. $40 is4S. ...........,.i,p e0
isS ''.".''''"".'''. ~ is.g" """""'"'"is
1870. ................ $50 lss .""...."...i.lll
isti.."."."".... si is@..."."."....i,es
'It IL to be regretted that this table cannot
be brought down TO our own time. as Il would
give at a glance an evidence Of the prosperity
OF the times. but our Albany legislators.
who are necessarily tlnkertng at our mu-
nicipal re equations. In 1880 abrosatsd the
rule which compelled the City Inspector
to keep a record Of the new buildings.
-The above statistics show In a marked
manner the influence the state OF the money
market has upon the building operations
In this city. In 1880. when the real estate
speculation fever ragged. 1870 houses wers
erected. which fell on to $40 houses for the
following year. while the panic ragged. In
1889 only GA new houses were built, but sincs
that time the increase has been steady. We're
We able to publish statements for the last
eight years. II would doubtless show that
1850 houses have gone up every year; houses,
too, that involved a much larger expenditure
than those erected fifteen and twenty years.
since. AZ that time a good substantial brick
house. costing 10000. was considered good
enough TO transact business in. while . rent
Of q, 900 for q store was considered a very
high price. and prudent people shook their
heads at the eItravagance or the parties who
paid II.
but few year, has worked q great change
In this respect; a brick house is now con-
sidered UNIT for any but small retail trsfiok-
era. and rents OF from IS. 900 10 Oil. 900 per year
are not The erection OF splendid
bro wnstone stores was commenced about
fifteen years since: but more recently massive
iron or beautiful white marble buildings
have been all the rage. until the city below
Chambers street is q wilderness OF elegant
and costly stores.
srk- .axl .a->-,apt ~ hpeipAaa tovard
the centre Of the island has already depre-
ciated the value OF property in the First
ward, and It Is not only possible. but newt
able, that real estate In the lower point Of
Manhattan Island will yet be quoted very
low compared with the prices obtained for
property in the centre OF business trafhc.
IL has been noted that sales OF property in
Broadway below Wall street have brought
lower prices than were obtained for II five
years since. All that portion OF downtown
lying between Maiden Lane and the Battery.
on the East Side. has been affected injurtously
by the movement OF business toward the
West side and further uptown.
1T Ia uptown. above Bleecker.' that wa
see the marvellous enhancement In the price
OF city property. In 1888 lots sold In Union
SQUARE for 81 900; they now are worth II 5000:
ground on Madison Square which was with
difficulty sold in 1886 for 500. is now selling
at 10000 and sl?, 1000. But the greatest
enhancement has been in Fifth avenue prop
erty, which has run ahead at an incredible
pace. and distances anything OF the kind on
record. In is4s Mr.. Isaac Lawrence bought
several lots at the corner OF Fifth avenue
and Thirty-fourth street for from $500 20
$3.50 each. The same property now sells
readily for 81, 900 and $4,000 per lot 4
few DAYS since the Maldeberger estate In Fifth
avenue. between 1wsnty-second and twenty
third streets. was sold, and brought $4,000
per lot OF 25xi0o feet. Between Fortieth
and Sl1tleth streets. lots In Fifth avenue
are worth from -, 900 20 80. 600: while opposite
the Central Park they range from 5000 TO
5000 per lot, and are destined at no distant
dav. provided the Central Park IL properly
laid out. TO sell as high as any property now
In the upper wards that Ia devoted 70 private
residences.
q Madison avenue lots sell for one-third
less than on FIFTH avenue.
THE accumulation OF population In ths
upper end OF the island will necessarily In
duce a large retail traffic in some one OF the
avenues one IL Is as yet impossible
70 determine. The Eighth avenue has al
ready a large number OF stores. and sul
doubtless always a fair share OF
the business OF the West Side. The same
fact Is true OF the Third avenue on the East
Side. but II IL evident that some one OF tbs
more central avenues will be the great artery
through when the currents OF uhuIo va"
now,
-The Fourth avenue IL elieibly situated
for absorbing the heavy retail trade OF up-
town. hut unfortunately for property holders
the dapots OF the Harlem and New Haven
Railroad companies being situated IN thhI
avenue, and the'steam cars above thirty
first street, will prevent any such consum-
nation. This avenue will be noted for It's
fine churches. but 1t is questionable whether
Il will ever be much OF q business thorough
fare.
by some II II supposed that brosdWay
will hold its own TO It's termination. ana CON
tinuo up,own what IL il now for the lower
part OF the city: and this may be -, as retsh
trade has a tendency TO run In continuous
channels. But there are those VINO believe
that Fifth ~avenue-that holy OF HOLES 70
the fashionable world-wtl IN some iutu's
day be resonant with the clangor OF ualh''
and that It's princely palaces VIII be cor
yerted into busy stores The avenue
about the centre OF the Island, ana ateauF
has one hotel-the Brcvoort and nj is juno
ton with Broadway one Of the mo'' mAshln-
cent hotels in the world i in process Of ereo-
,ion for Amos n Emo. Mr. Emo also ptu-
noses TO build a fine restaurant on the gore
io, nj the corner OF Fifth avenue and Broad
way Another fact is noticed. Lot on fiI'n
avenue below Twenty-third street are lar
less saleable now than they were Nv" year.
since, and will not bring within 5000 OF INC
same price they did then Fashionapla
people are Rowling up the avenue ava
very soon the lots fronting Central fatH
will be- all the rage. A. soon a. Iots p'io"
Twenty-third street become unstable ior
private residences, Il is more than hke'F
that storekeepers may operatIoh'
and let a few large storee I've erected 10 'he