New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-15
THE WEEK IN REALITY.
ETodus of Je1cs to Upper East SIDE
and It's Causes.


deals affecting teneElen mt and hathOuscs north OF
Fifty-ninth-st. Demands for such properties are
part of Of the most interesting real estate
movements within the memory Of many persons
who have Identified with real estate for years.
There is seemingly no such thing unfavOrable
realty conditions in the face Of such movement
1t is enchanting and hypnotzins whiri OF activ-
ity In a district which has long been In need OK
thing stimulating to awaken people to its ad-
vantages a place for a home especially for peO-
pie of small
To scores of persons who have waited long. al
most seemingly without hope. for this movement,
how well repaid for their patience they must be!
Nor is the round OF pleasure resulting from the
movement to be small There thousands Of
persons. who yet do not dream OF sharing in the
joy of the occasion. who will benefit by the move
ment Some Of them may eventually become own
ers Of property in the district and others will
make their homes In the section
The natural inference to be drawn from move
ment of this kind would be that the East Side
ton bounded by Eighth-st.. the Bowery, the
Brooklyn Bridge and the East River. would suffer
n decline I'm real estate values. This Is a question
for the best judges Of real estate answer. They
have spoken and they. and all. say that the
movement will result in a realty setback the
lower Side. there is other place like II
In this great cosmopolitan city which strongly
attracts within its limits the Hebrew immigrant as
he foot in this country from one of the Ellis
Island ferryboats
HEBREWS FIGURE IN DEALS.
The principal figure for years in lower East Side
deals has been the Hebrew race. The same race
is and is likely be the predominant factor in
the purchases of tenement and fiat houses on the
East Side north of Fifty-ninth-st. A brief outline
of the movement and Of its causes were
printed in The Tribune Of last Sunday. Some
other interesting causes Of the movement have
been revealed by Study Of the extent Of the
movement in the last week
1t is a self-evident truth that the speculative
is off char arfcf of fhn
No records regarding this kept. and 1t
is impossible to say how many Hebrew men and
women fall victims to It, BY speculative fever Is
not meant a mania for striving to make money at
games of chance such card playing. policy,
horse racing. ETC. but an almost uncomfortable
yearning to invest In some legitimate business or
enterprise with sum Of money which many
persons Of American parentage would think 100
little for the purposeS Whsreyer there IS a
GUNNER OF winning chance win Dahe FoIt ,.s
with a few hundred dollars or more will be found
cess That has been one Of the principal causes
Of their success here And step by step; some e;
TINS country almost as poor as the Provero toi
places in the realty market
Most Of these Hebrews. when they set foot in
lower East Side. where they found scores Of per
mode Of living was similar to theirs 1t was not
long before they could speak broken English. and
into districts where most persons were Americans
and spoke no other tongue except English; Later
pany of Americans as when with their own coun-
try men and women.
EVOLUTION OF IMMIGRANT.
The story of these men adjusting themselves to
conditions and places is simila. 70 that Of nearly
every Hebrew who once recorded fmmi-
grant at Ellis Island 1t difficult Hebrew
immigrant to forget the section Of the city where
he found himself and mis- family welcome on
arriving here As years passed his affection for
the sectiOn-the lower East Sde-grew greater. II
was and is
every week in many ways. Financial success
caused many Hebrews to take homes uptown but
vast thrOngs Of Hebrews who are now called
wealthy. and who TO this country as imuli-
grants have up to the present time stood proof
against all temptations to become Identified IN any
way with any other section Of the city than the
lower East Side. Suddenly these Hebrews have
changed about face and they have decided not
only to become owners Of tenement and fat houses
In the section tile East Side forth of Fifty
ninth-st.. but also hereafter make their homes
in that section. Is not this. indeed interesting
spectacle in realty affairs. and important real
estate movement in the history Of this city?
To return more to a study Of the
for this great change. Few persons Of other na-
tionalities excel the Hebrew a real estate
broker. builder. operator or investor He will sell
dom be caught the wrong side OF the market.
or in other words. the weak side. He will not
likely be found leading unless he is almost posi-
tive of his stand. He is leading in the present
movement purchase hathOuses and tenement
houses north Of F1fty-ninth-st-. east of Central
Park Why he is may De explained by assertion
made yesterday by a well known Hebrew real es-
tate broker;
The price of rentals i'll the lower East Side has
reached that point where it is much greater than
districts on the East Side Forth Of Fifty-ninth-st
Vast numbers of Hebrews in the lower East Side
spite the strong ties which have Kept them below
Fifty-ninth-st. for so many years; made up their
minds 10 nOrthward. Their demands for
homes in the 1aJhCuSes the East Side north
OF IT, G f s 8[en R bose aihdse
The English speaking Hebrews will be as much at
in the lower East Side. The purchasing movement
in which Hebrews are most prominent Is result
of this demand. When the time that the
rental of a four fiat in the lower East Side
equaHed a nat o. SIX rooms norm OF FIty-
East Side was at hand And that is the cause OF
REALTY VALUES ALSO INCREASED.
Granted that rentals In the lower East Side have
| increased then real estate values there should
| have increased and whether not this is true
| should be revealed by realty records. Some idea
| OF this increase may be tad by study Of the
records relating to the premises No, IS Essex-st
| February 1890 title II transferred by Bale
F. and Bernard buchenhoz a., 10 LOUIS se IOr IN
ter Solomon Finbur acquired title to the premises
for IN 3 3 o1ga Kanfod bought the property
for $41 zoe. These records show that the price paid
the purchase price in 1880 or course the value Of
many parcels in the lower East Side has decreased
in years. but the greater number OF values
| have increased.
THE OPINION OF a REALTY PAPER
'.rhe Real Estate Record and Guide" in its last
issue says in part in regard to the real estate
situation:
No one can analyze the list of realty transactions
conclusion that there is not the slightest for
amount OF business is being transacted which runs
far ahead OF last year and w1ch Is without parallel