The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1904-11-29

placed by Colonel Edwin Stevens upon
the undisputed most valuable water
front lands in Hudson County. the lands
of the North German Lloyd and Ham
burg-American Steamship Companies at
Hoboken, viz.:-$1.10 per square foot
for the bare land bulkheaded; this valu-
alton covering all area from the exterior
pier line to Hudson street, which, as
you will see by the map, is about the
same distance back of the pier line as
River street, the west line of the lands
appraised by Colonel Stevens. and we
get a value for shore front of 81 ,4SS 600.
Adding this value to the upland, ST.
2,600, makes the very highest market
value of this plot, considered under the
most favorable conditions, By vacant
single lots, each lot appraised separately,
and with all the advantages given it by
surrounding improvements, $2,9S0. 600,
or 522,S00 per acre.
For comparison, deductions should be
made for the street and sewer improve
ments on the plot, at a low figure, $4,000
per acre, leaving $4S, 800 as net value,
which is only. $500 per acre more than
the value for taxation, placed by the
State Board upon the Harsimus yard.
Is there any doubt in your minds
which parcel is the most valuable and
most salable for all purposes-this
solid upland in the heart of the city,
or the filed mud flats of the Cove?
We do not admit that the water front
at this point or at Harsimus Cove is at
all equal in value to the Hoboken front;
in fact. the State Board of Taxation
have declared it is not
AS a conservative estimate. it is prob
ably not worth more than so per cent. of
the Hoboken property, which is the most
| valuable front on the Jersey side Of the
river.
At this rate, the value of the 81 acres
would be 1853, 600 as against S2,337,-
600 the assessed value Of the Harsimus
Yard, or at a rate of $4,000 per acre,
against $41 900 per acre in the yard.
Now let us compare the most northerly
yard on this front, that Of the Lacka-
wanna Railroad, with the adjoining local
ly assessed and used water front of Ho-
boken.
The Laekawanna Yard has an area in
Jersey City Of S9s, ,149, acres, and in Ho-
boken Of 24.3s6 acres.-total 122, 2,535
acres This is exclusive of main stem,
and it has width on solid filing line
of 2,200 feet, exclusive Of the 100 feet of
main stem. It's average depth is about
2,70O feet. It is valued for taxation, as
bare land, by the State Board at $5,023,
! 935, or at the rate of Sal, 600 per acre,
calculated to the line for solid filling.
| The city Of Hoboken, exclusive of the
lands of railroad companies, assessed by
the State Board, has an area Of 7S1
acres.
/ The total assessed value including inn
provements for 1908, was S3o,617, 800 OF
at the rate Of $39, 900 per acre.
This total value was reduced by the
State Board of Taxation, on the appeal
of the North German Lloyd, 5000. 900, OF
/ 81, 200 per acre, or $37. 500 per. acre.
i This value covers ferries. steamships
wharves, all buildings, and other improve
ments This city is the most densely
populated municipality in the State, and
has the highest average assessed value
i per acre, and the greatest number Of
/ dwellings per acre 1t has one and one
quarter q miles of water front; about
/ one-third Q-3) of the area is good firm
land requiring no filing. The Lackawan-
ma yard is all filed land, and every build
ing erected requires piled foundations
vets its assessed value as bare land is
over $1,000 per acre greater than The
average of the locally assessed real estate
of Hoboken as improved.
/ A section Of the city locally assessed
has been selected as shown upon th'
map, adjoining the Laekawanna yard tt
the north. for comparison, in the SAM
way as the comparison was made witt
the Harsimus yard in Jersey City.
i This section extends from the railroat
terminal north to Fourth street, ant
from the river west to Grand street. |
i has about the same frontage and dept
as the Lackawanna yard, and contain
1913 acres, as against 122.535 acres i
the yard. 1t is the heart of the bushes
section Of Hoboken solidly built up. an,
includes in its area all the bank build
ings, larger stores, several large hotels
the principal ferry, the Hamburg
American and North German-Lloy,