New-York tribune., 1904-10-28
EFFECT ON REAL ESTATE.
Brokers Tell of Value to Hitherto
Remote Sections.

In speaking about the probable effect the
subway would have on real estate. John N
Golding. real estate broker. said:
1t means the beginning of an era in real estate
IN greater New York unprecedented in the his
tory or the city To the section OF the city
known as the business portion. and especially
to the financial district to-day means much II
will enable a certain class Of people who for
years have been making tfeir headquarters in
and about Forty-secOnd-st- TO go to their bank
ers' or brokers' offices in six or seven miEutes
where 1t now takes half hour, Men win come
downtown more readily and with greater com
fort than heretofore.
To the west side Of the city which twenty
years ago was. as is the upper portion of New
II will bring from the surrounding outlying dis
tricts people who prefer to live in this section
on account Of their ability to get homes within
their means.
II means to property north OF hundred
and-tw -hfth-St., to the Washington Heights
section and the Dyckman tract. from Two-hun-
dred- nd-third-st to Kingsbridge what the eIe-
waited railroad meant to Forty-second-st- twenty
years ago
To the section commonly known as The
Bronx it will he almost impossible for one. no
matter how visionary. clearly to define it's ben
eft. We have witnessed in the last few weeks
the operation OF some of the shrewdest real es-
tate experts in the section known the Wash
tngtOn Heights and Dyckman tracts and The
Bronx and the purchasing Of vacant lots un-
equalled in our history. Hundreds and hundreds
Of lots have been bought and resOld north and
south of the Harlem River Westchester village
In operation. was we might say. One hun
dFed-and- twenty -ffth-st ten years ago.
The development of Washington Heights and
The Bronx needed only this inspiration. II
has been a common expression among men ia
miliar with realty that II was almost impossible
for person of moderate means and those peO-
pie whose means permit them to occupy apart
ments ranging from $25 70 $40 month to find
in any convenient location proper home.
We have heard OF flats heing built IN The
Bronx and being Immediately taken up We
have in front Of unlimited area
where the great. increasing population Of greater
New-YOrk can be well taken care of.
Hanging in my office is old print of The
New-York Mirror" with cut OF New-YO-k
from Bellows Island dated April II. 1881 and
the ending paragraph reads as follows:
Two hundred years hence. Prophecy, We
cannot bear TO listen to thee. We only dare to
hope that we may live to see the year 1000 and
be worth principal and interest"
Herbert A Sherman. another real estate
broker, said:
The effect OF the subway the districts it has
made available for building purposes will be similar
north OF Fifty-ninth-st- where practically a new
city has sprung up. 1t cannot fail to result in a
great increase in values and consequent increase
In revenue to the city. 1T will also give people
detached houses.
IF the subway management should be capable OF
so that passengers will have comfortable ride In
stead Of hanging to straps. II will serve Its own
interests and those of the public II an immediate
return ia considered more important than the vel
fare the road and Of the people In the long
then of course. II will fail give all the benefit
which might otherwise be received from It.
called upon to struggle with the problem OF the
subway crush.