The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-07-01
THE BOROUGH OF RICHMOND,
MUNICIPAL FERRY CAUSES A
NOON IN REAL ESTATE.

Speculative Builders and operators in
Lots Invade staten Island wood.
Harmon & Co. said TO Have B0ught
Up One-eighth or the vacant Acreage.
The municipal ferry has brought about d
complete change in the real estate situation
in Richmond Borough. Staten Island hasfor
years enjoyed a steady but slow advance,
chiefly as a manufacturing centre. It's
: progress was for the most part due to the
growth Of local industries. A majority of
, the new residents attracted to the borough
were mechanics and operatives, who found
employment there. The municipal ferry,
however, has made Staten Island available
as a place of residence to the great army Of
wage earners employed in the skyscraping
office and mercantile buildings OF lower
Manhattan. The former limited though
steady demand for dwelling houses and
factory sites has consequently developed
into a real estate boom extending through
out the entire borough, for improved trans
portation is bringing new trade as well as
more commuters.
The figures OF the Building Department
show a notable increase in construction
work. In 1898, the year Of consolidation,
the total amount expended in Richmond for
buildings was 1928 1888: The amount ex-
pended in 1905 was 81 ,4SO, ITO. or almost three
times as much. The gain over 1904 was
$70s, PES. In 1905 about $50 new buildings
we're erected, &C -shsah ses Ee-s dwellings
and the rest factories and business places.
The houses now being erected are as a rule
built Of concrete blocks, the manufacture Of
which is one Of the latest industries on the
Island.
In spite Of the increased building activity
however, the supply OF houses renting at
$40 to $50 a month la far below the demand.
For the first time in it's history speculative
builders are beginning to operate extern
sively in the borough. At West New Brigh-
ton,Livingston, Port Richmond and Wester-
leigh many new houses are being erected
Property at West New Brighton which two
&. years ago could not find buyers at $500 lot
is now selling for 81 900. Westerleigh is
rapidly building up. Port Richmond is the
only village of Staten Island which has been
experiencing realty activity for several
years, and property there is held at high
figures. At Stapleton, on the east shore,
there are no vacant houses to be had. The
same may be said Of every village in this
section.
At Concord within a year there has been
built up a residential section for persons
of wealth. This new residential place is
known as Emerson Hill. 80 called because
it was formerly the homr Of Ralph Waldo
Emerson. The property Is owned by a
compa of Manhattan capitalists who
have improvedit at great cost n restricted
it to high grade dwellings. orymes Hi.
Tompkinsville. Is being built up. rapidly
by wealthy. men who appreciate its com
manding ~si.vstion overlooking the bay
In the interior of Staten Island there is
a growing demand for acreage property,
and land which two years ago could be
purchased for 500 an acre Is now being sold
at 5000. This property is being bought by
speculators to a large extent, although
many intending builders Of factories n
other business places are among the pur-
chasars.
Most of the acreage that has changed
hands in the last year appears to have
been bought by Wood. Harmon 4 Co.,
who, according to one Of the Staten Island
newspapers. now control one-eighth Of all
the unimnroved and mark etable land in
tho borough. The company. is at, present
= Offering a tract Of 500 lots for sale on the
same plan that 1t has employed In Brooklyn,
where during the last seven years 1t has dis
posed of Is ZOO lots to small investors. This
company as an incident of its real estate
campaign has sat on foot a movement to
change the nams Of the borough to South
New York. a
sThe public has approved our choice Of
the name South New York as q substitute
for Staten Island. The name Is popular
because it Is apt. South New Fork means
something, while judging from the name
alone, Staten Island might be a hundred
miles away. Indeed, some Of the prominent
men OF Staten Island are now advocating
the legal changing OF the name to South
New York. New York city furnishes the
business centre for a community that is
20 TO rs per cent. greater than the actual
grows, and II Is increasing at q rate con-
siderably over. 10000 a year, the newcomers
whose places of business are in New York
city naturally prefer, all things being equal,
to live within the corporate limits. Now
the name South New York Implies this.
a man can do business N Manhattan, i've
10 South New York na n q s tb a sgt nome no Ss
lived in Passaio or Elizabeth.
Staten Island has q total area OF about
thirty-Hve thousand sores. OF which prob
ably about twenty thousand Is available
for homes, the remainder being taken
up by private industries and factories
and Cove rnment fortiications. lighthouses,
{ quaranti station. DC, 4 these twenty
as BROOKLYN, Staten Island would have q
population OF about 100000; 1t now has
under 100 900. II will not be long before the
entire iiland il occupied with homes. Brook
lyn Il now receiving the bulk OF the new
comers and Is gaining so fast that II ID My
a question Of a very few years before that
borough will he practically built up, Long
nome hunter, will be turned southxard.s We
axnsct that moat al ao.p .fota vim pa built