Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1906-07-19
Forty Thousand n Ycar for New York
niugs of the Wealth of the As-
tors. Gerrys and Others.

century ago
THAT astute and far-seeng realty in
vostor, John Jacob Aston" said one thor
ouhgly Informed as to real estate, would
have laughed to scoul any person who
should have told him in 1906 that such
values would obtain in 1906 so near the
site of his little Water-street office; and
yet he was accounted foolish by his con-
temporarics when he disposed of a lot
on Wall street for $1,000 supposed to be
a low price, and bought so lots far
out In the country as Canal street. When
within few years, the value of this
purchase Increased 10-fold, Aston the first
proved himself to be wiser than all his
generation"
In fact the allied Aston properties worth
tot day more than $500 900 900 were origi-
nally acquired for low prices as farm
lands or vacant lots. Twenty-Five thous
and dollars bought the John Thompson
farm, extending from Thirty-fourth to
Thrty-ffth streets and from Madison
avenue almost to Broadway. Although
large parcels of this land have been sold,
over 100 lots still belong TO the Astors,
with a value. excluding improvements
of from $4,000 to s250No0 each. The old
Leandert farm on the lower Fast-side
now yields tho estate a large yearly
income as tenement property: about 100
lots, worth In the aggregate 5000 900.
more, still remain of the Greenwich
place farm land. which once stretched
from the old Fitz Roy road to the Hud-
son in the vicinity of Fourteenth street;
and two smaller farms to the north along
Ninth and Tenth avenues add over $50
lots more to the Aston holdings
When "thc butcher boy of Waldorf"
bought the Eden farm. on the west side
of the Albany Post road NOW Broadway
from Forty-fourth to Forty-seventh
streets and to Ninth avenue), he could
not have foreseen that It would become
the center of the hotel and theatrical dis
trict Yet. had the city's growth extend
ed only up the East side. or up Fifth
avenue, or along the Hudson. he left TO
his heirs properties in those districts that
would have amply fulfilled his expecta-
| TONS In addition to these farm lands
there were among the early purchases
parcels of land on the Bowery and
chain OF properties on broadway down.
town. Among the latter is the old Astor
house. perhaps the best known hosiery
| in America. An amusing story is con-
nected with the erection of the old hotel.
1t seems that about 20 years ago, when
!
secured with little trouble all the prop
erty necessary for his plans except
small lot owned by a retired merchant
named Coster, who though he had been
offered SO, O00-twice the value of his hold
! ing-would hear of no price, and refused
| to sell There followed a period OF
wrangling. during which Aston, who was
noted neither for his easy temper nor his
lack of resolution vowed he would have
the land Mt any cost, and offered Coster
$50 600 The latter weakened, but not I'M
til Aston went in person to Mrs, Coster
and got her consent.
The genius and good fortune of the
original John Jacob Aston are forcibly
brought to mind when one considers that
to-day New York total realty Is valued
at the enormous sum of S522l, 5S230l. and
of this more than per cent. Is owned
by his descendants. 1t is notable. also,
that this family was not among the or
iGinal or early settlers in Manhattan
When Aston came to America in 1888.
names like Goelet. Rhinclander Barclay
and Roosevelt We're. as now, synonymous
with wealth and realty possessions. To-
day the 6oelet estate Is valued at over
one hundred millions and embraces scat
tered properties from the upper East-side
to the lower West-side. Hannah Goelet
married an ancestor OF Elbrdge T. Gerry,
and when the latter, with all the wealth
lie property that had descended to him,
married, his wife. who was one of the
heirs of the Hoffman estate, brought a
handsome dowry in Manhattan realty.
, The Hoffmans owe their millions large
ly to the fact that their grandfather had
: faith enough in the future of New York
to pay $500 each for some so odd lots COM
prising the block bounded by Fifth and
Sixth avenues and Forty-second and
| Forty-third street. To-day the land
, which is divided between the IIoffmans
, and Mrs. Gerry, Is appraised at 81 1893, 600
{ Among other prominent realty holders
! We find such names as IIammerslcy
Potter, Galltain, Cutting and Gilsey, and
of more modern origin, Crimmins Hoe
Bowling and Clafn, Isaac Clothcr OF
Philadelphia and the late Marshall Field
of Chicago.
Two corporations, intimately connect ed
with the old names and with the history
y of Manhattan, stand out among the realty
owners. They are Trinity Church anC
the Sailors Snug Harbor Trinity, which
existed even when New Workers wer,
- Dutch burghers, continually received gifts
of farms of value The boundaries OF
the Trinity property have changed much
with the years, but the original church
plot as first granted ran down to tn,
river Much of this was disposed of b,
Trinity to found other churches, som,
was sold to meet financial emergencies
but enough remains even in the on,
tract to furnish a splendid income. Tn,
corner Of Broadway and Murray street
. il small part of the original holding
= brings into the Golfers of the church $50
, coo a year. In point of fact Trint,
: Church Is the second richest propert,
owner In New York, with a vast income
derived from its many holdings that il
, the old days went by such names a.
q Dominle's Hook, Lspenard meadows ant
Anneke JAMS farm.
r when. in 1906 Robert Randall son o
= the privateer captain, Samuel Randall
n died he was without direct heirs and /
n with the advice of his attorney, Alex
S ander Hamilton, left the Randall farm
- and estate of about Is acres two mile
p up the Albany Post road. in perpetuit,
for the maintenance of Snug harbor
= for unfortunate and disabled seamen. TIL
a and "A legal battle ensued which dragge,
r on for more than 20 years, but tn
y provisions of the will remain unbroken
At that time the farm with its rura
n roadwayS and entrance at the junction n