New-York tribune., 1907-09-19
MANY HOUSES NEEDED.
REALTY BROKERS WORRY.
Housing Accommodations an Jersey
City Much Less than Demand.

An unusual though not unexpected colol1on ih
realty affairs in Jersey City is causing much Wor-
rfnent The number Of dwelling houses and tene-
rnent In that fourislling city is so far be
low the demand that estate brokers there are
almost worn out trying to find some accommoda-
tions fo- their clients. According to real estate
experts who have carefully studied the housing
situation of the city, If five thousand more nat
houses. with rooms for one hundred thousand per
cons. could be built In few months there they
would al be rented before the Christmas holidays 1t
estimated that at least from 100000 10 10000 per-
sons have searched suitable homes in fathouses
fr that city since January I. and Of that vast
number only thousand persons have been sue
cesssful in getting homes there in that time. The
population Of the city IS a little 100000, and
easily he double that size provided II had
the supply Of dwelling houses and hathOuses SO
sorely needed.
TIE extraordinary demand for housing accom-
rrodarions in the city is attributed TO the marked
increase in the number of factories the proba-
hlty many other factories will locate there
Faon. the growing popularity OF the Van Worst
Park and Jersey Heights districts ideal home
sections the general prosperity Of little and big
merchants Of the city and the bringing Of the city
closer 10 New York owing to the building of the
Cortlandt street and Morton street tunnel routes
Of the McAdoo tunnel system
Early in December the Morton street route Of the
NcAdoo system IS expected TO be in operation. and
the present rush of people TO get homes in jersey
CITY is likely be much greater then than row
The running time of NcAdoo trains from the fur
thest sections of jersey City to 18th St and 9Th
VIII be about ten minutes. and that fact alone
has caused thousands Of families living In the up
Der section OF The Bronx and many remote sub
urban look Jersey City affor5 them
homes nearer their places of business Delays IN
travelling caused by foes have deferred for many
years many persons from making their home in
Jersey City. but there VII be no such delays in
travelling when the McAdOo ana the Pennsylvania
tunnels gre IN operation.
Otto kenpner, president of the New Jersey'-New
York Real Estate Exchange. az a meeting Of that
organization some months ago said that the slogan
CT New York snd New Jersey brokers should
sencefoTth be Jersey 10 the 'front.' That slogan
has already led the formation OF many strong
real estate associations composed Of New Jersey
brokers' and & has also been taken up by thou
sands Of homeseekers. and II looks # the New
Jersey builders would have TO become Identified
with phenomenal building boom in the metropoli-
tan zone OF New Jersey next spring II the New
Jersey realty interests are 20 be preserved.
Charles Read, a leading real estate broker OF
Jersey City said yesterday TO a Tribune reporter
that the housing situation in Jersey City
1narkable. "a fair idea Of just how pressing is
the demand for houses here may be had from
a little experience had to-day. One house under
my management became vacant yesterday, and
early this morning sign put the front
door TO Jet people know it was 10 lease. For some
years II had been renting al, say. $50 a month I
put a caretaker in the house and told him that
the rental figure was SIS a month. The sign was
displayed only q few minutes when several
asked to be shown through the premises. and
one Of them. g middle aged woman, said house
suited her. and Immediately signed lease for one
year to the premises. Since morning have had
eight persons ask to get them fat, and felt
Eyrfeved 20 have to tell them the same thing. that
] would have 4 difficult task get them suitable
accommodation.
For the last two years. Jersey City has quickly
found good market for its real estate. There Is
rot the sligh7e=t doubt that this realty actiyity
% TO~ cvavy
Eears. for Il1 -=.--te that Jersey City.
ing 10 lis pros. y 10 New York and its natural
advantages ~ a ne residential and nanufactur-
ing town. ass-.sed 20 grow greater along the
hest realty lines. IN fact. think tte future has
in store for place residential, business and
manufacturing city much higher than we now
even picture for il, In two years values In many
sections have risen % per cent and yet the record
price paid for business and residential lots IS small
compared TO the average prices for similar lots IN
many other places New York which have
few OF the realty charms Of Jersey City
THE greatest real estate activity I'm Jersey CITY
Just present is in the lower section Of the city,
which is known old eJrsey City The greater
part Of that district devoted business. but st
nevertheless contains many fine residential streets.
There are very many calls for large factory sites.
Prospective builders of factories here especially
attracted the lower section of the city because
Of fits great river frontage and its proximity the
ferries TIE best residential section Of the town
IS Jersey City Heights. Jersey City Heights com
pares favorably with any similar district in the
metropolitan zone Of New York and in ny esti-
NATION il has many natural advantages over many
other similar districts 1t IS without doubt the
most beautiful section OF frame dwelling houses on
large plots OF ground and with all city improve
nents within ten fifteen miles of the Wall Street
district Of New York
The Van Worst Park district is within 2 block
Of the City Hail here and has many spIen7idIy
built houses Houses in that section rent for about
q 900 year. and most Of the owners Of the
structures occupy their houses there are few houses
70 rent at that price. Not many years ago houses
in the Van Park district could be bought for
about 5000. The last house sold in the district
changed hands at about si6,OJO The majority OF
houses there each occupy a lot % by 100 feet and
have from ten twelve rooms. / am sure the
Van Worst Park section would be an ideal place for
future operations Of the apartment house builder
modern elevator apartment house IN the section
would unQuestionably be a paying investment
Building such houses would only help 10 re
lieve the great need for houses. but would be
ornament 10 the district. a plot 10 by 100 feet
for the erection Of such structure could be bought
IN the section for about s2o.coo''
These are truly boom times in the main busi-
street OF the city, which is Newark ave The
most important part Of Newark ave extends from
Warren ST. 10 Jersey ave, and throughout its en-
tire length vacant stores are TO oe found A
in that part OF Newark ave. rents for about
$500 q year All the merchants along that thor
oughfare be very prosperous The build
ing tendency there is to erect larger structures than
formerly. One Of the notable additions the sec
IS Perl1nutter's building opposite Keith &
Proctor's Theatre It VIII be ready for occupancy
about October L Mr.. Perlmutter recently bought
the plot adjoining in the rear and extending to
Railroad ave. and with this additional plot he has
a parcel with frontage of 20 feet IN Newark ave
and with a depth of 2eD feet The Furst Company
has added 70 its holdings by the purchase of ad-