New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-31


parcels as the boon values" With the word
boom are associated realty methods tending TO
create and TO sustain false values. The expected
activity in vacant land this spring. however, will
not be the result OF boom tactics Of unscrupu-
lous real estate men, but a purchasing move
naent due 10 natural and healthy conditions I'm
proved transit facilities and the many stupen-
dous projects under way for bringing numerous
suburban sections closer IN point Of time to
Manhattan Island are the leading factors which
have already sent thousands OF persons scurry-
ing 10 the suburban districts looking for suit
able sites for building houses for their own oc-
curancy or as an investment. The principal
activity VIII be in the suburban Sone within one
hours ride of this city.
RAPID RISE IN SUBURBAN VALUES.
Last spring and summer scores Of land specu-
lators bought large acreage tracts in many re-
mote country districts at $1,000 an acre or more.
and after subdividing the tracts into lots and
laying out streets and giving the streets high
sounding names sold the lots at from $500 or
more a lot 10 prospective homeseekers. Most
OF those buyers will never improve their hold
ings and viii sell at a big loss. On the other
hand there were hundreds OF honest real estate
who paved the way into safe suburban
speculative fields for the little buyer by pur-
chasing tracts in the suburban sections. which
IN a few years win be benefited by the various
tunnels and third rail systems now being built.
u is pleasing fact to note that the operations
Of these men attracted as much attention and
were profitable the scrub oak land schemes
OF the dishonest realty sharps. The majority OF
persons who bought from the upright real estate
Spectators could sell to-day the lots they bought
ct fair profit Moreover. IN many attractive
suburban sections acreage tracts cannot be
bought now at prices which permit OF the tracts
hal, EoS
Spectator. investor or homeseeker at the aver
aging ruling price for a lot last year Many
realty leaders who have been for some years
prominent In lot speculation acknowledge that
e they could buy acreage tracts Ia the safe
speculative suburban districts this year at last
years prices they would experience not the
slightest trouble in reselling the tracts at a
substantial profit to builders who would at once
the improve the property.
HoMEsEEKERs WILL BE BIG BUYERS.
OF course there are many big realty specu-
iators who never stoop TO deceptive tactics in
order 10 sell their parcels, who firmly think
speculation IN the suburban sections was over
done last year and that there will be no repeti-
ton this year Of the big purchasing movements
IN vacant land which was one Of the leading
features Of the realty season Of 1906. So rapid
" did values increase last year in many subur-
ban districts that they became convinced that
unhealthy conditions We're mainly responsible
for most OF the new land prices, and as they
have not changed their views on this subject.
they naturally think the outlook for a quick
market for vacant land this year is gloomy and
utterly lacking IN the slightest promise Of being
bright The big Spectators may not figure 50
prominently this year ia vacant land operations
IN the me suburban sections because they were
large buyers OF lane in those districts last
year, and most OF them have decided not TO sell
until the builders Of years experience IN erect
cottages n az Nun 1faerc ~,
those places. The little honeseeker however
VIII be ever present throughout the season in
plot as a site for home for himself or TO re-
sell IN the near future at & profit
NOW IS THE TIME TO BUY
If the prospective homeseeker does not buy
quickly along the proposed new transit lines in
the suburban sections he win probably never
have another opportunity TO get lot or plot at
The prevailing prices. The values OF vacant
land IN the suburban sections OF this city have
been going upward IN the last few years at a
rapid rate. and three years hence when all Of
the tunnel and third rail plans perfected in the
last few years are expected to be IN operation,
the prices for suburban lots to-day viii then, Il
Is thought look ridiculously small Now IS the
uIne 10 buy suburban lots, according 20 every
careful student OF realty conditions, and not
three years or i've years later. IL the buyer Is
seeking 70 become land owner az time when
ne is certain OF making the largest possible
profit from his investment
To understand thoroughly the causes which
nave made great areas OF undeveloped land IN
the suburban sections such profitable specu-
latlVe zones. one must study the past and pres
ent realty conditions on Manhattan Island. It
was not SO long ago that the Dyckman, the Fort
washington Heights and the Marble Hi dis
ClcS q Manhattan Island ana fremont Ford
49, 20 Miliiamsbridge ana many other districts
- me Bronx were not especially inviting 20
builders. because the journey between the City
~ a1Snhattan. and those places was tedious
one ana when Il comes TO appraising any parcel
tn z suburban district the distance Ga time Il
- from the City Hall is one OF the most inn
poftant factors IN determining the value OF the
.1na Building operators, financial institutions
nc real estate investors VIII not lend literally
~ building projects IN remote suburban Sec
ions. for there Is no stability about realty con-
sN-lons IN such places, and, therefore, the op-
poFtuniaes Sog profitable investments ore small
PROFITABLE DEALS IN VACANT LAND.
About i've years ago e big tract OF land on
toEoham Heights was sold az auction nt the
Real Estate ealesroOms, and most of those lots
too Tor about 5000 each. Not one % those lots
could be bought to-day Cor much less than
1850 The increase in value there IS not due
70 ne natural attracfiveness Of the section being
Greater. no. but principally % better transit
f4cAirek, the laying out OF streets by the city.
NE paving ana grading ot the thoroughfares by
ne city the installing OF an adequate water
ana sewerage system and tho rapid increase in
population OF the city since then Those arc The
chef factors IN tho upbunding OF that district.
they are usually the leading factors in the up
bl1ldins Of any place. whether e is a suburban
district on q town. Because OF the improved
transit facilities, giving 70 the rection all city
Advantages. building loan operators were ready
70 lene literally Ga improving the district, and
= snort time rows and rows Of lnely built
e&oAes Cor one or two families occupied Iarsu