New-York tribune., 1908-03-08

About a wear ago a we'll known drygoods firm
bought plot 50x136 feet, fronting in one or 'he
best blocks of the shopping district 1t pald @'o'oV'
or than s11 square foot. for the site AS tha'
site did not extend to the street. adjoining
site furnish outlet to the plot for handiins
packages and heavy merchandise had to De rousiit
| In this idea Of the valuation or the 1>e"aiN
! avenue frontage is obtained. 1t is about sl'U d
| front foot. And if such plot extends from one
street another. about $3.50 a front foot
RENTALS IN SHOPPING CENTRE
! From what can be learned there 40 sites in
the best shopping OF Newark avenue for sale
and what few stores can be leased cannot De
had AT less than $4o0e year. The yearly rental
in most Will be about $4,000 and there is little
doubt that about $500 Will be the average yearly
rental paid for in the section in the near
/ future.
From Manhattan experts point of view values
in the section are ridculously low This expert
thinks that a big investor would be getting bar
gain if paid 5000. as high as $500. front
foot for in the heart of this prosperous shop
ping district He is also opinion that the
Hudson & Manhattan &tailrcad tunnels between
Jersey CITY and Manhattan. while increasing build
ing in Greenville. Bergen. Hudson City ano Lafay-
cite sections will enhance values in the leading re-
tail shopping centre of Jersey City and to de-
gree much larger than with brokers and operators
faith the realty future of that shopping centre
expects. The expert says: Great realty op-
erations are anticipated for the Hudson City dis
trict of which the Five Corners are large realty
",
fected there. In the Bergen section building on a
scale which will surpass any IN the history OF Jer-
sew City is bound to be well under way in short
while and prominent in those operations there Will
be many operators and spectators of large means
who have before, figured as developers in
that city. Greenville has many more fine dwelling
houses and lathouses now than it had several
wears ago. and there is room there and an urgent
d. .mand for much larger number Of small and
big houses Because of those facts and the stmn-
l,Is given To the building IN the section by the
tunnels which unite New Jersey 70 New York,
realty conditions will he, whei' money Is more
plentiful most suitable for the raG!" ci.hniding OF
the district attractive lines
HUDSON CITY Is ALLURING
we'll known It al estate broker asked last
week wha, he considered I'll, most attfdc'N"
ouIgbfares of Hudson City, both to investors and
snec,,lators He quickly replied they Were Van Rel
pen Pavonia. Magnolia. Reservoir. Booraem ave
nues and Sherman Place. avenues which are with
In 1--WE minutes walk of the Summit avenue tunnel
station: and houses which are well buiit from tue
foundation to the roof and with floors planned by
architects of many years experience occupy SUIT
able sites fronting those thoroushfares and IheE
may be purchased for prices ranging from 5000 10
$500 There are costler and more ella borately
buit houses and they find quick market at about
$4,000 each.
Near the new courthouse site. just the
Five Corners several modern two family houses
for sale at Sc, 900 each The total monthly rental
Of each house is about $50. 1t the general opin-
ion that If the cost of building material continues
increase this and next year. as 1t has Of late
years. will be impossible to duplicate these
houses for less than $1,000 each in 1910. How
much will be the increase OF land values in this
section In two years? Some experts think IL will
be least per cent AS that appears 10 be d
fair estimate, the market value of the houses In
1910 about IS 600. Any who doubts
that store rentals the Five Corners are low
should look carefully at the array OF figures show
Ing the rentals in the Office district which
may a various brokers' Offices. Fine stores
be had there at $50 a month.
The following is deal which gives fan. idea
of the rise In values in the Bowers section
the Hudson boulevard. woman purchased
= two family house IN tnat district about ten years