New-York tribune., 1908-07-23
A GOOD REALTY RECORD
NEWARK BUILDERS BUSY.
Ouer IS, 200, 900 To Be Spent I'm
Construction W0rk There.

Many OF the choice residential districts OF New
ark are growing rapidly. Since the first OF the
year over s. 2ooo 900 has been invested in building
projects within the limits Of that hourishing CITY
OF course the building projects OF that city for
the first six months Of this year do not equal the
construction worl carried out there in the CORE
spending period last year. No one conversan' "i',
realty affairs expected that they would All
things considered the building record MADE py
Newark IN TIE last six months is. indeed, creo-
itable one Briehy, the record lis another reVeia-
ton that the real estate market there is stable
In the first six months of last year plans were
filed for the erection alteration OF l2oS buiiohss
I'm Newark the estimated cost being placed al
81 aol 5ss For the similar period this year plans
have been recorded for erecting or altering Ills
structures in Newark at cost of SySSoSS.
Recently the money channels affecting real estate
have considerably broadened. There are now large
sums Of money available al attractive rates OF in
terest carrying out building projects. and most
of the loans be had without paying the hiSh
bonuses that paid late last year for the fur-
.hering of construction work Owing to better
realty conditions it is the opinion of many real
estate experts that the building record in Newark
for the entire year will compare favorably with
that for the previous year. Many builders there
who had little to do this season are planning
TO re-enter the construction field scale as large
ss if not larger than last year. The last few years
were record ones in the building lines, and that is
the reason that the decreases in construction Work
sn the last six months or more appear to be so
large 10 the majority Of persons Win little e1-
xerience IN realty affairs
Last fall some OF the pessirlists in the realty
market looked forward TO wholesale slump
in values, not only on Manhattan Island and In
The Bronx Brooklyn. Queens and Richmond, but
sn the outlying districts. Some of them became
so firmly convinced that their view of the realty
situation was a correct that they formed syn
dicates some of which mad a cash capital of many
thousand dollars. TO take over whatever choice
realty parcels would be offered at price below
the prevailing figures in the boom days which
followed the opening OF the subway in 1901 SO lar
the syndicates empty handed as the DAY
when they organized Here and there In the met
ropotan zones there have been slight decreases
in values but in most districts values have not
only been held firmly. but have increased
The most marked increases in values have been
sn Newark and several other nearby cities. In the
Clinton Hill section OF that city, which comprises
the 10th Ward a plot sold this week for $3.50
which could have been bought about eight years
ago for 500 The plot has q frontage Of fifty feet
and q depth of about hundred and fifty feet
III forms part of one of the choicest residential
zones of that city This part of Newark was prac-
tically large unimproved tract of land about ten
wears ago and to-day its realty strength measured
in dollars is many hundred thousands This plot
IS also the last remaining vacant one in street
which has been transformed along the best lines
within the last five years There some nearby
rlots OF equal size and in almost superb loca-
tion for which the owners are asking So,o0 or
more each The realty building tables of Newark
for the last six months show that the greatest con-
sr1,cton activity there is dictricts entirely resi-
sential and in sections partly occupied by dwelling
house and industrial buildings. The tables are as
follows: