New-York tribune., 1908-03-22

| ers confne their operations TO one-famiiy houses
others two-famly type and still others erect
many kinds of buildings. These builders have been
able to construct one-family OF two-faniy dwell
ing house, in spite of the big rise in wages IN the
last years paid skilled workrnen. that rent
| for about so5 month up. In the two-family
house apartments may be had which are modern III
every respect, having conmodious and sunny
rooms, for about SIS month up. AS there Is a
wide margin between present values and those that
| prohibit q continuation of such operations. there
ig naturally an opportunity for investors and spei
lators trading in land and houses in the section FOR
some years TO with profit to themselves ana
| to the persons who buy from then
BIG SPECULATIVE BUILDERS NEEDED.
| The speculative builder is wanted IN Jamaica ne
| is anxiousy desired also in Hollis, queens anu
other DELIGHTFULLY."- attractive towns on Long iaiao
within easy reach Of the City Hall Manhattan. ne
is especially needed Jamaica. because the oe-
msnd for the medium priced house Is becoming 80
large there that old houses find ready market at
prices which simply amazing 10 ihe NM
seeker The reason the speculative bulldeT las 'o'
got firm foothold in large numbers in Jamaica Is
owing to the difficulty experienced in getting sas
factory building loans. and without such loans 'He
expense Of building is greatly augmented II Is n"'
the small speculative builder which the realty III
terests of Jamaica need but the builders VINO nave
played such important roles in the broadening "l
the great residential districts Of South Brooklyn
FTatbush and East New York and IN Rchn1ond
Hill Plans are being perfected to induce TINS year
vast numbers of such builders and they Will lkely
result In the formation OF syndicates' Win larse
Sims of money 10 loan for building purposes al
fair rates of interest Wherever the speculative
builder Is present in great numbers property al
rays has quick and il creasins value among IN
ves+ors It is where the leaders in speculative
building are absent and the channels for trans
forming sites are on a basis where the earning
power is not aIluring to the investor that reai
estate is sluggish and values shrink
MAIN BUSINESS THOROUGHFARE-
Values in Jamaica vary considerably. Even the
physical characteristics. or rather the realty meas
u-e-nents of the town are different TO most
nlsces In Greater New York that the speculative OF
investment possibilities of the place cannot De de-
teru1ined by quick examination OF the Tea4'S
landmarks Few districts Of this city nave as
bright realty futures Jamaica. Richmond Elll
and the various other sections between East Ne"
York and Richmond Hill and the towns d Shot'
distance east of Jamaica. II will not take person
lons 70 discover north of Fulton street Jamaica
.s to continue the principal high class reside
teI part OF the town. and that the chief retaii
shopping district will comprise only few blocks
and will be within almost the same BOUNDARIES tnat
Il has to-day Various adjacent side streets reveal
the rapid encroachnent Of business there. The
that business spree ding the side streets
ia due TO the salness OF the business section and
the upossbiIity Of many prospective storekeepers
finding suitable main business streets
to rent
In fact. there are only few stores which can be
rented and the yearly rental permits only Of a
| lessee who has been for long time successfully
engaged In business. So II is the side streets
that the small prospective business man must lock
for place which locate If he desires to join
the great and growing shopping district Of this re-
m3rkable town. There are, indeed large number
of shopkeepers with stores in Fulton street, Ja-
r1aica. who TO be considered unusually fortu-
nate they secured control by long leases TO the
sites which they occupy at rentals which look
rtdiculousIy low to-day The few stores available
for rent can be had only on year leases
and that Is the longest lease that anybody can
expect TO get In a town OF such rapidly enhancing
realty values Business sites IN Fulton street are
firmly held at from s.. 600 to $500 front foot the
larger value prevailing for the most strategic sites
On either side Of the principal business the
value Of business sites averages from $500 70 $50
front foot
THE REALTY PROBLEM OF THE TOWN
Now like every nourishing realty district, Ja-
naica has It's realty problem, and 1t Is nothing more
less than the question whether or not the town
Will grow more rapidly in the western section than
in the eastern, and the persons who solve
| find true answer to this problem have within
their grasp a golden realty opportunity. The
, Pennsylvania and the Long Island Railroad vii!
occupy a Joint station q plot extending from
Carlton avenue point just north OF Whittier
avenue II VIII thus be by glance at the map
that this site be improved is several blocks west
OF the old Jamaica station. Owing TO this station
project certain real estate operators firmly IN
clined to the opinion that the western end of the
town will grow rapidly and along better lines
than the eastern section. Clinton avenue jamaica
Is OF the attractive residential thorough
fares OF the town. II has many houses which cost
more than $500 Though the street is only q
few blocks length realty wealth is probably
greater than that of any other similar thoroughfare
Of kind in Greater New York. The market value
of property in the is from about s. 600 70
$1,000 lot, and the average house and plot in the
street finds ready buyers at about s25.0o0 each.
Thus the foot valuation OF lots the
would be from $50 to $50
AREA OF LOTS VARY CONSIDERABLY.
In studying valuations in Jamaica it should be
the OF lots is 20 feet by 100
and that wherever front foot valuations are ex
pressed the depth of the lot be either less
considerably greater than 100 feet. In many cases
It viii be found that plots of which the front foot
valuation is quoted would have q depth OF
40 feet II would be difficult matter TO discover
q weak point in the realty measurements OF the
many beautiful residential thoroughfares north OF
Fulton street and surrounding the retail shopping
there. Valuations along Bergen avenue al
equal and. according experts
a par with those prevailing in Clinton avenue.
What is amazing the real estate student is that
within less than two minutes walk OF such high
class residential thoroughfares Clinton and
Bergen avenues lots 10 be had at from 500
81 900 each. In fact, various small tract develop
about $500 I'D.