New-York tribune., 1910-05-22
REALTY GROWTH OF QUEENS
Total Value of Improved and
Vacant Property, S310,0O0,00o.
By william C. Demorest, President Of the
Realty Trust.

Although diSinclined to propheSy, the
most conservative operator may justify
optimistic forecast on the Queens market
by developments in the last few years and
the present strong movement of home
seekers Furthermore, it is somewhat
automatic that certain developments in one
section of a big city as the result Of i'm
provements will be duplicated in another
section when similar or greater improve
ments have been furnished.
The phenomenal upbuilding and concom-
liant enhancements in the values of Har-
lem holdings were first due to the construc-
ton of the elevated road. Benefits to The
Bronx followed Immediately upon the be-
ginning of work on the subway.
The growth of Queens since the inception
Of work on the vast schemes of improve
ment, while remarkable. has been con-
servative. At present not more than 80 per
cent of the land is occupied by buildings
When the full capacity for transit service
across the greensboro Bridge is utilized,
when the Pennsylvania tunnels are opened
to the trains which will carry passengers
from the heart of Manhattan to Queens
territory, from ten to fifteen miles distant
from the City Hall. in from fifteen TO
twenty minutes, and the Steinway tunnels
are opened TO traffic. there will be a home
seeking and investment movement to
Queens which will effect the complete up
building of every acre of we'll located
land, while what appear at present to be
exaggerated expectations of value in
creases may be proved conservative pre-
dictions.
Effect of Transit Routes.
In estimating the propable effect of the
new Queens transit improvements 1t must
be remembered that the addition of these
new arteries of travel will furnish a greater
hourly total carrying capacity than all the
north and south lines in Manhattan have at
present Across the greensboro Bridge and
through the Pennsylvania tubes alone the
capacity over the ten tracks is estimated
at 115OOO passengers an hour, while over
all the north and south lines in Manhattan
it is possible at present to transport hourly
less than 10000 passengers.
The present active demand for Queens
holdings is but the inception of move
ment which will remove properties of every
character from the market. In the inland
sections thousands of acres have been con-
verted into residential centres, and the
breadth of demand is shown now by the
active selling of homes and home sites in
territory generally described as exclusive.
The building statistics of the last two
years show that the average cost of new
homes erected along the north shore has
increased more than 10 per cent in that
period. The construction of ,0000 dwell
ing on the Sound front creates no more
comment now than did the erection OF an
5000 structure a few years ago.
With all of Queens territory as easily ac-
cessible from the business centres of Man.
haitian as the lower part of Harlem is now.
there will be multiplications in values
which will bring Queens properties up to
the price levels in Harlem and The Bronx.
Without the enhancing power of actual i'm
proved transit the total value of Queens
properties has increased from s14s, 0,0l0 in
1906 to $4,000 600 in 1910. There is every
reason TO believe that during the next four
years enhancements will be still greater.