The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1911-02-24
VALUES
IN NEW YORK

1t is only by comparing values OF
today with those of yesterday that one
can appreciate how amazingly real
estate in this town has enhanced. On
Fifth avenue ten years ago one could
have bought all the property he want.
ed for $50 to $50 a square foot. The
prevailing price for lots was $4,000
to 100000, figures considered Just as
eXorbitant as the prices quoted today
The Union League Club site at the
northeast corner of Thirty-ninth street
is worth today about 100000. In
1880, when the club leased the corner,
it was valued at about $4,000 a lot.
During the subsequent years it advanc-
ed in value until in 1901, when the
property was appraised for a new
lease, it was found to be worth $780,
600. Since then it is said to have in
creased 500 per cent.
The old Lotus Club property, a lit
tie farther north, was sold last year
for $750,000, was resold this spring TO
Knoedler & Co, at a profit of $5O,OOO
The site of st. Patrick's Cathedral
was purchased by the trustees of the
cathedral and st. Peters church on
Barclay street for $500 in 1920. In
1852 st. Peters trustees sold their in
terest for $59,5OO. Today the cathe-
dral site is the most valuable on the
avenue and is easily worth several
millions.
Coils P. Huntington bought the
southeast corner of Fifty-seventh
street in 1889, plot of five and three
quarters lots, for s45O,OOO. This was
an enormous price for Fifth avenue
residence property, and even the Lon
don Times, in its issue of July 16, 1889,
thought it notable enough to require
paragraph. A conservative estimate Of
the value of this property today is
about 100000.
Another holding that has increased
remarkably in value is the old Prog
ress Club property at the northeast
corner of Fifth avenue and Sixty-third
street. The club bought the site in
1887, paying for pilot of four lots
$285,ooO. or $3.50 a square foot, The
club built three-story house on the
plot, which it occupied up to 1903,
when the property was sold to James
B. Haggin for $725,OOO, An option on
it was taken not long ago by a syndi-
cate which proposed to erect an apart
ment house on the corner. 1t is report
ed that Mr. Higgins price is $780,
900. At this figure the increase in the
value of the plot since 1903 is $775,OOO
and since 1887 $1,9OO,OOO.
Values on Thirty fourth street have
increased probably as much as those
on Fifth avenue or Broadway. Last year
$4,000 was paid for an inside lot on
the north side of the way which could
have been bought in 1902 for less than
100000. The higher price was paid by
Oppenheim, Collins & Co. for No. 81.
For No 80 they paid S435,000. No. 80
was purchased from the bankers In
vestment Company, which had acquir
ed it few weeks earlier from the
Van Norden interests. The Van Nor
dens paid $325,OOO for it four years
ago.
The property at No. Al was bought
in 1902 by the Thirty-four street
National bank for $155,000. Three
years later the property adjoining at
No. 43 brought $25O,OOO. Following the
announcement of the Pennsylvania I'M
provement values on Thirty fourth
street doubled. Just before the COM
pany announced its plans Charles q.
Johnson bought q West Thirty fourth
street The next year he decided to
annex the adjoining house, but to do
so he had to pay $12O,OOO-New York
Sun.
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