New-York tribune., 1911-11-29
SPECIAL ANNOUNCEMENTS.
M'VlGkAR, GAILLlRD REALTY
COMPANY.
Successor OF First Estate Office
Established in Kew York City.
lis Founder Operated on the Island
OF Manhattan in the Laie
Seventeenth Century.

Seventeenth Century.
There exists in no other place. perhaps,
such an unbroken chain Of New York
City's real estate history, from the late
seventeenth century to the present time as
in the records of the McVickar Gaillard
Realty Company. at No. i2 Broadway.
In 1929 the States General Of Holland
granted to any member of the West India
Company who should found a colony Of
fifty persons the title Of PATRON. with
the privilege OF selecting a tract of land
sixteen miles on one side or eight miles on
both sides OF a navigable river. and ex-
tending as far inland as was wanted. any
where within the limits of the province
except on the island Of Manhattan This
tempting offer excited the cupidity and
love of power of the merchants Of the
West India Company. who as PATRONS
would be petty sovereigns in their own
right and feuda lords of the soil. num-
Der hastened to take advantage OF it,
among them Eillian van Rensselaer,, who
purchased about thirty miles square. on
both sides OF the Hudson River. at. above
and below Albany, TO which he gave the
name Rensselaerwyck. The present coun-
ties OF Albany and Rensselaer, were part
of HIS holdings.
PATRON van Rensselaer,. however, was
not slow TO see that the commercial possi-
bilities of the province did not lie around
Rensselaerwyck Further south, on the
island OF Manhattan, was being laid the
foundation OF a great city, and the oppor-
tunity to acquire increased wealth lay in
the future demand for real estate there.
The Patroons operations We're confined
first to the lower east side Of Manhattan,
and later to other sections. At the time
of his death he had acquired many acres
which descended TO his son stephen, with
all his property in Albany and Van Rens-
selaer counties and the title Lord Of the
Manor Van Rensselaerwyck. Part OF the
property mentioned in PATRON van Rens-
selaer's will Is where Niblo has his gar
den" at present the block extending from
Houston 10 Prince street on Broadway,
and running east. The estate left to Lord
van Rensselaer, began to increase not only
in value but in size. and for its proper
administration IL was necessary TO estaD-
lisb an Office. through which all matters
regarding it were to pass. This is the irst
recorded estate office in New York City,
and from it. after the death OF LORD van
Rensselaer,. who left his large estate,
amounting 10 $l0.eNGoO. TO his two sons
Philip and stephen originated the real
estate firms of Philip van Rensselaer,
Stephen van Rensselaer, Cruger, Stepheh
van Rensselaer, Cruger & McVickar, Nc
Vlckar a. Co. and the present McNickar'
Gaillard Realty Company. which has been
the agent for many years Of the estates OF
New Yorks oldest families, and without
doubt is one of the best informed OF the
city's real estate firms regarding realty
values. past. present and future
Speaking lately Of the city = growth and
the strength Of its realty, Mr. William
Z O Gaillard president Of the McVickar'
Gaillard Realty Company, said;
when one studies the records OF New
York CITY from 1s4l only--for We have rec
ords In our Office running back 10 100
with ITS $4,000 population, against o'oo0"
in 1911 its l35 miles of paved streets against
4,2 miles to-day; the assessed valuation OF
real estate SlS6,3i7,2i6. against SL0Doo0yJ
in 1911. the whole expense OF the city rep
resented by S1.SSS.0oC against SlA0'sSS0 IN
l9Il-when one studies these records ne
cannot but look with amazement at the
growth of New York City and the oppor-
tunity Tor large profits through Investment
i'm it's real estate.
'Ir all Of the present boroUghs. but par
ticularly i'm Manhattan and The Bronx II
an investor Will study the moves OF popu-
Iation and commerce, are profitable invest
ment fields OF course, in Manhattan III
vestmeut in real estate requires large capi-
tai. but d way is open to-day which did
no, exist in iS4l for tile investor OF small
or moderate means TO have the AID OF
larger capital 10 give him fair return on
his investment. with real estate OF the DesV
character AS security for his principal
Here are some records OF real estate
values in Manhattan from 1874 10 lsll, taken
from the books OF the McVickar, Galllard
Realty Company. They are interesting
COMPARED with values to-day. Eight lots
ON the corner or. Broadway and Houston
s,reet were purchased in 1874 for S,l0D each.
A moderate appraisal Of the value OF these
lots to-day would be 10000 each. In lS30
a whole block in Broadway, near 4th street.
running through 70 Waverly Place, "aS
offered twenty times for $4,000, without
finding a buyer This entire Dioch lo-ual
is worth close TO $S,0OJ,0co Lots IN o'li
auO 3Sth streets, between flilH anu "''
avenues. were purchased in 1871 at corpora
ton sale at S30j each. To-day they are
worth perhaps $4,000. In lS45 John hu''''
a millionaire. purchased for S2,4oJ loV AT
2etb street ana Tifth avenue. a conserN"-
tive advertisement would put It's value 10
dav at about $4,000. As late a. IS''
eighteen lots 25xl00 feet, eight OF them On
Fiftb avenue. five in 35th and five III ooth
street adjoining were offered at N',y'
each. The street lots to-day are worm
over sIo0OO each. and the avenue lo'a
.,, average Of 100000 each.
Besides its administration Of large e9-
tates the McVickar, Gaillard Realty No'"-
ra-.v carries ON very large orokeraee
business I'm four centrally located CiH,e7 'u
New York City-No. AZ Broadway no al
columbus avenue. No. 4s9 Fitth avenue ana ana
NJ ~ Fast Houston street II ls {llC
User Am the buying and selling OF real -,
and tnc placing Of mortgages tor t'il NJ
VGrk Real Estate Security tompdh!, o. -. -
A. IiToadvav. which issues O. per cent poI.LI
l--c,Ire5 bv improved New YORK ~ltN IS"i
estate and real estate mortgage
=. j. OAKLEY RHlNELANDEH'
~ Oakley Rhinelander IS the able