New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-27

able to satisfy all the demands of the
War Department and that the final
papers may now be signed any day.
Once these negotiations are con-
summated the new transit line will be
rushed to completion. Service to Pei
ham Bay Park should be in operation
bout eighteen months after the Bronx
River bridge matter is settled. accord
ing to the estimates Of the Public Ser
vice Commission.
At the close of the Civil War the
city's northern limit Of building i'm
nrovements was in the neighborhood
of Forty-second st. The site of
Sherry's and Delmonicos was then
a stockyard. Lots in Fifth av.
brought only a few thousand dollars
at auction, and far less than 1000 on
the side streets Below Eighty-siXth
ST. the city contained in 1865 more
than $4,000 vacant lots. The construc-
ton of apartment houses began about
1869, and the extreme height of the
business buildings of the period was
five stories. As an instance of the rise
in values downtown, the Dutch Society
in 172S purchased the site of the Post
office in Nassau ST.. between Lib
erty and Cedar SITS, for SIS pounds
were sold to the government for $780,,
600, and yet, even as late as 1870. the
City Of New York was not nearly so
well improved or developed as is the
Fox estate in The Bronx to-day, or as
will be Clason Point district coinci-
dent with the operation of the new
Westchester av. rapid transit line
from Coney Island to Pelham Bay Park
for a five-cent fare.
In 1867 the Island of Manhattan. east
and west Of Central Park. was a will
derness of rocks and shanties. Rapid
transit in its crudest form changed all
this. and one of the greatest eras of
speculation in the history Of realty
was the period from 1867 to 1878. The
Second av. cars to l22d ST.. the Harlem
Railroad to Harlem and the Third av.
car line to seth ST., with changes en-
route. inaugurated the building move
ments, which since have been aug
mented by the construction of the ele-
waited lines and subways.
The growth Of the City of New York
and the development of it's central and
outlying districts have been due to i'm
proved transit facilities, which have at
tracted builders and population to the
more remote regions.
There are two divisions Of the
Bradish Johnson estate lots, largely
lowland properties. some of which lie
directly along Pugsley Greek Even as
the study of man is man, so the study
of property is property and of values
values. In the history Of the rise of
New York City real estate values. much
Of the most valuable property of to- I.
day formerly was hidden from sight .
by the waters OF the East and North .
rivers. by creeks, canals and meadows. ,
One of the most recent mentions of .
profits made at auction sales was the .
Morris estate auction sale of property .
situated on Mott and Sheridan avs.
l53d and l56th SITS. Every lot buyer
that we know Of" said Messrs. Day and .
Davies in a statement yesterday, "has
been offered a substantial sum over the
purchase price paid for the lots"
Another estate that stands out prom
nently in this respect is the recent
iennessy estate auction, consisting of
ots in the New York University sec
ion Of the West Bronx, where block
fronts have been built up with five
tory walk-uDs, occupied and sold at a
)lg profit in less than one year from
he time of taking title from the Hen
Messy estate. One of the largest buy
RS and builders in this section is the
.amous Bronx operator William c.
Bergen.