The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-10
SHIFTING TRADE CAUSES MORE
BIG CUTS IN CITY LAND VALUES

| other half to losses in building values
caused by the general business depres-
sion. AS an Offset to this a net increase
Of sll,250,O 600 is recorded of which So
600. 900 Is for increased values In GER
tain large buildings. The Equitable
Building alone provided $1,000. 900 Or
this amount, bringing its total assess-
mcnt m to s22. geo. 900 and making N
the most highly assessed single building
in the city. The rest OF the $40. 900. 900
Increase does not look so stable for. as
was told In THE SrN recently, IL repre-
Ssuts advanced assessments on proper
Ties OF insurance companies and savings
banks to correspond to their sworn
statements Of value to the state au-
thOritics. Much OF this advance Is
likely To he removed because of pro-
tests.
other large advances are recorded in
the downtown district in the properties
1T the telephone company. All four of
their downtown central buildings were
advanced. one OF the larges, cuts in
value is recorded in the block bounded
By broadway. Beaver street. Exchange
place and New street. Here land and
buildiug values have been slashed liber-
ally. the deputy assessor having based
his decision on largely decreased rentals
because of the business depression and
on the completion of the Equitable
building which is expected to take many
tenants from older buildings. leaving
them with much rsntablc space unoc-
cupicd. Other similar spots downtown
are recorded on the tax rolls and Ii is
not diVulging any secret to say that the
TAX department does not think that the
points where the deprcssions arr
marked will ever regain their former
worth.
That the end OF the depression in the
old WholcSdl" district on and near Broad
way north of Chambers street is In sight
H. another story the tax rolls tell. This
year the cut ON broadway from cham
bcrs 10 Franklin street is about $1,000
u lot. The deputy assessors believe
that IN" approaching completion OF the
Broadway subway is beginning to show
It's cftcCt on values in "A gradual steady
.nE aud that tins years cut may be the
last. Further west on Washington.
| ,~;rrrnWiUh and West streets land values
| have been retained. but there has been
. general cut Oh buildings of about
$l,@OU.
ON the west side which includes the
old sixth avenue shopping section an
! unusual state of affairs exists. While
' tn" old r., all district IL still going back
in value the section Immediately to the
west j. showigg signs of strong recov-
cry due to the great activities of the
printing trades. Large commercial
siruc'ur's' hullt especially Tor them. are
replacing old mats and dwellings, and are
adding many millions to the assessed
N'Iues' ms gam however, IL NOT SUI
( iicient t. Offset the Sixth avenue losses
which leave that tax district with a
net decline Of $4,000, 900.
According To the tax assessors the
ON" great bulwark against absolute
,tnr.I ,ra,amoa ,h,ra ~, ,ha craanhr,
,,nr.. =, 60 i,,un.,ad ,,a, shnrtd ,n,,
i,st az ia. ,IJ i'm. hnuy.a Iooy. EN-.
aye,,, or ,Ic,s i,s doors nroner,y yai-
u.s NJ, ahou, o,,,d r.nIdiy daJi,. nv
10. ,rnnu", In ,ha NV, rrIr,,nn ais
,,rirS, ,',Imas b,rn hoon utt,annaa h,,
r,n,n IN tn !; ner ccr, u;,h +, nros.
,.,. - crr,h., n,,,..o, -, hri,Ii,a,
,,,u. ,i, rna, or n"d.r r,c,Inn 49,
on, ,,.I T. - ,ay rdsd ~ ON. ~,
81. 80, .," ,,a,. ,ro,,tsT,, -.
What the TAX pepartment thinks OF
private residence values is shown in
the assessments from Sixty-hrst to
Soyeu,y-sscond street. Fifth TO Madi-
SON avenue. awh.r, $4,000 "A lu, has
been gu, from former assessments
Murray I'm dwellings, on the other
hand, have not been changed mate
rally. This Is due To the fight now
being waged between owners of houses
and outsiders who would erect bust
nos and apartm,u, buildings in the
district. The tax officers are awaiting
the outcome of the fight before deciding
what values to assign.
THAI, Fifth avenue and For,y-second
str.r, il IN. huh of the real es,at.
univer.- IL ,ndicated in the new figures
f,r than seciiuu. Ras,d on the Loft
leas, recently reported AZ II East For
,v-secoud street where the candy man
win nav an average of s25 600 a wear
for tho u.xt forty-two wears. land VAL
nos from ,he Grand Central station To
Lyf,h .y.nu. have bsen nnshed mn
IN $40 OOO n front foot. From Fifth
+, Slxtb avenue SIS a a front foot
tx the new rate Prediction is made
he If equal worth Will. now there
il , dinc renee of sl.bO0 "A front foot,
The north side being the higher.
~" III ~ :" ~ no''.e"'t e".ne.
VI ~" "r'..ue am m f'i's..s"," STU
q 800 r"nn +" Wv ~
N'lur sf-o'ooo W. Wv Ia,
''''"' w. Wv "'N" :" ,',"
S'''c'' FROM 'neio VII .n' al 'epait.
'i'"t Sasn 'r' 70 WITH w ~ az
sue Si''ooo q IRON. toot up 10 rits-
"itn s''ctl. FROM my s. raioS
StNth su'c' ,"'s s"9 noI.u oo"
s.Nth street 'he! say II Is "o'.n Si.,o'v
f'i'S ,nlnth street sooo'ooo a iot' west