Real  Estate   Record





AND BUILDERS' GUIDE.





Vol. XXII.





NEW YOEK, SATÜRDAY, DECEMBER 7,1878.





No. 560.





Published Weekly by

€\yt Sed ® skls %mx)s i.ss otmiian.

TERJIS.
ONE YEAJR. in advance....SlO.OO.
Communications should be addressed to

C.  \V.  SWEET,

Nos. .345 AKD 347 Broadway





THE CENTRE OF FASHIONABLE GRAVITY.

In ancient times, that is, about thirty-five years
ago. when tbe building line extended no further
than Fourteeuth street, tbe expectation was
cherished thafc the fashionable growth of tbe city
would follow tbe line of Broadwaj- as bad beeu
the case in its previous history. Even after the
projection and eompletion of Central Park the
belief was .still entertaiue'd thafc tbe trend of ex¬
pensive building improvemeuts, though for a
long time deflected in tho direction of tho East
side, would ultimatelj- take a westerly course.
The hope was foudly indulged that the resistless
march of improvements would surge and eddy
about tho two southerly angles of Central Park,
and distribute itself equallj- on either side.
These expectations, however, remaiii totally un-
realized. Either the curreut of public improve¬
ments lacked volume aud force enough to
eircumveut at oue uud the .same time the two
ungles of the Park, or eise the Park itself pre¬
sented so formidable a suag that the curreut
naturally diverted itself to oue side; namely, the
easterlj', and there formed a separate and inde¬
pendent Channel for itself. AVithin the last few
j'ear.s', tbe settled course of building improvements
has determined beyond peradventure tbat the
easterly side of the Park will be the field of the
uiost extensive und imposing enterprises at least
for oue or two generations. The tj[uestiou once in
debate has been completelj- aud irrevoeably de¬
cided. The momentuiu of building iudustry has
now set in so sfcrouglj' on the easterlj- side of the
Park thafc ifc will be able to easilj' overcome aay
obstructive obstacles and to resist anj- attempted
diversiüus.

Ib would perhaps be veiituriug too much to say
that the easterlj' side will be completely built up
before the improvemeuts ou fche westerlj- side are
begun; but the statement has the support of phy-
ijical demonstration tbat the improvement of tbe
east side will be ruade long in advance of that of
its former competitor.

The fashionable element is che one which gives
superior and special value to New York residence
property. In past experience tbere has been a
distinctive ceufcro of fashionable gravity obsarv-
able in the march of improvements. The so-called
backbone of tha island, following the line of Fifth
.avenue, has been tbe^ recognized centre of fashion
for more than twentj--five j-ears. As Fifth
avenue has but one .side above Fifty-ninth street
it becomes an interesting question to determine
where this centre line maj- be located in the ram¬
ifications of fashionable residences above Fifty-
ninth street. AVe have examined this question
crifcically from the staudpoint of personal Obser¬
vation and have little doubt as to fche correccness
■ of our conclusion. An intelligent survey of the
easterly district must satisfy any expert in these





matters that Fourth avenue, as at present graded
and improved, is likely to be for ali time tbe east¬
erly liinifc of fche new fashionable quarter. Tbe
idea of renewing and perpetuating the traditions
of old Park avenue in upper Fourth avenue, is too
chimerical to be seriouslj' entertained. Alreadj-
the building iinpi'ovements on Fourth avenue
partake of the character of the common tenement
and Store. While all along its liue corner lots
have been improved, as street fronts presentiug
the gable ends of buildings on the avenue, thus
practically ignoring aud subordinating Fourth
avenue frouts. The uninfcorrupted successiou of
vents in the tunnel enclosures, some of \vhi<'h
extend the length of a block, present drawbacks
to the fashionable occupation of this avenue which
connot be overcome. Tho project of enclosing
these tuunel vents in miuiaturo parks is a praise¬
worthy aud practicable scheme which [should
be carried through without delay.

The district east of Fourth avenue preseuts op¬
portunities for the erection of low priced dwell¬
ings, whose desirableness and intrinsic value are
likely to be enhaneed by proxmity to the re¬
stricted area ofthe new elite quarter. Iu the near
future we may safely assume thafc Madison avenue
will be the centre liue of fashionable residences
from Fifty-ninth street fco the crown of Observa¬
tory Hill. The buildiug developments both com¬
pleted and in progress in this quarter present
spirited aud eneouraging auguries of its future.

There is some tardj' and isolated work being
pi'osecuted on the Fifth avenue face. The future
of the avenue, however, is more problematicai
than many suppose, and altogether less defined
than the interior of this section. Who can teil
whether it will be the localitj' of rcsideuces,
apai'tment house-, hoteis. public buildings, or ofa
medley of all combined ? Ifc is a noteworthy fact
that building improvements in the interior of the
uew districts do not follow a closelj' consecutive
Order, but are scattered over a greatlj' extended
area. As migbt bave been expected the elevated
points, such as Lenox Hill and Observatory Hill,
are receiving the large.st share of attention. A
%vorfclij- example was set by Messrs. McCafferty Sc
Bucklej', architects and buildei's, in their elab¬
orate improvement of the southeast corner of
Sixty-eighth street and Madison avenue, consist¬
ing of a Cluster of buildings whose workmanship
and finish have excited general and appreciative
admiration. These buildings found ready pur¬
chasers at füll prices and are now occupied by
representatives of prominent families. This
pioneer exposition of tasteful and meritorious
building construction has not been lost on com¬
peting buildei's, but has quickly excited their
emulation and enterprise. The Messrs. AVilliams
ai'e about completing a row of five elegant and
costly houses ou Sixty-eighth street, between
Madison and Fourth avenues, which have no su-
periors of their class in the old fashionable
quarter.

At the southwest corner of Sixty-eighth street
and Madison avenue Mes.ers. Muldoon & Mow¬
bray, both builders of long experience and excel¬
lent reputation, are engaged in erecting a block
of ten houses uot a whit less pretentious in archi¬
tectural appointments than tl e best dweUings to
be found in the lower part oi the city.





On Sixty-sixth street, between FiftV and Madi¬
son avenues, Messrs. Breen & Mason have com¬
pleted, and are now ofTering for sale, ttve houses
of exceedingly creditable construction and elabo¬
rate finish.

Ex-Judge Pearson is the proprietor of improve¬
ments at the southwest comer of Seventieth street
aud Madison avenue, which have ah'eadj- assumed
impressive proportions iu this most eligible lo¬
calitj-.

"We have culled, for illustration, these few
choice specimens of the building enterprise that
is being so activelj- displayed in this quarter.
Here and there are some exhibitions of tbe trashy
productions of building loans, but, as a rule, even
inferior buildings in this i[uarter conform to ac¬
ceptable Standards of taste nnd merit.

Altogether these new buildings furnish a hand¬
some uucleus for the new fashionable quarter,
and already mark the outlines of a substantial
addition to the physical attractions of the metrop-
oli.s. Thus far the public response to these build¬
ing efforts has been prompt and appreciative. As
this region becomes more settled, thi'ough multi¬
plied improvements, the objeetions of loneliness
and Isolation will be removed. Exploring a new
section in city localities is like the settlement of a
new country, the fii'st emigrants have the hardest
times. TV ith a successful marketing of existing
productions, the work of the builder is likely to
become more remunerative, and consequently
more invitiug.

Tbe extremely narrow section to which fashion
is hero likely to restrict itself, will detei-mine the
speedy eompletion of its improvements, unless
they are met and thwarted by the perversity and
obstinacy of real estate owners. That ever-pres-
ent temptatiou to force the values of vacanfc land
above their legitimate capabilities isthe one Single
obstacle to the rapid and consecutive iniprove-
meiit of this district. Experienced persons are of
fche opinion that the prices now being paid for
vacant land in this quarfcer are fuUv- up to the
legitimate capacitj' of the building business, and
they are conceded to be much higher than the
prices which prevaiied in the old building quartor
when it was first opened up.

--------------------♦■«-*--------------------

REAL ESTATE TAXATION.

üisregarding the experience of David A. Wells
and George H. Andrews, those sturdj' Champions
of an exclusively real estate or monobasic taxa¬
tion, whose retirement into private life has here¬
tofore been celebrated, Mr. James A. Briggs now
enters the lists wrapped in the panoply of their
musty ideas, and i roclaims himself to be their
true successor and steadfast follower.

We have looked in vain through the publish¬
ed Synopsis of Mr. Briggs' address, read before
the State Bar Association, to find the slightest
glimmer of a valid or tenable rea.«on for a
fresh advocacy of this mischievous measure.
He invokes as his Single authority an obscure
and forgotten Freuch economist who propound-
ed such a scheme öne hundred and fifty years
ago. At the same time he effeetually establishes
the lameness and impotency of the author's
conclu.<iou when be states tbat none of the
govemments of Europe ever entertained the
proposition, and, in fact, that they bave gteadily