Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 1, no. 8: May 9, 1868

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AND BUILDERS' GUIDE. Vol. I.] SATURDAY, MAY 9, 18G8. [No. 8. Edblished Weekly by C.W. SAVEET & CO., R00.M 25 World Bun.nixo, No..37 Park Row. TERMS. Six months, pay.nble in advance.'................. 3 00 PRICE OF .iVDVERTISlNG.. 1 square, ten lines, three months.................$10 00 1 square, single Insertion.......................... 1 00 Speci.ll Notices, per line.......................... 20 Business cards, per month......................... 2 00 Our lists of conveyances are again very large; but after this week they will be con¬ siderably reduced, when we will be enabled to introduce a new feature into the Record of great value to our Real Estate patrons. EAST AND "WEST SIDE ASSOCIATIONS. Our city real estate owners have at last hjtupon a plan to protect their OAvn interests, and at the same time help forward all needful metropolitan improvements. It is by the formation of local organizations, having in view needed sectional improvements, and the correction of existing municipal evils. The first of these associations formed, Avas the West Side Association. This was composed of gentlemen who OAvned property west and north of the Central Park, and -who naturally desired to make the miost of that beautiful section of the city. What really called the organization into existence, was the law pass¬ ed to cut up all that part of the city into rect¬ angular streets, such as obtain betAveen 14:th and 59th streets. This plan, which does well enough, perhaps, on a comparatively level piece of country, would not only have been absurd, but ruinous to a section like the west side, where there were great inequalities of surface. The property owners were organ¬ ized to resist this plan, and they succeeded in time in putting that district under the control of the Central Park Commissioners, and the result is noAv that the Avest side has been laid out in accordance with its topographical peculiarities, and will make in time the most charming locality for residences in the vicin¬ ity of any city upon the globe. Their success has induced the Avcst side OAvners to keep up a permanent organization to add further to the attractiveness and value of their property. Sewerage, opening of streets, paving, and the like, are all attended to; and the unjust extortions and assessments of the local officials are prevented by an or¬ ganization which commands respect if it does not always succeed in its efforts. The happy results derived from the organ¬ ization of the West Side Association, has led to the formation of an East Side Association, also an East River Improvement Association, an account of which will be found in our real estate market. These gentlemen have defi¬ nite and AVOrthy objects in vicAv, and deserve and will no doubt acliieve success. We hope in time to chronicle a North-End Association, a Middle Section Association, and a Down Town Association. Wlien these come iito existence, as they ought to do, New York city will for the first time be on the road to really good government. Heretofore our property OAvners have not acted together; in¬ deed, while the city was growing, and new streets opening every year, property changed hands so rapidly that there was no perma¬ nent holders of the soil. When the Island is built up, and our citizens have local habita¬ tions, more attention will be paid to taxation and other matters directly affecting real es¬ tate. Then we will have a noble system of piers and wharves, steam roads Avhere they are needed, streets parallel with Broadway, a -wise and cheap ferry system, an abolition of overcrowding nuisance in our city cars. In a word, Avith the property holders organized as they should be, we will have good local government. Success, then, to the East and West Side Associations, also to the East River Improvement Association. They are steps in the right direction, and their example should be followed. DEFEAT OF THE ABOADE. The Arcade road failed in the State Senate, and more's the pity. It was an original and splendid scheme, one worthy of the great metropoUs, and which would have beautified our noble city. But the wealthy owners of property upon Broadway defeated it by their nioney. A meeting was held; the funds sub¬ scribed and the senatorial cattle were pur¬ chased. Instead of blaming these poor creatures, why is not public indignation rather directed against those rich merchants who tempt these weak and corrupt legislators ? It is idle to talk of any road really being of use to the metropolis which does not use the line of Broadway. That is the backbone of j the city; along its pavements flow the tide of j travel up and down the city. To accommo- j date the people the steam road which Avill give relief will be under Broadway; and we have yet a lively hope that it will not be a noisome tunnel road, but a liglit, airy, and cleanly arcade, such as that which has just been defeated by the money of the Broadway property holders. BEDTIOTION IN BENTS. There is no disputing the fact that there are more vacant hoaxes in New York than there Avere before the first of May. Some¬ how or someAvhere a portion of our popula¬ tion have disappeared. True, summer ia coming on, and the birds of passage have taken flight to their rural haunts, but this cause will not account for all the vacant houses, especially the vacant furnished houses. The fact is rents have come down some, and Avill probably come down more. The losses in business for the last two years have told upon the means of our citizens, and they cannot pay the paper money Avar prices. jThe reduction is not pleasant to landlords, but it is wholesome. The New York ITerald, last Sunday, cop¬ ied our building material report without giv¬ ing us any credit. This shows neither enter¬ prise nor honesty. The Tribune likewise "appropriated" another idea of ours. We gave a short time since the sales for the year. These the Tribune copied, adding the sales for the month of April. Go ahead, neigh¬ bors ; take all you want, only be honest and give us credit. FEBSONAL. Mantok Marble, the noted editor of the World, has been buying him a piece of pro¬ perty on the Kingsbridge road, near 135th street. It is 50 x 180, and cost him $11,000. This property is wisely selected, but the price seems high for the amount of land secured. However this northwest side of the city is destined in time to be the most costly pro¬ perty for private residences upon the globe. Land in Paris—The comparative value of ground in different countries and different lo¬ calities is always a subject of interest. Li a general Avay, " feet front" on Oxford street or the Strand in London, will sell for twice aa much as in Broadway or on the Boulevards, The most valuable comer lot in Paris has just been confiscated to tbe ogre, ''public utility; " the costliest block of buildings in the whole city has been given over to the hands of the de- molishers, to make way for new streets, and we are thus let into the secret of what a jury of honest citizens consider the value of this most valuable of Paris property. The figures I am going to give you are as¬ tounding'. M. Didier. deputy in the corps legis- latif, who was put into a madhouse the other day on account of thi.s business, was awarded by the jurythe sum of 2.300,000 francs, say$4o0,r 000 in gold, for the comer house and lot on the Rue de la Paix and the boulevard occupied by Tahan, vender of bronzes an small objects of art. The lot is of an irregular form, because the Rue de la Paix enters the boulevard at an