Columbia University Libraries Digital Collections: The Real Estate Record

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zio6 Kecord and Uuide June 25, i8g8. street to Kingsbridge Village, which avenues form part of the route of the proposed extension of the Third Avenue Railroad Company's system. The legality of the franchise covering the route in question was then opposed before the courts, pre¬ sumably at the instance of the iVletropolitan Traction Company, now the Metropolitan Street Railway Company, with the result that both the speculative builder and, to a less extent, the pro- fesslonai operator In vacant property were holding themselvea aloof from the Boulevard and Kingsbridge road, although some building activity was noted in the side streets. This activity, however, was no doubt fully explained by the existing transit facilities in Amsterdam avenue. The Third Avenue Company's franchise has since been declared invalid. But, on the other hand, an agreement has been reached with the Metropolitan Street Railway Company which leaves the Third Avenue Com¬ pany free to obtain a new franchise without fear of competition from its powerful rival. At the present time the work on the extension, including the construction of a power house, begun under the old franchise, has come to a complete standstill. Presi¬ dent Elias, of the Third Avenue Company, states that it is the intention to apply for a new franchise as soon as the Common Council has determined on a form of procedure in cases of this description, and that the charter being obtained, the construction of the extension will be pushed with the utmost vigor. In the meantime the essential matter of interest to property-owners is the agreement between the two companies. Inquiry among real estate men discloses the fact that the agreement has had no appreciable affect of values. In fact, one well-known expert on Washington Height values intimated to our representative that values are already so high—have, indeed, been so since the extension was flrst heralded—that no room for proflt is left to the speculative builder and the building loan operator in the present conditioii of transit facilities. The effect of the agreement Is further offset by the general conviction that, as the Third Avenue Company is now pretty sure of the franchise, it will be in no hurry to build the extension, which is expected to prove unprofitable, until the territory which it commands is more thickly settled. It is gen¬ erally agreed that the actual construction of the extension would cause values, though high for present conditions, to rise, and to inaugurate an extensive building movement, particularly on the Dyckman Flats, which lie beyond the flre limits. A syndicate who have been extensive purchasers in the past year have an¬ nounced their readiness to improve some 200 lots in this tract with frame houses as soon as improved transit facilities are provided. Both chambers of the Municipal Assembly have now under consideration a draft ordinance providing a form under which applications can be made for franchises for street rail¬ roads, and as soon as this is discussed and put into satisfactory shape It will be passed and the Third Avenue Railroad Company given an opportunity to make good their word. But it will be seen that the conditions render it very unlikely that work on the extension could be begun this year, let the company be ever so willing to begin It. of the present magniflcent structure in which they are housed. The location of the stand is on the north side of the rotunda. It is handsomely finished in mahogany and presents a very attrac¬ tive appearance. Messrs. McBride & Son will undoubtedly con¬ tinue to meet with the well-deserved success that has fallen to their share in the past. WHILE there is a difference of opinion as to the con¬ venience and value to architects and builders in the Bronx of the Department of Buildings' branch office at Third and Courtlandt avenues, the preponderance of the affirmative view is so great that it ought to rule. The Department proposes to abolish this branch office, and the announcement of that fact has brought forth a protest and petition that it be retained, signed by some hundreds of architects and builders and others interested. A moment's thought will show that a hundred or more signatures on a document relating to a matter of this kind makes a strong representation; and, if as we are informed, it has appended to it between flve and six hundred, it contains practi¬ cally the unanimous views of building interests beyond the Har¬ lem, and ought to be respected. It is claimed and charged that the branch office only needs to be in charge of competent help to be a success and if It is not a success it is because it is in the hands of incompetent people. Whatever the practical aspects of the question may be, though architects and builders are ac¬ quainted with these as well as any people can be, sympathy will be extended to any body of men who have to contemplate the necessity of spending half a day in traveling to and fro, es¬ pecially in the busy season, whenever they have business with the Department, instead of doing it as they now can do near the scenes of their labors. OBITUARY. S. VAN RENSSELAER CRUGBR. The death of Col. Stephen Van Rensselaer Cruger removes a prominent figure from the realty business of this city, with which he has been connected since 1867. He founded the flrm of S. V. R. Cruger & Co., which comparatively recently hecame S. V. R. Cruger & McVickar. He was a member of the first Board of Di¬ rectors of the Real Estate Exchange, elected in 18S3, and one of the Committee of Seven, appointed to choose a site and arrange for the building which was opened in 1SS5. As controller of the Trinity corporation, he managed the immense estate of that body with great success. By all with whom he came in contact he waa respected and liked for his dignity, courtesy and kindliness of dis¬ position, and his death will he widely and sincerely regretted. Col, Cruger was born in this city in 1844, and came from an old New York family. He received his education In Europe, where he remained until the breaking out of the Civil War. He then hastened home to enter the service of his country, and, although but seventeen years old, was commissioned a lieutenant in the 150th New Tork Volunteers. At the close of the war he was bre- vetted lieutenant-colonel for gallant service. Mayor Strong ap¬ pointed him a member of the Park Board, of which he was Pres¬ ident for a year, but resigned, owing to the pressure of other du¬ ties, remaining, however, a member of the board until the change occurred in the administration. He was also a director in sev¬ eral great corporations. Preparations are being made for formal action to testify to the respect of his business associates for his person and abilities. THE ARCADE NEWS ROOMS. Thomas J. McBride & Sons opened the Arcade News Rooms, Its new quarters. In the Empire Building, No. 71 Broadway, on Wed¬ nesday. June 22d. Messrs. McBride & Son, have been well known to New Yorkers for twenty years, during which they had the news stand in the arcade of the building that stood upon the site BUILDING STATISTICS. The Department of Buildings has issued its first quarterly re¬ port under the new charter, and, as the figures it contains relate in details to Lhe enlarged city, no comparison can be made with previous quarters. It need not be staled ihat this deprives the report of its chief value to the public. It is, of course, interesting lo know how much work lhe Department had to do, but it would be much more interesting to know—and useful, also—how the volume of work in the Department compared with what had been done in other periods similar to the one treated. It is a common fault of departmental reports that their object is to make a show¬ ing for lhe department, and that they overlook their proper purpose of conveying as much practical information as possible to the public. It will be an advantage If in lhe future the De¬ partment will give their flgures in the principal tables for the several boroughs separately, and, where possible, accompanied by the figures for the corresponding periods of the previous year. The publication of the report nearer the date of preparation would be another advantage. The sooner these reports are pub¬ lished the greater their practical value to realty interests and the building trade. For instance, the report under review appears only when nearly three months have elapsed since the close of the period of which it treats; as a consequence of the loss of time, the information it contains has only a small practical value. The flg¬ ures worthy of attention and consideration will be found in the fol¬ lowing tables: PLANS AND SPECIFICATIONS FOR NEW BUILDINGS PILED AND ACTED UPON DURING THE QUARTER ENDING MARCH 31, 1898. ]-----No. of-----1 Classification. Build- Estimated Plans. ings. cost. Estimated cosl: Dwelling houses, over $50,000............... 1 1 $100,000 Dwelling houses, between *20,00l>lo 350,000.. 11 34 82S,00O Dwelling houses, less than $20.000........... 67 270 1,793.,^00 Flat houses, over $15.000................... 201 377 11.528,900 Tenement houses, less than $15,000......... 77 171 l,194,9t;0 Stores, over $30,000........................ 14 18 l,270,5ti0 Stores, between $15,000 and $30.000......... 7 7 lti4,000 Stores, less than $lo,000.................... 25 31 128,100 Hotels and boarding houses................... 6 7 867,000 Office buildings .............................. 12 15 1,100,800 Manufactories and workshops.................. 48 52 887,868 School houses................................ 4 4 8iiT,000 Churches ................................... 6 6 TT,000 Public buildings—municipal ................... 5 5 1,■196,000 Public buildings—places of amusement, etc..... 8 8 354,000 Stables ..................................... 25 28 245.675 Frame dwellings............................. 356 504 1.628,350 Frame lenemenls and other frame structures----- 262 311 615,833 Totals ................................... 1,135 1,909 $25,414,486 Location. Boroughs of Manhattan and The Sronx......... n56 946 $21,495,430 Borough of Brooklyn ......................... 533 911 3-™'9™ Borough ot Richmond......................... 34 36 "S'g Borough ol Queena.......,.................. 12 16 45,600 Totals ................................... 1.135 1,909 $25,414,486 COMPARATIVE SUMMARY FOR FIRST THREE MONTHS, 1897 AND 1898. Plans I-------Buildlngst-------1 Boroughs I—filed,'—, Commenced. CompIeieS, 1897. 1898. 1897. 1S98. 1897. 1898. .Manhattan and The Bronx '........2.004 2,ffil 651 586 565 624 Brooklyn........................1.623 1.740 .. 811 514 678 Queens and Richmond............... '8 ,. .. -• •• •Include plans for alterations. jDo not Include aiteraiions.