Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: [v. 89, no. 2294]: March 2, 1912

Text version:

J.U11^ .^ MARCH 2, 1912 A TUNNEL STREET AND ITS EFFECT ON REALTY. The Broadway Valley Near 191st Street Will Be Made Available for Apartments—An Extension Planned Under Fort Washington Avenue. AJIONG other e.\tensive municipal ini- pj-ovenients the City has recently en¬ gaged in the latest phase of underground construction designed to furnish better transportation facilities to a now neglect¬ ed district. Heretofore s-ubways have been constructed entirely for the use of rail¬ way trains but the latest project is a sub¬ surface street for pedestrians only, and is to be found at the northernmost end of ■Washington Heights. The Interborough subway at the lOlst street station finds itself .under the crest of a hill, the surface of which is some 185 feet above the level of the tracks. In order to make the station available, two large high-speed elevators are em¬ ployed and passengers are landed at the surface on St. Nicholas avenue. Im'me- diately west 'Of this avenue there is an abrupt declivity about one Quarter of a mile in length, terminating in a valley through which runs Broadway. A short distance west of Broadway the land again rises sharply to the top of a ridge known as Fort "Washington Heights. the elevator service is the principal obsta¬ cle now in the way, but some agreement may be reached between the Board of Estimate and the property owners, and it is expected that definite action will soon be taken. Work on the section be¬ tween Broadway and the subway station is progressing rapidly; the contractors are at 'present up to scheduled time and ex¬ pect to have the new street ready for use by -September 1st of this year. The importance of these two tunnels to property in the Broadway Valley and on Por.t Washington Heights can readily be understood. From ISTth to l'.)'2d street on either side of Broadway there exists today but one structure of any kind, this an elevator apartment house built some years ago. Mucli of tlie property front¬ ing on Broadway and having a depth of from 100 to 300 feet is available for im¬ provement and remains in a vacant state only by reason of its present inaccessi¬ bility. The one apartment house above mentioned is almost directly opposite the tunnei, but has never been able to obtain pert, the brewer, and the price paid, it is understood, was about $35,000. The entrance to the tunnel will be on a cor¬ ner of this property and the puix^hase carried with it some award from the City, which would bring the net price down to about $10,000 a lot. The buyer intends, it is said, to erect an apartment house with a cafe on the ground floor. Just north of Fairview avenue is a considerable stretch of well-lying prop¬ erty which is for sale at about $10,000 a lot. These prices are not at all prohibi¬ tive for apartment house construction, and in fact when one considers how easily the subway may be reached by the tun¬ nel, they should appeal strongly to build¬ ers. At present the avenues and side streets between Wadsworth and Amster¬ dam avenues are almost solidly built up with apartment houses as far north as 186th street, and the residents must use the ISlst street station of the subway and experience considerable delay and incon¬ venience by reason- of the crowded ele¬ vators at that station. Residents on - ' , :l 1 .1-1 >,r-:3^ri^^^^ 111 Li^^M^^^^^^H VIEW OF BROADWAY AXD FORT WASIII.N'GTOX RIDGE. FAIRVIEW AV. AXD THE TUNNEL ENTRANCE. Fairview avenue, a winding road, leads down from St. Nicholas avenue to Broad¬ way and affords the only means of access to the subway for those living in the Broadway valley. This road is too long and too steep to be imuoh used, and in order to obviate the necessity for this climb the City is building a tunnel street through the hil! from Broadway to the 191st street station. The tunnel will enter the station at the foot of the elevator shaft and travelers to the subway will be able to reach the train platforms without climbing stairs or using an elevator. The work comprises about 92o feet of street, 740 feet of which is to be under the hill and the balance a roofed-over cut extending to Broadway, where a kiosk similar to those used at subway stations will be located; travellers will descend about eight feet at Broadway. The street is to be 12 feet in width with an arched roof 12 feet high and will be well lighted by electricity. The tunnel will have a slight grade not much over 1 per cent., the total difference in levels being only d¥i feet. It is also proposed to continue the street on grade across Broadway and Bennett avenue and tunnel through the western hill to a point directly beneath Fort Wash¬ ington avenue. Elevators would be furn¬ ished here to carry travellers to the sur¬ face of,the avenue, which at this .point is about the highest spot on JIanliattan Island. Plans for this extension are now being considered by the Board of Esti¬ mate and the matter is being strongly urged- by surrounding property owners. The question as to who shall maintain many tenants, notwithstanding the fact tiiat rents arc much lower than in almost any other elevator apartment on Wasli¬ ington Heiglits. It is true that on the west side of Broadway some of the property lies con- sidei-ably below grade and the bottom is soft, but the greater part of it could be used. Bennett avenue, a street recently cut through, lies about 200 feet west of and parallel to Broadway and most of the Broadway lots run through and front on Bennett avenue. The hill rises steepl.v from Bennett avenue and very little land on the west side of this street could be used for building. Being so close to tlie hill this avenue is not nearly so desirable as Broadway, and lots fronting on Ben¬ nett avenue are worth only from $5,000 to $7,000 each. Another disadvantage is that very few of the cross streets are cut through west of Broadway and the City will not authorize the extension of any others unless the property owners share eciually with the City in the expense. It is likely, therefore, that Broadway will benefit the most by reason of the tunnel street and it is confidently expected that considerable apartment house building will take place within a radius of flve or six blocks either way from the new street. Property on the west side of Broadway, where the bottom is good, is held at from .^12,000 to $15,000 a lot. but a fair esti¬ mate of present value is probably about $10,000. On the east side, south of the tunnel, the hill rises rather steeply, but lots about IOO feet deep are available. The corner of Broadway and Fairview avenue was recently acquired by Colonel Rup- Bruadway near the tunnel street could as Quickly reach the station at 191st street as their neighbors on the hill can get to ISlst street, and they will enjoy Ihe double advantage of being under cover for the entire walk and avoiding the use of elevators. The extreme southerly end of the Dyck¬ man section around Broadway, is very little improved but contains a considerable amount of property desirable in many wai's for residential purposes. At pres'- ent it is accessible only from the Dyck¬ man street station of the subway, and the length of the walk to this station has deterred builders from attempting to con¬ struct apartment houses. The new street will afford easy access to this territory and it, no doubt, will influence consider¬ able building. The most logical form of improvement for Broadway would seem to be five story walk-up houses, with pos¬ sibly some six story elevator apartments near the entrance to the tunnel street. The district offers many attractions to those who desire to live practically in the country and yet be on the line of the sub¬ wav and enjoy the conveniences of apart¬ ment house life. The air is excellent, the surrounding hills offer attractive scenery and there are beautiful walks to be had in all directions. The upper portion of the island seems to appeal strongly to many who come from suburban towns. In the center of the Dyckman section, near the 207th street station, a number of apartment houses have recently sprung up and the owners state that a large pro¬ portion of their tenants come from north¬ ern l^ew Jersey or Westchester .County.