Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 24, no. 601: September 20, 1879

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Real Estate Record AND BUILDERS' GUIDE. Vol. XXiV. NEW YOilK, BATUliDAY, iSEPTEMiiEU 2U, 1879. No. GOl. Published Weekly by W>\n %titd €statc Eecor^ ^^ssanaimit. TERMS. OWE YEAR, in advance....SIO.OO. Communications should be addressed to C. XV. SWEET, Nos. Sib AND li47 Bkoadw.w ABOUT THE RE.JlL ESTATE RECORD. It is now certain that Ibe next si.x or seven years will see an activity in real K^tate. not only in this city, Iiut all over the country, such as has not been known since 1S:17. The census of next year will give ns a iiopulation of over lift}' millions, nnd the facts brought out bj* the enumer¬ ation will inako it evident Hint tho next decade will show a pbenoiniiKil increase in the number of inhabitants of the United States. This addi¬ tion to our population will manifest itself more particularly in the groat nianufncturing and commercial centres, and the great foi tunes made out of real estate will be from investniDiils in tbe neigbborliood.s of now large and still growing cities. AVbi:epn3'ing more attention tban ever to our local markets, it is the intention of tho proprietors of The Real Estate Rkcoud to give tbe paper a greater .scope than it has had heretofore. AA'^e propose to make it tbo organ of the real estate interest of the wdiole counlry. It is our intention to ninke it an indispensable necessity for archi¬ tects, real estuto agents, builders, luniber mer¬ cbanls, and dealers in all building material throughout tho United States. The gigantic scbemes now incubating for organized coloniza¬ tion from Europe require a proper medium and expoueiit ill this citj', and this field Thk Real Estate Recokd proposes to liil to the best of its ability. A lilo of the IlEcnni) will bo found hereafter at every important consular ofilce in Europe. AA'lien the inoprietor of The Recoud was abroad last year be found that tbe Ameri¬ can consuls were being applied to by emigrants for information respecting the be.';t locations for settlement in tbis country. Ho found that even then plans were on foot to send organized colonies to settle on different portions of the soil of the United States. Tbo inquiries were directed mainly, though not exclusively, to points north¬ west of tbe IVIississippi River and .southwest of the Missouri. Hereafter the consuls can refer their inquirers to tbe oflice of Tiis Real Estate Record for tbe names of real estate agents throughout tbe country who have tbe latest and most complete iiiforniatioii respecting choice lands iu the trans-Missi.s.sippi region. In this connection we have opened a directory of real estate dealers Northwest, AVest and Southwest. We confine these announcements to one, from eacb city or section. We have been making in¬ quiries for some time past for the most trust¬ worthy real estate agents in all tho A\''estern towns and cities, and wo do not propose to allow any names in our Directory which are not of the highest repute in their respective neighborhood, nor do we propose to give more than one name for each locality. We expect, moreover, to form and indeed are forming business relations with the promoters and organizers of colonies iu Europe and in this country. Agents who have ■valuable land for sale, as well as railroads with unused land grant.s, will do well to comnuinicato with thi.s oiiice, as we sell nolbing ourselves but only tn'oposc to bring Ibo agei.t and investor together. Our local patrons need not be afraid Ibat this new feature will involve any clinngo in the excellence of Ihe various dcparlnienls of The Reciird. Tbis was the lirst paper to publish llie ollicial transfers of real esluto, the mortgage.^, and tbe jiidginonl.s. Our sulwcribens by this time know what pains have bt en taken to make the iiiforniation full, iiccuratc, and reliable in all re.*pec's. Our luniber and building material re¬ ports will be, if possible, more complete than ever. Hereafter, it is our intention, in connec¬ tion with Iho odli'ial prices of real estate, to give tbo previous ollicial price at which tho property was sold; that is lo say, in giving the prices en¬ tered for la.st week, we will also give llie previous sale of the same iiroperty, if anj^ has occurred within say five or six j-ear.s' time. This will bo of unusuiil interest to local real estate dealers, as it will show the Ibictuations in the price of prop- ort}' and will have a tendency to correct tbe too comnion habit of making false and exce.«sive statements of the jirices of tbo sale of realty. We have other iinprovoments iu contemplation which will be announceil in due time. THE NEW FASHIONABLE QUARTER. It is a matter of a good deal of importance to real e.statc dealers to know where the "West End" of New York is to bo located. Tliafc is to say, where will tho millionaires of the next twenty years liU\' in order tobuihl their lionies ' For tbe present the fashiomibic ipiartor is Fifth and Madisiiii avenues, and tbe better cla.ss of bouses arc still being built uptm thi.s central zone of New- York Island. Tho most cosily houses now under way are to l.'o found east of the Central I";irk, liut a visit to tliat region, wdiere building aclivity is griatest, will convince anyone that tlie.se new houses fl5 not rejircsciit the coiuing era of pros- •perity, bnt rather that which is passing uwa}-. The new buildings aro mainly of the browii stone front variet}-, such as cliaraclerized tbe iiio.st de¬ sirable bou.sos erected during the last quarter of a century. The bii ge roomy brick building maj- bo .said to represent the (uuiiibus era of New Y'ork city; the brown stone front is typical of tho horse-car era, but tbis rapid traii.^it era will uii- (picirtioiiably develop a higher order of domestic architecture, and on a more extensive scale than anything which has'preceded it. With cheaper land and n wider choice, due to rapid transit facilities, the future millionairo will indulge in the luxury of fine grounds as well ns costly house.s. There is no longer any nocessitj- for being tied up to twcntj-'five or even fifty feet front. Quarter acivs, half acres, naj', one, two, three acres are now available for citj" residences, and once the fashion is established, the west side, from Soveiity-soconcI street up to Yonkers, will be filled with beautiful and costlj- residences, em¬ bowered in trees, and surroiiiuled by gardens and grounds. There will also be some effort at indi- vidualitj'. AVe have repeatedly pointed out the desirability of artistic novelty in architecture. Last week we gave an account of three houses in Seventry-fiist street, near Lexington avenue, which found ready sale because of their tasteful- iie.ss in architecture and design. Dr. Buiusteed's bouse in Thirty-eighth street, near Jfadi.son avenue; the charming brick and stone structuro in Thirty-fourth street, near Fourth avenue; ilrs. Steven's house, on Fifth avenue, and the ornate dwelling at the corner of Park avenue and Thirt}--niutli street, would all of tbem sell at much higher figures than houses built in the ordinarj^ '^'>iiy, siinplj' because of the fine artistic sense which presided over their coiustriiction. A\'e are pleased to see that in the new apartment hou-ses architects have been allowed great liberty of design b>- tbe capitalists w bo have emploj-ed them. A very fine specimen of Ibis class is the new apartmant palace (wo use this phrase ile- signedlj) attho corner of Broadwaj-and Fiftj- third .street. Combinations of brick and stone admit of very tasleftil contrasts, and .some of tbo structures erected of these materials are veiy creditable to their architects and designers. AVo are ipiite willing to admit th.-ft for the next five j-cars tbe principal residences erected tvill be on tho ceiitiul zone east of the Central Park, and will be mainly brown stone front hou.ses, siK-b as have come down to us from tbe horse car era, but the first-class resiliences of tho fuiure will not be of browii stone, and tho newly made rich men will, we judge, seek fi-r and establish a fashionable quarter for the metropolis west and northwest of the Central Park, INFLATION. There is now a real danger that we are on the eve of a jierilous iiillation of prices. This inonlh will see twenty-five millions of gold and silver ar¬ rive ll' re from Europe. The national banks are is-uiiig currency rapidlj'. The NewYork institu¬ tions which have been surrendering Iheir circula¬ tion aro now calling fur it again: W'nil street is clamoring for the silver certificates; new banks are starting in the iliddle ami Eastern States; tbe silver dtdlars arc beginning to puur out of tlie United States Treasiirj-, while the gold eagles and double eagles will, in time, be whirled along in the great flood of currency which is pouring throtigli all the channels of trade. The Secretarj- oi the Trcasurj' cannot in anj- waj' check an over-activitj- of the currencj". He is prohibited bj- law from redii