Source:Highest-pittsburg-valuations
"The highest Pittsburg valuations: Data and a diagram indicating how the rich down town property will be assessed—an aim to make the system equitable, from $3,500 a foot down." Pittsburg Dispatch, Jan. 7, 1889, p. 8. Newspapers.com 76224759.
One of the most vital and interesting questions connected with the city's pending triennial assessment now confronts the officials. Moreover they have already taken quite a long step toward furnishing a fair, frank and open answer to it. the question is: What rates of valuation ought to be applied to the most valuable of the downtown business property in the very heart of the city.
The Board of Assessors has at last compiled its list for preliminary calculation upon this most valuable property in the city, viz: the blocks fronting on Fifth avenue, bounded by Smithfield and Market streets and Virgin and Diamond alleys. The Chief Clerk of the office, Samuel M. Clark, has compiled such a statement of the approximate figures for several varying depths of the different properties. This calculation was computed upon the general estimates of the board as to "through and half depths" under the old rule of making assessments. The figures given below are only approximate calculations, it should be remembered, and are not yet official. They are given with the view of obtaining opinions from the newspapers and those interested as citizens and taxpayers.
The board has endeavored to comply with the law in treating these properties by ascertaining the cash value of the property according to the latest sales in the immediate vicinity. For instance the Maltby Hall property on Fifth avenue was sold about ten days ago to Mr. N. P. Reed for $102,500. The property adjoining was based upon this sale.
These valuations, however, are upon the ground only. The improvements in the way of buildings, etc., did not enter into the calculations, as they are itemized separately when the assessments are made. Here are
| Fifth avenue. | |
|---|---|
| 240 feet depth, either side | $3,500 |
| 120 feet depth, either side | 2,850 |
| 100 feet depth, either side | 2,500 |
| 90 feet depth, either side | 2,300 |
| 60 feet depth, either side | 2,000 |
| Smithfield street, between Fifth and Diamond. | |
| 60 feet depth | $1,500 |
| 120 feet depth | 2,800 |
| Wood street, between Fifth avenue and Virgin alley. | |
| 50 feet depth, both sides | $1,250 |
| 60 feet depth, both sides | 1,250 |
| 80 feet depth, both sides | 1,500 |
| Market street, between Fifth avenue and Liberty. | |
| 80 feet depth | $2,150 |
| 67 feet depth | 2,050 |
| 143 feet depth | 2,600 |
| Market street, between Fifth and Liberty. | |
| 80 feet depth | $2,150 |
| 67 feet depth | 2,050 |
| 143 feet depth | 2,600 |
| Market, Between Diamond and Fifth Avenue. | |
| 101 feet deep | $2,300 |
| 47½ feet deep | 1,470 |
| Fifth Avenue, Between Smithfield and Cherry Alley. | |
| 110 feet deep, either side | $1,325 |
| 120 feet deep, either side | 1,350 |
| Fifth Avenue, From Cherry to Grant. | |
| 100 feet deep | $1,150 |
| 110 feet deep | 1,250 |
The board proposes to place assessments upon the Diamond alley and Virgin alley fronts by comparison with the through depths. For instance, if the through depths are assessed at $3,500 and 120 feet, or one-half at $2,850, then the 120 feet fronting on the alley will be the difference, $650.
The whole subject is made much clearer by the accompanying diagram, which may be examined in detail by those having an interest in the subject.
Let the reader who is familiar with the heart of the city, in looking upon the diagram printed herewith, imagine himself standing upon the upper or eastern side of Smithfield street. Upon the right the drawing shows him the Government and the city property not assessable, and upon the left he has the outlines of the Howard block. Down Fifth avenue Husseys' and The Dispatch's iron front buildings, as well as the new and elegant structures of Schmidt & Friday and Samuel Hamilton, all of which occupy or are seated upon "through depth" lots, that is, lots running through to Virgin alley. Then comes the familiar Masonic Hall lots, running the half of the square. Other through and short depths, including the Penny Press location, will then be recognized. Upon the left from Smithfield street we see the Morton lots—half depth—where the Times is located, and the Coleman property (the Opera House), built by the Odd Fellows order and for a time used by them. The diagram is deficient here in not showing some of the lots of the Coleman estate as through depths. Following these we have the lines of two apparently insignificant pieces, but yet how valuable!
The Adams Express and the Maltby lots show next, the latter but recently purchased by Mr. N. P. Reed at a figure stated to be over $100,000. Next we have the site of the "Old Drury" Theater, upon part of which the Gazette is located. This block is part of the large estate of William Carr, Esq., but recently deceased.
we have upon the right the most beautiful iron building in the city—that of the First National Bank. Back of it, and indeed on both sides of Fifth avenue, will be seen upon the map alleys almost opposite one another, and yet of different names and different widths. It is doubtful whether the nomenclature of these two little passages is familiar to the general reader even though he may know that such apertures exist. Book alley is not mentionable as being memorable in any way, and the naming of it is only to be conjectured in that the Post printing office stood in place of the bank for many years. Sturgeon alley is familiar to those bibulously inclined for Charley Spencer's gilded saloon and ante and upper rooms. It was for a long time a favorite resort because, not only of its elegant furnishment and supplies of "the best the market affords," but for the fact that gentlemen could drop in there from the most prominent thoroughfare of the city with little if any observation. Judge Ewing squelched the place on the first heat under the Brooks law.
Further down, the iron bank block containing the Allegheny National and the Central banks front the elegant Exchange Bank buildings upon the other side.
It will be noticed that land upon these opposite squares is cut up into odd shapes, which must render the matter of assessing equitably very difficult. The McClintock property on the right runs through and they hold to it the tail of an L. Kings alley next them is comparatively unknown, and is indeed a private alley for the convenience of abuttors thereon. Whether or not this and other private "thoroughfares" are assessed is not known.
James Phelan has an elegant square (lot) about opposite this, but has no rear opening. About this locality years ago there stood a hostelry, which will be remembered by older citizens as one of the more prominent stopping places (as was also Hares' Hotel,) for the country folk attending market. It was called the Iron City Hotel, and no doubt offered yard room for the Conestoga wagon as well as "accommodations for man and beast."
No prominence can be given the Virgin alley front further than that it has been dubbed by reporters as "tin-pot" alley. Diamond alley, now dignified in its appellation, has always heretofore been known for its saloon and gambling houses. Bihlman's restaurant has always been visited by the best people, while Captain Gallisath and his anniversary are not unknown. The Brooks enactment has been fatal to property owners on this thoroughfare.
