The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-02-12

Tue sale yesterday at the Exchange saesroom OF the
man leases being leasehoids OF valuable building
hats In the Nineteenth ward for long terms with
neyuls upon the basis OF the Sailors Snug Hsrbor
leases was noticeable circumstance estate oper-
atoms this year, such holdings. although common in
Philadelphia, Baltimore and other Cities being Of ex-
ceeding rarity here 9; ALL their appearance in the
market Of stll more unirsquent occurrence Much
interest was felt IN their offer, alike by the
holders OF land curious TO the result OF what
might almost DO considered experiment. as wen as
small traders and thrifty mechanics DESTROYS OF securing
cheap sites FOR buildings to be erected by them out or
their spare capital from the rent OF which ney would
derive an greatly in excess OF that which might
DO expected from any other investment. This manner
Of dsposing Of property, although little likely to DO
hooking rather 10 increase in the value OF the land
for their PROFIT than to It's possible earnings, II put to
pses epialng risk and increased trouble, is Of
great advantage city, applied TO sparsely built To-
caes insuring the erec ION OF houses and as this
hitter is great necessity Now York city, the scarcity
of houses being the OF the present high and
threasned in that regard it is hoped that
property will be brought into market upon the
serns When man purchases lease Of plot of land
at a certain yearly rental besides paving bonus for
the lease he is not likely 10 permit remain an ex
pense upon his hands, but on the contrary, may be
confidently expected 70 make such improvements upon
1t will render il source OF income to him. As the
only improvements permitted 10 be made upon these
los The erection OF first class private dwelling houses
Except on Third avenue, where stores may be put
fronts and beauty that part of the city The
lots announced to be sold about one hundred III
Der OF which over onehaf were disposed or yesterday
and situated West Sixty third, Sixty ourlh and
Eixty-1fth streets and Third Fourth and Lexington
The streets adjacent already well built up
the Nineteenth ward being remarkable in tnat respect
for recent rapid Improvement over any other ward in
tne city, not only In respect TO rs class brick DWELLINGS,
but also tenement houses, factories workshops and
stables, all OF brick or sone as we'll as
chulcnes, sbo Aing rapid increase in the popula-
lion OK the ward, which must, OF course, enhance
the value OF the land comprised in Its boundares with
the exception Of the class OF dwellings first mentioned
OF which $40 commenced aud 257 completed during
The year 1897. can be by reference Mr. Nc
Gregors repor. Nearly all of these buildings put
mp east OF Tnird The several lots offered to
lease by Mr. Beekmap appraised by him At a Ger
tain ground Tentviz $225 each for the lots fronting
Sis,v-rourth street. except the corner ones an.
praised At $500 each For the lots Lex.
,naton avenue, south OF sixty fourth street,
side Of sixyfourth street and the north side
Of the street, east OF Lexington avenue and
appraised as Yellowstone lot on the corner Of
SiStyourth sree' and one the sixty third
tho above $500 EACH This nxed The bids beng
Q bonus 10 DO paid for obtaining more off the
leases. These subject TO and conditions
which, as they are some what unusual we quote:--
The first lease to be for term of twenty years
contain the follow coyenan,s by the tenant pay
aS &c Not 70 assign without written permission
ries &c. use alter the for tenement house
sss o. PUBIC sa sus or amy
years 10 leave cour ard in front a
:I s6sa AnG 20 a a
b s o. the land TO- Pay a. the end Of the
The second lease Of first renewal to Be For term ..
lease The h and seventh BY the
years and 10 contain the same covenants as the second
lease except he covenant ~ he owner The land
shall s ns 4 granted a. DE end e
Be Standing Ps
X 4s ss & e X. and he @ TSf
either pay FOR the house grant renewal Such renewal
as the third lease except the covenant build
The reserved for any Eve per cent on
tho value Of the land and less than the for
py for house and do unt OF the
house aa e made Rent Rent M no the
une until the first OF May 1858.
The above has reference merely to the lots on the
streets and is accompanied by the additional proyso
that all buildings erected Lexington shall be
set back four feet from the line OF tue avenue and
those erected the streets five from OF tho
streets. The leases OF property on Third
sold subject TO the following condllions:-
The first lease 10 be substantially the same as the nrs
fourth sixth aud covenants By The tenant shan Be-
ins house At least three stores n height ae instead Of
subt sly the the second lease OF property
% ahe d sa.e S Or second TO be
Lexington avenue, except that the pay
sSs . sae ha s. o@ ene o. such a term or grant
A new covenant 10 be substituted in place OF the
fourth above referred The lessee
establishing or carrying on or Permitting to be estab
lsbed carried oD any part OF the denlsed prem
iscs brewery. disiiilery, slaughter house, smith
shop forge fuTnaco iron or brass foundry manuactorv
OF non ware planning or saw MILL steam engine, soap,
candle ssrcn varnsh, sitrio gius, ink turpentine
bone factory or bone boiling establishment factory
for tanning, dressing or preparing skins, hides
leather any theatre, opera house other place Of
public am useineni, any establishment In which any
calling occupation shall be carried 10 any wise
poxoas or Offensive TO the neighborng Inhabitants.
According 10 The terms OF sale atty per cont OF tho
Va 4
tho day Of SALE to be returned 10 the pur
chaser on has execution Of the lease or forfeited in the
present al the sale and much interest exh bed in
the conditions contained In the leases
Having answered numerous inquiries put to him by
persons Who had mperfeety understood the clauses
read which caused delay, the auclionesr Adrian
corner Of Third avenue ana sixtyfourth street,
which was purchased by ference Farley for
shc two ad oining ones $500 each. The remaining
1hlrd avenue lots were purchased by 9. W. Keapey at
for the one adjoining and $40 Tor the third. Four
lots The Of these On the south side Of Sixty
third street. we're knocked down to N n Moore sI6o
esch but subsequently, on that gentleman failing TO take
them were purchased by Terence Farley at $50 each
7ho four next adjoining going towards Lexington ave.
Gae, sold TO Mr.. schwartzkopp for 500 each.
Tho Lexington lots sold follows :-Commenc
ing a. The souheas; corner Of sixty nith street. the
-four adjoining, going south, TO John sexton for
ESQ each the two next Mr. Hart for s2s each the a
Joining ohe 10 f. Deviunc for $50 ana the / !, NEXT
completing the block TO Hugh blessing for s105 or the
corner aud $35 other Crossing the street 10 the
side and beginning with the southerly corner or
eixty fourth street. the lot herewas purchased James
Clark Tor sl05, with the sionns ono for $40. Three
others south knocked down to John Thor for
tb each who became the lessee OF FIVE ia rear
fronting sixty fourth street at IS bonus each The
lot the north side OF this street or Lexington
avenue, sold tier, viz the FIRST in the
nue. lots 70 John J. Morrow for $40 the Ben.
sanin J. Richardson for $40, the Two to G. Beaman
for ihe same EACH the hr1e Mr. Mckeon for S25
each the two John Blake for $50 each and The
neat three adjoining icing the remainder Up the rear
OF he Third ssende lots 10 " H. Moore Tor sos oacb
Nine lots on the south side OF Sxy-nfth street were
SOLD % John sexton Al 81 each, which completed the
Besides The above there wero offered for sale a, the
time, from another desk 10 tho Exchanpe room
ny Morris ..k.ns auct0neor, house and lot on the
wefl sos OF ta.t bioadway, being No o. the house-a
three IIoy att and basement brcK store and doiny
twenty-five ieet front by forysIx feet IN depth the
ioi sSty-elgh feet 10 depth, one hair the purchase