The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-10-26
RUS IN uRBE.
Great Sale Of Washington Heights Property
Twsnty-ons Acres for $3.50, 0O0-signs Of
the Times in the Real Estate Market


REASONS
inc real estate market yesterday enjoyed a fea
ture, Q rare circumstance in these days Of stauna
ton, but one indicating revival OF activity In the
speculative INTEREST IN real estate. well az an i'm
provement In the investment demand for New Yorh
property. The occasion, however, was speclaI
In many respects. The property offered for
sale is situated In o locality that has for
long time past been reserved from
the leyelng influence OF an auction sale
and Is OF the quality OF preferred even
in that section. The site IN question
Is Washington Heights about which something has
been said before here which comprises the region
on the side OF the island north OF l55th street.
and enclosed between the Harlem ana Hudson rivers
and Spuyten Duyvil creek. The particular location
Of the property sold is at the crest OF that grand
ridge which, extending from Carmansvle north to
Inwood. is adorned along its summit with some Of
the most noble mansions OF our citizen arlstocracy.
RESULTS.
The sale comprised twenty-0ne ana one-tenth
acres, bounded by Broadway ON the east and the
Hudson River Railroad on the west 1t has been
divided and laid ont by william Rumble. Surveyor
to the Central Park Commissioners, into seven.
teen villa plots and nyfour city lots rs represented
on map OF the property, the villa plots being
designated by the letters A to q, inclusive. Each
plot commands magnificent view or tine Hudson
river and the plots the easterly SIDE also COM
mand view OF the beautiful valley drained by the
The six westermost plots front on the River
Boulevard which Is now nearly completed up to
156th street, and which, it is expected, will be very
soon worked through and beyond this land.
Twenty-one OF the city lots front on Broadway.
and the remainder front new street about to be
laid out by the city. The lines OF this street have
not yet been legally established. but have been care
badly run. These 1fty-four lots are oil OF easy
grades, requiring little alteration, and are bounded
on the west by steep, wooded decyity the foot o.
Inch cor W n
plots.
OF the purchase money to remain ON mortgage.
The entire property was disposed OF at an aggre-
gate amount Of s356o26, being an average OF sl6s7a
per acre,
The attendance In the Exchange salesr00m during
the sale was unusually great for this year. and re-
called in degree the appearance OF the room FOR q
few months anterior to the collapse In the market In
March, 1858: The circumstance OF property Of this
description being offered for sale excited very lively
and many wall street lights Withdrew their EMU.
gence from "he street." Technically so called. and
abandoned their observation OF the stock, telegraph
and gold dial 70 watch It's progress. Tne real
rsa
mcntS-were present in force. Among others were
ssss q Ps.K hT SAMUEL q knap Van oS.
steam. B. F. Farchild, j. d Leylness representing
=. Il. Ludlow a Co.; Townsend Connolly, CITY Cham
Bacon +. H. Cosslt John d. Phillips r. A. WitthauA
and A. B. Liscomb. Bidding was prompt and spir-
to point Of activity throughout the sale that fully
taxed even his experiences.
AN INCIDENT
The interest In the sale was particularly called OUT
upon the offer OF the Broadway lots The most
vatea than those lying to the SOUTH the subJeci
OF anxious expectation when they would be reached.
and lively competition was expected in respect
to their purchase. The lower lots were sold
first, with the privilege" az two, four six lots
When the more elevated ground was reached In pro-
gress OF the sale the auctioneer announced that he
would extend such privilege further BY allowing
purchasers to take as many as they chose Among
manner identified with real estate operations In
section OF the city and possess the best information
concerning values here, to whom was Knocked down
the first Of these lots at $1,075, and who excited
great surprise by awaiting themselves OF the PRIV
lege afforded them to take the whole Of the balance
OF these lots at the same price, In explanation Of
this II must be understood that the previous sales
were confined to two or at most four lots, ana
not thought likely that any greater number would
be taken by one purchaser. Messrs. Potter, APP
parently approaching the advantage OF purchasing
land being 80 much more valuable when bought IN :
parcel; saw IN TINS an opportunity Of profit
slow to avail themselves. To those disap-
pointed II can only be said. "better luck
laid out the sales map, contains so, 900 square
feet or twentyfour lots OF 25xl00. having frontage
OF 200 feet on Broadway and the same on the new
from the Broadway front OF an average depth OF
hfty-six feet in connection with the widening OF
Broadway-tne present kingsbrldge road. Thd
whole cost OF the plot was only 1920.
INFERENCEs.
The success or this sale shows two things
interesting to property owners on the island. In
the first place 1t establishes again, as has been
insisted upon by the HERALD under all circum-
stances, that real property Manhattan
Island IS steadily appreciative. No matter what
incidental influences may affect the market what
depreciattng causes are operated In special lOca-
ties, first class property IN New York, or at least
Improved property, can always be sold ut adj
vance upon Its previous purchase where ordinary
Judgment has been exercised in the first investment.
exceptional instances to the contrary notwthstand
ing, In regard TO the property more Immediately
affected by this sale 1t shows that located in the
an advantage over those further removed from
those direct lines OF travel, and rate correspond
lngly higher in the market Thus, in the sale yes
terday, lots situated on the Boulevard sold higher
than other lots OF greater elevation and enjoying
the advantage OF superior views.
PARTICULARS.
The following are the particulars OF the SALE con-
tanning the prices and dimensions or each parcel
sold, and the names OF the purchasers. The map
spoken OF Is the map Of the property furnished by
the auctioneers:--
WASHINGTON HEIGHTS PROPERTY ESTATE or ruorus
Plot map, % lots, 1914 it, Underdonk go 900
Plot on map, q lots l51o II, nderdonk .l6oaa
Plot map IL lots, $40 #, John Scaon 20 ESQ
Plot map II lots, 75s II, Jas II Buckley. 2ONU
PIo.T on map Is lots 5s5 e. Eugene seebe 2ooos
Plot map IA lots, 22l5 #. Roph.. 1850
Plot map, 10 lots i22oft, Rolph. 1900
Plot map, ID lots 1883 II, HIM.. .........l9650
Plot map, 10 lots. 672 r. scallon. 1880
Plot on map % lots s1s r. Haysrmeyer e4s
Plot map, ~ lots 2051 IT. Havermeyer. $500
Plot map, "A lots, LILO it, Havermeyer... $500
s lots on Broadway a new street, each 25I
100, Potter Bros, each. 1,075