The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-07
Large and Important Transactions In
West Side Property.
Boulevard and Park Lots in
Demand.
Moveme11tNin Washington Heights
Property.
IMPORTANT SALE TO-DAY.

sons OF StdgnatlOn ana animation are naturak IN all
departments OF trade, being the more recognizable
In those where speculation enters freely as an ele-
ment Of business. That this the case In the real
estate market Of this city Is fact patent to al,
being concomitant with its growthAnd expansion.
The causes operating to produce the recent
INTERRUPTION OF DEALINGS
except to an insignificant degree-iOr OF course IN
city so heavily mortgaged o total suspension Of
TRANSACTIONS IN real estate impossible been
so frequently and fully stated here and are SO wel
understood not to call for repetition. The happy
fact that such causes have been removed or ceased
to exercise their influence are quite sufficient for
those Interested In
THE REVIVAL OF DEALINGS,
which this year may be considered as fairly estab-
iished from the sale OF the Devlin estate Febru
airy 49, last This estate consisted OF 1872 lots situ-
ated principally In the upper portion of the well
known Boulevard district, comprising lots 136th,
18th, l3Sth and 139th Streets and lots the Boue.
ward, Broadway, Tenth and Twelfth avenues. This
sale may be safely put down the initial sale which
fixed the character Of activity upon the market for
the season. The attendance was very large the
circumstances OF the sale being such give the
certain assurance OF its being 'without reserve"
1t appears that In his will the late Daniel Devlin
directed that his real estate be sold at public auc-
ton within Ave years from the date of his decease
which period expired last month, hence the offer.
lngS were entirely without reservation. The result
was IN every way satisfactory the aggregate amount
that seventy per cent OF the purchase money might
remain on mortgage. sale somewhat similar to
This was the feature Of yesterdays transaction and
comprised lots on Eighth, st. Nicholas and Ninth
avenues. the Boulevard, i23d, 124th, 125th, I26ln
the Immediate vicinity or Morningslde Park ana
the several plazas formed by the junction of various
OF the streets named. and were sold with the full
consideration Of the attractions they thus possess
influencing buyers, Offering thus
a. FAIR IA EXHIBIT OF THE CHARACTER OF THE MARKET
~ the present Time. The aggregate amount realized
was about $4,000, being an average of So, $50
per lot all round. The lots on st. Nicholas avenue
between 1880 and 124th streets, ranged from So 500
southeast corner Of ST. Nicholas avenue and 124t6
corner OF the avenue and 123d street for $780, the
Eighth avenue lots, west SIDE between l23d and
on each corner selling one for $50 ana inc other
Tor $685. Ninth avenue lots brought about ST., Co.,
e tHe Cc 10y was On % for @ ~
the boulevard and f24th street brought $7,25o
H 10 the above h lots at
on the southwest corner Of Broadway or the Kings.
bridge road and the road to Fort Washington depot,
35x]U0, was disposed OF, J. A. BroadnoOE being the
purchaser, for $1,000. Bids ranging from So 900 to
81, $50 were offered for Others, but not accepted
day.
In these two sections, which we may designate
washington Heights districts, we have the field OF
NEW SPECULATION IN REAL ESTATE
has preceded it In thus city. The indications sail ali
seem TO point to this result. The time Is ripe for
activity OF the Market which seems already ' as
though it were q blank page that had been most
for thorough settling down OF the disturbed ele-
ments OF excitement IN the trade, which kept men
wavering Ia their minds respecting the desrabllty
OF real estate investments and undecided'ln their
clearing of OF much Old business 10 the
way Of contracts that hampered dealings and most
eectuay dlsslpated the faint Of suspicion which at
one time took such strong hold OF the popular mind
cleared the atmosphere generally OF supernuities.
imaginary and real, that cn0ked the free develop
aay o. ana sea ee Of TO-
is not at all singular that such should be the case
as we have often na before stated. It was
Island should remain stagnant forever It's re-
vival as great speculative movement was only
very short time. That time we think has come
The value of real estate Is too secure ana TOO well
rather" said gentleman converslng on this sub.
lect '.pay $1,000 for lot, anywhere on New York
the adjoining couniiesl Il a lot were given me for
nothlng" meaning thereby that with the extra cost
OF $500 for the lot, added to the cost OF improve
ment the prospect OF return was greater there than
in Brooklyn, Jersey City, Westchester county
or In any Of the surrounding districts. THIS
is the feeling almost universally prevailing
among capitalists In this market seeking real estate
Investments; heuce those recurring periods OF CON-
petition, when their thoughts being turned III this
direction they seek to secure the kind OF property
promising In their Judgment the greatest or EARL
est appreciation. In regard to tins connection 1t
''"' THE UPPER END OF THE ISLAND
there is evidenced disposition for more perma-
and some large tracts that have oeen but recently
sold were purchased those h ns
position position is extending also into Westches-
ter county, where In anticipation Of rs
movement In real estate but, while at Washington.
Heights men are satisfied with from one to FIVE
require from fifty 20 one hundred acres II Is pre-
dlcated upon recent data that north OF 155th street
a e city 70 viii the ee ap az G Hae upon rrew n
nourIshlng suburb, while Yorkvule was only
sporadic settlement, This has ossn heretofore the
enormously suppose. because Of the gaps they
city up town. that It's extension Is bounded by these:
but this is by no means the case, As these vacant
spaces are afterwards absorbed IN the spread OF the
various built up districts surrounding. Great i'm
provements are expected TO be carried through up
single commission should he appointed to declare
all the streets and avenues hero open. This would de-
termne the grade and stimulate building, and much
satisfactionis felt In this dreeu0n at the final set
Element OF ,ne grade OF Eighth avenue the constant
change OF which was cause OF serious annoyance
are to be put through the Heights without waiting
for the opening OF the streets. The question OF
two matters when are Intimately associated WITH
the development OF this section OF the cty concer n
ing Doth Oh winch we snail have something to say
again.
THE PRESENT ACTIVITY
Is not mere spasm such. as has occurred once or
Twice within the past couple or years, but gerline
revival oil business, which there is every reason to
Deheve win last the season.. We learn that
the savings banks are coming into the market
TO large extent, the recent furry in
respecs 10 the character OF their assets and the
Tears OF what might have happened serving as a
cauuOn to them to seek such solid investments.
Former depositors TOO, who were frightened In the
aeoens panic, are among the forward buyers. u -
estimated That $l5000.oO0 has been Withdrawn
from the savings banks since the Isl Of January,
one.ha OF which has found IT'S way into real estate
Among the late sales which may be taken as
DETERMINING VALUES,
we notice the sale on Monday OF lot 27.2xlos on
the southeast corner OF Fifth avenue and Eighty
fifth street, for $47,O00 purchased BY w. Doug.
lass. Also the sale OF three lots, sogener FORMING
plot 7axlO0.A on the south sdes OF Ftfty-eiantn
street. between First and Second avenues, Ior
$4,000 over and above mortgage amounting
interest and costs, to $780, making the mh price
'eSss ia's :sls OF brooklyn prOperu 9omprlang