The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-13
THE REAL ESTATE MARKET.
Continued Activity and Inn
pOrtant Sales.
HARLEM INVESTMENTS,
Valuable Downtown Business Property
Under the Hammer.
DETERMINING VALUES,
WHAT CONSTITUTES TIE CITY,"
Particulars of Yesterdays
Transactions.

PARTICULARS OI cStcrOUy>S
Transactions.
Tho attendance at the auction sales yesterday
was encouraging to the promise OF activity In the
market which we have before noticed. The prn
cpal attractions were the sale BY Muller wilkins &
Co.. OF improved business property on Exchange
place, Broad. South and Pearl streets, under an
order Of the Supreme Court; OF improved property
on Broome street, near South Filth avenue, and by
A. J. Blocker, Son Co., Of number OF lots at the
upper end OF the island, variously located In Har
lem. This district still retains front place in the
favor OF investors since about 1885, when 1t first
began TO attract attention as promising field OF
speculation 1t has Witnessed some reverse OF
values In the interim, however, lots that in that
time sold at $500 and $780, selling again at 50 and
$40. anu later ct $40, with q profit at that ngure
Some OF these lots have since sold at $2 500 per lot
Tho various projects looking to the Improvement OF
Hell Gate and the opening OF the Harlem Canal
have stimulated
ACTIVITY IN HARLEM PROPERTY,
especially ON the east side from time to time, the
prospect OF their accomplishment seemed near or
remote and the influence likely to be exerted by
these works impressed itself mems minds. Thus.
writer In an evening journal In 1850, discussing
the future OF New York real estate, made the fol-
lowing predictlon:-"That Harlem River, from the
North to the East River NOW being made navi-
gable, will soon be the great depot for COAL wood,
lumber, brick. grain, hay. lime. fruc, vegetables,
&o and that it Will be lined the whole length with
canalboats from the lakes, which will never 60
below Harlem River to discharge their carg0es.
The present business OF this Kind now done at
whitehall must be located on Harlem River.
whitehall will then all be needed for the
Increasing foreign commerce. At the present
moment all the grocers above Twentieth street
can 60 to Harlem River In less time and much
easier than to whitehall. Nearly all the vacant
ground, to build on which buildings material Will be
wanted Is now on average above F0rtleth street,
and, IN point OF time and facility TO builders, nearer
to Harlem River than to tile LUMBER depots In the
1t will be seen that, although the prediction is yet
snort Ol It's 1uament because o. the delay in the
growth Of the city has been steady In That direction.
while the stimulus which would be given to build
ing IN that section by The completion Of this work
% patent now as 1t was then and as strong an
centive to steady investment mis- movement Is
n0e confHed to Harlem proper, but extends along
the whole OF the east side down TO Fiiynintn street.
The smaller German capitalists are large buyers
here. The sale to-day onered
FAIR TEsT OF VALUES
t1 the neighborhood where the several lots disposed
OF are situated, and the bidding and attendance
TIE following are particulars OF the sale:-
s sS a., and i' ic; adoin ss'0O
Lot 9Th av f. Of 5sh St. and : lois adjoin 90"
Lot ST., loo It. W. Of av A. ana lot adjoining
Lot =. corner 9Th av, Boulevard and islh ST., slii
7,UUW
The first VI these lots was sold for cash. On the
i've lots IN i06th street, corner OF Fourth avenue.
the terms were seventy per cent on mortgage, and
the same on the ls4th street LOT. On the two lots
1921 street 81, 500 remains mortgage Five lots
on lO5th street, Of the 1O6ih street lots sold
and one los on 1S3d street, near Madison avenue,
and advertised, were not put up, owing to the Obj.
HeQce OF the owners.
J. Johnson, Jr., sold a lot on the north side Of
l1eth street, It's feet west OF Eighth avenue 25xs5x
30, for $500; lot on the north side Of l2tn street.
8Sb feet west Of Fifth avenue, 1s9x99.11 with a
three story and basement frame house thereon, for
$500; and two ots south side Of ll3lh street.
2os feet west OF Fntn avenue, each 25xl00, for
SALE OF DOWNTOWN BUSINESS PROPERTY.
4he sale OF business property down town was the
principal feature OF the days business, although
less interesting to the mass OF real estate operators
It's principal significance arose from the fresh de-
termination OF values IN the lower part or the city
growing out Of the decision OF the New York Stock
one. This has exerted most important influence
upon the values in the neighborhood, which had
lions considered from time to time for Q removal.
Thus, with the location Of the Post ONCE, che new
concerning Which We published sSnas facts ' last
week, me mammoth building projected on Broad
street between wan street and Exchange place,
acter. have determined the district south OF Cham
bers street, Ia spite OF whatever uptown movement
may occur In other departments or business, as
sThe city, the great financial quarter Of the me-
tropolls. Particular interest manifested IN the
nounccmcnt OF its purchase By Eugene Kelly being
sent out Oh the tape Of their Instrument by the Wall
street Financial News Bureau 1t Is stated that MIR,
Kelly Intends removing his banking house to this
building. the following are the pariicuars:-
pS sw9 lots Fl land together with the four and
northerly side OF Exchange place, between william
and Broad streets, ana known as Nos As ana A. be-
Ing together 50 feet IN width In front and rear by
900 feet on the eastery ana 99.s feet on the westerly
line. and is arranged Tor offices, slGo.ooO.
The plot OF land, together with the four story
French ROOF BRICK BUILDING thereon, on the NORTH.
west corner OF Broad and South Streets and known
South street. being 473 Ieet South street and CO.
feet on Broad Street, and Is arranged Tor offices,
The four story brick store and lot on the north.
easily corner OF Pearl and Platt streets aud known
as No. 2z5 Pearl street, being 1910 feet on Pearl
street 81 ieet on the rear aud 5vll Ieet on Piat
Tie purchaser Of the Broad and South street
properly was 2: Jacques and OF the Pearl street
The following were the other sales, the Broomo
street property being next IN INTEREST,"
The three lots OF land, together with the three
story and basement brick buildings thereon, on the
and south Fifth avenue or Lanrens street. "a. and
known as Nos. 49, 49l, and 493 Broome street, Lots
each 81 feet G mas Oy an depth o.
this property, the land taken for such widening
paid for. as is also the assessment. Purchased by
The two story ana attic brick front house and lot
on the westerly side Of sixth avenue between West
washington and Waverey places, known as No. 90;
lot 2O.2 by 80 feet J. W. Rice. Sl4, 100.
Joseph Mcclure sold the house and lot No. 80
No. ia Ridge street, 25xlo0 for $22,500; building
lot the south side OF l25th street. $50 feet east Of
Eighth ayenue 2sxlli for s., 700; the three stery
No 2l6 East Tnirtieth street, lot 1&9x9s.S,
for $ll.750; ana the premises No. 24o East
Eghty-fourth street, comprising lot 2Ax767, with
G. four story brick tenement house thereon, for
WOMAN BURNED TO DEATH.
coroner Herman yesterday afternoon received
information that Mrs. Margaret Jackson, o widow
woman forty years of age had been burned to