The New York herald., 1872-11-26
the Ninth District Civil Court the Fourth District
Police Court or the Fifth District Police Court.


Tho Banks Estate Under the Hammer
Rates of MOrtgages-PrOperty Around
the Proposed Crystal Palace-ssnpOrtan
and High-Prfccd Lease of the Sampson
Estate, Broadway, Corner Bond Street
Broadway Property Valued by the
Million-Dr. Halls Church In the Mar
kct-BOss Twecd's Purchase-Oat Of
Town Sales.
With the exception OF some few private transfers
there was worry little business OF any Importance
transacted in real estate yesterday.
Great preparations are being made for the dis
posal of property to come off to-day at the Ex-
change, which is expected to realize high prices.
The sale comprises forty-two parcels OF valuable
city property belonging to the estate OF the late
David Banks. and is held by Muller, wilkins Co.,
aucioneers. A number of other sales by other
auctioneers are advertised to come Off to-day at the
place, some OF the property being well located
and quite valuable.
Last weeks transactions in Wall street and other
causes, some OF which have been mentioned in our
article of the oath insi., have conspired to cause
stringency In the money market, SO far as invest
ments in property are concerned. This state Of
affairs has had the greatest influence the rates
OF placing mortgages.
The ruling prices yesterday at which property
could be hyp0thecated was as follows First
mortgages on first class real estate, 81 to per
cent; second class (tcnomcnu property, first mort
gage, 8 to n per cen. Second MORTGAGES in pro
little done at these rates. and the tendency late in
the day was towards moderation in the demand
!or bonus on mOrtgages-COncesSIOn to this end
being made by lenders
During the present week there will be offered
street. between Yr and % pvae
sales This locality Is rapidly being built up with
fine residences, and, being complete as far as
grading, curbing, SeWerlng, &C., Is concerned,
purchasers can at once enter upon building;
whereas in other regions OF the city the state of the
ments. Should the Crystal Palace scheme become
reality the property just quoted will be enhanced
Messr II IL oW Cue Yesterday concluded
lease OF ten years on the property known as the
estate OF the late Joseph sampson, corner OF Broad
way ana Bond street, with Messrs. Brooks Bro
theirs, for $6o,U0o per annum. new building,
which is to be erected, will be Of brick ana iron,
purchased the property on Union square now oc-
cnpied by them at the comparative low figure Of
$375000. They offered $780, 900, Which was refused
when q prominent sewing machine company
stepped in, paid the first named sum, and next
May takes possession OF this well-located edice
ana lot, having made young fortune by their in
vestment.
For business purposes Broadway, from Union to
Madison square, is the most sought after and
highest priced spot in the city. One piece OF prop
erty in this locality was purchased Tor 100000 in
1864; two years after it was sold lor 100000. Last
week the present owner refused S6oG0OO for the
same plot, and expects before great while to
realize s, 100000 therefor.
that Dr. Halls church, corner of Fifth avenue and
Nineteenth street. adjoining the establishment of
Arnold, Constable Co., had been purchased by
Mr.. A. 4. Stewart. Such Is not the fact. Mr..
| Homer Morgan, of No. Pine street, has this same
prOperty-eighty-fOu feet on Fifth avenue and 150
| ieet on Nineteenth srect-ior sale, and the price
demanded is $G00,000
| Mr.. Homer Morgan likewise controls the south
| east corner OF Broadway and Twenty-second
street, 10OXl25 feet, which is offered on lease OF
twenty-one years at $4,000 per annum ground
rent. The present lessee, however, demands q
bonus OF 100000 to induce him to part with his
lease. This property adjoins and forms one-haf of
the block formerly owned by the estate OF the late
Jacob Cram, and now the property of "Boss
Twecd.r 1t was originally purchased by him for
$G00 1000 but Is really worth more money according
to the price at which surrounding property is held
The above merely illustrates to what high value
Broadway real estate, between Union square and
Twenty-siXth street. has risen within lew years.
One hundred feet front on Broadway, between the
two last mentioned squares, at present well
rented. Is held at 81, 900, 00O by Mr.. Morgan.
Messrs. Winans, Sands X Garrettson, 80 Liberty
street, sold last week eighty acres OF ground on
Central avenue, White Plains, at $500 an acre.
This plot OF ground is to be laid out in villa sites
and built upon next Spring.
:, Jere Johnson, Jr, held sale last Saturday at
North Kingston Ulster county, where he disposed
OF 100 lots, 25xloo. at $7,ooo-an immense price,
considering that the property Is located one mile
and half from Kingston.