The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-25
The Estate Of the Late Dr.. Jacob Harsen
Under the Hammer lliOnaifes o. Pur-
chasers and Millions Paid as
Purchase Money.
ENORMOUS PRICES REALIZED.
Value Of Lots Fronting Riverside Drive and
Riverside Park-Enh ancement in Value
Of Boulevard Property During
Six Years-Our Fu-
ture Belgravia.

The sale on Change yesterday. comprising $50
lots, the estate or the late DR.. Jacob Harsen, will
long be remembered in this city as epoch In the
history Of metropolitan real estate. The property
has been designated as "git edged" and such it
was, il the ruling prices are any criterion to adj
Judge such an appellati0n The land owned by the
deceased physician. in whose family the same had
been for generations, Is most elgby located. The
opening up OF the Grand Boulevard has added im-
mensely to the value, and the establishment of the
Riverside Park In the close vicinity has showed
these lots 80 far ahead that they now rule as among
the very best in the city.
Judicious advertising on the part OF the auc-
tioneers In charge OF the sale tended to draw to-
gether, not only large, but an extremely wealthy
assembage. In the saesr00m we n0riced several
millionaires among them r. A. Witthaus, Amos r.
Emo, Mr. Mortimer, Philip G. Weaver s. 7. Mayer,
Cyrus Clark, L. J. Phillips B. X. Stephenson, 1r.,
George Peck, Benjamin Lehman, william Saline
and numerous Others, who are largely engaged In
real estate operations, not, however. as specula-
tors, but actual investors and owners There were.
however, q great many brokers In real estate
among the audience, who 1t was anticipated would
be large buyers; but not one Of them even put In
bid.
At twelve O'Clock precisely Mr.. Adrian H. Muller,
Jr read the schedule Of property to be offered, as
also the terms Of the SALE which were ten per cent
on the day OF the sale, twenty per cent in thirty
days and seventy per cent on bond and mortgage
OF the option OF the purchaser for one, two or
three years. at seven per cent per annum after
which Mr.. Muller Sr., by way OF explanation
stated that each and every parcel OF property
offered would positively be sold, the rumors that
the executors had parties present to bid to the
contrary Notwithstanding.
THE FIRST BID
made was on the corner lot located on the south
west corner OF Seventy-nrst street and the Broad
way Boulevard by Mr.. Philip G, Weaver, who
started with $4,000. Everybody looked aghast at
this large sum; the bears, who had been
decrying west side property In general and River
side Park lots in particular, began to look fright
ened YET the advance by $500 at time increased
sum, alter proper halt by the auctioneer. was &C
copied as final bid. and the lot on this valuable
corner was knocked down to Mr.. Benjamin
Richards.
A sigh of relief escaped many gentlemen present
ne deeply ssS N ts sde s
the ''Harsen estate" was destined to be grand
success, which, in TACT, It proved to the end.
valuable land. The weather was propiti0us. solid
men appeared to be ready to purchase and good
10 be ON at 6e
footed up over
ONE MILLION ONE HUNDRED THOUSAND DOLLARS.
The block bounded by Tenth avenue or the
"Plaza," Eleventh west End) avenue, SEVENTEEN
and Seventy-frst streets, was sold first, and
$685. upon which our predications OF the previous
day were based, wherein 1t was stated that these
lots would average about 5000 eacn.
The next plot attacked by the auctiOneer was
the block bounded by Eleventh avenue, the Hud
son River, Seventy-frs street ana the portion Of
shs 70 on to
second street IS owned y MT: Philip 9: Weaver,
Eleventh avenue, as also lots 116 and 1877 on the
map, thus strengthening his possessions, making
Eleventh avenue, as also deriving full lot on the
north side Of Seventyrst street, 100 feet west of
Eleventh avenue. The same gentleman likewise
SIS feet west Of Eleventh avenue, also same dis
lance thereof on Seventy-nrst street.
LOTS AT 5000 EACH.
For the entire gore from Eleventh to Twelfth
avenue on Seventy second street, fronting the
Riverside Drive and Riverside Park, Mr.. Weaver
has been offered at the rate of $1,000 apiece, being
fronts OF twenty-siX lots, and which he refused.
Full lots on this line are held at $4,000 each.
with the sale OF the water fronts extending from
the south side of Seventy-second to the north side
or SEVENTEEN street both blocks containing an
area OF about 1872 200 superficial feet. to Mr.. Clinton
Gilbert for $10l, 500.
Some few facts about property adjoining the
Horsen estate may at this time not be 0ut Of the
way In connection with this important sale. EX-
actly
since the estate Of James Boggs was sold at auc-
which property comprised the north side OF Sew,
Seventy third streets This land was sold at
s45Oo00 for 200 lots and cores when the other por.
ton was shorty ig aseP the Grand
the fronts Of these two blocks taken for this
tEoroughfare amounted to $50, 900. At present the
northwest corner OF Seventy-third street and the
Boulevard is held at $4,000 the lots adjoining,
$4,000; the southwest corner Of seventy.third
is an MO the r corner Gs OF seSeng
st sat'd at se0 s.ve and
second street and Boulevard. at 500, ooOO,
thus figuring up for the fronts on ono the Boulevard
entire cost OF the 200 lots, besides a surplus Of
property remaining which may readily be put on
the market and realize over one and half mil
place within six years. With progressing and
contemplated improvements on the west side is it
too much to say that within the next six years to
come the enhancement Of the value OF property
hereabouts will be commensurate with past rates?
No amount OF '.bulling or bearing" can affect
"MANIFEsT DESTINY,
which points to the grandeur of our "West End.n
and as soon as our merchant princes dnd that the
streets and avenues west OF the Central Park have
become properly curbed, guttered and severed
in a few short years this win become the Beigra.
via" Of the Empire City.
In demonstrating the brilliant future of the west
side, we do not wish for one moment to retract
from the great value OF property located east OF
the Fifth avenue. Values on this side have become
settled to a certain extent the number OF lots on
this side being limited and more generally i'm.
proved. Fifth avenue needs no eulogy-it has
avenues are "dedicatedn to private residences, and
both must ultimately become business streets
WHILE east OF these the encroachment OF trade has
already been so extensive that ii has become set
tied fact and not only q speculation. The hundred.
foot streets-Seventy second, Seventy-ninth Eigh.
ty-sixth, Ninety-sixth 10th, all OF them leading
into the Park, are most desraby located and cen.
tain the finest structures OF dwelling houses on the
island. One hundred and second street Is also a
first class thOroughiare, on which lots between
Fifth and Madison avenues, are held at from twenty
five thousand to thirty thousand dollars each.
Thus the
EAST SIDE PROPERTY OWNERS
have nothing to complain OF, and are at this day
well OH, In proportion to the of land as the
westerly portion OF our metropolis.
Let Wall street operators get up corners In gold,