The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-02
REAL ESTATE OPERATIONS.

Sale OF the Famous Post Estate
Over One Million Dollars Realixcd-s
Immense Crowds Mt tho Exchange
and Extraordinary Bidding Made fos
LOts-Two Corner Lots Bringing
SIS, 100 and SIS ,OOO-The Effect or tha
Sale the General Mnrket-A Tight
Money Market Has No Effect ON
Sales of Real Estate.
Never before in the history OF selling real estate
in the city of New York was property better oc
more extensively advertised than was the sale Of
the celebrated Post estate, which came under tho
hammer OF Messrs. Muller, wilkins Co. yester-
day, at the Real Estate Exchange. The columns Of
the various newspapers were teeming with the an
nouncements, and flaming posters, from which he
"who runs may read,n Of the forthcoming public
disposal, all tended TO crowd the salesrOOm with
one OF the largest and richest assemDlages ever
congregated within Its walls.
Punctualy at twelve O'Clock Mr.. Peter r. Meyer.
Mr.. Fowers chief factotum, called the audience u
order by means OF ringing the gong. The veteran
auctioneer, Mr.. Adrian H. Muller, mounted the ros-
trum and his son read in a clear, loud voice the
terms OF the sale, dimensions OF the property.
&C. Business began by offering the lot 25x1OOS
designated on the map as No. 102, on the north
west corner Of Riverside avenue and 1920 street.
This property was started at $4,000, and rapidly
run up to $ls, 100 when the bidding Jagged, and
this being the offer OF MT Cyrus Clark he was de-
clared to be the purchaser. Thus WAS the Ice
broken, and the criterion Of prices seems
to have been indicated by this "knock-
down" Lot 1Ol, the corner oppOsitej
was next put up and realized $751; 600, the 0sensba
purchaser being Mr.. John 5. Vredenburg, but In
reality Pine street broker. For two hours the
sale progressed, and did not lose jOt Of Its inte-
rest during it's continuance. the best o. humoE
prevailed throughout, and capitalists seemed tn
have suddenly awakened to the idea that their
Golccnda had been discovered. consisting Of River
side lots. They therefore bid recklessly and with
considerable extravaganza
Numerous lessons are to be deducted from thc
great sale Just closed The result has been aDx-
iously looked forward to as establishing permanent
values on west side property generally and riverside
Park lots in particular Then we are admonisned
have no effect whatever IN influencing the sale OF
real estate-ride the extravaganza prices paid out
it is true that only ten per cent OF the purchase
money had to be deposited on the day Of the sale,
twenty per cent when the title Is passed and Sew
enty per cent can remain on bond and mortgage.
which Is considered as being very consderatei
about twice as much more under the amplest se-
curity bringing seven per cent interest for an me
definite period TO come; providing, however, thaq
all the lots as offered were sold to others besides
the heirs. The total amount Of the sale figures up
ST. O94. 100 and exceeds that Of the Oarman estate
BY about quarter Of million.
Buyers yesterday displayed great deal Of ex,
element and evlnced determination to possess
the particular spot selected for an investment7
hence the lively competition However, everybody
is pleased, and let us hope that this brilliant transS
action forms the dydnt courier Of busy Spring
season. which is badly needed, especially AZ real es-
tate operations have been dragging through the
sslough OF despOnd' during the past four or nva
weeks.
The otner sales at the Exchange were entirely
overshad0wed by the Post estate. Fortunately
however, they were not OF any great magnitude.
To-day the celebrated Thompson estate, located
at Inwood and which has been. mentioned before
in this column, will come again Tor sale, under
the direction OF Mr. Nathaniel Jarvis, Jr., referee,
and Colonel James M. Miller, aucti0neer. Judging
from the prices obtained Tor the Post property
this time -honored and eligible property VIII conf
mand very high figure The size OF the plot ~
1871, 900 acres, besides a fine three story ana
basement mansion, or extra large DIMENSIONS out.
houses, &c.
The following are the particulars Of yesterdays
transactions at the Real Estate Exchange, NO. Ill
Broadway
BY ADRIAN n. MULLER, WILKINS AND CO.
Executors sale OF the Post estateo
IIofD n