The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-15
REAL ESTATE MATTERS.
A Wild Mania for Speculation-ympor.
tant Sale on 'Chnnge Of Insurance Prop
crty-A Low Price Obtained.

A wild Mania for observation-disclosures.
tant Sale on 'Chnnge Of Insurance Prop
crty-A Low Price Obtained.
A good deal Of activity was displayed yesterday
in the real estate MARKET and q number of good
sales effected on private terms. The location and
general details thereof are, however, being held
back by the parties to the transactions. In this
wise millions OF dollars worth OF property changes
hand weekly, and Is being sold over and over again
before the land Is finally entered OF the Registers
office for record.
This specializing mania has had much frcer, a.
well as decidedly cheaper scope since the LIST OF
last october. On that date the new Internal Reeve
nue. law abolishing the aflxing OF stamps on legal
documents went into effect. Previous to this
1t required o young fortune in government
stamps to be attached to conveyance,
deed, or even contract. Persons under
such circumstances and restrictions were chary In
purchasing unless 1t was bona tide bargain. Az
present, however, when nothing is required but
simple receipt and that even without two cent
check stamp thereon In acknowledgment OF the
ten per cent purchase money, more wild specua-
tions are gone into and 1t is more than probable
that good many bogus sales are thus reported in
order to give value TO surrounding property.
During the coming busy Spring we shall, no
doubt, hear OF o good many such transactions,
wncn now S are 0ny trv ny t,ass a u,
and no reputation to lose. The respectable portion
OF the brokers discOuntenance any dish0n0rabe
means whereby real estate can he affected either
one way or another.
Many people have expressed wish for the pres
ent mild weather to continue for at least another
week, in order that the snow now encumberins
suburban property might be entirely melted away.
Then there would be great activity IN the sale
and purchase OF such lots buyers could nave an
opportunity OF inspecting and Judging Of the oca-
ton from actual survey, instead Of mere glance
At the Real Estate Exchange yesterdays an
nouncements attracted a very large assembage.
the International Insurance Company building ITO
broadway, northwest corner OF Cortlandt street,
i've story brown stone, building covering the
Objection aqsa Of Jarvis saSs receiver 'as
W. $. Duke. tor s15soOo; The cost OF this edince
pany, was S1sO,00O thus selling for $4,000 less
than the original investment. This speaks very
badly for the value Of downtown property.
corner brought a very low figure.
Messrs. f. II. Ludlow h Co. sold, under tho
direction OF E. II. Nicol. referee, the following
lloh ST., oflst av, asxloo IA story brick ~,
U. Su S. 81" s. V' loo w. q iss av sssico story
,, sTcs house ap Pss lot T. s sS s story
brick house and lot. H. 4. Bogert, plaintiff 10 80
'O brick house e. ana lot H. A. Bossrt pisntir aOs
And v. X. Common. auctioneer by order OF W. G
Conner, referee, the
s.. b. house and lot 5l7 East 10th ST., n s. 23s r. e.
ofav A. lot z9xR, TO Isaac Metzgcr for .........eW
To-day there are some very important sales adj
vertised to be held on Change.
Mr.. William II. RaynOr reports the sale OF eight
full lots on the west side OF the Grand Boulevard
between 10th and both streets for $50, 000 Nj.
BENJAMIN Lehmaer disposed OF four lots on Eighth
avenue, northeast corner OF 1l7th street, eacn
25xlOO feet and fall lot on 117th street, ZOE
$4,000 cash above the mortgage, the p purchaser
being Mcssrs. Cooper and King, VINO bought INC
property for an investment