The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-14
REAL ESTATE.
The Superior Character Of New York
Realty as an Investment.
CURRENT TRANSACTIONS.
important Sale of West Side
Property.


There is subject OF larger interest TO the
age New Yorker than that OF real estate values in
this city and county, as there is nothing which
can be more readily q reflection OF tho
country's prosperity than SUCH values. Occupying
pre-eminenty the position OF the metropolitan
centre OF this aggregation OF commemorative not
by the mere accident OF geographical location. or
through the preference OF mere political condi-
tons it has come to be recognized as
THE CAPITAL OF THE COUNTRY
through its larger and reer cosmopolitan growth
OF thought and instinct through its higher cutivs
ton OF art and science and literature, throughitS
grander appreciation talent these several
departments, ana its more generous and unseo
tional recognition OF the same through Its broader
application OF the eIeganc:es OF life TO daily use.
TO sum up. its higher esthetlc culture than
prevails elsewhere, quite independent OF
its superior claims in mAerial sense.
1t Is admitted even by It's rivals 70 be
THE GREAT CITY or THE CONTINENT.
the foremost community OF the New World. When
the struggling lire oil genius first begins 10 warm
into life aud purpose him who possesses IT, It IL
here that comprehension and reward sought
When the labor OF years, whether 1t be OF brain
arm, has accumulated the means OF dignied
ease In the decline OF liie whether that means has
been acquired In the fields OF the West the
cotton heds OF the South, within the sound or
the whirr oil New England mill wheels or and the
giant scenery OF some distant gold state New
York w0os to her stately homes the successful or
every State, and wraps the mantle OF her charity
vel! round those whose i,ie's labor has had less
| fortunate results All alike nom Name To Cali
| Iornla do homage to
THE IMPERIAL DIGNITY OF THIS GREAT METROPOLIS
| What wonder is IT. then, that real estate owners
| cherish the idea OF the SUPERIOR quality of New
| York real estate valuess There is not spike
driven III the construction OF any railroad through
! out the country bus what contributes 70 That
/ value-not an acre OF virgin SOIL won to cultlya-
tion, not OF corn not sneaf OF wheat nor y
pou OF cotton grown IN the Unted states that does
cotton gins OF the South and the crushing mac nines
OF Nevada and Idaho. as well az the varied INDUS
trial mum Of tie Pacic states all have their echo
III our busy streets. Here is
| THE APEX OF AMERICAN GROWTH,
| American enterprise and American cultivation. 1t
is not surprising, therefore, as has been said be-
! lore mere, TO tina owners OF real estate,
Notwithstanding the prevailing duness, CON
ndent OF the maintenance OF real estate
values, whether speculative or permanent, az
something which, whatever may be the result Of
stable ana always appreciatve in the hands OF
those who have the abity--that is, the financial
sion that occur from time to time. merely TO mark.
asst were, the force Of the regular now that u
WEAK HOLDERS
unab to carry over TO the next season oil activity
heavy burdens with which they had lnJudlclously
loaded themselves, and they are consequently
compelled to ,orce sale at lower figures or suffer
foreclosure. fhe last lew months mas Decn just
such season OF dulness IN winch the transac-
TONS were manly the result OF foreclosures.
When we snail have reached the end OF these, and
the property, which IN the hands OF these weak
capitalists was always trembling on the verge OF .
sacrifice, has passed into strong hands. the mar
ket Will uc the better for II, ard VIII De prepared
Tor new departure. And that this will not De
long there are already Indications in the
INCREASED OFFEk1NG OF MONEY TO LOAN ON REAL.
ESTATE,
which would seem to prove that much previously
employed III that way, has been recently released
/ aud Is now seeking fresh investment. Another
healthy sign OF recurring activity. should the re-
suit prove proptiOus, Is to be found in the an
nouncement Of a sale Of twenty.elgnt lots situate
varlously on the Grand Boulevard and Sixty-ninth
street. tenth avenue seventy sixth and seventy
seventh Streets vH:-Foar lots on east side Of
Grand Boulevard, beginning at southeast corner
street. adjoining, and twenty lo,s on the west end
OF the block bounded by tenth avenue, seventy
sixth and seventy seventh streets. The above 10
all choice property, the
| BOULEVARD LOTS,
being OF extra size, ranging from 80 feet 9 inches
and % eet II inches to Is feet front, 100 feet
loh .lncnes southern boundary ana q feet 2X
nnlshed and Sixty-elghtn and Sixty-ntnth streets
curbed and guttered. In regard to the other lots.
s seven and Seventy seventh streets not.
Sixty per cent OF the purchase money will be per-
| mitted to remain on bond and mortgage. Thi1
property is announced for sale by the owner. r A.
Wtthaus one OF our largest real estate owners,
investments IN new York real estate As withous
reserve or limitation OF any KIND. The circum-
|
AN ABSOLUTE SALE
and the peculiar conditions surrounding the market
the present time. oil combine TO make It an object
Of especial interest 1t Is looked forward to In
many respects as afTording an opportunity for an
absolute test OF the market at this time, and al
though there is In this anticipation much OF exag-
geratlon, as even failure here would have, alter
all, only a limited relation 10 property elsewhere,
there being always special conditions effecting
particular property, yet much interest Is felt In
it because OF the many circumstances that give 1t
! representative character. II Is certain to be
largely attended, and while the result may require
CAREFUL ANALYSIS
in order to determine the precise extent or its
teachings in respect TO other property 1t is still
| certain to furnish much instruction. The bulk OF
the other sales announced Tor the coming week are
either by order OF referee or executor, in partl-
tion foreclosure and this is clearly certain to %
the feature oil the weeks business.
The week opened yesterday upon 1air attend
ance at the Exchange Salesrooms, although the
offerings were hight and free OF any special in
THE SOLID CHARACTER OF REAL ESTATE
investment however. IN a city like New York, en-
Joys. always brings q iair proportion OF Interested
dealers around any sale that Is known TO be bona
await themselves OF any opportunity that may
present Itself TO JOIN In the flood OF the tide ana
they seek chances to pick up nice piece OF prop
erty AT low figure, well knowing That the In
evitable course of events in the New York real
estate market Will guarantee them
A PROFIT SOONER OR LATER.
OF course there may be exceptions to this rule.
such are needed TO prove ", but they take color
from surrounding local conditions and are beyond
the government OF any general rule But this tact
stands out prominently In the front OF real estate
investment in this city and county, that where
capital has gone boldly In and invested 1t has, I'M
less under peculiar accidental circumstances, al
ways met q iull return. Where property this
island has been sold at sacrifice upon It's former
price IL mas always been under circumstances
! which forced sale either because OF the weak
ness OF the holder or some other accidental con-
ditlon. They who bought and were able to hold
that is-bought sufficient capital TO justify their
/ purchase, have invariably realized a profit. The
following are the particulars oil
YESTERDAYS SALES.
NEW YORK rRorERry-By BLnscxER, SON AND wHIrE
Il b. h. ana J., No. ass W. 2lst ST., n. s., $50 IT.
OF 10th av lot Dx9S9; s. T. Gordon SIC 400
n N.
Half interest in the 4 a. blk. tenement h. and l.
H. 9th ST. 800 r. e. OF LIST av., lot l6.sxs5 julius =
nAnSrrr.
II. and !. No. 240 r. nth ST. 25 w. OF "a av lot
.Itx6- dwarf Sptt