The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-13
REAL ESTATE MARKET.
The First Great Sale Of the Season-A
Healthy Reaction ProsnosIica ted--The
Want OF Rapid Transit Painfully
nj


Want OF Rapid Transit Painfully
Apparent.
Since the panic transactions in real estate have
been carried on to limited extent as far as sales
at public auction are concerned; hence any quota
tons made OF values during this period OF financial
stagnatiOn had to be taken cum grGnO sails, upon
which no positive worth could be placed
1t cannot be said that there existed any actual
reaction from prices OF last spring IN this species OF
possessions, from the simple fact that as soon as
the financial crash came all dealings in realty
were at once suspended. Very little unimproved
property was offered for sale, and as little pur-
chased except occasionally, and then at ruinous
prices 1t seems, however, that the back
bone OF this long spell of inertness is now enec-
tually broken and better days at hand for real
estate operations and investments than We have
seen for the past six months at least.
glorious thing has been the recent panic for
the interminable croakers and the ''mplacable'
spectators. 1t served as the handle to their ILL.,
humor in decrying values and situations. The most
eligiDly located property Is by them thus bettled
and the urgent need OF rapid transit decrled as
terminS the Tweaty.thira and twenty fou nth
wards. Thus IS opposed the carrying out OF the
project for establishing the parade ground at In
wood Heights; thus Is the building OF the Riverside
soa hat tfsf Ei.s GANG is repetition Of the the
IL is not to be denied that during the "dark erav
in our monetary history above quoted, fancy"
priced property suffered somewhat from the de-
preston Especially Is this to be noted the west
side. But the solution is easily given for this, by
the fact OF the total absence OF carriage convenience
either by cars stages TO localities distant from the
Central Park. And here again comes In the plain.
tive cry for rapid transit, which must remain the
burden OF the refrain TO be sung until our Legisla
ture answers with some practical measure to pro-
vide for US this much needed relief.
II large and influential gathering OF gentlemen
on 'Change, and spirited bidding on property put
up at public Vendue Is any criterion Tor better
times, yesterdays sale by Messrs Adrian II. MuI-
Ter 4 Son, would augur the opening OF good and
healthy spring trade. Long before the MONDAY
hour the Exchange Salesroom was completely
filed, the attraction being an executors sale Of
the estate Of the late Andrew Carrgan, consisting
OF eight lots on the Grand Boulevard, eight on
Riverside avenue nine on Hath street and nine
on 115th street, between these two avenues.
The old hd0tueS and many new faces were to be
noticed among the assemblage, every one ANXIOUS
to ascertain the Ndle as the result, thereof would
In great measure regulate the market Tor some
time TO come. The figures here realized warrant
the representation or an active, steady market
Considering the location OF the property disposed
Of and likewise that TINS was the first sale OF any
magnitude except that OF the knlckerbOcker
Hotel the day prevlous) this season, the prices OBJ
tained are considered by competent Judges to
have been all that could be desired
The first lot offered was the southwest corner OF
Hath street and Boulevard, No. SO on tue catalogue
s sa the starting point was $5ooonbids Of
at the rate OF $780, $50, aud even $25 followed,
until finally the price OF $3.50 was OBTAINED
ana tB lot was struck on to Mr.
block, southeast corner Of Hath street and River
side avenue, brought $3.50, rom Mr. II. A. Smith,
who also purchased the one Immediately adJo1n-
ing on the west Tor $3.50, and the one next TO
that was bought by Mr. W. II. Allen for SIS, 700. The
sold, were purchased by Mr.. Thomas Murphy.
ex-Coector OF the Port, Tor $5,675, s5,6S5 $3.50
and So, $50 respectively.
Ihe northeast corner OF Riverside avenue and
Hath street was bought by Mr.. p. Cassidy Tor
and 1l5th street was sold to Mr.. l.. Friedman Tor
$1 $50, who also purchased the two adjoining lots
on 115tn rect and three adjoining on Riverside
avenue. me entire thirty-lour lots were sold by
napast one O'CLOCK The total amount realized
being about $ls5,000.
The following is summary of yesterdays trans
actions at the Exchange SalesrOom by all the
auctioneers present.
BY ADRIAN II. MULLER AND SON.
BY order OF Develin. Miller 1rull, attorneys for
executors Terms OF SALE ten per cent cash. twenty
cent on he yth day OF April and the balance on mort
lin, W. corner Boulevard and nah st. Is llx75 A.
sd hSinSne aSx7J Thomas Murphy so
! l. murphy 300
adJoining, 25x Thomas Murphy ............. 5625
ADJOINING, 25x15; Thomas Murphy. 5,675
adjoining, 25x75 W. Il. Ailen........ ,,..,,,.. 500
adjoining, 25x75: H. j. smith ACKNOWLEDGEMENTS. $3.50
IL sw corner boulevard and ll5th ST.. 25 llx75; II.
e. Corner Riverside av and iith St, a;xyG 0 ''1'
adjoining on T. S. a5lg7s George 1855
adjoining, 2oxg9 r. " Harnett..... 100
Zots adjoining 25x997 each; L. Friedman. Is 5D
adjoining. l5x9S7;L Friedman. ............:.. 75oo
L. Priedm ..''., . -. II $50
IL; H. j. smith 90 :. '" a'u' eae" 645o
Plots litt6 ST. in rear Of the above, each asx
Null; H. j. smith. "''V