The New York herald., 1874-03-12
REAL ESTATE MATTERS,
Final Sale of the Knickerbocker f4otsl
Property-frice Realised. s795, cas-.

Final Sale of the Knickerbocker H>tsa
Property-Frtce Realised. s795,e3s.
Some time in July last 1t was announced to n
large assemblage at the Real Estate Exchange
that he well-knOwn property, consisting OF eight
lots on Fifth avenue, between Fifty-eighth and
Fiity-ninuh streets, and one on eacn Of the mem
toned side streets, would be sold, subject to de-
cree OF the Court OF Common Pleas. The Knicker.
booker Hotel Company had commenced to erect
a large and imposing edlfce, but, funds
getting low and mortgages becoming due
and foreclosed, the peremptory sale was
ordered. The referee, however, stepped in
at the moment when the estate was almost
under the hammer and postponed the sale
until the 22d OF that month. On the second attempt
to dispose OF it another adjournment until the 5th
OF August ana subsequently to the "a and 18th OF
September, the 10th and 30th OF October. the goth
November, 1873, the 22d day OF January, 1874 and
case was carried to the United States DIS psrnc, @
Court In Bankruptcy. and the final decree issued
for the sale OF this property on the th tnst under
the direction OF Mr.. Townsend Scudder, assignee
very large and influential concOurse gathered
yesterday at the Exchange to witness what was
thought to be another adjournment. but this time
the wlseacres were mistaken. The United States
Courts allow no foOling with their rulings, and the
orders issued ny these tribunals must be strictly
Obeyed.
Prior to the sale Mr.. Lockwood, attorney for the
assignee, read the following terms governing the
disposal OF the property
FI-The said premises will be sold in parcel sub
fss s S say al WITH iiSes nd S to
MORTGAGES eosts ana interest thereon, amounting at th
das @ a y Ann.
Rasse @ S4d I 9t $3.50 upon m9rtgage held s, Sy e.
e un g. @ I yopo Of e pa
3 ss al p 5y e s spvs
Toh-said premises are sold subject to the liens and
mortgages aforesaid and the said order free
and clear Of and from every and all other liens claims
TV1-ien per cent Of the purchase money Of said
time and place of sae and for which the asssnsea
saik-The residue Of said purchase will be re-;
to Be pS I % s Se o aS eS or o al a the o s
assignee Is not required to send any no
to the as he n to his f dssd ss n
viii be charged with interest rom the date hereof
o ss s s s.a 3
chase, and IN addition to the purchase money the
AS TnSlhe biadnss win be kept open after the pEoP
is SHMn h @ asa
to N him & T BE aas uR
terms Of sale without sc 70 te eouc sac
Application d tue and WIN be held liable IS
@ be
that or which they may be purchased on the resale ana
to the x Ss S % s-a q
nary nary H form Of bargain
ad'i sad assas! All ali ssns
The OF the date OF ming inc petluog
herein July H. 1873 subject 10 the Aforesaid liens ana
mortuapes TOWNSEND SCUDDER,
Assignee in Bankruptcy.
The bidding was slow at nrst, the condition1
being SO restrictive, but the property Was finally
Knocked down at $795,638 TO Mr.. X w. sears,
OF Boston. AS soon as the auctioneer's gavel fen
! on the last lid o sigh OF relief escaped
those present at the happy radiance Q!
J this huge elephant, he price thus obtained
is full up to the mark or value. although
IL the lots now encumbered with an unsighty
mass OF brick and iron, were unlmproVed, they
would have realized more money. The eight lots
fronting the Plaza at the entrance OF the PARK are
the best this city, and can nowhere De dupncated'
Whether the last purchaser Will continue the con-
struction OF holel or not has not transpired.
THIS was the only sale happening on 'Change
Yesterday all the others put up beng adjourned
In deierence to the above mentioned one. -
or the private sales reported is one OF dweuine
house and lot on the south side ol Slxty-secOnd
street. 225 feet east Of Filth avenue, to Messrk
Adolph & Anthony Walack for 100000.