New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-22
INCREASING ACTIVITY IN REAL ESTATE.

PROPERTY CHANGING HANDS BY FORECLosuRES-
RISING DEMAND FOR LAND IN THE ANNEXED
wARDs-LARGE TRANSFERS OF REAL ESTATE
sHRINKAGE IN WEST SIDE VAULTS.
The increased number of foreclosure sales
during the Dps; week and the large number OF announce
ments the present week have given liyeer aspect
business at the Exchange Saesr0Oms ara III The Offices
Of the aucOnccrs who have had very dun time during
the present year. The public sales thus far however,
have all been the result Of suits begun in June anu July
against persons defaultlng their mortgage interest
Last Thursday whole block, comprISing u lOtS
lying between Eleventh and Tweftlayes, West
Ninetieth and West Ninety-frststs., was to be sold
IN accordance with Judgment obtained by the Geimaa
Life Insurance Company against tho owners OF the prop
erty but owing to the non attendance OF certain eA
pected buyers the sale postponed until Thursday OF
this week. many instances the plaintiffs III THESE ore
closure suits the purchasers or posseSsorS OF inc
property offered for SALE and hence acquire IL nj 10"
figure
Outside the Exchange saesrOoms brokers are saueneo
with the increased inquiry for property Whcfe SIX
months ago nobody would even make an offer Ills Is
especially the with property in the annexed wards
where a demand ia slowly arising near sections ilkeiy
to be I'm the immediate vicinity OF the prospective
rapid transit roads, but at very low prices
Capitalists with large amounts Of money lying
idle are more agtated concerning the hard times
than even OF the people. They want to use
bargains The business community is really divided be-
tween two opinions as real estate being that no
revival in values will till there is change OF Admin
istration aud the country is settled down into Following
steady financial policy; the other that the captaiist7
until that time, and will be compelled 10 IN
vest their money long before.
Among the real estate investments by capitalists
is the sum advanced by August Belmont last
week on Tweny -thirdst. property, near seventhaye
The wol-kn0wn dry goods house OF Arnold, Cohstapie
& Coz who have bought for cash considerable real estate
the last panic have recently made such arrange
ments that all the real property OF the firm stands in the
name of one person. Aaron Arnold senior member OF the
firm Heretofore some of the property stood in the name
OF Aaron Arnold, some in Richard ArnolPs same soma
in the of James NJ Constable and other parcels IN
the firm name Last week the unmprOved property in
Guiding real estate Madison and Ffthaves Ninetieth-
st. Elgitynnth-st and other uptown streets was al
transferred to Aaron Arnold father of Richard As was
reported the official record OF real estate transfers IN
TIE TRIBUNE Saturday morning, the value OF unim-
proved property thus transferred is S76OOO0 In
Aaron Arnod's name is held also the building at
Broadway and Nincteenth-st. and the wholesale store
on Canal and Mercer-sts. II Ia believed, however,
that the last transfer has been made preliminary to
red ison of all the property among the various MEM
bcrs Of the firm or of the family
Another large transfer of property recorded on saur-
day, and published in TIE TRIBUNE Monday, is by
Chas a. Budensck well known uptown builder
This included all property improved by Mr. Fudensck
AT various times in Baxterst., in Tenhaye. III Forty
seyenthst in Fify-sixthst, in Thrty-nnth-st, and in
Broomet which he has disposed of for nearly 100000
10 three persons.
Among the peculiar features OF the real estate market
just the reyauation OF property by institutions
which lent money the property three years ago.
The shrnlagc Of values considerable on the West Sde
especially along the Grand Boulevard Rvcrseave and
Eighave. above the Circle where there is 4 stunkage
OF at least 80 per compared with tie valuation Three
and years The appraised values now &cce ped
by financial institutions are The basis on whlch anOnIs
lent bonds and mortgages, Dut thcy are not
asscssed" valuations which taxes raised nv the
county. Tie in most considered faulty
prominent brOker down town states that the reason
WHY West Side properly is suffering Il owing 10 the nm
certainty whether dwellings or stores VIII ultimately Hi
that part o the city Commodore VandeTbts elevators
and and the arattOirs There nave NOT IN
proved thar quartz reside stores, nor made 1t
attractive. -
on Monday the expiration Of lease Of 81 years OF
Galatians iua:e rOnC Cdised revaluatOn AMI the
same value placed upon II by the appraiser tiat
bore II II being considered Io moro Vdiu
able to-day than at thai time