New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-18
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INTERESTS OF ZEAL ESTATE.
INCIDENTS OF THE LAST WEEK.
THE CONDITION or THE MARKET AND THE MOVE
MENTS FOR NEW REAL ESTATE EXCHANGES.

THE CONDITION OF THE MARKET AND THE MOVE
MEyTs FOR NEW REAL ESTATE EXCHANGES.
No new features marked the dealings in real estate
last week. Business remains dull, but prices snow
no disposition TO Yield The outlook OF the market
is not promising, but there nave not been any des
velopments which should discourage holders Oh
property, while dealers maintain that there Is Z
possibility of an active movement toward adVanceu
figures at any time. Excessive building mas Deeh
checked the mOrtgaging OF realty nowhere Is eh-
cessive the steady inquiry for property reflects t
constant growth of the citys demands for office and
house room, aid the absence of speculation that
is at all unsound shows a conservative condition OF
affairs that is gratifying. good Illustration SH the p
auction sale last week of the vacant lots belonging
to the estate of the late Governor Morgan. 10
large extent the purchases made were speculative
the property was bought to be held
by strong brokers operators for higher prices
Yet no Insignificant part OF the parcel passed INTO
the hands of persons who will Immediately improve
it, Lots as far mp "a Eighty-secOnd-st and Ninth
ave. are to be improved by Richard Deeves, the
buyer at once and other DuHers, is IL sio T 70
the estate as a whole, IL will be developed more
rapidly for occupation than when 1t was heid IN
one block by Mr.. Morgan, who refused TO sell II at
current prices aud vet declined TO put Improvements
upon il. The sale of the Madison-aye,, Sixty-nlnth
and SEVENTEEN st. lots was especially snccess1nl
n parcel of land for which the Governor paid nearly
5000 900 in 1874 bringing over 100000. an adj
vance from similar sale in 1881 of $1,000 Inc
Central Park west lots were sold at prices that
show gain to the estate, but the other lots were
sold at loss from the prices of ten years ago. but
at figures fully up to the present market.
Encouraging reports are made of the progress OF
the two movements for the establishment of real
estate exchange. Conservative brokers greatly
desire that eventually union may he
secured between the institution originating
with Mr. Chesebrough and that being pushed
by the brokers' committee. The reforms so desirable
in connection with real estate transactions VIII De
far more easy of accomplishment when advocated
by one central body than by two organizations
whose iealousics may lead TO inharmoniOus action
The brokers' committee last week Incorporated the
Real Estate Exchange and Auction Rooms lllmltedl
after the plan outlined in THE TRIBUNE OF last
Monday. About sixty subscribers have AL
ready been secured. many OF whom are
ones being W. w. Astor George +. CAN'T,
Lloyd Aspinwall and John j. Burchcll. The
committee itself represents an ownership OF prop
erty that can be estimated moderately at
81 800. 900. In reply to Mr. ChescbTough's sum
mary of the advantages Of The old Produce TX
change as site brokers say mat II does nor tolloM
that because the site is rejected new building Will
have to he erected at whatever location may nc
decided upon 1t is understood that q selection
may be made Of building above Wall-st
which will require few alterations to tit il for the
purposes of an exchange, while at the same time
furnishing office rooms for brokers and auctloneerS
who wish 10 be close 10 the central place for trans
acting business.
The private transactions worthy of note last
week were as follows: The estate Of b. +. Beck
man has sold Nos 537 and $50 Broadway to Jay G.
Wcmpe a Co., for S2725OO. William Noble the
builder has sold No. $50 Fifth-ave between Forty
seventh and FOrty-eighth sts to George &. Taylor,
for Tl24 800. The Kirkland estate has sold No.
10 East Twcnty-frst-st. for 10000 George ).
BowOin has bought No. 80 Park-avc. from f. II.
Ludlow & Co for 81 10000. No. COS has been pur-
chased by Mrs. Margaret Y. s. Wolfe for Sj7, 300.
No. 767 Eighth-avc. "a fiat house and store) was
sold 10 Hyman Sarner for $4,000; No, los
Grand-st. has been bought by Leopold Stadeckcr
aud Jacob Emshcimcr from Simon GuldcnbcTg, for
S75. 900. Isaac Harlem bought the property at the
southwest corner of the BoWcry and Prince-st. for
$4,000 Eight lots i'm Ninety Scvcnth-st.. west OF
Central Park West have been sold for : 900 each.
The ECc5rd and Guide saws that the estate Of William
Beach Lawrence has sold thirty-two lots between
Madison and Fourth ayes. and Nincty-sixth and
Nincty-scVcuth IS. for about ~ 10000.