New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-22
LOW PRICES FOR hARLEM LAND.
REAL ESTATE MEN SURPRISED AT THE SALE OF
THE LYNCH ESTATE

THE LYNCH ESTATE.
The real estate market was surprised yesterday by
the low prices obtained at the big auction sale Of
lots belonging to the estate Of william Lynch stu
ated on the Harlem River between onebundrod. and.
Gfty-hfth-st. and Northumberland Gfty-nlnthst The
estate was sold by order Of the widow sarah Lynch
Mr.. Lynch wEo was born In Ireaud amass d a fortune
in coffee and teas in this city and prudeny invested
his money in real estate along the Harlem. As much
OF the lands along the river at the time ho bought
were overlooked at high tide and considered nearly
worthless, Mr. Lynch acquired the property for a
mere song. "Unearned tncremeniss and the build
Ing of the elevated railroad have sweled tho fortune
Of the widow to nearly S5,O00000
The Lynch estate embraces 7I2 lots all told. OF
these los were advertised TO be sold at the Real
Estate Exchange yesterday, but only seventy-elght
were disposed Of the remaining lots being withdrawn
because of the low prices. Those that were sold
brought in round numbers 1921, $50. There was
large attendance of buyers who refused TO be entced
however, by the melodiOus voice Of Potter f. Meyer,
ID anctloneer, into big bids Among those present
were G. L. Dillingham;, the publisher; ex-AssembIy-
man Joseph Gordon and Walter Appleton all baseball
men, who at one time thought Of buying part Of tho
property for ball ground In place OF the Polo
Grounds 1t Is said that they were told
befon the sale that the entire block OF lots
could be had for 100000 which was far beyond
their limit The baseball men said that the reason
why they did not avail themselves Of the low figures
Of the auction sale that the ground was too low
water could be struck anywhere at depth OF four
feet. Before the sale private bid Of 500 900 was
made Tor eighteen lots fronting Elghth-ave. which
was refused The lots brought 100000 under tho
hammer. There rumor on the Exchange that
the estate OF Charles Conner, the typefounder had
claim on part Of the property sold, but this was
denied and the fact pointed out that the title was
guaranteed by the Lawyers Title Guarantee Com
pany. Many real estate men said that the cheapness
OF the property would have salutary effect on the
market, and bring 10 their lotowners who are
retarding business by holding out for prices on IN
improved property which The market does not Justify
The northeast corner of Eigllthave. and onc-h,in-
dred-and-fiity hth-st. brought S10,1o0 the corner
In One-hundied- and ffty-sxth-st mot open $500
and the interior lots from SO, 800 to ~ ,O25 Lots
In One-hundred and fifty fftst. in the rear brought
from $3.50 to $3.50. The lots facing the exterior
street on the Harlem River brought s0,o5O for the
corner at onehundred fifty ffths and 20 500 for
the corner at onehundred- and fifty slxthst and I'm
terror lots from S2,45o to $1,000 each The lots are
not equally deep. lots in One hundred and fifty.
sixth.st. brought from s2,o50 up to s2A5o The
street is not OPEN -Four lots IN one-hlindred- and
hfiy hth-st, adjoining the Croton Aqueduct brought
$1,000 each and the gore In EdgecOmboave $4,000
Among The purchasers were j. Daurman, j. stat.
lander NJ IL Hafey, j. +. Dillon, W. G. Lester s.
STRAUSS, r. farchild, A. b. Miller, L. G. BaIman
W. Knapp, J. McCuliam and Mahoney Brothers.