New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-17
crI1ART REAL ESTATE SOLD.
MANY PEOPLE AT THE EXCHANGE.
.,,r AMOUNT REALIZED WAS 81 ST., o0o-JOHN Z.
PARSONS AMONG THE BIDDERS.

THE
PARSONS AMONG THE BIDDERS.
Among the most interesting and important real
.c,,o transactions which have taken place within
, ouv within the last five years, was the sale
,dov OF the real property belonging TO the estate
,, ,ns late Mary Stuart, widow Of Robert l.. Stuart
-, sale was under the direction Of George c.
-u,oms and John S. Kennedy, executors OF the estate
=, Mrs Stuart. and was conducted by Peter +. Mayer
" On. rooms O! the NrwYOrl Real Estate Exchange
-, III Broadway. Sales OF large estates where the
re1y is In desirable sections OF the city
i,r.rs bring together n strong array OF men with
,.,se fnanca: backing. The desirable character Of
A. propery I'm this instance had the effect OF at
..c,nc n large number OF men OF wealth. as we'll
:. real estate dealers. that IL 80 O'Clock when
~. forms Of sale read. the Zig room was almost
,comfor,ably filed. John :. Kennedy. representing
,s EXECUTORS stood the auctioneer john f.
o.rsons the cll.knOwn lawyer, not far away
"A Henry Marquand In OF the groups
tim sloane stood near the entrance while J. W.
alexander II. O. Armour, +. II. Van lngen OK.
ca,xtor Thomas Murphy and others were among
d. ,eorle the floor.
The original will Of Mrs Stuart was dated January
"a 1887 and the second and last codici was signed
xovember %. 1850. In the fifth clause Of the second
dcn the tesator declared II to bc her desire that
AZ executors should sell all he real estate. 1t was
n, wish that all the real estate he actually converted
n the executors into money. and that the proceeds
a the sales and the real estate itself be divided
,s them among those entitled thereto under the resi-
ansry clauses Of the will. As the testator had no
children and few relatives. large part OF the estate
as beaueathed TO charitable Institutions. In OF
tts fact II necessary that the sale be ctically
a eash transaction. Ten per cent. Of the purchase
money under the terms of sale. TO be paid TO
the executors the day Of sale mt the Office OF Dc
rorres, Il Weeks. No. &c wllam-st. The rest of
r,ace on April II. at L. o'clock noon.
The first piece OF property offered was a lot No.
,sa Chambers ST., "a feet IL inches front. with
4 depth OF as feet Inches. The building rents for
~ 900 year until May l, 1894. The first bid was
$4,000 but the offers quickly went up to $4,000.
and F. Wessman announced rs the purchaser.
Three lots. Nos lis. 80 and 152 Reade-st.. were
next offered They were bought by Myer Finn. This
nropery now rents for 81 900, under lease ending
MAY l. and Is already sublct for $1,000. The lot
No. ls5l90 Chambersst.. with frontage OF IL feet
and a depth OF 81 feet inches. was bought for
$4,000 for Mrs. Mary c. Wallace, OF No. II East
Thirty -eghthst.
The next was that Of the ground formerly occupied
By the old sugar refinery of Mr. stuart in Greenwich.
Reade and Chambersst This property Is now leased,
bringing S41 $50 year. The total sum realized for
the plot sold In lots. 1861 80 the rental show
Ing that the property yields about per cent. The
ssles were as follows: SOM Bros. bought the lots
Nos 3O3 and 3O5 tircenwich-st. for $l1OJO0, No.
307 went TO Mendelbaum & Levine for Si7250; Nos.
3Oo 81 and 3l3, diagonal In form. were bought by
E. H. Rogers for $4,000. The lot No. l51 Reade
st. directly In the rear of the larger tract Sold
purchased by c. 7. Hoffman, tr.. for Dean Hoffman,
II was said for S31 600 The lots Nos. 14'-l4J
went 10 Charles Meyer for So. 900. No. 145 Rcadc
ST. was sold $51. 500 the present tenant, l.. T.
Miller e. SON. The two lots, Nos. l67 and l6o. COM
pleting the tract bought BY John 3 Martin for
$50 coo each.
Great interest was shown in the sale of the land
with bulldings at Nos. l54, l56 and l55 Ffth-avcr
on the northwest corner OF Twentieth-st This prop
erty is now under lease until May. 10 Bcrter Bros
at $50 900 year. The lcssecs are entitled TO two
renewals of five years each. at a rental OF . per
cent on the value Of the land and Improvements
The first bid on this property was S3'1 1000 From
the moment the first bid was received II was apparent
that some one wanted the property badly. Tie
offers came quickly. There great excitement
The bids soon reached 100000 and then mounted
quickly to 100000 Then a pause, and the
auctioneer declared the property sold to John f.
Pars 1ns for that sum- There some curiosity
as TO the object OF Mr. Parsons purchase. 1t was
h,er learned. however. that the Board OF Foreign
Nesons Of the Presby terrain Church, and the Board
Of Home Missions Of the Presbyterian Church each
lad cne-seventh interest In the residuary estate.
The price paid by Mr. Parsons represents In the sum
OF 500 OCO little less than The sum Of the beneac-
ton. Ii was said that Mr.. Parsons. In acting for
these two organizations. looked upon this property
as most desirable and likely TO yield u profit as
simple business transaction lie had therefore made
the bid. so far ; known the DOards have no plans
as yet for the erection of buildings on the site.
There was Il little tagging OF Interest in the course
Of the sale after the Twcnteth-st property had been
disposed Of. Expressions Were frequently heard
frOm people that tie results Of the sale up to that
point had been excellent. Then came the offer Of
former residence OF Mrs. stuart. at siAty-cshtst
md Fifh.ave., overlooking Central Park The lot IN
filtave. Is fftyfvc feets extending 200 feet III the
Erection OF Madisonavc. ON this stands the three
story brownstone dwelling With maDalrd roof. and
,wO-st0ry extension. Inc auciiOneer announced as
the first offer $500 900 Then came u bid OF S3oO,-
Nv. The next advance was to $4,000. a few
moments later 100000 WAS offered, ana then S1lo
70 step, 81 s1 oow s setWsen r Mr. w ~
ledy and the auctODeer when The announcement was
naoc by Mr. Meyer that tue Executors had had an
|pprasemcnt OF the land at &4U0,OOO. The house
isef cost s4OO0OJ more. on The authority Of The
,xecutor, Mr.. Meyer said that unless mach more
LIBERAL offer made the property would be withdrawn
his was found 10 be necessary and IL was then an
bounced that the house and grounds would be sold
In the rear OF the house two lots. % feet by
These adjoin property owned by Henry Marquand.
they we're sold At SOS. 900 each, and there was =
fought by Dr. Z. NJ. bell.
only one piece OF property was IeIt. II was Il
wo-siory brick stable sixty feet In seventytbrd-st
md extending l02 feet toward Seventy sccOndst.
Il was sold for $50 80 10 John Sloane.
The executors were greatly satisfied with the out
come OF the sale whole although there was some
1lsappOin tinent the failure 10 sell tue mouse.
Real estate looked upon me price, as indicating
hat properties In desirable parts OF the city are con
sanity Increasing In value. A.
The total amount realized by the parts OF the
estate sold was II $40 600. II the sum OF T4oooOo
had been accepted for the house the total woniu
have been sa,5a7.GOO. The real property. In The
opinion OF the executors. was worth not less tbah
=, 800, 900.
IDA ROGERS. OF BROOKLYN MISSING.
Ida Rogers, fourteen years DID, inc da"s"'ci Vi