New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-03
THE MARKET HOLDS ITS OWN
REAL ESTATE FAIRLY STRONG THROUGH
OUT THE WEEK.
SALE OF TIE pEcKwITH AND LAsAK PROPER
TIES THE FEArURE-THE ISAcTioN OF con-
GREss A PREVENTATIVE TO


STRONG RALLY.
While other things moving slowly real estate
oor,,nues 70 hold It's own. despite the great slump
,'oss -.h,oh an inactive Congress has forced
o, N. noople Workers.. from the time OF
che original John Jacob Aston. someho" or other
have had great faith in the soil 81 Manhattan Isl
and and A few pounds Of surface dirt "hen prop
.rIv situated and thoroughly clnched have always
maintained a strong hold upon the fascihations OF
the public. a.. ,.
The last week has been no exception TO the rue
rh.r. have been also many sales. conveyanees ana
mortgages in the last month. II Is sonethihb
he said in the interest Of investors In Newt orh rem
estate that good property is constantly IN oc'"''
rd when offered for sale It seldom fails 10 orins
good prices The total number OF eonVeyahoes De
tween May % and June were 49, against 80
u,,,hin the same period last year and they repre-
sen, in the first place NsZ72o. as against "z5''S-'
IN the same time In 1898 II IL also TO be nouceu
that the parcels OF land represented in these figures
were lo2 in 1894 as against ninety-three IN l''S
FEATURES or THE GENERAL OUTLOOK
The mortgages have been less. those OF lSs' curing
the same period having been 2h as against "'o 'as
wear The amount involved in these mortgages IN
,eo. .os % al sci as against S. 36Gs in 1883. As
eoc,,,o somewhat the peculiar conditions OF trade
q, the present time. II may be added that the num-
her Of mortgages 10 tho banks and trust ana IN
surance companies in 1894 was twenty-seVeh' repre-
sen,ing a valuation OF A521O. as against iof'y-
eght in 1893 involving the sum OF 'ao5b''| ms Is
blg difference and 1t seems 10 indicate thht there
,s dark face in the wood pile In other words there
ara fewer conyeyanccs from lack OF resources no
doubt and consequently fewer mortgages: ana u
general survey reveals the fact that whhe real eS
tate is willing hold It's own ana does 70 amn
the general depression it Is not sought for with an
enthusiasm which would gladden. the hearts oi 'e''
estate agents and would-be sellers.
hat n
.acrince is one OF the celebrating signs OF the
times While railway stocks on the Exchange are
nuttering Ike doves in flood. not knowing "here-
on 10 rest their feet Manhattan Island WIN I'h
backbone OF rock. affords. at any rate resting
place for capital when It finds courage enough TO
crawl out OF the overloaded vaults OF the banks
The sales OF the last week have not been refnarh,
able in point Of specific yaSe G9sn and ~ the
sale OF his lots In upper Fifth-aye attracted CON On
The southeast corner Of Fifthave and Eighty-hrst,
81 The property mortgaged TO the extent Oh
$3.50 900 Of which $4,000 was n second mortgage
PRICES FOR THE BEcKwITH LOTS.
Across the street from this particular piece OF
land August Belmont bought "A plot OF inc same
dimensions with ar additional lot. so late as
March last for the sum OF $275Cco. Hence esti-
mates are being made to the value OF the prop
erty on the other and this Is figured at ABOUT
$4,000 and II is said this is about what the prop
erfy cost the present holders n year ago. IN the
al BpCkNltn
the successful bidder at 27loDO. Mr.. Weeks also
on,eorcd as the purchaser for 200 OF four lots.
embracing l00ilxlOO the northeast corner OF
Fifth-ave. and one hundrcd-and -second-st IL Is
said this same property was bought last july AT
SIS 900 and IL carried two mortgages hggregatlnB
SCI 900 Three lots consisting OF 75SxlO on the north
east OF Nincty-frst-st ana flith-aVe., W.
also bought by Mr.. Weeks for 5000" IL Is worthy
OF note that the same property was DonBht Il !'I
ago for 10000 carrying at that time mq S age
rIod nm
show that there Is not great thrst 70, the occu-
patton OF territory in that nelghborhood'
STIR OVER THE LAsAK PROPERTY SALE
Real estate circles have been somewhat pleased
"a well as agitated over the sale OF the Lasak
property This offering in ten parcels. nine OF
which were regarded as highly desirable lots In
this city There was a dispute on the selling OF
these lots II was finally agreed that 60 per cent
OF the purchase price should remain on them on
bond and mortgage. one OF the parcels was
house and lot at No. 34 Ffth-ave., said to be
rented at 1000 a year. The bidding began with an
offer OF $50 900 and reached $4,000 The price
at which the property was knocked down was
$4,000 and II was bought by Horace $. Ely a.
Co This was an interesting contest on real estate
exchange and II revealed the fact that mere -
still faith in the community and money IN store
Island This plot really sold at a much higher rate
than had been anticipated in the salesrooms,
corner Of Fifth-ave. and Nlnetieth-st. and three
In Ninety-irst-st. were offered me starting Prige
Trask for 900 1t is said that Mr. Trash re-
ceived within a few minutes an o1er OF so'uU iui
his nrsa fssa OF pp ad So
ST Beginning with offer Of 10000. u was ssa
finally Knocked down to Levi s. Tenney at nn do
ne Was sne anufaeturers lot al No 81 Liberty
st brought &c., 900 and was Knocked Gown 10 Jeie.
son NJ. Levy. There were six vacant lots sofa q