New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-23
REAL ESTATE.
BUSINESS IN THE FIELD.

.,ost week has afforded considerable cause for
.hension In financial and real estate circles. 1t
,s,s ~ aver that real estate has not shared in the
nr,cky feeling Of Wall Street But real estate is
70. sxed in values than the securities dealt in
- c,ock Exchange and its value is less fiuctuat-
". a, character. While money being loaned
=. wall Street at the rate of so per cent year on
rsr,dav last several large transactions in real es-
49,. were in process of contamination on a normal
n.sis This fact gives evidence of the stability of
arv in New-york City. With the stock market
omnetely overturned. with prices tumblng two
srse five and almost ten points a time, real
..,e retained its composure and transactions
Conducted without regard TO the influence OF the
temporary war scare
II is true as II mas been true FOR several weeks
that inactivity in real estate has been marked
ss 70 be a source of disappointment to all those
rho believe that the winter would be char
ecterized by large sales of valuable prop
ertv 1t is conceded now that for the time being
business cannot he other than dull. 1t is equally
olain however that investors who have lost
their heads in the contemplation of this nterna-
,onal turmoil standing at the bargain counter
prepared with cash in hand to accept every offer
that is made
There Is no doubt, Also that on every ebb tide in
values the possessors OF money for investment
casting their eyes toward the northwestern limits
of the island. Some time ago of the most promi-
nent men in New-York asked where. in his
on,nion. the permanent centre OF the metropolitan
replied: Between Fifty-ninth-st and One-hundred-
and hfty-ffth-st. the West Side" Recent trans
actions real in that vicinity give strength
10 the judgment he then expressed There is prob
ably activity within that stretch of territory
at the present time than anywhere else within the
city limits. The money planted there is planted TO
remain and the individuals who place it there are
OF G class who thoroughly understand the value
OF money and who aim to secure the greatest ad-
vantage accruing from its investments
Just what shall from the improvements in
the section mentioned cannot fully be prophesied
but there is question about the fact that great
expectations are INDUCED in with regard to the
possibilities of grandeur in residential structures
on the brow Of The island overlooking the Hudson
River in the vicinity Of Cathedral Heights. The
representative Of The Tribune during the last week
has had some interesting conversations with men
Of large means. and the view is almost unanimous
that New-N ork City is destined 10 be adorned in
that locality distant day by most complete
setting of homes of wealthy residents.
The boulevard system. in the judgment of those
people was one of the most fortunate developments
OF the city. The location Of the tomb of General
Grant on Riverside Heights was at first regarded
es unfortunate The splendid development of the
idea however advanced through the untring eff
forts OF General Horace Porter, has altered the
,onorraphv of all that section and il is believed that
around the tomb of the great commander will be
soused the highest class of New-fork citizens.
the entire Riverside Drive and Park is extremely
picturesque. AS the Champs Elysees is to PARIS
so IL is predicted. will the Riverside and the Morn
ingsde drives, as well as the Boulevard become TO
Business in the auction rooms for the sale of real
estate in this city the last week has been some
WnS3 sa to hs wSes sa abou Larger
than for the corresponding week OF last year Inc
under orders from the courts as the result of fore
closure suits. Up TO yesterday the results OF even
the parcels the Stryker estate at Tenth-ave..
West Fifty-second-st and West Flfty-third-st on
hacc rib ufDfla
sales Only three parcels were voluntary oferlngs
and postponements in the last week the latter
going over until after the Christmas holidays o,
reazed she sum nm Of s2So5S While for the
spending week of 1894 the amount realized was SSss,-
Ceeded the aggregate amount of the previous week
by $4,000, and were nearly $4,000 larger IMAM LOT
.or last week aggregated the sum of s25OOVW 49, =.
The conveyances reported last Week %ere Z nnr el
scented by total of 81 4sS For the corresponding
resented by total of s.. Ss1. Sac e..,. .,.,u
emitting the new Annexed District there thr
seven transfers OF which twelve weTe nom ss
ga In the Twenty-thrd and Twenty,fourth wards,
including the new Annexed District there were hIty
transfers. amounting to S667i9. - -.
There were 265 mortgages, involving the sum OF
ner cent a year and 1894 llS was secured at per
cent year while the balance OF the moneyus o'0'
5Cl-was secured at lower rate than per cent;
There were filed in the Building Department Sixty
five plans for buildings, at an estimated COST
Of 81 Ilg $50 while for the corresponding week OF
last year there Were recorded sixty-one new plans
az an estimated cost of s.. 760. 0S3 49,
Siawson d Hobbs have sold for Mrs Alice {. W
1Jovd the four-story brownstone dwelling, 20Xo'X
extension no. No I$5 West Seventy-seventh-st, at
So 250. -, l,,s
l.. j. Phillips & Co. have sold for Dock Commits
sioner Edwin Enstein the siX-story lron-front nan
ana business structure known as the Florence bulu
ing AT the northeast corner OF Second-aNG ana
Frst-st.. land SlXS4. 10 Herman Wronkow rms Is
The building that was the subject OF recent conuo
versy owing TO one of the floors being leased TO
the CITY for use as courtroom IL mas Deen occu-
pied az such for many years and MI ENSIGN S On
acceDting Commssonership under Mayor Stroht'
was not aware that il contrary TO law Ior u
CITY official 10 make or derive financial benent from
lease of that character. He has found MS wa! OUT
Of the diffculty by selling the property
DR. Marvin D. Hubbell has sold the -FOUR Story resi-
dence No los East Thirty sixthst., lot 25xSs' for
$4,000 ...-- ,oron,o,.
Tho futile e. Bailey Manufacturing Company
has sold the five-story business building No 70
Beekman-st lot 3lx1l0, to Mr.. Ogden, Tor ABOUT
William Merritt has purchased from the Protest. ,s
ant Episcopal Church of St Mary the virgin lhe olu
church and rectory. No 226 70 23G west
ST land 75xlOO5 for $4,000 The buyer VIII improve
the property ,,,,,,,a., >eoLornap
the two new five-story brick fathouses Nos anu
East One-hu ndred- and twelfth-st. 10 MIS- hale
For