New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-22
REAL ESTATE.
BUSINESS IN THE FIELD.

| There many signs OF encouragement for
dealers and investors In New-York real estate. not
withstanding the temporary lull in ml!ion-dollar
transactions 1t Is evident. how duh the pres
ent condition OF Wall Street exchanges may be. that
there are large sums OF money available for secur-
Ing sites which to construct large business build
ings dwellings and churches. There is considerable
interest In the property OF Holy Trinity Church. at
Madison-ave and Forty-second-st. This property
Is still In the market for buyer The asking price
OF the trustees for this property IL 100000 and !,
IL expected that II will soon bring this sum. The
closing OF the sale will probably be an index to a
volume OF other transactions in that neighborhood
There is no doubt that the district near the Grand
Central Station will pass through great
transformation. As previously indicated In The
Tribune the price per square foot attaching to the
pending SAFE OF the property mentioned Is regarded
In real estate circles falling somewhat short or
the real values OF land in that district But
1t must be borne In mind that the structure on the
land Is costly. and would be available for no other
uses than those for which 1t wa, constructed.
One OF the notable transactions OF the last week
the sale Francis NJ Jencks and his associates
OF the Ottendorfer property on Washington Heights.
This property. containing 1853 city lots and extend
Ing chiefly between One-hundred- nd thirty fourth
ct. and One-hundred- and thirty -seventh-s, the
Boulevard and the Hudson River. acquired
from time time. beginning in 1878. by the late
Mrs. Oswald Ottendorfer. The price paid. about
5000 lot, represents substantial Increase over the
| amount which the property cost. 1t Is said TO be
the intention OF the purchaser to begin the erection
OF dwellings at least part Of this land very
soon. Not many months ago the Donnelly tract
extending from One cumberland thirty thlrd-st to
One-hundred- nd thirty sixth-st and from Amser-
dam-ave. to the line OF the old Boomingda,e Road
sold to Charles r. Barney. He paid at the
rate OF about $3.50 for lots which have great
deal OF rock on them That property however
like the Ottendorfcr tract. Will be developed sys-
tematlcaily The fresh activity In the Washington
Heights movement Is. doubtless. largely due TO the
prospects OF improved rapid transit facilities.
Since Harlem. outlying district, was swal-
lowed up By the new growth Of New-York City, the
suburbs OF the metropolis have lain across the
rivers east and west. The suburbs OF Brooklyn
that city was forty years ago. have now suburbs
Of their own. extending over a large part OF west
ern Long Island New-Jersey has gained largely
by reason OF this overflow OF homeseekers and the
railroads have arranged their timetables In the
interest OF the commuter. Meanwhile. little atten-
ton II Is said has Of late been given to the terri
tory in Wes,chester County recently annexed to
New-York.
A well-known resident and property-owner OF
Westminster County said 10 a reporter OF The
Tribune:
Few people In New-york OF the
beautiful country which lies the city
the lower part OF Westchester County and 1t is