New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-15
REAL ESTATE.
RIYsINESS IN THE FIELD.

. subject that engages the serious thought OF many
students in realty. Nowhere else does the CROWN OF
the country reveal itself so continuously anu per
sistently as In the city of New-York Inose VINO
lendeavor" said a real estate man, Ito realize oehe
Ats or results from the ventures made in realty
must first distinguish the risks between uhi'hpfoSeu
and improved property.
The experience Of largo property-owners IN New
York in dealing in the two kinds OF properly men
jtoned however, differs in a surprising degree \
tour among some of the real estate owners ana
dealers was made a few days ago by The tribune
reporter Their views are given below. EDWARD
Kilpatrick the well-known real estate man, gave
the following his experience In dealing IN rea'y
during the last quarter OF century IN Ne"-ioiA
City which fairly presents the views ana expert
ences Of other large property-owners IN ths cE'
who were also seen this subject during the last
week. ct have sold during the last week
four full city lots 300 feet west of Central
Park West, fifty feet on Sixty-sixth-st. ana nl'y
feet on Sxty-seventh-st. The price realized was
As 0O which is at the rate OF "a 80 per square 1901
This unimproved property was purchased twenty
nine years ago for 5000 The taxes and assess
uents and interest at the rate of 3i1 per cent per
annum on the original cost during the last twenty
nine years 1 have carried this property amount TO
more money than I realized at the sale
In conversation a man OF forty years experience
in dealing real estate in this city, said tnat ne
had never held an unimproved piece OF property
ten years without losing money. While on the
other hand he stated that he had been the owner
of improved property for the last quarter OF
century where the rental during that per1od hau'-
dated the original cost His books were even SHOWN
In evidence of how his reaiestate accounts were
kent Each piece OF property was treated as an IN
ldividual. made debtor TO the purchase price anu
all other expenses. and creditor to the income re-
ceived His books showed one piece OF vacant prop
erty costing $4,000 in 1879. had, by improving H.
paid not only entire original cost OF the prop
erty interest and all expenses. but credit balance
Of S coo. after carrying 1t sixteen years his ac
count was given fair Illustration OF the al
vantages to be derived in carrying improved
property When land reaches a condition. said this
real-estate man, where there is demand ior I'M
movements 10 make 1t profitable. 1t must be made
income property. The property. that was purchased
at s. 900 lot six years ago. in Sixty-sevehth-s De-
tween Eighth and Ninth ayes. and which is now
worth about $4,000 lot, as shown by recent sales
would have cost that amount in taxes. interest and
assessments II kept idle but, being improved has
paid the owner almost the original cost OF the
land and fair interest on the original invest
ment.
The progress of improvements made have passed
over some real estate and left 1t in the rear
notable case Of eleven lots on the norm zoo ae OF
Seventy first-st-Lenox Hi-were sod Tor sZz'JW
erty has been recently purchased by the Presby-
terrain Hospital for less than was pala lot !. men men
and the cost Of carving these iots was more IMAM
Although only few transactions OF note in real
we're many evidences OF business and spirit OF
confidence was prevalent which gives proinisse, Of
several involving quite valuable bits Of realty TWO
Notable u ahs seShwest eoer OF and
Nineteenth-st. with tweiyeStory pu i 10 De
erected, to the American Lithograpnic company,
and the sale CT entire block in Harlem 10 the
Crimmins brothers. -, ,.,,
An important auction sale OF 5 lots Is advertised
TO take place at Staten Island at o'ciock TO-DAY.
r. T. Cornell. the auctioneer Will sell these ios
and are situated at Fox Hill. Rosebank. staten
ISLAND T M. Hcw to be
FOR settlement by the trustees for his creditors by
gage sas'' on the property and because M wmans
are nGs' to s3naea near ne
railroad. streets. churches and schools They are
peculiarly adapted fer homes Tor working people 81
''a The o. vsse Of the advertising columns Of The
following: well-known real-estate dealer SAD
cs:s Ssf ss 10 This
him. he said 81 $50 commission. which he would
been Obliged TO pay ,s to H. e Sss on
for $4,000 the result Of single advertisement
nse Of private saes in the
ing the last week as contrasted with the precedas
The aggregate investment last week was 81 5000
900 for the previous week DuTng ,ss
o. convsyances to the number of s5. of which Ill
: %sss aS%'ns q @ For the sSrTesSsndns
week OF last year 27 transfers. Of which III were
nominal. were filed. the amount involved ben 5g
were recorded last week. involving $. 3sl 6es For
the corresponding week of last year 2So mortgages
and loans were made, involving &525,l2l There
were fled In the Building Department nfty-four
,plans for buildings. at an estimated COST OF
tsz7 500 while for the corresponding week of last
year there recorded thrty-eght plans at an
estimated cost Of 1881. 800
Henry H. Dreyer has sold for Mr.. Ramsey the
vacant block front. 2lxslxi7Sx75 the north side
Of Two-hundred -fourteenth-st.. between Kings
bridge Road and Amsterdam-ave. TO John
Irving, jr
and a-half story American basement dwelling lot
17sd02l No M West Eighteenth-st, to NY Roy
John Fnek has sold for Mrs. Bertha A. Haght
the four-story stone-front double fathouse on LOT
1Sxioo5. No 3ss East Sixty-nnth-st., to John BONN
for $4,000.
oeeyS a. Kemp have sold for Elizabeth Erskine
the three-s story stone-front dwelling, No. 157 West
Eighty seventh-st.. to William Moller for about
10000