New-York tribune., 1896-11-23
REAL ESTATE.
BUSINESS IN THE FIELD.

that the election or MchHItS "o"'" "'NN@
real estate investments almost. II not quite as ma
tcrially as any others Is already meeting iuihmeh''
For the last two weeks the prices obtained for large
parcels of realty In the lower part OF the city ana
for vacant and practically unimproVed 'o'S '"o''
the Harlem have cqualed the most sahSui"e ~
pectations OF those most competent 10 Io'eH"i"o"
the conditions of the market. In many instances Ill
fact the prices obtained for parcels put up al au'
ton have so far exceeded the limits up to which
sbrewd BUYERS owning ncghboring properties. went
10 the sales prepared TO bid that the names Oh
many of them do not appear as purchasers Il" '"e
auction room lists at all.
That so many important sales have taken pace ~
good prices in the last two weeks Is cause Tor con-
graduation as II indicates the part OF the buy
ers full confidence for the future In the real estate
market As IN times of general DEPRESSION realty
holds its in the market longer than other ior"H
of investment. and declines In value nuch less 10
in times of restored confidence the real estate mar
kci Is among the last TO feel the full benefit ci inc
changed conditions This is well exempiiiied just
now Many people who. q year or more ago were
anxious SELL either because they could not ahoiu
20 hold their property not satisfied with the
return on their investments. have withdrawn par
GELS which they had placed in the hands OF p'okeS
have instructed the latter not TO accept the prices
they would have been satisfied to take some months
ago.
This tendency to hold property particularly
among owners of smaller parcels. even at ternpor-
ary embarrassment is further shown In the tend
ciicy TO make short leases Whereas al any '''ic
since 1896; owners OF propcrticH have been anxious
to offer extra inducements In order to secure lease
Of from three to five years. to-day the tendehc; 10
to restrict the term TO year in the fuii eNpec-'
taion of securing an Increase year hence More
over this same class OF owners in many cases are
now finding it comparatively easy TO borrow money
on their realty at easy terms in the expectation ot
selling the property and satisfying the mortgage AZ
a handsome profit In the near future.
Stin I'm view of these facts. as already stated,
large properties have been disposed of advantage
ously private and public sale In the last two
weeks which only to confirm tho beliefs oi
those who holding their parcels for stl iurthe'
increases in value. The market is in an extremely
healthy and lively condition. and brokers are look
ing forward to of the most successful years hey
have known for "A long time.
The auction sale OF the lots belonging 10 inc 81
san T. Ward estate. located on the hihssnii"Hc
Road. between One-hundGcd- d-and-siX'y ana
One hundred -and-scvcn;y second sis, NJ Tue Nc"
York Real Estate Saicsroom on Thursday last
called out an unusually large number or buyers
whose bids indicated that they had literally gone
over the ground with the greatest care and were
prepared 10 bid on each lot In accordance with It's
value as regards location and condition OF the pot
The prices realized were considerably IN excess OF
what was anticipated. and many real estate men
declared after the sale that tho prices obtained. II
not actually tSlHbliSnllE INV N''"'''N'' 80
cant lots on the West Side above the Harlem could
not fail TO affect materially future sales ~ 'h' sec
charles n Barney who was large purchaser on
Thursday. only little more than year ago nousht
at private sale whole blocks bclonglnE To the
same estate. faNorably situated III ro't W,Sl''.-
ton-ave.. for considerably less money t'h III, ~
erage of prices received by the estate i"S' i""''
There was considerable professional trading in the
week and I'm most OF these cases me valuations
nlaccd upon the properties which changed hands
can hardly be taken as an inaoau1n %, wv I,, W,
this nature. there were numerous oth'r transfers
where actual cash paid. The largest iadr
Two weeks ago we're not made public Till last week
was that negotiated by Eicnard NJ MONTGOMERY S
RoHc Mr. Aston ransferrs2 s o. ,nS o'e n and G"ss y x
change Place. to Mr i.Obcrt AZ a valuation OF ~
s.,."'o or 500 a square foot for " lare" property
Long Island and several parcels IN ms cityy. u,
way property. Tho estate o! Samuel Lord disposed
of No ijl 10 ic7 Broadway; al he northwest cor,
this city. to Boston capitalists al about S""".
This is the cite of Lord TAYLOR ola dry roohS
town more than twenty-five years ago Another
Broadway sale waa ma 3I ,ns o' to M@Hcrr FOR
something about S,-i.~bo. Danl'i Birdsa!i o.
ome ome IcoT hc nrcbsnr viii erect ~clvc-siory nrc
proof mcrcan'i" building on tnr s" ,, a.
thing more than sll".Wp.
An importapt transaction was the purchase BY
rnmnanT Of blot ;ixeooio' in Forty-thlrd amd
Foriv-fourth SITS adjoining the Bar Association
Huilding on which he proposes TO cree, twelve
story bachelors apartment and clubhouse. from
plans by Rossiicr Wright at an estimated cost oil
S,Op.o0p.
Among the important auction sales TO be held this
At the Ncw-York Real Estate salcsroom No. III
on TUESDAY. by Peter + Never CO. ap9,T'meni-
hurst-'ye'. No. 10 Easi Tcn'h.s, Nos n7,ioi Man
gin-st Nos. ~ and 10 w,st sxtysixth.st. h, 10,
49, West re-hundrcd and-thrd,st Nos - and .,
Fast One hundred and iourtccnth-st No |r' West
Onc-hundrcd and sxt"enih-st No ~ West Cn"-
hundrcd-and-t -twer y-fourth-st.. No. ~ East one
hundred-and .ihirtythird-s', and No 30 West one
hundrcd-and- thirty- third-st ~. -.,.,...,.
John H. Judge. referee Nos. i3i. rs, ~ and III
Sixth ave-. Nos loi. lpi lo3. i"i. It" and II West
Tenth-st:: COMPRISING northwost corner. nos 20,
and 2u1 East Ninih-st.. No ~ Nassau-st. Nos. III
and ~ Sxh-@ye Ncs II and 4, W w w, Ninth,s, &
leenth-si. nos. IA; and 1861 W., Fifeenih-s,
four choce lots or west eide Of pnrk be-! wen
seventeenth Sis: No 20 East one hundred and
drod-and-i iwcry -ihird-s'.. comprising about seven
city lots No. - Third-avc and No. to II Siuy-
ON Wednesday, by James l.. Wells. foreclosure
sale Lewis !. Dclahcld. referee Nos. lG- 10, iGs
west of col rrbus-ave. each about 17.2xJG. four
threc-story brick dwelngs with stone fronts Due
Pcrry-si. south side, 100 icci of West Fourth
rcnth-ave.. lc.sxos.s ,four,;siory, and basement
WoN1!rlOUf hH'HilS' "IS'. ~. L. N'1. N'Hly-
sxth-si south side. 30 feet west OF Nlnth-ave.
25xos9. nve-story brick tenement also. No. l5i
Pcrry-st.. south side. 50 feet west of Washington
ST.. 2Ox7s. thrcc-story brick tenement. with two
story brick stable In rear
ON Friday, by Philip \. Smyth. foreclosure sale.
Richard II. Clarke referee. Nos. .21 and 2.3 Eas:
Fifty-sixth-st. north side 800 fee; OF Second
ave. ;,Dx1nJI. nvc-story brick stores with two
story brick building In rear. Due on judgment.
81 Sl;: prior mortgage. SW.Opb
by William Kennedy: foreclosure saie Francis d.
IIOyt referee Nos. .,J!b-.ri ore hundred nd -eie
ty-second-st. north side 300 feet east OF Eleventh.
ave. .OXIil1l three thrcc-story brick dwclli1gs.
Due judgment. $50: prior mortgage. S12OoO.
BY Bryan l.. Kennedy foreclosure sale. Louis r.
Van Gaasbcck. referee, west side of First-ave from
Ninety-fffh 10 Nincty-sixth IT. 2Dl.ixlfO. eight
four-story brick tencments. with stores Due
judgment. S1l .2:}6.
\; No 30 I.ibery-st.:
on Tuesday. by Richard Y. Iiarnctt g. CO.. auc-
tioIi sale Park-ave.. southeast corner of Ninety
cighth-st lots each .JxlOO: also. No 32i West
Twenty -eiehth-st.. south side 20 feet west OF
Eighth-avc.. 1s..x!)s.G four-story and basement
brownstone dwelling also. No. 1J7 East Seventy