New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-01
REAL ESTATE.
BUSINESS IN THE FIELD.

The spring season in real estate, which came 10
an END Saturday turned ont toward its close 10
be more satisfactory, on the whole. tnan hao peoi
expected a few weeks before, The last week ITSELF
however was decidedly quiet one. Sevefa! laise
deals which had been pending had been closed VI
before and while there were many rumois last
week Of large sales accomplished or about TO be
brought 20 a head the reports proved without
founda ton.
The season has not been brilliant in large sales
for improvements in vacant lots for the erection
OF business houses office buildings In iact' III
the office building direction there has been halt
as regards new ventures. Various reasons are as
signed for the timdity prevailing on 'he par u
investors The most potent factor is regarded Dy
good Judges as arising from the general cohditoh
Of the country. due to the uncertainty OF the GOV
eminent finances The fact that IT is PresideAtlai
wear is also brought forward. but the convection
prevailing that Major Mckinley viii be nominated
at ST Louis and that he will be elected mitisates
tho force OF that element
The usual observance OF the close o. the spring
season was denoted Saturday by THO large out
door auction sales in the Annexed District. one
was held by James L. Wells the Mapes estate,
West Farms. Among the property disposea
o. was a lot at West Farms Road and Classon-
ave. III 46x2J feet. sold to NJ. Redmond FOR Nl'o;
a lot at West Farms Road and ST Lagrence-ave..
g1Ssx3S feet purchased by J. j. Sullivan for $1,000;
two lots I'm ST. Lawrence-ave. @xlW feet each.
bought by NJ a. Hodsdom for 500 each. Other lots
went s4sOs475 and $40 Five lots III ST. Lawrence
ave. 25x0o feet. went 10 Mr.. Redmond at $40 each
except a corner lot. which brought Si5 one lot
with small house on ii in ST. Lawrence-ave; was
sold 10 William Orr for S2,675.
Lots in Commonweal;h-ave. were sold TO j. j.
Sullivan at $500. $50 and &45 each. according TO
location. This was about the average range OF
prices for lots in that avenue. Lots in classoh-
ave. between Merrill and Mansion SITS. ranged
from $50 to $50
II IL ~ sly TV-fV
Downing estate near Van Nest Station. now in
the Twenty fourth Ward lasted nearly all day
Good corners brought $3.50. Prices ran all the
way down $40. The total sales were &l.uW
An interesting outdoor sale next Saturday Will
be that announced by Philip A. Smyth. OF lG sea-
side lots next Sea Gate Coney Island. The
property lies within the Greater New-York district.
and the ocean front from Coney Island TO Far
Rockaway is already largely taken up, the pre-
dicticns that what is left will be held 10 be or
value. Titles to the waterfront VII be guaranteed
Suburban sales those I'm outlying districts o:
the city. will have their day for some little
time Real estate opera lions on lively scale may
Re looked for the next few months along Long
Island Sound. the Hudson River and the inter
vening district The outlook for a good market IN
dwelling houses is bright. l. is during the summer
that those who wish dwellings for occupancy in
the fall find more leisure n look around for what
they want
The report that the Fourth Avenue Presbyterian
Church property might be solo, unlted WIN the
publication Of the offer OF $50 600 for the Young
Mems Christian Association Building. caused a
good deal OF talk IN religious circles. we'll az
among real estate The officers of the church.
however have been advised to hold on to that
property. on the theory that within few years il
will be worth great deal than at present.
The price offered about $4,000 much
larger sum demanded. The price Of property
has rapidly advanced iris point within fe~
years
Real estate men took deep interest last week
In the discussion over the project IF selling the
Presbyterian Building, al Fifth-ave and Twentieth
ST. Some sentiment adverse 10 the proposition "as
brought out when il was recalled that the build
ing erected the site Of the mansion occupied
by the late Robert L. Stuart. who was large
giver Of money 10 Presbyterian missions during
his lifetime. and left large by his Will for
the cause Much OF Mr.. STARTS money. there
FORE entered into this property. Sentiment. how
ever. cannot battle aga:ns; empty rooms 50 many
part OF Fifth-ave. OF late that the vein has been
up AZ This point provision is made for lots instead
81 offces over stores and business floors.
nature in leasing he sohermerhorn Building to
s IN dAmeroa9 surey G9mpany; ana thus setting
which would close the windows Of the surety com;
Sudns a0s the lev 09T ana wod
It is understood that the two buildings will now
have exits 70 Wall and Pine SITS. a single service
for both buildings Is also contemplated. The net
a per cent basis on $1,000 new appraisement
IS 20 be made each twenty years.
Among the principal auction sales this week will>
be one to be held by Peter r Meyer & Co. to-
morrow at the New-York Real Estate Salesroom.
The offerings VIII consist ~ lots IN Kings
br dye Road. between One cumberland first
and one hur eiehtysecOnd SIS, three lots
IN eNundr ed and ghty -frsts east OF the road
three al and adjacent to the corner of Wadsworth-
ave. and Oae-hundred "A nd -e eht y-seco nd-st: d
dwelling at No. = EdgecCmbe-ave.. seven lots at
Madison-ave. and Ninety-eighth-st. and other scat;
tered property. Considerable interest
the Kingsbr.dge Road offerings, since the
OF the sales there would indicate confidence the
present and coming transit facilities in the upper
West Side OF the city.
Now that the Third Avenue Railroad Company
has begun experimenting with electricity and VIII
soon have conn press ad-dir motor under trial
good deal OF confidence is felt that will not be
long before this road. with improved equipment
for Amsterdam-ave. and on its Kings5ridee Road
line. will play an important part N a rise in real
estate values in this part of the city.
William VI. Ryan will sell tomorrow in the New
York Salesroorn the plot - Skis feet. in Washing
tonave. between One hun lred "A nd ty-eishth
and One-hundred- and-siH ty-ninth SITS: also. the
three-story frame building ard at No. 1875
East observation-disclosures wenty-ninth-st
Estate EXCHANGE Wedr esday n double tenernenf-
house at No 30 Madison-st.. a dwelling at No. li5
West Forty-fourth-st. one at No 5S West Fifty
second-st, and eighty acres OF land in North
Broadway YOnkers, near GreystOne
l. J. Phillips & Co. will offer sDr sale at the New
York Real Estate Salesroom on THURSDAY the high
stoop. seven-story dwelling lot 2Oxl022, at No
q West Seventy-seco nd-st