New-York tribune., 1896-12-08
REAL ESTATE.
ANOTHER BIG OFFICE BUILDING Abool
TO BE ERECTED.
TIE REPORT OF THE FORMATION OF i"'''
INVOLVING s2sOoo0oo WORTH OF PROP
ERTY DIsCREDITED-sALEO OF
THE PAYERS LOTS
THE TRAVERS LOTS

THE TRAVERS LOTS.
II renorts which were circulated yesterday may
he relied upon one of the largest real estate dea's
consummated In New-Yorlt In recent years VIII
soon he closed. and another group of great once
buildings will be erected In the lower P"i' vi
the city. The syndicate which is reported TO nave
made the purchase includes the names OF NUM-
Der of men who are Interested in property IN the
vicinity of the purchase The amount IN
volved is variously estimated between S2.Oo"W ana
81 oUoWO Nothing definite could be ascertained as
the plans. although 1t IS known that architec's
have been at work them. and that nunlDer Oh
schemes under consideration. Besides high
office buildings constructed the most modern
plans and fitted with all that recent inventions In
the buLlcr's art may suggest. there will he roomy
court yards and arcades and architectural devices
which will eclipse anything In that part OF the
city
\ report circulated yesterday which caused
the few real estate men who hearl II to open their
eyes with wonder. II to the effect that large
real estate trust. including some OF the most vai-
able Office buildings In the downtown district had
been formed. and that the aggregate amount OF
property involved was S2j.ODU0. The first lntima-
ton had OF the alleged deal from architect
who had gone far In the matter as to draw up
the most elaborate md far-reachng plans. Russell
Sage was among those reported TO b" Interested In
the syndicate. and it further alleged that ele-
waited trains to he direct to the buildings
ana that elaborate approaches were TO be CON
structcd putting the offices In direct communica-
ton with the road.
One Of the largest propcr,y-owners who was
day by a Tribune reporter He ridicued the idea
and said that he had never had any intimation
that such plan existed In the minds Of any OF
the men said to he about TO form the trust. He
surely krew nothing Of 1t. and believed it to be
wholly impracticable Several wcll-informed real
estate men who by the reporter
Of IN same opinion as far the utter imprac-
ticability Of the scheme is concerned
The Real Estate Exchange WAS well filed with
bidders ,o, SAG again yesterday AZ noon when George X
Read took his place on the stand to continue the
auction sale OF the Travers estate LOIS In the
thursday last when ' 1876 OF Of the @ is lots were dis
posed Of by Mr.. Read. principally to people of
at an avcsase Of $50 lot. The cXecTtors OF the
,nta,r n,d nopSd ior better prizes Yesterday but
down to the highest bidders far from
couraging. When the auctoneer came to the more
that filled the room that he had been instructed
to stop the sale. as the executors did not feel
the low prices that had prevailed In response. how
ever. 10 the numerous requests Of these present
the sale was allowed to continue. From this time
on III" prices improved, end few Spectators who
less often as purchasers.
The first block offered vas that bounded by Perry
ave. Two -hundt d-and-hfth-st. Hu-ave and Wood
avn M k9@d. containing thiry-seyen lots They went
block bounded by Psrry-ave. Two-nundrei.and.se
snih-st uye we % ana %
eft the rest o; this block temporarily and put up the
Wcbster-ave bloc k bounded the other three sides
by Two -hInff' d-dud-nfth->t.. NorwOOd-ave. and
Two-hundred-an -sev"nth-si. The first ot In Web
ster-ave near Two hundred,an 25xls. was
sold To Mar. Slender for so25. Forty parcels were
soi IN this block Tor $780, OF eiriy
$50 lot. The entire block ~ fortysx lots bounded
10y fiull-dva.. TWo-hunjrcI-anl-scv -scventh-st. Nor
wood-ave. and vo~hundred-a1 nj nfth-st then
sold for 2S.iJ average of about s520 A lot. Among
thr buyers were -. \. Quinn Edward Kelly. w. J..
Van PeIi Frank X. Houghion and Mrs Murphy
Muiligin.
The ,alc the longest since the famous Morgen-
ihau sale. IL lasted seven hours Two hundred and
nfiy-ihr"e lots sold and tho total sum realized
$40 30 average OF s193 a lot t37 a lot less
than obtained AT the first days offering OF the
parcels
Three sales under foreclosure were held at the
ErOldway Real Estate SdesrOom Yesterday.
william Kennedy sold Nos. SO. 65 and g. Downing
81. nve-story brick and stone front apartment
houses. - 1NspXis ,y5l sN313. TO the plaintiff the
Girard LII. Annuity and Trust Company. OF Ph!ladel-
phia. trustee for $500
Peter +. Never & 90 sold No iss Grandst. four
story tenement. lot 1Ni2. tho plaintiffs. William
\. sherman ana others FOR sl3.5s'.
Bryan l.. Kennedy sold No. log East seventy fourth
three-siory dwelling. lot sxI TO Henry l.. San
ford for fll.e0