New-York tribune., 1898-10-23
REAL ESTAT TIE.
STOCK EXCHANGE PURCHASE PUTS
NEW LIFE INTO THE MARKET.
SPECULATION UPTOWN AND DOWNTOWN EN-
COIRAGED - DIsCOURAG1NG RESULTS
ONLY IN THE AUCTION ROOMS.


coURAGED - DIsCoURAGING RESULTS
ONLY IN TIE AUCTION ROOMS
The purchase by the Stock Exchange of the prop
erty adjoining in Broad-st seemed to put new life
into the realty market last week. Not only Is II
by far the best sale Of the year. but coming at
this time. when operators were beginning 10 feel a
little discouraged by the outlook It's effect was all
the greater \ few more transactions OF a similar
character would go long way toward bringing
about the boom in city realty that has been
promised for long. but seems always just little
way ahead
The price paid for :he property is all that the
most enthusiastic believer in the value OF New
York City realty could desire. II the Stock Ex-
change proposes to replace the present building
with an extension 10 conform archecturally with
the Exchange. then the site has been paid for at
the rate OF nearly 500 square foot for the 4l22
square feet in the plot. But even IL the present
building is 20 be utilized and s25,GD the value OF
the building IS deducted from the purchase price
of the property the site has realized the handsome
figure OF about $40 n square foot. Only four times
in the history Of NewYork realty has this been
exceeded-in 1872 when ~ square feet at the south
east corner of Broad and Wall sts purchased
as part Of the site Of the Drexe Building at S34S 81
a square foot: in 1882. when JOS square feet were
bought on the southwest corner OF Broad and Wall
sts 20 complete :he site Of the Wilks Building at
1880 20 square foot. in 1880 when the Hanover
National Bank purchased 6.0i3 square feet at the
southwest corner o Nassau and Pine at 1923 80
A square foot. and a few months later, when J. f.
Seares acquired 1853 feet on the northwest corner
Of Nassau and Pine sts. at $50 square ioot. ne
sale u therefore Ot great Importance from thS
S,cb Gales as this are few and at long intervals.
The other transactions of the week Were almost all
north OF Fourteenthst. Old properties stili proved
Increased volume Of trading dwelling houses and
the residential district Tne most mPoriamt tam
posed new site of the Woman'S Hospital ConPrls-
g the block front IN Central PaFk West inabT SGweeo 10
raise the funds necessary for the construction or
new huding an1 vare given as the reasons for
me sale. As tho buyers have announced Their m
r'9 t6er ACTIVITY in his section may be expected
Only in the auction rooms last wffH lres VS. Tbe
schedule Of sales contained a number OF attacuEe
parcels but they attracted only the professional
ket for any bat properties or undueStlonSn eaIs &
old building aud the southeast corner Of orchard
and Broome sts 229xeo with three-stoiiX ni'H b
W,iliam KenneiIy brought s9o5qo and s2 80. re
spec specUTeb b Tas SIDE tenemeni-house district was
I'm excellent demand, other voluntary offerings re-
ceved little attention
LATEST SALES BY BROKERS.
Uellner & Wolf bought from Adolf Kerbs yes,er-
dav through NJ * l.. Hess, for about SlD""' the
,lo, with Old buildings fronting 1916 feet on the
north side of Seventecnths $50 feet east OF Firth
ave with sing.e abuting lot on the south side Of
Fleb,eenth-st The land will probably be resod
for Improvement
Maximil.an MO-genthau purchased from the ex-
ecutors of George Hamilton the southwest cor
nv ., Cournh-s-ave and West Ninetieth-st., lC0si2
foet in Counbus-aye by 1ro feet in the street The
Mo, j. improycd VITA titree large apartment houses
I'd four stores the avenue, covering NOS. lp
IG2 and l04 West Ninet.eth-st and Nos 0s 90 5i@
md IA Col:0,buS-aVe. The price paid Is withheld
lanes J. Buckingham sold Tor James X smith
No 2y7 West SX,y-,ixth-st a nNe-story DIlch store
and fenement-house 25X7@slOO, 10 a M. Spltzer
PAM Maver sold COR Smith Rather the north
uest corner Of Manhattan-aVe ana one -hundred-
pm Nayer sold for Henry ROthschild the nve
story nathouse now In course or ertctOn al the
northeast corner OF Fitt,-ave. and One-hnndred-
nd.seyenteent th.St and for the Bernhelmer estate
Tos $40 and 2.sa Tx:hth-aye.. two hNe-story nat
bnnser lots reg leo.ive.y 25Xs0 ana 25XlOO.
Trs Coo sold = Julius Fle!schman d sons me
fbvrost corner OF Fifth-aVe ana One-lundIcu-
aDi.dftccnth-st.. a four-stOry hathOuse. 451S1 Two
lots adjoining the avenue. oVxl" anu one Oh ,iic
s1Teet 25xlOe The buyers have resold 10 MANI
'E%arlrs < C;unn has sold 20 Charles j. La Grasse
,se northwost corner of the Boulevard ana Ninety
sixth-st plot llDllxs66 ~ /, , ,roi
" j. q q H. Smith sold for lorenz r. r: :Ises >, VEL
herr tr two four-story brick double hathonSes
25x7jxiJ for $500 70 Mr. Hart LQr .dt, I,b'n
Payonne y. j.. at reported pri,e % f ST Ir,cp C
rafhouse for Sll.oOO and for Mr Jennings 40 %4S'
Tu.ton-ave a dwelling house, for A5'
STATISTICS OF THE WEEK
seventy-one parcels OF city realty were reported
sold at private contract in the last week. Tne
considerations were announced In twenty-five cases