New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-19
ITNTON'S BIG ESTATE SOLD.
THE COLLEGES HOLDINGS IN LONG
ISLAND CITY PURCHASED BY
4 SYNDICATE
WILLIAM HALLS. JK.. THE NOMINAL BuYER-THE
PRICE REACHES INTO SEVEN FIGURES AND
GIVES UNION MEANS 10 EXTEND

GIVES UNION MEANS 10 EXTEND
IT'S EDUCATIONAL WORK
,,, estate transaction OF considerable im7or-
sos ,,,-t hecu effected whereby Union College
70 s,sposod % rs entire holdings OF reality al
,,.r.er's Point covering most Of the First. second
=. Third wards os Long Island CITY. 20 WiEiam
~. a. ~ Summit y. J.. cashier Of Tho Hanover
",,,,oI Rank OF his city The price paid is not
,,bllc hut # is understood that II reaches
..,.e, ecures and that Mr.. Halls has associated
-, Mn, in tho purchase q, number OF friends
-.,,.s : Moore represented the purchaser. Oil
49,. x Vnrroun. treasurer o. the college who has
D., .be last five years managed the property. Is
.ev responsible for tho details Of the sale. Frank
-. ,ice-nrasident OF the Title Guarantee and
-. -o,rnanv OF Brooklyn. managed tho search
49,, ~, me tile ana guaranteed Il for the coHeGe'
-, pobe-; J Iandon. OF Schenectady. acted as tho
-, ,o- the college the Board o, Trustees OF
IT., bas already confirmed the sale. The pur-
,.o-s Will take possession on March !.
rha Hunters Point property was purchased IN lNSo
r..s,ser, ElphaIet Mott and three years later
-, transferred to Union College. by which 1t has
80 heen held. Upon the income derived from me
,,or,v Il Is authoritatlvey asserted. the college
t,-qe,v thrved. Certain trusts created By
80 Xo. and in addition plots OF land were from
H., % time sold The property. however still In
"a. nearly the whole OF Hunters Point proper
~, = q tract Of eleven acres. with four thousand
o.. ~ waterfront where there is forty feet depth
NO tracts Newtovn Creek and one on
-. rast River. and thousand one hundred city
80 hesiies In the wards named. There are about
-. hrrired dwelling houses on the whole tract
-,s Development OF this section Of Long Island
~,.y &c closely identified with Union College. which
Sas sn4nt over $4,000 Improvements there. Many
.-ests have been laid out. and two miles Of bulk
Neoss and piers along Newiown Creek and the Eas;
l,vs- n the canal constructed. In 1884. receiving
-.sn- o, the land under the waters OF Newtown
-, and the East River adjacent TO their prop
-.v The college also levelled the hill at the mouth
- ,5e creek and extended the shore front 10 It's
,-ese,, limit The land occupied by the llone Island
ts--y company a. Hunters Point was given TO the
csrrv company by the college, and the tract occu-
nfes by the Long Island Railroad. extending from
Eernoi-aye. 20 the East River. was SOD Tor s. 10
70 Not:-aye. was opened and graded. a school was
e-AcfnA n SXth-st. and was maintained tnere. and
he bio: on which the present Courthouse stands,
oornnrsirg fOr'Y-eiFht lots. was presented 70 the
(i-v In l,e5 through the efforts of Mr.. Harroun.
IAN was passed by which the properly was relieved
~ ,ye- 500 90 of accumulated taxes and assess
ments which the college authorities asserted were
unjus; and Illegal
Ho,h sides Of the transaction express themselves
~ sod with their bargain. The possession ana
management OF the property has for many years
faar a great the college trustees. and the
.es,lt az the sale will release them from a real
tate business carried on many miles from the col
lege while g. has also placed az their disposal a
la-ge sum OF money 20 be applied directly 10 edGca
tioral wo-i The purchasers say that the further
development. of their new property Will depend
largely the concerted action OF other large own
in thai ncEha0rAOod and also on the determine
ZION of the jurisdiction which the borough boards
vii have under the new ci,y administration.